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Many of my clients say they don't want to "file bankruptcy on" car loans or home mortgages, which means that they want to keep the car or the house, and keep making payments on the car loan or mortgage. You can do that; but it's a good idea to understand how car loans and mortgages…

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Chapter 13 trustees in the Northern District of Illinois require that debtors turn over tax refunds every year during the court of a Chapter 13 plan. This makes sense: If you receive a tax refund of, say $2,400 each year, that is $200/month extra that you are sending to the IRS; $200/month that could be…

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Can I use bankruptcy to pay less, or reduce my payments? In today’s world, we have seen a huge decrease in the value of many people’s homes and investment properties. Many of our clients are facing the fact that they now owe more than their properties are worth. Here are several ideas about how you…

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