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Bankruptcy filings may be down for multiple reasons

by Davitt Law Office, PLLC | Sep 26, 2019 | Personal Bankruptcy

In September 2010, there were about 1.6 million bankruptcy petitions filed throughout the country. Eight years later, that number had gone down to over 770,000 cases. However, the number of bankruptcy cases was down in Illinois and across the U.S. for a variety of...

Which generation has the most credit card debt?

by Davitt Law Office, PLLC | Sep 4, 2019 | Personal Bankruptcy

Younger generations, especially millennials, have a poor reputation regarding money management. Older people may be quick to point out that this demographic has a lot of student loan debt and relies too heavily on credit cards for purchases. You may even have some of...

Can You No Longer Realistically Handle Your Debt?

by Davitt Law Office, PLLC | Jul 11, 2019 | Personal Bankruptcy

Like most people, you likely did not wake up one day and find that your financial situation was out of control. Certainly, a sudden event may have started the decline, but your money woes may have worsened considerably over time before you reached a point that you...

Medical debt top cause of bankruptcy

by Davitt Law Office, PLLC | May 22, 2019 | Personal Bankruptcy

Of those who file for bankruptcy in Illinois and throughout the country, roughly 66.5% do so because of medical bills. Individuals file either because of the medical debt itself or because of a lack of income caused by time spent out of work. This is according to a...

Guidelines to follow when filing for Chapter 13 protection

by Davitt Law Office, PLLC | Mar 27, 2019 | Personal Bankruptcy

While there are several guidelines that must be met to file for Chapter 13 bankruptcy, there is no income limit to do so. However, an Illinois consumer seeking such protection will need to take a credit counseling course as part of the process. It will also be...

Weighing Both Sides Of Chapter 7 Bankruptcy

by Davitt Law Office, PLLC | Jan 22, 2019 | Personal Bankruptcy

Although we are only a few weeks into the new year, you may already be seeing the futility in keeping your resolution to get out of debt. Like many in Illinois and across the country, the pressure of overwhelming debt may be too much to bear. You may be experiencing...

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Recent Posts

  • Bankruptcy filings may be down for multiple reasons
  • What To Do About Passwords In An Estate Plan
  • Study finds poor couples as stable as middle-class couples
  • Which generation has the most credit card debt?

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