Category Archives: Exemptions

Fear of Losing Personal Items in Bankruptcy Often More Myth than Reality

For many, bankruptcy is the single most reliable and realistic way to get out of debt. Yet countless eligible borrowers will never file thanks to a commonly-held fear. Most folks believe that if they seek bankruptcy protection, they will lose their possessions, from cars to TV sets. But in most cases, that’s simply not true…. Read More »

Bankruptcy Can Protect the Unemployed From Foreclosure, Advise Chicago Attorneys

The foreclosure saga continues. This week, the Washington Post reported that unemployment has officially overtaken subprime mortgages as the leading cause of foreclosure. An estimated 1.8 million homeowners could lose their house to the bank this year, compared to last year’s 1.4 million. Folks without jobs have an extra hard time qualifying for loan modification… Read More »

Atlanta Attorneys Say Unemployment Doesn’t Have to Equal Foreclosure

When an acquaintance of mine lost her job, her first priority was to continue feeding her kids. Her second priority? To find another job – so she could continue feeding her kids. Needless to say, she spent most of her time searching for work and none too much time worrying about the mortgage. The good… Read More »

Illinois and Georgia Bankruptcy Exemptions Part 2

In our last post, we debunked a common myth about bankruptcy: some folks misguidedly believe filing will cause them to lose their belongings, including their house. But bankruptcy can not only eliminate your debt, it can actually help you save your home, car and other possessions. Want to see for your own eyes? Take a… Read More »