Tips for First-Time Home Buyers After Bankruptcy and Credit Repair

November 26, 2019 J. Wrobel Leave a comment

Qualifying for a Mortgage After Bankruptcy

Lenders understand that after your Chapter 7 or Chapter 13 bankruptcy, you have less debt to pay and more money to pay a mortgage. In most cases, you will have to wait for two years from the date of a Chapter 7 bankruptcy discharge date. Meanwhile, a Chapter 13 bankruptcy, which is a three to a five-year repayment plan, after 12 months of on-time bankruptcy plan payments, you can get an FHA loan.

Most people don’t take advantage of bankruptcy options because they think it still takes so much more time to qualify for a mortgage after a bankruptcy case. You too can be one of the many home buyers after bankruptcy.

Learn About Your Credit After Bankruptcy

Chicago Bankruptcy Attorney Joseph Wrobel Will Help You a Fresh Start Today! Call Joseph Wrobel, Ltd. at (312) 781-0996

Saving For a Mortgage Downpayment After Bankruptcy

While many people still put down 20 percent, there are many lenders who will approve mortgages with a 3 percent downpayment on a home. There are first-time homebuyer programs that allow new mortgages for 3 percent down. When you take advantage of a low or no money down mortgage, you might need to pay for mortgage insurance, and will affect your monthly payments.

Some of the loans that work for people who want a new home but do not have a 20 percent downpayment include conventional mortgages, FHA loans, and VA loans. These are great for home buyers after bankruptcy.

A conventional mortgage is a good option for homeowners because the costs can be lower than other options when you have a high enough credit score, of at least 620 and a debt-to-income ratio of 50 percent or less. Note that these are general criteria and results may vary.

An FHA loan is insured by the Federal Housing Administration, a part of the U.S. Department of Housing Development. An FHA loan may be available for buyers with a credit score of 580. A mortgage insurance premium (MPI) is commonly required and can be paid upfront or it could be part of your monthly mortgage payments.

A VA loan is backed by the U.S. Department of Veterans Affairs and can be secured without a down payment. VA requirements for loans can include a higher credit score and an updated home appraisal.

Mortgage Application Tips to Get the Best Deals After Bankruptcy

Find a mortgage broker who can run your credit and tell you where you are now, and where you need to be financially to be approved for a mortgage. Being approved for a mortgage requires your application to satisfy several criteria. Your mortgage application might be graded differently by a variety of lenders and your broker should know which company may offer the best deals to home buyers after bankruptcy.

Once you have a copy of your credit score you have a baseline for improvement. You can take advantage of one of many credit repair programs to increase your score before applying for a mortgage. It is important to not assume any new credit obligations within a few months of your credit application because new account activity can reduce your credit score.

One of the things you will learn about credit scores is that the percentage of credit used is very important to a good score. If you have a credit card with a limit of $1,000, your credit score reports highest when you only use 20 percent of your limit at the end of your monthly billing cycle. A best practice is paying your credit card down right before the end of the monthly cycle so you owe the least amount at that time of the month that is reported to the credit bureaus.

How Much Can You Afford Without Drowning in Mortgage Debt

People who recover from money problems can rebuild their finances and credit by controlling their spending. When considering applying for a new mortgage, it is important to figure out how much you can afford every month without falling behind. For example, an unexpected car repair or medical bills can make an expensive mortgage payment difficult.

DaveRamsey.com: Don’t Be House Poor, Dave Recommends that your monthly mortgage payment be 25 percent or less than your take-home pay.

Consider what you really need in a new home and how much space is necessary for you and your family. A home in an established neighborhood with good construction can cost less than a new construction home. Affordability is important and you are more likely to feel financially stable when you have an affordable monthly mortgage payment, like many home buyers after bankruptcy.

Research Communities and Neighborhoods that Fit Your Needs

What are your top priorities in a new home and community? You and your family have several needs that include a good commute, good schools, and a safe place to live with plenty of amenities. Every family has a list of needs and a list of wants when looking at buying a new home. Once you narrow down the best communities and find a few neighborhoods that fit your family, it is time to start going to open houses.

Niche: 2019 Best Neighborhoods in Chicago

Niche: 2019 Best Chicago Area Suburbs

Attending open houses can help you get ideas about what people have done to update houses and add features such as a patio, hot tub, or a pool. Especially if you are considering homes built several decades ago, you might notice how some owners removed walls and remodeled older homes to make them more open and attractive to buyers. The cost of some minor home remodeling and construction can make buying an older home in a settled neighborhood more attractive to home buyers after bankruptcy.

Be Prepared for Closing Costs and Expenses After Moving Into A New Home

Closing costs could be 2 to 5 percent of the loan amount for your new home. Your realtor can help you with opportunities to negotiate with the seller to cover some of the closing costs if there are reasons to reduce the selling price and a closing costs compromise is an option.

People buying new homes should be prepared for the cost of adding necessary furnishings, appliances, and updated fixtures. For example, if you buy a new home and want window treatments and other fixtures, the costs can add up quickly. This is another reason that an older home that already has all you need might be an attractive option.

Chicago Bankruptcy Attorney Joseph Wrobel Can Get You a Fresh Start So You Can Rebuild Credit and Save Money to Be Among Many Home Buyers After Bankruptcy.

Bankruptcy And Your Home, Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7, Bankruptcy Beyond The Basics

How to Stop Wage Garnishment with Chicago Bankruptcy Attorney Joseph Wrobel

October 11, 2019 J. Wrobel Leave a comment

What is a Wage Garnishment and How Does it Work?

A wage garnishment is a court-ordered process requiring your employer to withhold money from your paycheck and direct that money to pay a court-ordered money judgment. When you owe someone money or do not pay bills, the creditor can sue you and get a money judgment. Then they ask the court to enter a wage garnishment order, usually accompanying a withholding order that is sent directly to the payroll or human resources department where you work.

Nobody wants their wage garnished and their paycheck reduced. People worry they won’t be able to pay the bills on less money. People worry their boss will find out and hold the garnishment against them. People worry about being passed up for promotions, or they worry about being fired.

People ask Chicago bankruptcy lawyer Joseph Wrobel what they can do to stop wage garnishment. Bankruptcy will stop wage garnishment proceedings because the automatic stay prohibits creditors from taking any collection activity against you during the bankruptcy.

Joe Wrobel is the Chicago bankruptcy lawyer who can stop your wage garnishment. Call Joseph Wrobel, Ltd., today at (312) 781-0996. Stop wage garnishment before or after it happens.

Check out these testimonials from people who loved their bankruptcy with Joseph Wrobel, Ltd.

How to Stop Wage Garnishment of 15 Percent of Your Gross Wages

Chicago bankruptcy lawyer Joseph Wrobel knows you are concerned about your monthly budget. A wage garnishment is going to make it even harder to pay the bills. In Illinois, creditors can take up to 15 percent of your gross wages.

Stop wage garnishment of 15 percent of your grow wages by filing bankruptcy before the wage garnishment is initiated by your creditors. In Illinois, creditors have to sue you and obtain a money judgment before they can petition the court for a wage garnishment. This means that you have time before the wage garnishment takes effect.

As soon as your Chicago bankruptcy lawyer files your bankruptcy petition, your rights take effect, including the automatic stay. An important right under bankruptcy law, the automatic stay stops wage garnishment immediately because that would be collection activity while the person is in bankruptcy, which is prohibited and a violation of federal law.

How Long Can the Automatic Stay Provision Stop a Garnishment

When you meet with Chicago bankruptcy lawyer Joseph Wrobel he will explain how the automatic stay works and how long it will protect you from any collection activity. At your initial meeting with Joe Wrobel, you will be given a roadmap of what will happen from the beginning until the end of your bankruptcy. You will learn that the great thing about filing a bankruptcy petition is that you get immediate relief from bill collectors, lawsuits and wage garnishments.

Automatic stay protection in a Chapter 7 bankruptcy lasts until your Chapter 7 discharge and the final court date when your bankruptcy case ends and is closed. Likely the creditor will not have anything to garnish your wages for because the underlying debt was probably discharged in the bankruptcy case.

Automatic stay protection in a Chapter 13 bankruptcy will also help you live free of collector harassment while you get caught on your bills and finances over three to five years. Most people who file for Chapter 13 bankruptcy are saving their homes from foreclosure, but they are also saving themselves from wage garnishments. Another example would be a person who wants to stop wage garnishment and discharge the underlying debt, but that person does not qualify for Chapter 7 bankruptcy because they make too much money.

Joseph Wrobel can meet with you and let you know whether you can qualify for Chapter 7 bankruptcy or Chapter 13 bankruptcy depending on your finances and situation. Read our How Do I Start page on our website. Call today (312) 781-0996.

Check out our many locations, there is one near you!

Discharging the Source of the Garnishment in Bankruptcy

Chicago bankruptcy lawyer Joseph Wrobel can advise you about your rights and options under the bankruptcy laws for Chapter 7 and for Chapter 13 bankruptcy. For example, you may have questions about what debts are dischargeable and which are not.

While in a Chapter 7 bankruptcy, the standard full wipeout of dischargeable debt, you can get rid of credit card debt, money judgments, hospital bills and other debt. Meanwhile, child support, DUI personal injury suits, student loans, income tax and debts not listed in your bankruptcy are not dischargeable.

A creditor can also challenge your request to discharge certain debts when they challenge your request to discharge them. For example, if you max out a credit card and incur debts just before a bankruptcy, with the intention of never paying them, it can be considered fraud on the court if you ask to discharge those debts in bankruptcy.

Call Chicago Bankruptcy Lawyer Joseph Wrobel to Stop Wage Garnishment and Learn Your Bankrutpcy Rights Today (312) 781-0996

Joseph Wrobel has been helping Chicago and suburban residents get a fresh start and get out of debt for decades. Mr. Wrobel has seen just about everything and he knows how to handle even the most complex financial situations. When you hire Joseph Wrobel, Ltd., you can put yourself in the best financial position after your bankruptcy. Whether you qualify for a Chapter 7 or a Chapter 13, you and your future credit, buying and borrowing power are in good hands when you hire Joe Wrobel.

You can learn all kinds of things about bankruptcy cases and the common questions people have when you start reviewing our blog articles and podcast interview discussions where we answer real questions.

Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7

Hospitals Sue Patients for Unpaid Medical Bills: How Bankruptcy Protects You

September 16, 2019 J. Wrobel Leave a comment

Hospitals Sue Patients for Unpaid Medical Bills: What You Can Do

Hospitals are filing lawsuits against more of their patients. As collection agencies are less effective in collecting unpaid medical bills, hospitals sue patients with unpaid medical bills when they chose to collect from patients directly, instead of using a collection agency.

People incorrectly assume medical bills don’t matter and hope they do not get sued. Many large hospitals have a billing department that spends a calculated amount of time trying to collect a medical bill before sending it off to collections. Many collection agencies just call and harass you. Others threaten to sue.

Meanwhile, some hospitals sue patients for unpaid medical bills instead of waiting for the collection agencies to try collecting the balance due. Bankruptcy can stop the lawsuit!

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

News Article: Lawsuits From Nonprofit Hospitals That Trap Them in Debt

A struggling social worker, the former patient is being sued by a nonprofit healthcare network in Memphis, Tennessee. Her name is Raquel Nelson and she was sued for $2,200 by Methodist Le Bonheur Healthcare. Raquel isn’t the only one being sued, there are more than 8,300 lawsuits filed against patients for unpaid medical bills over five years.

If you think a hospital won’t sue you unless the amount is large enough, talk to Raquel Nelson or one the other 8,300 defendants with court dates. Most defendants sued for medical debts cannot afford a civil lawyer to defend them. Most defendants end up with a money judgment entered against them and a wage garnishment filed with the court and served on their employer’s payroll department.

You can stop lawsuits by hospitals with the protection of Bankruptcy Laws. For example, the Automatic Stay provision is a law that prohibits a creditor or collector from continuing any collection activity. A bankruptcy filing will also stop a wage garnishment. The money judgment entered against you in court can even be eliminated through a bankruptcy discharge.

Chicago Bankruptcy Lawyer Joseph Wrobel can help you today when you dial (312) 781-0996.

Bad Things Happen to Good People: Bankruptcy Laws Can Stop Lawsuits When Hospitals Sue Patients

Car accidents involving uninsured and underinsured motorists can leave injured victims high and dry, with no money to pay medical bills. Especially when your injuries are severe and you required surgery and rehabilitative care, the hospital bills can be tens of thousands of dollars.

Job losses and layoffs affect people’s budget and ability to make payments on medical bills. Plenty of people with medical debt can prevent collection activities by negotiating a monthly payment amount people can afford. If something happens that affects the ability to pay, like a job loss or layoff, you might end up getting sued by the hospital.

Why Collection Agencies Are Ineffective at Getting Hospitals Paid

Hospitals don’t write off as many bills as you may think. Check out this Modern Healthcare article, A Closer Look at Hospital Write-Offs.

A collector does not pose much of a threat if all they are going to do is continue harassing you. Collection agencies must follow debt collection practice laws. These are federal laws with serious penalties. More people are reporting bill collectors to the federal agencies who police them. As a result, collection agencies are changing their practice and might be less effective and hospitals are avoiding them and directly collecting and filing lawsuits.

Read Our Blog: How the FDCPA and the Automatic Stay Help Stop Bill Collectors From Harassing You

Chapter 7 Bankruptcy Can Help You Discharge Medical Bills with a Chicago Bankruptcy Lawyer

When most people think about a bankruptcy case they are looking for Chapter 7 Bankruptcy. Chapter 7 requires you to qualify. If, for example, your income is more than allowed in Chapter 7, you can file a Chapter 13 bankruptcy.

If you are being sued or your wages are being garnished, you can stop the lawsuit and a wage garnishment with a Chapter 7 Bankruptcy and its Automatic Stay, stopping creditors and collectors in their tracks.

Chapter 13 Bankruptcy Can Help You Repay a Portion of Your Medical Bills Over Years and Chicago Bankruptcy Lawyer Joseph Wrobel can help You Today

Chapter 13 is the bankruptcy plan where you repay a portion of your debts over a three to five year period. In Chapter 13, you are allowed to keep your house, car, and personal possessions that might otherwise need to be sold or liquidated in a traditional Chapter 7 Bankruptcy.

Just like Chapter 7 Bankruptcy, a lawsuit, money judgment, and wage garnishment will also be stopped by the Automatic Stay when you file a Chapter 13 Bankruptcy. Call Joseph Wrobel, your Chicago Bankruptcy Lawyer (312) 781-0996.

Read Some Words from Happy Clients who Hired Joseph Wrobel for a Fresh New Start

“We hired Joseph Wrobel during one of the worst times in our lives…Bankruptcy. He was very knowledgable and honest. He responded to emails immediately, answered every question we had, no matter how small and always made us feel at ease. From the very first meeting with him until the end of our bankruptcy case, we knew we could depend on him. We’re very thankful for his expertise and would highly recommend him to anyone out there looking for legal assistance.” Scott and Lisa (2013)

Click for more -> Testimonials for Chicago Bankruptcy Lawyer Joseph Wrobel (312) 781-0996

When hospitals sue patients for unpaid medical bills, Joseph Wrobel can help!

Bankruptcy And Your Home, Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7, Bankruptcy Beyond The Basics, Bankruptcy Odds and Ends

Joseph Wrobel Chicago Bankruptcy Podcast: August 2019

August 14, 2019 J. Wrobel Leave a comment

Podcast: Listen to the August 2019 Bankruptcy Q&A With Chicago Bankruptcy Attorney Joseph Wrobel

For educational and entertainment purposes Chicago Bankruptcy Attorney Joseph Wrobel answers real people’s questions in this question and answer podcast about bankruptcy and consumer finance issues and problems. Joseph Wrobel wants everyone to be financially successful. At times a Chapter 7 Bankruptcy (full discharge) or a Chapter 13 Bankruptcy (3-5 year repayment) is the solution to your financial woes. There are other times you may not need to file for bankruptcy. Joseph Wrobel is here to help you figure out the best way out of your financial problems.

When you have a fresh financial start and don’t owe so much of your paychecks to creditors you are in a good position to save money and rebuild your credit. People are amazed by how easy it can be to have great credit again after they have financial troubles. We help you with everything.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Too often people are scared to use the bankruptcy laws to help them. There are all kinds of myths about bankruptcy and you should know the truth.

Read our blog article on our Chicago Bankruptcy Blogger page, Myths About Bankruptcy in Illinois: Debunked by Joseph Wrobel.

Listen to this podcast as Chicago Bankruptcy Attorney Joseph Wrobel answers real questions about bankruptcy from real people all over the country. Below are summaries of the questions and answers. Note that this is not legal advice, these are general answers based on the information provided. Actual legal advice must take place in the office of an attorney you hire for legal advice. If you need legal advice, please call Joseph Wrobel, Ltd. in Chicago at (312) 781-0996. We have offices all over the Chicagoland area and suburbs so it is easy to come to see us and get answers to your questions.

Vehicle Title Issues

Question: How can I get the title to a vehicle from the bank a year and a half after I filed for bankruptcy? The bank did not want the vehicle back.

Joseph Wrobel: If the car has value and you want to sell it you will not be able to sell it without the title. You could also keep the car and junk it when you are done driving it when you no longer want it or it no longer runs. In the podcast, Mr. Wrobel explains in more detail what documentation might be required by a salvage yard.

Question: Can the lender tack the debt owed on one vehicle to the other we have on the same account with the bank? We declared bankruptcy more than a year ago. With our credit union, we had payments and loans for both vehicles. We were thinking of relinquishing one of the vehicles to the credit union. If we do that can the credit union add that balance to the other loan for the vehicle we want to keep?

Joseph Wrobel: The credit union may have special provisions that say that the collateral for one loan also applies as collateral to the other loan.

Property Lien Issues

Question: Can the bank put a lien on my current property if they foreclose on my rental property? I bought my home in 2007. Then I bought another house and rented out my first house. My renters damaged and abandoned my rent house. Should I just let the bank foreclose on it and get out of the mortgage for the rent house? If they do foreclose on the rent house can they put a lien on my newer house where I am living? If I have to do anything, I have $30,000 in savings.

Joseph Wrobel: There is a Chapter 7 exemption that may apply if you qualify. If you file for Chapter 13, you might surrender other property and get into a plan to repay your debts. This would help you avoid a deficiency judgment and tax on the loss of the lender. Listen to the podcast for more detail from Chicago Bankruptcy Attorney Joseph Wrobel.

Out of State Collection Activity Issues

Question: Can an out of state collector sue me in a state in which they do not operate? I live in NJ and am being harassed by a debt collector from OH.

Joseph Wrobel: Yes, but they cannot sue you out of state in OH unless that is where you were when you signed for the debt. Meanwhile, nothing prevents them from suing you where you live in NJ. They will likely hire contracted attorneys in your state to sue you and attempt to collect a money judgment.

Financial issues cause stress. Read this article: 5 Strategies to Deal With Financial Stress.

Concerned Wife and Spouse Issues

Question: Can my wife stop a foreclosure? My wife is not on the deed for the house even though we have been married for 10 years and file joint tax returns together. I have a mortgage foreclosure sale coming up in three weeks. Can my wife file a Chapter 13 Bankruptcy or a Chapter 7 Bankruptcy to stop the foreclosure sale? I have filed for bankruptcy twice already in the past.

Joseph Wrobel: If your wife is not named on the mortgage, any bankruptcy case she files will not affect anyone else’s property, including yours, even though you are married to her and file joint taxes. While she does not need to be on the title (on the deed) to affect the mortgage, she does need to be named on the mortgage loan agreement.

Insurance Coverage Issues

Question: Is the pending cancellation of my car insurance policy stopped by my filing bankruptcy to get the advantage of the automatic stay provision?

Joseph Wrobel: No, the automatic stay stops collection procedures but does not prevent an insurance company from canceling your insurance.

New Loan and Lender Issues

Question: Can I get a new loan if I am making payments to my lawyer to file my Chapter 7 Bankruptcy?

Joseph Wrobel: If you are making payments on attorneys fees to your lawyer and your bankruptcy will not be filed until you pay your attorney in full, then there is nothing to stop you from getting a new loan. However, if you incur new debt just before you file the bankruptcy, it is a bad idea. The trustee may not allow you to discharge the new debt, especially since you knew you were going to file for bankruptcy and had been making pre-payments to your attorney.

Read our article on our Chicago Bankruptcy Blogger page, Bankruptcy Court: Go Ahead and Make Their Day (The last thing you want to do is lie to the bankruptcy court.)

Chapter 13 Bankruptcy Repayment Issues

Question: I understand I can file for Chapter 13 Bankruptcy and get a five-year repayment plan. But what happens if I lose my job and cannot make the payments?

Joseph Wrobel: You may want to convert a Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy and discharge their remaining debt. Whether this is your best option depends upon why you filed a Chapter 13 and not a Chapter 7. Did you have a prior Chapter 7 filing? Did you have too much equity in an asset?

Call Joseph Wrobel in Chicago to learn more about how and when to file a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Our main number in Chicago is (312) 781-0996.

Foreclosure Summons Detail Issues

Question: What happens if the name listed in the foreclosure summons is not my name because it is misspelled? My last name is spelled wrong. Are these grounds for dismissing their foreclosure case? What can I do?

Joseph Wrobel: This is what is known as a “di minimis error” and is easily correctable if you were to challenge the validity of the summons.

Avoiding Foreclosure Sale Issues

Question: Can I stop a foreclosure auction by filing a Chapter 13 Bankruptcy only three days before the sale?

Joseph Wrobel: Yes, absolutely you can stop the foreclosure auction and save your house by filing for Chapter 13. You MUST have the petition filed with the Court before the auction sale. If you were to wait until after the foreclosure auction sale, you will not be able to save your home if that is your goal for filing a Chapter 13 Bankruptcy petition.

Bankruptcy and Credit Report Issues

Question: If I filed a Chapter 13 Bankruptcy and it was immediately dismissed, can I get that removed from my credit report? I filed Chapter 13 to protect my home from being foreclosed when I was behind on my mortgage. Luckily I was able to work out a payment plan with the lender mortgage company and no longer needed the Chapter 13. I cannot increase my credit score at the moment because of the bankruptcy filing showing up on my report.

Joseph Wrobel: Your credit report is a history of your credit. You cannot change it and you cannot remove the bankruptcy filing information, that will be present for 7 years.

Bankruptcy Case Time Issues

Question: How long does the Chapter 7 Bankruptcy process take from start to finish?

Joseph Wrobel: About 4 months.

Do I Need Bankruptcy Issues

Question: My son is 27 and has about $25,000 in medical and credit card debt. How can we figure out whether a Chapter 7 Bankruptcy is a good option for him? My son lives with us and he owns no property.

Joseph Wrobel: Maybe a Chapter 7 Bankruptcy is a good idea. Assuming your son has no other assets, and he can pass the income test for Chapter 7, this might help him out depending on his financial situation. Other options might be repaying enough of the loans in enough time to avoid bankruptcy. When creditors are facing getting zero dollars because the debt was discharged, they might be more likely to make a deal for less than the amount owed or a payment plan over time that makes the debt payments more manageable while your son works to earn more money and get ahead financially.

You might also like this article: Why You Should Never Cosign for Your Kids

What Are the Financial Questions that Keep You Up at Night?

Don’t Waste More Time in Anxiety: Call Joseph Wrobel, Ltd. (312) 781-0996

Joseph Wrobel and his staff at Joseph Wrobel, Ltd. are ready to help answer your questions about financial problems and solutions. If bankruptcy is a good option for you, they will help you figure that out. Don’t waste another day being harassed by creditors. Use your right to the automatic stay: it stops bill collectors in their tracks.

We hope you find this information helpful. We host and share these podcast interviews and summaries about questions and answers about bankruptcy every month. You can also find more information by searching our website. Thank you for reading and sharing our podcast interview summary!

Want to listen to more of our Chicago Bankruptcy Question and Answer Podcasts? Find this episode, August 2019 Chicago Bankruptcy Question and Answer Podcast with Joseph Wrobel, and all our episodes on the Chicago Bankruptcy Update channel on the Blog Talk Radio network.

Bankruptcy Odds and Ends, Consumer Finance, Uncategorized

Beware of Scams on Facebook Marketplace: Tips to Protect Yourself and Others

August 8, 2019 J. Wrobel Leave a comment

Example and Video from a Scammed Mother Shopping for a Television on Facebook Marketplace

Watch the video: Avoiding Facebook Marketplace Scams

“It Wasn’t Worth it,” said the woman who lost $250 to a scammer on Facebook Marketplace. The seller had a 65 inch smart TV for sale for $250. The buyer got the tip from a friend who said they recognized the seller on Marketplace as a high school friend. The seller acted with urgency, asking the buyer to send her the money using Venmo, a mobile payment service owned by PayPal. “There was a need to act fast.”

After the buyer sent the money, the excuses started rolling in. The buyer was not able to get the television. After many days passed, thy buyer asked for a refund. The seller said the money was already spent on bills.

Law enforcement says that if it sounds like it is too good to be true, it probably is. And if you are suspicious of anyone selling an online item, move along to the next seller.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Security Concerns when Buying from Any Online Marketplace

There are several ways a con may try to get your personal information. From giving information about yourself in conversation to giving out your email or phone number, you may be giving more clues to someone than you expect. People may prefer to communicate through Facebook Messenger or a similar program instead of giving email or phone numbers that can be Googled for more information about you.

By sticking with a messenger program you know and trust, you can block anyone who seems up to no good or with whom you no longer want to communicate.

CNN Tips: 10 ways to stay safe when buying and selling online

Never Meet at Your Home or Workplace, Always Meet in Public

When buying or selling with someone you don’t know, use a designated public meeting place that is well lit, where there will be other people and security cameras. Call your local police or fire station and ask them if they know of any recommended spots to meet up with Facebook Marketplace buyers and sellers.

After you leave, make sure you are not followed home. Sophisticated crooks may use more than one vehicle and as one is leaving, the other is following you. It’s always good to vary your route home or make another stop somewhere safe and keep an eye open to make sure you were not followed.

Exchange Cash for Goods at the Same Time

Do not give someone your item and allow them to make payments later because the likelihood is they will never pay you. This is a common scam. Also, don’t fall for the “check in the mail” bit because it is usually a con.

Is the cash counterfeit? Is their check any good? How about cash? What about a bank check? Consider your comfort level in receiving secure payment in your transaction. If you are comfortable using a mobile payment method, do it on-site and give the person the item once you have received confirmation you received the money free and clear.

Does Something Seem Not Right About Your Buyer or Seller?

Especially when people say they are in the middle of moving to our out of state, be on alert for scammers. While there are many honest people who do buy and sell things like couches and televisions while moving, this is a perfect story to spin to a scam victim.

When using Facebook Marketplace you can view the person’s profile. You may have to add them as a Facebook friend to see more detail. Try asking if you don’t mind adding them as a friend before setting up the sale. Look for the same red flags you would if you received a friend request with someone who has no friends, has a brand new profile, or something else just does not seem right.

Know What You are Buying or Selling and What it is Worth

You may see someone selling a vehicle on Facebook Messenger telling you they just moved into the city and no longer need it, or need to raise money to pay for a court fine or child support. Beware, even though people may need to buy or sell quickly, they usually do not buy or sell things way over or under fair market value.

Do some research and look up what similar items are worth on various sites, including Craigslist, where you should also beware of shady buyers and sellers.

Great website – the nest – Read: How to Determine Fair Market Value of Household Items

Do Not Assume Other People’s Payments on Financed Items, Vehicles, or Property

What if you just got a new job and need a different vehicle to get to work. Maybe your credit is on the rebound and the car dealerships can’t help you. While it may be tempting to agree to take over another person’s payments on something, you should be very careful. Without understanding contract laws and remedies, you could end up getting in trouble. You might accidentally enter into a contract to receive stolen goods.

Here’s the link to search for “scam” and find related blog articles on our website, ChicagoBankruptcy.com

With too many scary examples to list, we recommend you stop and call Joseph Wrobel and talk to him about a concern that something may be a scam. Please also share this information with your friends and family who might be too trusting and need some street-smart tips on safety when buying and selling on Facebook Marketplace or anywhere else online.

Chicago Bankruptcy Attorney, Joseph Wrobel Wants You to Be a Safe Consumer

While our law firm is focused on bankruptcy protection, that is only part of our mission. We want everyone who knows us to come to us for tips and advice on buying, selling and making the best financial decisions for a bright and prosperous life.

For answers to any bankruptcy or consumer financial questions, call us at Joseph Wrobel, Ltd. at (312) 781-0996 and please remember to share this article with others and be smart buying and selling on Facebook Marketplace.

Bankruptcy And Your Home, Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7, Bankruptcy Beyond The Basics

Myths About Bankruptcy in Illinois: Debunked by Joseph Wrobel

June 26, 2019 J. Wrobel 1 Comment

Chicago Bankruptcy Lawyer Joseph Wrobel Debunks Myths About Bankruptcy in Illinois

There are all kinds of myths about bankruptcy and the truth about bankruptcy gets more appealing when people learn how a bankruptcy case actually works. You can ask for a Chapter 7 full discharge or a Chapter 13 partial discharge and repayment plan. If you need to keep your home and car, we have options for you. When searching online for information about how bankruptcy in Illinois works, it is important to get your information from an experienced Chicago bankruptcy lawyer who can dispel myths about bankruptcy in Illinois.

Myths About Chapter 7 Bankruptcy in Illinois

People worry about losing their property in bankruptcy in Illinois. Do not worry, because most of your important property asset exemptions. The Illinois Homestead Exemption allows you to keep up to $15,000 in equity in your home. The Illinois Motor Vehicle Exemption up to $2,400 in one motor vehicle is also allowed. You can also keep personal property up to $4,000. There are also exemptions for a list of additional categories.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Read our blog article, Bankruptcy Exemptions in Illinois to learn more about keeping your property in bankruptcies.

Myths About Chapter 13 Bankruptcy in Illinois

Despite myths, you can keep your house and save your mortgage with Chapter 13 bankruptcy. In a Chapter 13 you will repay a portion of your debts over a three to a five-year repayment plan. People might also think they do not qualify for a Chapter 13 bankruptcy because they make too much money. When people are looking for a Chapter 7 bankruptcy but they make too much money, they can file a Chapter 13 and enjoy its many benefits.

You can dismiss your bankruptcy at any time if your financial situations change, even if you are still in your Chapter 13 plan. You can also sell your home while in Chapter 13.

We answer all the myths about bankruptcy in Illinois in our article, What Everybody Should Know About Chapter 13 Bankruptcy.

Credit Rebuilding Myths Debunked

Bankruptcy will affect your credit score but it is not forever. Actually, Chapter 7 is on your credit report for 10 years and seven years for a Chapter 13. Meanwhile, despite what some think, your credit score can be repaired. After your bankruptcy discharge, you can get a secured credit card and start rebuilding your credit. The more you use credit responsibly, the quicker your score will rise.

People worry traditional credit card companies will never give you credit. Actually, as you rebuild your credit and you have fewer creditors after you, you are a better credit risk. A credit union knowing you had a bankruptcy, can make car loans based on your credit score and your current financial position.

Many people who had a bankruptcy get approved for mortgages within a few years of their bankruptcy. The Non-Prime Lenders website offers information about mortgage after bankruptcy.

Read our article, Good Credit After Bankruptcy

Housing and Apartment Rent Myths

People are worried about renting or buying an apartment or house after bankruptcy in Illinois. Do not worry about being out on the street. You can certainly rent a home or apartment after a bankruptcy, even if your credit score is not where you want it. Many larger rental companies frequently work with people in a bankruptcy or who recently completed a Chapter 7 or a Chapter 13 case. Sure, some smaller rental companies and individual owners with properties could deny you. But most will charge you a larger security deposit or ask for a co-signer. It is very rare to hear a case of someone not being able to rent a place to live during or after bankruptcy.

Some say you will never qualify for a mortgage after bankruptcy, and they are wrong. When you have more money to pay your bills, it can be easier to rebuild a good credit score for a mortgage in a few years. When you no longer have debts you are unable to pay, you are a better credit risk. If you are renting, you can improve your chances to get a better mortgage and lenders have options for buyers who had a bankruptcy.

The Myths About Employment and Bankruptcy

No, your employer cannot fire you because you filed for bankruptcy. Nor can an employer change anything about your employment because of a bankruptcy.

Public, government agencies may not use bankruptcy in the hiring process. Private employers are not likely to make hiring decisions based on whether someone had a bankruptcy. Private companies may ask to check your credit. While there may be certain special employment positions where bankruptcy could be a problem, for most people this is not a problem.

One of the common reasons people do file for Chapter 7 or Chapter 13 bankruptcy is to avoid pending wage garnishment. Through the process of taking advantage of the bankruptcy laws to stop a wage garnishment, the employer receives a notice of the bankruptcy.

Check out this ForRent.com article, Can You Rent an Apartment after Filing Bankruptcy?

Call Joseph Wrobel, Ltd. at (312) 781-0996 to Learn Answers to Myths About Bankruptcy in Illinois

Whatever your questions or concerns are about bankruptcy, call Joseph Wrobel. Ltd., the Chicago Bankruptcy Law Firm. Joseph Wrobel has been practicing consumer bankruptcy law for many years and has seen and heard just about everything. How do I start?

Every question you have is a good question. Call us to learn answers to myths about bankruptcy in Illinois by dialing (312) 781-0996.

Bankruptcy And Your Home, Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7, Bankruptcy Beyond The Basics

We Wish Everyone a Happy Father’s Day in Chicago

June 14, 2019 J. Wrobel Leave a comment

Joseph Wrobel, Ltd., the Chicago Bankruptcy Law Firm Wishes Everyone a Happy Father’s Day in Chicago

While some say every day should be Father’s Day in Chicago, local dads take the opportunity to relax and enjoy their children and families. With all the rain and growth this spring and early summer in Chicago, dads all over the city and suburbs have logged more than average hours mowing and doing yard work to keep up.

Whether you are in good financial shape or considering financial relief from a Chapter 7 or Chapter 13 bankruptcy, you can have a great Father’s Day Weekend in Chicago with your kids and family! Wondering how to get started with bankruptcy and stop the collectors? Learn how to get started with bankruptcy.

Father’s Day in Chicago Activities

Chicago dads who love watching the Cubs or White Sox with their kids have games lined up all weekend. In Chicago, dads watch baseball with their sons and daughters, and many of them have their favorite ballplayers and baseball traditions. The forecast may call for rain so watching the game indoors or under a covered patio.

Here are some more ideas for making memories this Father’s Day in Chicago:

Go to a horse race at the Arlington International Racecourse. They have more than horse racing and betting, with kid-friendly activities appropriate for all ages, including a petting zoo and carnival activities.
Play catch with Dad on the Chicago Dogs’ Impact Field! Get there early because you have from 11 a.m. to 11:45 a.m. to get out there and play catch on the field before the Chicago Dogs game that starts at 1:05 p.m.
Head to Ravinia in Highland Park for the folk trio, Peter, Paul, and Mary. They perform at 7 p.m. at the Martin Theater indoor stage.
In South Elgin, the Fox River Trolley Museum is a must-visit attraction. Taking a trolley ride is great for family pictures and memories.
Get your hands on Hamilton tickets at the CIBC Theatre in Chicago. The biomusical about Alexander Hamilton is a must-see and provides for all kinds of follow-up discussion topics.

The Role Father’s Play in our Lives

Fathers teach their kids how to be good people. Fathers teach their children how to be team players and leaders. They show their sons and daughters how to love and respect themselves and others. Fathers are superheroes to their children.

As a father, you have to be like a superhero to always make your children feel safe, no matter what. Good parents keep their kids reasonably sheltered from adult problems. Financial troubles and strain can negatively affect kids who may have never otherwise thought or worried about money. So to all the dads who make it through tough times while wearing a strong face, you all deserve a great Father’s Day weekend with your families.

Fathers Handle Financial Stress and Pressure, Sometimes Bankruptcy

Financial emergencies happen to good people. Good Dads can lose their job. Great dads never let the kids see them sweat financial difficulties. Parents who discuss money in front of the children may be creating an unnecessary level of anxiety in children who don’t need to worry about adult matters. For example, children who do not understand what bankruptcy is could be upset about worries in their minds that they don’t share. Kids may not understand that bankruptcy does not mean ruin and it does not mean they will have to give up all their possessions. Who knows what kids might think if they overhear mom and dad talking about money problems and bankruptcy.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Read about Chapter 7 Bankruptcy Debt Discharge on Our Website

Understand how Chapter 13 Bankruptcy Repayment Plans Can Be a Great Option

If you are facing a financial situation that includes a bankruptcy filing, or something is changing at home because of money, keep an eye on your kids. You know how to hint around at things and fish for their questions. You might also make a light mention of making some changes that are better for the family.

In any event, talk to others and look up advice from experts about dealing with parenting and financial issues and questions. At the very least, an effort to hide finances from children might make everyone happier.

Learning Financial Tips and Information from Fathers

Dads should teach their kids what they have learned and what their fathers taught them. For example, saving some of your paychecks for emergencies and future needs is something that starts early. When grandmother gives you money for your birthday, take some of it and put it in the piggy bank or savings account. Piggy banks are great because they get heavier and louder the more you fill them up.

Teaching children to earn their own money is important. Parents who gave their kids everything without them learning to work and earn may not be helping their children learn about earning money. The young kids who mow lawns and walk dogs for extra money can save up for things they want. You may be surprised how many kids get ideas on how to make money and start small businesses. Supporting your son or daughter’s lemonade stand today can give them the confidence they need to do whatever they want in the future.

Financial realities can change. Fathers can help their kids prepare for the reality of financial uncertainty. Explain with a game of Monopoly this Father’s Day Weekend in Chicago and let your kids understand money comes and money goes. What you do with the money in between sets up you up for security or peril. These are all good life lessons to teach children.

Happy Father’s Day Weekend to all Dads from Joseph Wrobel, Ltd., the Chicago Bankruptcy Firm

When Chicago area fathers need to take advantage of the bankruptcy laws to protect their families, they can call Joseph Wrobel, Ltd., with convenient offices located in the Chicago-Loop, Chicago-Rosemont, and in the suburbs of Burr Ridge, Deerfield, Gurnee, Naperville, Orland Park, Schaumburg, Skokie, St. Charles and Westchester. They can represent Illinois clients in Cook County, Will County, DuPage County, Kane County, LaSalle County, Kendall County, and Lake County.

For a free consultation for bankruptcy information after Father’s Day Weekend in Chicago, call Joseph Wrobel, Ltd., at (312) 781-0996.

Bankruptcy And Your Home, Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7

Chicago Bankruptcy Question and Answer Podcast with Joseph Wrobel for May 2019

May 10, 2019 J. Wrobel Leave a comment

Real Chicago Bankruptcy Questions and Answers!

Learn what you may not know about Chapter 7 and Chapter 13 Bankruptcy in this podcast. Listen to real questions from people trying to get out of financial trouble. People don’t always need bankruptcy to free them from financial troubles.

Please be kind and share this blog post and podcast with your social media friends, letting them know to check this blog post and podcast out if any of them want to learn about the protection against financial problems with the bankruptcy laws.

Listen and learn. Call Joseph Wrobel directly in Chicago at (312) 781-0996

Chicago bankruptcy and consumer credit attorney Joseph Wrobel shares news and updates in bankruptcy law as well as business and consumer financial matters. It has been documented that financial troubles can cause all sorts of ailments, the most common of which is sleeplessness. Joseph Wrobel helps clients alleviate their anxiety created by the inability to pay bills and the embarrassment of financial distress.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Have you checked out NerdWallet? Here is their article suggesting when bankruptcy is the best option. Also, check out some of their tips on credit repair!

Questions and financial problems covered in this 30-minute Chicago bankruptcy podcast:

A bank is suing me for an unpaid loan and I was just served with papers. What can I expect and what will happen if I do nothing?
I am preparing for bankruptcy and want to return my vehicle to the bank instead of keeping it with a Chapter 13 bankruptcy repayment. It has some dents, does it matter whether I fix them?
Am I going to be responsible for paying bill collectors who bought my charged off accounts from 8 years ago? What can they do to me?
Can I get a temporary stop on my wage garnishments because I just had surgery and am not working and have no income?
My wife and I jointly own our home. Can I file bankruptcy, just on my own without my wife, and keep my home and my car if my payments are up to date? Do I need Chapter 7 or Chapter 13?
I want to file for Chapter 7 Bankruptcy. My parents give me money for my car payment every month. Does that affect my bankruptcy case and is this money considered income?
What happens to my student loans if I file for bankruptcy?
Can I finance a motorcycle before filing for Chapter 13 Bankruptcy?

You can listen to this podcast and many others like it directly on the Chicago Bankruptcy Law Firm’s Podcast Channel on the Blog Talk Radio Network!

Sign up for our newsletter to receive great updates and information about bankruptcy and general consumer financial information.

Chicago bankruptcy lawyer, Joseph Wrobel, has been a practicing attorney since 1973 and has experience in a wide variety of law relating to legal matters for individuals and families. Wrobel helps clients get out of debt and get a fresh start. He is an active member in several bar associations and the Bankruptcy Panel of Pro Bono Program of the Chicago Volunteer Legal Services. After serving the U.S. Army Reserve 363rd Civil Affairs Unit, Wrobel earned a B.A. in Psychology from Northwestern University and in 1973, he earned a JD from DePaul University Law School.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews from people who hired Chicago bankruptcy lawyer Joseph Wrobel to get rid of bad debt and get a fresh financial start.

Visit our Chicago Bankruptcy website online for more about the firm or call for more information at (312) 781-0996 or e-mail at JosephWrobel@ChicagoBankruptcy.com.

Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7, Bankruptcy Beyond The Basics, Consumer Finance

500 Jobs Cut: May Need Career Retraining After Job Cuts and Bankruptcy May Be a Great Option

April 12, 2019 J. Wrobel Leave a comment

500 Jobs Cut: May Need Career Retraining After Job Cuts and Bankruptcy May Be a Great Option

News reports say nearly 500 employees in the Chicago-area working for MB Financial Bank will be out of a job soon. The MB Financial job cuts are happening because Fifth Third Bank recently acquired MB Financial Bank in a $4.7 billion merger. 493 layoffs are expected in May, most of the job cuts taking place at the MB Financial location in Rosemont, and about a dozen in the downtown Chicago MB corporate headquarters. For many reasons some of the people who lose their jobs with MB Financial will need career retraining after job cuts.

A bank spokesman reported that most of the layoffs are coming in the next four months and others will occur over time through the rest of 2019 and 2020. The reason for the job cuts is a cost savings of $255 million, in part from closing one in five bank branch locations.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

Trends we can follow after job cuts are announced indicate that more customer service jobs are going away because of the Internet and automation technology. If automated telephone answering software can understand you and help with basic account information and customer service, there is less need for a customer service representative. Likewise, if more people can get their banking information and handle basic transactions on their computers, handheld devices, and ATMs, the need for human customer service professionals decreases.

Could You Pay the Bills While Looking for a New Job?

The recent US Government Shutdowns were shocking to many people because they were unable to pay their rent, mortgages, credit cards, and utilities. Even though the federal employees temporarily laid off from their non-essential government positions were going to receive back pay, their cash flow was interrupted.

Could you pay the bills if you suddenly had to live without getting a paycheck on time? You may be able to get away with only paying the minimum due amounts on credit cards, and getting a month behind on utilities, but most likely you cannot get along too long without substantial savings.

Many of the workers affected by shutdowns waited for the government to reopen, and others immediately started looking for a new job. If you cannot pay the bills after a job cut you might be facing evictions, foreclosures, credit account default, and the shutoff of utilities.

Read our article about this problem: Bankruptcy for Unpaid Workers

Bankruptcy Protection: Chapter 13 Reorganization

There are two types of bankruptcy protection available to consumers with debts they cannot pay. First, Chapter 7 Bankruptcy helps to wipe out and discharge the responsibility to pay dischargeable debts. Note that not all debts are dischargeable. For example, child support is not a debt you can discharge in a bankruptcy case.

Second, a Chapter 13 Bankruptcy is referred to as a wage earner’s plan. People with regular income can use Chapter 13 to develop a plan to repay a portion of their debts over a three to five year period. The problem workers facing job cuts may face is not having the regular income to qualify for a Chapter 13 Bankruptcy, also referred to as a “reorganization” bankruptcy. It is important to talk to an experienced bankruptcy attorney to learn how you can qualify for either Chapter 7 or Chapter 13.

When you contact Joseph Wrobel, Limited at (312) 781-0996 you can share more information about your financial circumstances and get a better idea which bankruptcy laws you can take advantage of to help get you out of debt.

Stop the Bill Collectors with the Automatic Stay

One of the most exciting advantages of a bankruptcy filing is the Automatic Stay provision that stops collectors in their tracks. Simply put, when someone files for bankruptcy, creditors may no longer pursue any collection activity. Therefore, during the bankruptcy case, whether you have a Chapter 7 or a Chapter 13, the bill collectors cannot communicate with you at all. No more phone calls, no more threatening letters.

The immediate ceasing of collection activity is just the first benefit of bankruptcy that many people can enjoy. Too often when people think about bankruptcy, they imagine companies going out of business and empty buildings. For consumers, bankruptcy is a right and a law designed to give people a fresh start, a chance to get back in control of money and finances.

Most people who file for bankruptcy will tell you that the anticipation of filing for bankruptcy was more stressful than actually moving forward and filing for Chapter 7 or 13. You may have a variety of questions about job cuts and bankruptcy.

Job Retraining Programs, Online, and Trade School Options

The chances are that some of the MB Financial employees losing their jobs are going to need career retraining after job cuts so they can get a new position, in a new career track. Workers in positions being reduced or replaced by technology and automation can change directions and pursue retraining for new positions that will be in demand and not in immediate danger of being cut.

When looking into career retraining options, consider some of the following steps you can take to make more money and increase job security:

Take a class to explore a new career field, to update a specific job skill or learn a new skill to make you more appealing to employers. By taking a class after being out of school for years, you show employers that you are flexible and interested in learning new skills.
Short-term training for new jobs is something you can pursue through certification programs, and certificate programs at local schools.
Begin a degree program and switch careers. You can plan your education and enroll in a degree program using financial aid tools which can also help pay for living expenses while pursuing higher education. Job cuts can be a disguised blessing.

Getting Financially Fit with Joseph Wrobel, Limited, the Chicago Bankruptcy Law Firm (312) 781-0996.

Even with bad news of job cuts, there are good opportunities behind the scenes. Some who wish for a higher paying job or career with more opportunities may get their wish in a job cut situation. The nearly 500 employees at MB Financial Bank can take advantage of one of their bankruptcy options while also pursuing retraining opportunities. To learn about bankruptcy or get some tips and leads on career retraining after job cuts, call Joseph Wrobel, Limited in Chicago at (312) 871-0996.

Bankruptcy Basics - Chapter 13, Bankruptcy Basics - Chapter 7

Had Enough Debt? Bankruptcy Options: Chapter 7 & Chapter 13

April 6, 2019 J. Wrobel 1 Comment

When Good People Fall Behind We Have Bankruptcy Options: Chapter 7 & Chapter 13

Car accidents happen when we least expect it. Hospital bills continue coming in the mail and it seems you owe more and more people every day. When you cannot pay your bills, your credit can suffer. You may have to use Bankruptcy to wipe out that debt to restore your good credit rating. It can take some time but it’s worth it.

Most families rely on at least two income sources to pay the mortgage or rent, and bills every month. The true cost of living in Chicago is significant. How long could you continue without a paycheck for a month or more?

You try to work with creditors and they get even more aggressive. They are not as sympathetic to your tales of woe, they hear it day in and out. More and more people use one of their bankruptcy options like Chapter 7 or Chapter 13 Bankruptcy.

Chicago Bankruptcy Lawyer Joseph Wrobel Can Help You Today at (312) 781-0996

ABOUT CHAPTER 7 BANKRUPTCY

ABOUT CHAPTER 13 BANKRUPTCY

The Stress of Paying Minimums and Barely Making It

The cost of living rising faster than wages makes it more difficult than ever to get ahead. Even with an adjusted expectation of the American dream, it seems impossible to save enough to get ahead. With added interest on unpaid debts, the balances due become ridiculous and people know they’ll never pay it off. Some ignore some bill collectors and eventually the calls stop. Then one day a new company picks up the debt and the phone with your number.

A Chapter 7 Bankruptcy Can Eliminate Your Debts. A discharge applies qualified debts that you can eliminate in full when you qualify. To qualify, you have to pass the Means Test. Joseph Wrobel, Limited can help explain it all.

Or Use Chapter 13 Bankruptcy to Keep Your Home, Car and Reorganize Portions of Debt. Chapter 13 is the “reorganization” bankruptcy option to repay a portion of your debts over a three to five year period.

Creditor and Bill Collectors Endless Harassing Behavior

Yes, there are debt collection laws governing collection activity for debts owed for credit accounts, utilities, loans, mortgages, rent, and other financial obligations. For example, a bill collector is not allowed to call you during certain hours. There are also opt-out provisions and written communications you can send directing how you may be contacted within your rights under the law.

Stop the bill collectors with the Automatic Stay. Bankruptcy options with Chapter 7 & Chapter 13 include the Automatic Stay. Any bill collector or creditor who pursues collection activity against you during a bankruptcy violates federal law. They can’t call you, they can’t write to you, and they can’t garnish your wages or seize your bank account. You are free from creditors and bill collectors and their endless harassing behavior during either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy.

When is Chapter 13 Bankruptcy Better Than Chapter 7 Bankruptcy?

If you don’t qualify for Chapter 7 Bankruptcy you probably qualify for Chapter 13 Bankruptcy. To get a Chapter 7 you must qualify through what is called the Means Test, which involves a calculation of assets, debts and income sources.

Read our article: Qualifying for Bankruptcy in Illinois: The Means Test

Keep certain assets, property, using Chapter 13 Bankruptcy. You may have inherited family heirlooms, cars, property, and other assets and they are valuable to you. Sometimes you can’t put a value on memories and sentimental possessions.

Do I Need to Have Enough Debt to File for Bankruptcy?

People ask me if they owe enough to qualify for Bankruptcy. You do not need to be severely behind or have a mountain of debt a mile high to qualify for a Bankruptcy. Call Joseph Wrobel, Limited at (312) 781-0996 to learn more about the process.

Means testing is what we use at Joseph Wrobel, Limited, to qualify you for Chapter 13 Bankruptcy or Chapter 7 Bankruptcy. When you come and meet with us, we can tell you whether we can put you in Chapter 7 or 13 and then you decide which bankruptcy options fit your needs.

What Happens After Bankruptcy, Will I Get Good Credit Again?

Lending people money is good for the economy and business growth, and after bankruptcy, you are a better lending risk because you have less or no debt. Get a secured credit card because you put the deposit money up front so you are automatically accepted. Use only a portion of the balance available on the new credit card and pay it down to a lower amount just before the end of the closing date. We can help you with all kinds of credit rebuilding tips right here on the Joseph Wrobel, Limited website.

Read our article: Good Credit After Bankruptcy

Credit rebuilding after Bankruptcy is easy and rewarding. Whether you use your right to either of your bankruptcy options in Chapter 7 or Chapter 13 you are going to be in a better position to rebuild your credit after your bankruptcy is discharged, however, you file. People often say the anticipation of rebuilding their credit was worse than actually doing it.

Why Use Joseph Wrobel, Limited for Your Chapter 7 or Chapter 13 Bankruptcy

Joe knows Bankruptcy. For over 40 years he has helped people be able to sleep through the night again. Over many years, men and women and their families from all over Chicagoland have come to us seeking help for their financial woes. We know that bad financial situations happen to good people, despite their best efforts and hard work.

Call us to find out if bankruptcy makes sense to you. We review your finances to help you understand all your options. At Joseph Wrobel, Limited we want you to be the one to make the decision whether to file for Chapter 7 or Chapter 13 Bankruptcy.

Call Joseph Wrobel, Limited in Chicago at (312) 781-0996 and learn more about your Bankruptcy options, Chapter 7 & Chapter 13 and protect yourself and your family.