Filing Fast When Foreclosure or Garnishment Is Days Away Key Takeaways: An emergency Chapter 13 skeleton petition in Illinois is a minimal filing, typically just the voluntary petition (Form 101), a creditor list or mailing matrix, and a Social Security number statement, that generally commences a case upon filing under 11 U.S.C. § 301 and […]
When Life Derails a Chapter 13 Plan: Understanding Early Discharge in Illinois Key Takeaways: A Chapter 13 hardship discharge under 11 U.S.C. § 1328(b) is a discretionary, court-granted release from certain debts for debtors who cannot complete plan payments due to blameless circumstances, such as disabling illness or death of a wage earner. Illinois debtors […]
Removing an Underwater Second Mortgage Through an Illinois Repayment Plan Key Takeaways: Chapter 13 lien stripping may allow an Illinois homeowner to reclassify a wholly unsecured second mortgage as ordinary unsecured debt when the home’s value is fully consumed by the first mortgage. This remedy flows from case law interpreting the anti-modification rule in 11 […]
Understanding Court Permission to Buy a Home During a Repayment Plan Key Takeaways: A motion to incur debt is a formal request asking the bankruptcy court and trustee for permission to take on new financial obligations, such as a mortgage, while your Chapter 13 case remains active. In Illinois, this step is required because a […]
Owning a Home While Repaying Debt: Your Rights as an Illinois Chapter 13 Filer Key Takeaways: Yes, a Chapter 13 debtor in Illinois can often buy a house before discharge, but only with proper court or trustee involvement and a feasible repayment plan. Because Chapter 13 plans run three to five years under 11 U.S.C. […]
"*" indicates required fields
