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. […]
Protecting Your Home: How Chapter 13 Can Stop Foreclosure in Cook County If you are a Cook County homeowner facing foreclosure, Chapter 13 bankruptcy may offer a powerful legal tool to stop the process and keep your home. Illinois is a judicial foreclosure state, meaning your lender must file a lawsuit and obtain a court […]
Bankruptcy Filings Are Surging: What Chicago Residents Need to Know The numbers tell a striking story. Annual bankruptcy filings totaled 574,314 in the year ending December 2025, compared with 517,308 cases the previous year, representing an 11 percent increase, with non-business filings driving most growth. This marks a roughly 27% increase from 2023 levels. For […]
If you are filing for Chapter 13 bankruptcy in Cook County, understanding the meeting of creditors (341 meeting) is crucial. This mandatory hearing is not a courtroom trial but a brief proceeding where the assigned Chapter 13 trustee asks you questions under oath about your finances, debts, and proposed repayment plan. For filers in Cook […]
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