In an Illinois bankruptcy you may keep an exempt amount of equity in your home. An individual filer can protect up to $15k of equity in their homestead. If married, filing jointly, a couple may combine their homestead exemption up to $30k. If your equity does not exceed the exemption and you are current on your mortgage and are able to continue your payments, you may be able to keep the home in a bankruptcy. Can I use the wildcard exemption in to increase my homestead exemption? The wildcard … [Read more...]
Archives for November 2021
How Can I Stop Creditor Harassment?
Sometimes creditors go too far to collect a debt, crossing the line into harassment. If a creditor is calling you at all hours, making threats, or refuses to provide you with more information, they are in violation of the Fair Debt Collection Practices Act (FDCPA). At a glance, your rights under the FDCPA prohibits a creditor from: Calling before 8 a.m. or after 9 p.m. Contacting you at your place of employment if your employer does not allow it Making misleading, deceitful or … [Read more...]