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Serial bankruptcy filings initiated to delay creditor action can lead to criminal charges

In United States v. Williams, Case No. 17-2244 (7th Cir., June 6, 2018), the Seventh Circuit upheld jury trial verdict against Charlise Williams on five counts of bankruptcy fraud, resulting in 46 month prison sentence. Read More
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Student loans discharged even when Debtor was not required to make payments on loans

In Murphy v. United States, 15-11240-j7 (Bankr. D. N.M. June 1, 2018), the Bankruptcy Court in New Mexico held that a debtor who was not obligated to make payments on student loans because she qualified for a -0- payment under an Income Based Repaym… Read More
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Supreme Court Sets a Trap for the Unwary Debtor

“One of the ‘main purpose[s]’ of the federal bankruptcy system is ‘to aid the unfortunate debtor by giving him a fresh start in life, free from debts, except of a certain character.’” Lamar, Archer & Cofrin, LLP v. Appling, 584 U.S. _… Read More
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Millions of U.S. homeowners still underwater on mortgages, with Chicago being one of the hardest hit markets

According to the American Bankruptcy Institute:  A staggering number of American homeowners remain underwater on their mortgages a decade after the housing bubble burst, Bloomberg News reported. Almost 4.5 million households — or 9.1 percent — o… Read More
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Illinois among top 10 states for credit card debt.

According to a May 30, 2018 article in Illinois Patch, Illinois is among the top 10 states where residents have the most credit card debt. That’s according to a report released Tuesday by New York Comptroller Thomas DiNapoli. According to the s… Read More
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Parties to a Civil Union Held Eligible to File a Joint Petition

As reported by Rochelle’s Daily Wire on May 23, 2018, Bankruptcy judges in California and Chicago disagree on whether parties to a civil union or domestic partnership are “spouses” eligible to file a joint bankruptcy petition. In the Chicag… Read More
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Bankruptcy Costs Limit Access

According to an article published in Pro Publica, a consumer’s inability to pay attorneys’ fees prevents many consumers from filing for bankruptcy.  This phenomenon has spawned considerable debate about the appropriate “fix”… Read More
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The average American has a credit card balance of $6,375, up nearly 3 percent from last year, according to Experian.

According to the Tribune (1/22/18) Americans are defaulting on their credit cards at the highest rate in nearly a year, and Chicagoans are leading the pack. Chicago residents are now more likely to miss a credit card payment than residents of any oth… Read More
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Ariane Holtschlag Interviewed at ABI Winter Meeting

We are proud to share an exclusive interview conducted by Bill Rochelle of the ABI with Ariane Holtschlag, FactorLaw’s bankruptcy attorney, regarding some of the cutting edge consumer issues in the Northern District of Illinois. Watch the inter… Read More
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Boston Judge Allows Conversion to Chapter 13 Just to Prevent the Sale of a Home

As reported by the American Bankruptcy Institute on December 29 2017, a Boston Judge Allows Conversion to Chapter 13 Just to Prevent the Sale of a Home Consumers are entitled to convert a chapter 7 case to chapter 13 even if the only reason is to pre… Read More
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