• FRS Law Group

    (Flinn, Ruble & Salazar)

    Elgin IL: 224-276-6641
  • FRS Law Group

    (Flinn, Ruble & Salazar)

    Sycamore IL: 630-202-1559
  • Donahue & Walsh, P.C.
    McHenry IL: 815-889-2364
  • Granger & Donahue
    Rockford IL: 779-203-9049
  • Cohen & Donahue
    Palatine IL: 847-452-5124
PI Attorneys of Northern Illinois

A Proven Leader In Illinois Criminal Defense And Real Estate Law

Northern Illinois Criminal Defense And Real Estate Law Blog

Credit card debt and minimum payments don't mix

Illinois consumers use credit cards for all kinds of reasons. Some prefer to keep one on hand in case of emergencies while others use them to fund large purchases. But even the most focused consumer can easily find him or herself buried underneath a mountain of credit card debt.

Interest is one of the biggest barriers to getting those credit card balances down to zero, but it is not the only factor at play. Minimum payments also help keep consumers trapped in what seems like a never-ending cycle. Making only the minimum monthly payments means that a person is not only taking longer to pay off his or her balance, but is also paying a lot more interest over time.

What you can and can't keep in Chapter 7 bankruptcy

There may be a lot of apprehension when it comes to filing for bankruptcy, which is understandable. Most people are already in a vulnerable place by the time they realize it is time to take action. One of the biggest concerns that people have is that they will lose everything they own, from their homes to their cars. This is a common misconception when it comes to Chapter 7 bankruptcy, so here is what people in Illinois can actually expect.

Unlike Chapter 13 bankruptcy in which filers create a three to five year payment plan, Chapter 7 involves selling off some of a person's personal property to pay off some of his or her debt. However, this only applies to non-exempt property. A person's exempt property will remain in his or her possession.

Can I get rid of my student loans in Chapter 7 bankruptcy?

It might be hard to find a young adult in Illinois who is not carrying at least some student debt. Not only can these loans be tens or even hundreds of thousands of dollars, they are more difficult to pay back than most people realize -- especially when other debt is involved. Chapter 7 bankruptcy is generally a good option for people who have fallen behind on their bills and have no hope of catching up, but student loans usually cannot be discharged through this process. However, a judge recently decided to eliminate one man's student loan debt.

When he filed for bankruptcy, the man owed more than $221,000 for various debts, including student loans. On top of that, his monthly payments far outweighed his income, leaving him $1,500 short each and every month. The judge overseeing his bankruptcy case considered this and other factors before concluding that his student loans met the requirements for being eliminated.

Which generations could benefit from Chapter 7 bankruptcy?

Talking about money is still pretty taboo, which means that there are a lot of Illinois consumers worried that they are the only ones in over their heads. What most people would probably be surprised to discover is that their situations are not all that unique. According to a recent study, Americans are carrying a huge amount of debt, and some generations might be edging closer to Chapter 7 bankruptcy than others.

The 2019 Consumer Debt Study from Experian shows that the average consumer has $90,460 of personal debt. That debt includes everything from retail credit cards to mortgages. In total, Americans owe $14.1 trillion in consumer debt.

Illinois police arrest woman for drug possession

A woman is in police custody following an alleged drug sale. Following an interaction with a confidential informant, police in Illinois arrested her for possession of a controlled substance with the intent to deliver. A judge set her bail at $25,000, which she has apparently yet to post.

Police allegedly worked alongside a confidential informant to arrange the drug sale with an individual suspected of engaging in illicit behavior. He or she arranged the Feb. 23, 2020 meeting with the 26-year-old woman, at which time police observed the interaction from a distance. Officers say that they observed the woman accept $200 in exchange for 1.5 grams of cocaine.

Man faces DUI charge for head-on collision

A head-on collision ultimately ended in drunk driving charges for one man. Illinois police charged the alleged drunk driver with one DUI charge and two separate counts of aggravated DUI. Police also say that he did not have any car insurance and issued a citation for that as well as improper lane usage.

The wreck occurred shortly after 1 a.m., when a sheriff's deputy was out driving. As he traveled on the eastbound side of a road, a 24-year-old driver who was heading westbound allegedly crossed over the center median separating the two sides of the road. The two vehicles hit head-on. Although both vehicles were seriously damaged in the wreck, neither the alleged wrong-way driver nor the sheriff's deputy were seriously injured, although both did receive treatment for minor injuries.

Revised regulations could make or break your case

Whether you have never gotten in trouble with the law or currently face allegations of criminal activity, changes in the law can affect any part of your life. However, not everyone is aware of the policy changes that could affect them, starting this year.

Five new Illinois laws that may be of interest to you include:

Common reasons to file for Chapter 7 bankruptcy

Many Illinois residents currently find themselves in a very challenging financial situation. Whether you have seen your hours cut or have lost your job, it can be hard to make ends meet when the income that you depend upon is reduced dramatically. Any savings that you might have to make it through such a difficult time could be depleted quickly, leaving you unsure where to turn next.

You may have questions about the right steps to take to protect the resources that you do have, including your home or car. Filing for Chapter 7 bankruptcy is a real option that may allow you to reduce or eliminate some outstanding debt while you reorganize your financial future. If you are experiencing any of the issues below, you might want to consider filing for bankruptcy protection. 

Can I use an independent home inspector when buying a house?

Buying a home is one of the biggest financial commitments a person will ever make. This is why the average buyer in Illinois dedicates a significant amount of time finding the best place possible. But even if the house has the right number of rooms, is in a good location and seems to be in great shape, things are not always as they appear. Having an independent home inspector check things out can be the difference between purchasing a dream home and a nightmare.

The point of a home inspection is to ascertain whether there are any significant problems with a house. When a seller puts a home on the market, he or she usually accentuates the best parts that are most likely to draw buyers' attention. However, the seller will also do his or her best to avert attention away from flaws or defects. This may make it easier for an inspector to miss problems with the house, especially if he or she was hired by the seller.

Illinois woman facing criminal charges for embezzlement

Criminal charges involving white collar crimes are often viewed as less serious than allegations for things like burglary or drug possession. However, the reality is that all criminal charges can have serious and life-long consequences for people in Illinois. This means that someone who is charged with embezzlement should be sure to treat their criminal law situation just as seriously as any other.

One woman is facing charges for allegedly embezzling funds from her former employer, Planned Parenthood of Illinois. This accusation stems from a financial reconciliation in April 2017. It does not appear as if there was any suspicion prior to this as the financial reconciliation was described as a routine process for the organization.

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Donahue &
Walsh, P.C.

FRS Law
Group

(FLINN, RUBLE & SALAZAR)

FRS Law
Group

(FLINN, RUBLE & SALAZAR)

Granger &
Donahue

Cohen &
Donahue

Palatine Office
800 E Northwest Highway
Suite 602
Palatine, IL 60074

Phone: 815-889-2364
Phone: 847-452-5124
Fax: 847-930-1135
Palatine Law Office Map

Elgin Office
2400 Big Timber Road
Suite 108
Elgin, IL 60123

Phone: 815-889-2364
Phone: 224-276-6641
Fax: 847-930-1135
Elgin Law Office Map

McHenry Office
4310 Crystal Lake Road
Suite C-D
McHenry, IL 60050

Phone: 815-322-9678
Phone: 815-889-2364
Fax: 815-344-8922
Map & Directions

Sycamore Office
145 S. Sacramento Street
Sycamore, IL 60178

Phone: 815-322-9678
Phone: 630-202-1559
Fax: 847-930-1135
Sycamore Law Office Map

Rockford Office
One Court Place
Suite 100
Rockford, IL 61101

Phone: 815-322-9678
Phone: 779-203-9049
Fax: 815-329-6768
Rockford Law Office Map