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Rising Home Values Are Nudging More Chicago-Area Homeowners to Tap the Equity in Their Homes via Lines of Credit

There appears to be an increase in consumer debt that is reminiscent of the near-collapse of 2008-2010. A recent article in Crain’s Chicago Business (reprinted below), reports that consumers are using increases in home equity to secure further… Read More
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State law conversion claim allowed for improper disposition of attorney's fees

In Deborah K. Ebner, as Chapter 7 Trustee for the Bankruptcy Estate of Santilli Law Group, Ltd.Plaintiff, v. Alfred Vano, Case 17-00293, (Bankr. N.D. Ill. 06/15/18), Judge Cox of the Northern District of Illinois held that an attorney that improperly… Read More
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mature adult man working at home ( laptop, financial bill, credit card, smart phone)

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 Repayme… 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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Chicago Court orders City to surrender vehicle to Debtor notwithstanding asserted possessory lien to secure traffic tickets

In a recent case, Judge Schmetterer held in In re Cross, Adversary No. 18 AP 00154, that the City of Chicago did not have the right to retain a chapter 13 debtor’s vehicle to protect its possessory lien on the car that allegedly secured payment… 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”, b… 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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