Are All Debts Automatically Dischargeable In Bankruptcy?

The attorneys and staff of The Gunderson Law Firm specialize in helping individuals and businesses in the Illinois file bankruptcy in the most appropriate ways to discharge their debts, and get a fresh start at a new financial life. With this in mind, one of the most important things to understand as you consider bankruptcy as an option for financial relief – and one of the questions we get asked most often – is whether or //READ MORE

2018-12-02T14:22:47+00:00 December 11th, 2018|Community|

Does Illinois Have a Statute of Limitations on Debt Collection?

While consumers across the country are protected from certain aspects of third-party debt collection due to the policies of FDCPA, or the Fair Debt Collection Practices Act, the reality is that laws governing collection and litigation over debt do tend to vary from state to state. For instance? Every state in the nation has unique rules about the statute of limitations on debt. Illinois is no different. //READ MORE

2018-12-02T14:16:11+00:00 December 6th, 2018|Community|

Understanding Secured Vs. Unsecured Debts

If you’re facing a rising tide of debt, and trying to determine the best strategy to help get yourself back on solid financial footing, one of the most important steps you can take is to determine what type of debts you have. In most cases, debts tend to fall into one of two categories: secured and unsecured. While it may sound simple, determining if your problem debts are secured or unsecured is truly a crucial step //READ MORE

2018-11-28T10:51:14+00:00 November 22nd, 2018|Community|

How Many Households Are Dealing With Debt?

Managing your finances is often much easier said than done. In fact, it may just be one of the most challenging and arduous undertakings in adult life, for any number of reasons. Dealing with student loan debt, for instance, has caused many millions of young adults to enter their professional lives already coping with a serious financial weight. Many more are stuck paying steadily-increasing rent costs, rather than attempting to build equity by purchasing a home. //READ MORE

2018-11-28T10:53:25+00:00 November 20th, 2018|Community|

‘I’m Being Sued Over Debt. What Are My Options?’

You open the mailbox and find a notice that’s anything but welcome: You’re being sued for a debt. This is not an uncommon scene, but it’s still a shocking and upsetting one – particularly if you’re the one receiving the notice that a lawsuit is pending. Whether you expected this action on the part of a creditor or not, it’s important to consider how you can respond in the event that you face a lawsuit over //READ MORE

2018-11-28T11:00:43+00:00 November 13th, 2018|Community|