Do I Have to Take a Means Test to Qualify for Bankruptcy?

If you’ve been looking into the prospect of filing for bankruptcy, then you’ve probably seen the phrase “means test” come up a few times. While it’s not necessarily as intimidating as it may initially sound, the means test for bankruptcy is an important concept to understand, particularly if you’re interested in pursuing Chapter 7 bankruptcy. In essence, the means test is designed to determine who can qualify to have many of their dischargeable debts forgiven through //READ MORE

2018-12-28T15:05:34+00:00 January 10th, 2019|Community|

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

2018-12-19T10:45:28+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

2018-12-19T10:46:01+00:00 December 6th, 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|