Why would I save for retirement when I am paying off my student loan debt? This doesn't make any sense! Oh yes it does!!!! While you might think it is better to pay off all of your debt before saving for retirement, think again. Not only do you need to save regularly for retirement but you al...
What's the number one way to pay off your student loans and buy a house? Get on an income based payment plan for your student loans. Whether you've got $15,000 or $300,000 in student loans, the income based plan counts as full payments that are not deferments. Why is this important? Because a...
Have you ever wondered why people still go to the bother of writing a Will? Well here is one example where it makes a lot of sense. A few years ago, a woman named Jasmine passed away leaving an estate of 3 real estate parcels located in two states valued at around $800,000. Jasmine did not exe...
How do I Sell My CCLT Chicago Community Land Trust Property Condo or Home Its Easy, get it listed for sale with the Chicago Community Land Trust (CCLT). Then wait for a buyer to get approved by the CCLT. Once approved, the buyer will be instructed to enter into a contract with you. Once the co...
Prorate a Chicago Water Bill. First, get a copy of the most recent water bill. Find out the billing cycle. For a non-metered account it is issued every six months so look at the bill and use the month it is issued and then add six months for the other billing month. Determine the last date th...
Disabled with Equity in Home Can I file Chapter 7 Bankruptcy. Are you disabled? Have you applied for disability but are waiting for approval? Have you applied, been denied and have appealed disability? Do you have over $20,000 in credit card debt and can pay your credit cards? Have you owned your...
David C. Nelson has been practicing real estate law since 1994 and has represented clients in CCLT transactions since 2007. Attorney Nelson is a CCLT trained, endorsed and recommended attorney for CCLT transactions. Whether you are selling or buying a CCLT home or condominium, NLO Nelson Law O...
Can you Discharge Tax Debt in Chapter 7? Yes. Tax debt which is over 3 years old can be discharged. Payroll Tax Debt from the operation of a business is not discharged. Sales Tax Debt from the operation of a business is not discharged. To properly determine with accuracy whether your tax de...
proration of chicago water bill. You can prorate a chicago water bill. To prorate simply request the prior years full bill which is two six month bills. Then divide the total year bill by 360 to get the per day cost. Then count the days from when the last bill was issued. Use following equati...
When should I convert my chapter 13 bankruptcy to a chapter 7? Loss of employment loss of income plan is no longer feasible. You no longer need save your home or cars. Section 348 of the bankruptcy code says that the qualification for a chapter 7 discharge is the petition date and not the conver...
How to Reinstate Suspended License in Illinois with Debt Relief through Bankruptcy Many people don't know this, but you can reinstate your driver's license using debt relief through bankruptcy. Filing either a Chapter 7 or Chapter 13 bankruptcy allows the debtor to go into a Driver's Service Cen...
Does Automatic Stay Stop Eviction. YES Can a Landlord evict his tenant after the tenant files a Bankruptcy. YES. However, the Landlord needs be exceptionally careful. Under Section 362 of the Bankruptcy Code, the Tenant's lease of the premises is cover by the Bankruptcy Automatic Stay. Thi...
Parking Tickets Dischargeable Bankruptcy Parking Tickets are a crime, fine or penalty as defined under the bankruptcy code. They are not dischargeable in a Chapter 7 Bankruptcy. Usually the filing of a Chapter 7 Bankruptcy forces the City of Chicago or other Illinois Municipality to offer a pay...
Chapter 7 Versus Chapter 13 Bankruptcy 2014 During Tax Season 2014 (2013 Taxes); many people consider a Chapter 7 Bankruptcy because they hope they will have enough money from their tax refund to afford the filing of the Chapter 7. The assumption is that all of the debt will be wiped out and the...
Condo Buying Tips 2014 Here are some tips when buying a condo. Over the years these have changes and this article is tailored for some of the important ones in 2014 Sellers Past Due Assessments: If you are purchasing an REO Condo Property from a Bank or other Entity that acquired the proper...
Subway is Closed at 407 South Dearborn effective February 4, 2014. According to the sandwich makers at Subway, 407 South Dearborn is closing January 1, 2014. However, Subway officially is now closed as of February 4, 2014. A close Alternative location is within the Federal Building at 77 West ...
Bankruptcy Tax Refund – Keep and Spend It Wisely Many people enjoy receiving a large tax refund during the springtime months of every year. The average middle class family receives approximately $5000 in tax refunds. But problems can arise if a member of that family is filing Chapter 7 Bankrupt...
home sale net profit How to Calculate Your Net Profit or Loss from Selling your Home Every year starting in January, homeowners will often decide whether to sell their home either for pending employment change, school change or other reasons such as getting a larger home for a growing family. Wh...
2013 Tax Refund. W-2 Forms must be sent by your employer by January 31, 2014 which means that nearly everyone can file their taxes on February 1, 2014 or earlier. If you receive your tax refund electronically, your refund will probably arrive in under two weeks. If you receive your tax refund ...
