There’s a misconception that filing for bankruptcy will wipe your slate clean, leaving you with no debt and a new start. Bankruptcy does provide a pathway to a new beginning financially, but it’s likely that you’ll still carry some debt after your case – albeit a much more manageable number than before. Chapter 7 and Chapter 13 bankruptcy both have certain untouchable debts. These debts are often protected by law Read More

Buying a home is often one of the most fulfilling experiences for you and your family. It can be stressful sifting through the market and finding a fit, but, in the end, it’s all about finding a safe and proper place for your family to spend time together. If you’re ready to sign contracts and see the light at the end of the tunnel in your real estate journey in Illinois, the home inspection is one of the most Read More

Just the word bankruptcy can send shivers down your spine. It’s a boogeyman that scares off a lot of people and companies. This is understandable because bankruptcy is essentially a last resort and acceptance that an individual or organization is overwhelmed by their debts, but it’s also not the end of the world. After all, big-time CEOs sometimes get a bonus after their company files for bankruptcy so why can’t you Read More

Estate planning should be a priority for all families and individuals. It’s important to have a plan in case the worst happens. After all, we don’t always see the worst coming and can’t predict what the future holds for us. Having a plan can be the difference between our assets ending up in the right hands or our loved ones being left with nothing when the courts get involved in the process. Unfortunately, another Read More

We hear it time and time again: it’s a seller’s market! On the housing market, there’s a constant back-and-forth between a seller’s and buyer’s market. Right now, houses are selling quickly and often well over the asking price. This scares off a lot of potential buyers who can’t compete with the higher prices, but we want you to rethink the way you view housing costs. When buying a home, it’s important to Read More

At Velazquez Consumer Law, we get it: bankruptcy is a scary process. It can feel like an absolute last resort to all of your biggest financial nightmares, but it’s important to know bankruptcy court exists as an outlet when you’ve run out of options. At the end of the day, there are benefits to the process, as well. In this case, we’re talking specifically about how filing for bankruptcy could help you save on Read More

As we’ve written about before, bankruptcy is not a terrible thing. It is not the end of the world. It doesn’t even mean that you will lose your home. However, it is still an involved process and people should be aware when it is coming. When bankruptcy is on the horizon, there are many preparations you may want to undertake sooner rather than later. If you are in the middle of a tough financial time, it is Read More

The start of a new year is a time for celebration and reflection. Plenty of people like to get a fresh start by committing to New Year’s Resolutions, plans to break new ground and find new approaches to old problems. As you make resolutions about your life, it is also a great time to look at something that is personalized to your ever-changing life: your Estate Plan. An Estate Plan is a legally-binding document Read More

2021 has been good to home sellers in Illinois. As we’ve written about before, some properties were getting multiple offers in minutes of going on sale. Will that continue into the future? We certainly hope so, but as 2020 taught us, nothing is guaranteed. As we move into the new year, it’s important for home sellers to prepare for anything. Regardless of the market, there are some things that sellers can do to Read More

Some people think that once you file for bankruptcy, your credit score is toast for the rest of your life. They assume that you will have to rely on cash and you will never be able to pass a credit check again to get approved for a mortgage, a lease, a loan, or even a credit card. This simply isn’t true. It’s one of the myths of bankruptcy that we’ve previously written about. In that article, we note that while Read More