Special Problems in Bankruptcy

We Can Help You With the Special Problems in Bankruptcy

Experienced Representation in Collinsville and Carbondale, Illinois

Every bankruptcy case, just like every individual who files for bankruptcy, is unique. Special problems may arise in some bankruptcy cases that can seem overly complicated and difficult to handle. Some of these problems have the ability to threaten the bankruptcy or to reduce its effectiveness. It is important to hire an experienced attorney to handle your bankruptcy, so that these problems can be anticipated and resolved before they can do any damage.

At Lathram & Herbert, LLP, in Collinsville, Illinois, and Bankruptcy Advocates in Carbondale, Illinois, our lawyers have over 36 years of combined experience handling bankruptcy in Southern Illinois and the Metro East area. We have seen many special problems arise in bankruptcy and have provided the knowledgeable experience to resolve these issues for our clients.

Saving Yourself Time and Money in Bankruptcy

We can help you avoid many of the special problems associated with bankruptcy, including:

• Avoiding tax problems in a bankruptcy:
  Some people believe that debts discharged in a bankruptcy have to be reported as income on income tax returns. However, under Title 11 of the U.S. Bankruptcy Code, you cannot be taxed for debts discharged in bankruptcy. You can be charged for debts that are relieved through debt management programs, however, which is another reason that bankruptcy is typically a preferable option.
• Removing a judgment lien from a home:
  In many bankruptcies, debtors must take additional steps to remove a lien on all real property that they own, even after the bankruptcies have gone through. Filing bankruptcy and naming the creditor with the lien does not automatically remove the lien, although it will create an ''automatic stay'' to prohibit the creditor from enforcing the lien or making any other attempt to collect the debt.
• Dealing with debt assigned in a divorce:
  If debt was accrued jointly as part of a marriage and the couple subsequently divorces, then one former spouse files for bankruptcy, the responsibility for those debts will often fall to the other spouse. Bankruptcy may protect the filing party from any collection activity and will remove their liability after the debts are discharged, making the other party 100 percent responsible for paying the remainder.

Contact us at Lathram & Herbert, LLP, and Bankruptcy Advocates to get the help you need to solve these and other special problems that often arise in the course of bankruptcy. In many cases, there are effective solutions for these problems that will protect your rights and your best interests. Call us toll free - Collinsville, Toll Free: 866-553-1981 Carbondale, Toll Free: 866-675-5067