Tax Assessed Value vs. Appraised Value – Understanding the Difference

What is the value of a piece of real estate? In a lot of ways, it really does depend on who you ask. For first-time homeowners, investors, or developers, it’s important to understand what exactly people mean when they talk about the value of a property, and, just as importantly, how this valuation is determined. In particular, there is one common question that tends to come up with some frequency: Why can there often be such //READ MORE

2020-03-11T20:07:25-05:00March 17th, 2020|Community|

Debt Collection Complaints: What the FTC and CFPB Have to Say

For anyone who has struggled with debt, you know how much that financial strain can impact every other part of your life. From negatively affecting your health to limiting your ability to enjoy life, debt can take a serious toll on your well-being and quality of life. This is particularly true when dealing with debt collectors, who may contact you in a variety of ways as they attempt to pursue an outstanding debt.  The fear of //READ MORE

2020-02-27T18:40:43-06:00March 10th, 2020|Community|

What Is a Quit Claim Deed?

Growing up, you may have heard that it’s a bad thing to quit. But here in Illinois, many people transferring real estate nevertheless consider a “quit claim deed” as a way to exchange their property quickly.  Here in Illinois, we generally use two words to refer to quit claim deeds — a type of deed which is used to convey property ownership without any warranties, and is often used among close family or friends. You may //READ MORE

2020-02-13T17:47:29-06:00February 25th, 2020|Community|

Can I File for Bankruptcy In Retirement?

Are you eligible to file for bankruptcy in retirement?  The short answer to that question is a resounding yes. Retirees can pursue Chapter 7 and Chapter 13 bankruptcy — and many certainly do. In fact, bankruptcy is on the rise among adults aged 65 and over, according to a number of sources. Now, with that said, there are still many questions personal to you that need to be asked.  Bankruptcy is a process with many moving //READ MORE

2020-02-06T14:59:59-06:00February 18th, 2020|Community|

Can a Creditor Collect a Debt During Bankruptcy?

For those facing the burden of severe debt, bankruptcy can be a way to hit refresh and gain a new start. In the long-term, bankruptcy can allow debtors to discharge certain debts and restructure others, to make them less of a month to month struggle. At the same time, bankruptcy also offers debtors short-term relief and protection.  This process is intended to give debtors some breathing room and space, particularly when it comes to their most //READ MORE

2020-02-13T17:49:00-06:00February 11th, 2020|Community|