Our Law Blog - Koch & Associates P.C. Attorneys At Law

September 22, 2021 Uncategorized

Filing Chapter 7 Bankruptcy in Illinois – Pros and Cons

Filing Bankruptcy – Chapter 7 in Illinois Chapter 7 bankruptcy is a method for eliminating your debts through liquidation. It’s a good option for people who have a low income and few assets. Chapter 7 Bankruptcy is a federal program, which means it functions the same in Illinois as it does in other states. Chapter 7 bankruptcy involves liquidating your property to pay off your debts. This means you will have to surrender most (but not all) of your property....

Moving Forward After the Foreclosure Moratorium 2021

The Federal Foreclosure Moratorium Ends The federal foreclosure moratorium expired on July 31, 2021, and it has not been extended. This means that individuals who have properties financed by USDA Single-Family Housing Direct and Guaranteed loans, and were previously facing foreclosure, may now lose housing protections. The good news is that the Federal Housing Administration has extended the Single Family Eviction Moratorium until September 30, 2021. This won’t prevent foreclosure proceedings, but it may delay you from being displaced from...

How to Prepare for an Estate Planning Meeting

Estate planning can be a stressful and emotionally draining process. But taking the time to develop a plan ensures that those you care about won’t have to suffer through unnecessary legal hardships on your behalf. To relieve some of your stress, we’ve put through this guide to educate you on how to prepare for an estate planning meeting. The 4 Important Factors of Estate Planning Estate planning can be broken down into four general components. Let’s take a few moments...