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 This Transcript was auto-populated Transcript: 00:00:04 Child support in the state of Illinois is calculated per statute under what’s called the income shares model. What they do or what a judge is assigned to do if a case would come before them is put a calculation together that would factor in each party’s gross […]

 This Transcript was auto-populated Transcript: 00:00:04 The calculation to determine if you are to receive what they call maintenance in the state of Illinois, what they used to call alimony, is primarily based on the duration of the marriage and what each spouse makes. So, if you have a situation where you have a […]

 This Transcript was auto-populated Transcript: 00:00:01 in a bankruptcy get rid of student loans? Uh, unfortunately, the answer to that is no for a vast majority of people, unless you can show what’s called an undue hardship, which is a legal term, and it doesn’t apply to very many people, a very small percentage […]

 This Transcript was auto-populated Transcript: 00:00:01 Can a bankruptcy stop a foreclosure? And the answer to that is absolutely. A bankruptcy once it is filed puts in place the automatic stay as long as you file the bankruptcy before the sale date that would be set at the very end of a foreclosure. So […]

 This Transcript was auto-populated Transcript: 00:00:00 Can a bankruptcy stop a wage garnishment that has already started? And the answer is yes. Once you file a bankruptcy, the automatic stay, which is the protection that you get from filing a bankruptcy, whether you file a chapter 7 or or a chapter 13 or or […]

 This Transcript was auto-populated Transcript: 00:00:01 Can bankruptcy discharge or get rid of taxes? The answer to that depends on the type of tax. If it’s employment taxes or sales taxes, the answer to that is generally no. If it’s income taxes, the answer is possibly. Uh the return had to have been filed […]

 This Transcript was auto-populated Transcript: 00:00:00 If you file a bankruptcy, can you keep your car? Uh, yes. Generally speaking, you can. If you file a chapter 7 and you have a car with a loan on it, you can reaffirm that debt, which basically means it reobligates you to the debt and you […]

 This Transcript was auto-populated Transcript: 00:00:01 How does filing for bankruptcy affect your credit score? So, when you file a bankruptcy, everything that’s on your credit report typically is is just removed. It’s washed clean like it never happened. The fact that you file the bankruptcy then stays on your credit for up to […]

 This Transcript was auto-populated Transcript: 00:00:00 [Music] Hi, my name is Joe Pileleti with Pileleti Py and Nichols Law Firm and today we’re going to talk about Chapter 7 bankruptcy. What is Chapter 7 bankruptcy? Well, there are two main kinds of bankruptcies that consumers file and that is opposed to businesses and those […]

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