Entries by Isaiah Oconnor

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What is a zombie title?

If you own a home in the Chicago area and you have fallen behind in your payments, then you may have received or been close to receiving a notice of foreclosure. If the bank has already taken this step, then you should acquaint yourself with a zombie title. According to Reuters, the zombie title is a title […]

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Scheduling of the meeting of creditors

If you are filing for personal bankruptcy, it is mandatory that you attend what is referred to as the meeting of creditors. Our staff at Ledford Wu & Borges LLC understand that the bankruptcy process can be confusing and you may have questions as to how this meeting is scheduled. First, it is important to […]

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Military members frequent victims of aggressive debt collecting

Managing finances is a challenging aspect for many people living in Illinois. They must meet their living needs while also trying to save money for a rainy day. Unfortunately, if they have a car loan, mortgage, kids to take care of and student debt, any unexpected emergency could topple the fragile financial structure of their […]

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The bankruptcy trustee explained

When people in Cook County file for bankruptcy, the court will appoint a trustee. According to the U.S. Department of Justice, every judicial district has a panel of private citizens who are appointed to serve in this capacity. They are referred to as panel trustees in matters concerning Chapter 7 bankruptcy. The trustee is essentially the […]

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Protecting the elderly from debt collection scams in Illinois

Unfortunately, scam artists often select elderly people as the target. At Ledford, Wu & Borges, LLC, we have a reputation of helping older people protect their finances, their future, and their overall wellbeing by guiding them through processes such as bankruptcy. We also know how to help people identify and avoid scams. The American Association […]

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Effective ways to stop a harassing debt collector in Illinois

There are certain rules that debt collection agencies must abide by when contacting consumers. Violating those rules can result in legal action in Illinois or anywhere else across the country. Unfortunately, this wrongdoing is becoming commonplace. According to the Consumer Financial Protection Bureau, approximately 26.3 percent of complaints the agency received In February of this […]

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What is a forbearance agreement?

If a foreclosure is looming, you may want to consider your options, including a forbearance agreement. This provides short-term relief to people in Chicago who are struggling to make their mortgage payments. Unlike a loan modification, which is permanent, a forbearance agreement only lasts for a certain period of time. During that time, the lender […]

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Know the key components of a Chapter 11 reorganization plan

Businesses in Illinois experiencing financial turmoil may want to consider filing for Chapter 11 bankruptcy. At Ledford, Wu & Borges, LLC, we know how important it is to make the right decision when considering your company’s wellbeing. We have a history of helping people navigate the bankruptcy process, including putting together a reorganization plan. As […]