Median income for Chicago bankruptcy cases

October 18, 2023bankruptcy, bankruptcy law, chapter 13, chapter 7, Leeders Law, means testmeans testTerrance Leeders

Means test -median income level for Chicago bankruptcy cases effective November 1, 2023

Top 5 Bankruptcy Misconceptions

December 14, 2017credit score, future credit, means test, top 5 bankruptcy misconceptionscredit score, free consutlation, means testTerrance Leeders

Top 5 Bankruptcy Misconceptions

Many people hesitate filing for bankruptcy. No one wants to do it. But many, should do it. Making that determination is often the hardest part about filing for bankruptcy. There are many...

high income broke debtors… recent trends in bankruptcy

November 10, 2015chapter 13, chapter 7, means testTerrance Leeders

http://qz.com/520414/the-high-earning-poor/

Do you earn a decent salary,...

I is for Income

July 12, 2012Income, means test, Schedule ITerrance Leeders

Income. So many topics to cover. Schedule I is where income is listed in a bankruptcy petition.

The Means Test Form 22a and Form 22C (chapter 7 or chapter 13 respectively) computes disposable monthly income too. This is a 6 month average...

New updated median income figures for bankruptcy filers

February 7, 2008chapter 13, chapter 7, household size, means test, median income1 CommentTerrance Leeders

Median income level for Illinois based on family sizeEffective: 2/1/08

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Can a spouse file an individual bankruptcy?

March 21, 2007chapter 13, chapter 7, CMI, joint filing with spouse, means testTerrance Leeders

I received an email today from a prospective client asking if a spouse could file bankruptcy without her spouse. Excellent question.

Although both spouses are not required to file bankruptcy jointly, the Bankruptcy Code does require...

Feb 1 – Updated census bureau median income in Illinois

February 9, 2007bankruptcy petition, census bureau, CMI, means testTerrance Leeders

For Illinois Bankruptcy filings: Census Bureau Median Family Income By Family Size

(Cases Filed On and After February 1,...

Bankruptcy Chapter 13 Law update

February 1, 2007chapter 13 bankruptcy, means testTerrance Leeders

Projected Disposable Income is the Same as Disposable Income(Form B22C Controls)In re Farrar-Johnson, WL 2662709 (Bankr. N. D. Ill. 9/15/06.)

Under Chapter 13 where a debtor is above the median income, section 1325(b)(3) makes clear...

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Leeders Law

2 weeks ago

Foreclosures Rising in Chicago – Stop It Before It StartsBody:Foreclosure filings in Cook County and the Chicago area continue to climb in 2026.If you’re behind on your mortgage, facing lender pressure, or worried about losing your home in Chicago or anywhere in the suburbs — you have options.Chapter 13 bankruptcy can stop foreclosure immediately, let you catch up on missed payments over time, and keep you in your home. Chapter 7 may also help depending on your equity and situation.With the new higher Illinois exemptions in 2026, more homeowners than ever can protect their property while getting debt relief.At Leeders Law, we offer personalized, one-on-one service from our convenient office locations or phone/virtual appointments.Attorney Terry Leeders has over 28 years stopping foreclosures and helping Chicago families save their homes.Get a FREE consultation this week — in person, phone, or video. No pressure, just clear answers.Call today: (312) 346-7400Website: leederslaw.comYou don’t have to face this alone — help is local and available now.#stopforeclosure #chicagoforeclosure #Chapter13 #leederslaw #DebtHelpLearn more, Call now! ... See MoreSee Less

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1 month ago

Chicago's Economy & the Rise in Consumer Bankruptcy — What's Going On?If you've been feeling financial pressure lately, you're not alone. Across the Chicago metro area — and the country as a whole — more families are struggling to keep up.A few things worth knowing:📊 Consumer bankruptcy filings rose 11% nationally in 2025, and the trend is continuing into 2026. Chicago is not immune.💳 U.S. credit card debt has hit a record $1.21 trillion — a sign that many households are borrowing just to cover everyday expenses.🏛️ Chicago's pension obligations remain a long-term pressure on city finances, which can affect services, taxes, and the broader economic climate residents depend on.The causes are real — high interest rates, lingering inflation, and stagnant wages for many workers. For some, bankruptcy isn't the end of the road. It's a legal tool designed to give people a genuine fresh start.If you or someone you know is feeling overwhelmed by debt, talking to a financial counselor or bankruptcy attorney is a smart first step — not a last resort.💬 Have you noticed the financial squeeze in your neighborhood? Share your thoughts below.#chicago #personalfinance #consumerbankruptcy #chicagoeconomy #debtrelief #FinancialWellness #illinois #leederslaw #bankruptcy ... See MoreSee Less

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1 month ago

💡 Gas prices up. Grocery bills up. Utility bills up. Your paycheck? The same.If you're robbing Peter to pay Paul every month — using credit cards just to cover the basics — you're not alone. Millions of Americans are feeling the same squeeze right now.But here's what most people don't know: bankruptcy isn't failure. It's a federal legal tool designed for exactly this situation. It can:✅ Wipe out credit card debt✅ Stop collection calls immediately✅ Give you a real fresh startAt LeedersLaw, we offer FREE consultations with no pressure and no judgment. We'll tell you honestly whether bankruptcy makes sense for you — and if it does, we'll walk you through every step.You've been carrying this long enough. Le#BankruptcyHelp👇#CookCountya#debtrelief-#leederslawB#FreshStartlp #CookCounty #DebtRelief #LeedersLaw #FreshStart ... See MoreSee Less

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