As a Wadsworth bankruptcy attorney, I have seen other cases where a payday loan company will try to continue to extract money out of either a wage assignment or a voluntary electronic funds transfer agreement in contravention of the bankruptcy laws. Often times those creditors are not within the state of Illinois and they cannot be located. There are many payday loan places that are now popping up on the Internet. They are hiding behind the Internet where they don’t even have a physical presence, they don’t even have someone you can contact by phone and they do not necessarily follow the bankruptcy laws. I would advise people to first of all stay away from any kind of payday loan store but especially stay away from any kind of payday loan or cash advance that is done online. It seems like easy money. It seems like it’s easy to navigate through their website and get the money but you are doing it at a price. You have to deal with reputable lenders. You have to deal with reputable finance companies or you are going to suffer consequences down the road. You should also avoid cheap bankruptcy lawyers as they can cause issues as well.
This can be said of course of mortgage companies and auto finance companies as well. You want to make sure you are dealing with reputable companies because they are going to be servicing your account. That mortgage company is going to be the ones that you are going to be sending your payment to and they are going to be hopefully processing your payment correctly. Your auto lender is someone you are going to be sending your payments to and you want to make sure they are going to cut you the title when your vehicle is actually paid in full. So be very careful what lender you deal with. But anyway, if they violate the automatic stay, that’s where we can come in as your Illinois bankruptcy attorney and take certain actions.
After the 341 meeting of creditors, you will have approximately a two month waiting period before your case goes to a discharge under Chapter 7. This two month waiting period is a period where creditors can file an objection to either your discharge in total or to a particular debt being discharged. If the creditor files what’s known as an adversarial complaint objecting to the debt being discharged, you have a separate lawsuit inside the bankruptcy case. Most likely your Chicago bankruptcy attorney, under Chapter 7, will be able to represent you in the adversary case but not always. Some attorneys do not handle adversarial complaint because it’s just too complex.