910-Day Rule Exceptions The infamous hanging paragraph in §1325(a) of the Bankruptcy Code prohibits bifurcation of a creditor’s claim secured by a vehicle into a secured claim and an unsecured claim. Specifically: “section 506 shall not apply to a claim described in that paragraph if the creditor has a purchase money security interest securing […]
Category Archives: News
Bankruptcy law was designed to help people get a fresh start. Although frowned up, it actually stirs innovation as people can take more risk and innovate, knowing that if things don’t work out, Bankruptcy options are available. Bankruptcy laws were designed with the average hard working American in mind. Call 773-407-2100 for a free consultation […]
Some real estate transactions are commonplace matters, but many — especially in a city like Chicago— require complex legal analysis and skilled negotiation strategies backed by extensive knowledge and research. At the law firm of Wator & Associates, P.C., our attorneys bring detailed analysis and extensive experience to bear on all aspects of real estate […]
Although an injured employee is still an at will employee under Illinois law, there are restrictions on the ability of an employer to fire an employee who has been injured in the workplace. One example which was deemed an illegal firing was when an employer discharged the employee because the employer believed that the employee’s […]
Worker’s compensation is a system of benefits provided by Illinois law to most workers who have been injured while at work. The amount of benefits a worker receives in compensation for injuries suffered while at work is subject to limits as set forth by the law. Almost every employee who is injured, and whose employment […]
Vehicle accident injuries coming home shapes and sizes. From the most catastrophic to the more every day soft tissue injuries such as a sore neck and achy muscles. The critical element in receiving compensation for your injuries you should make sure that you are fully aware cognizant of your rights and the best course of […]
Fundamentals of the Service of Process The initial step of any lawsuit is the filing of the complaint with the court of proper jurisdiction. In order for the matter to proceed for the court then has to have “jurisdiction” over the person/business entity that is the defendant in the case. To achieve this jurisdiction, the […]
We are often asked the question of how to approach the matter of inspections pursuant to a contract signed by the purchaser where the contract includes an “as is” clause. As an initial matter let us define what an “as is” provision in a real estate purchase contract means. An “as is” clause merely provides […]
Some confusion arises in Illinois probate court regarding the difference between an heir and a legatee. An heir is the person who legally stands to inherit assets in the absence of direction from the decedent. A legatee is someone the decedent has directed shall receive assets. The usual form of direction noted here […]
A “cramdown” in a Chapter 13 bankruptcy allows you to reduce the principal balance of a debt to the value of the property it is secured by. By taking advantage of a Chapter 13 cramdown, you may be able to save your car, investment real estate, or certain other properties. You are allowed to cram […]