For over 11 years, the Legal Action television show has been airing on a weekly basis throughout the suburbs of Chicago on Comcast. Providing exceptional legal advice in the area of bankruptcy is a valuable tool for many people who are either considering bankruptcy or who have already made that decision to file. The information shared with the viewers over the past 11 years has hopefully helped people feel more comfortable about the process, be better prepared for the process and most importantly, wind up with a fantastic end result.
Chapter 7 v. Chapter 13
For many people, chapter 7 is the best option. Chapter 7 will eliminate most debts except for student loans, recent taxes, parking tickets, child support, maintenance payments and other debts incurred through fraud. For others, chapter 13 is the best option. Chapter 13 will allow for the reorganization of debt over a 3 to 5 year period. The bankruptcy filer under Chapter 13 maintains ownership of all of his property and it is not subject to administration by the trustee. The most common use of a chapter 13 is to save a home that is in foreclosure, save car that is being repossessed or otherwise pay non-dischargeable debt at a smaller percentage.
For more information on bankruptcy and how you can be helped, you may contact the office at 847-520-8100. I would also recommend that you watch several videos on the website www.davidmsiegel.com or on YouTube. The more you know about bankruptcy and the process, the greater success you’re going to have with your case. Stay clear on non-attorneys who do not know what the law actually entails.