Archives for July 2014

Three Important Decisions When Filing Bankruptcy

The first important decision when filing bankruptcy is should I file? Most clients struggle with whether or not to file for bankruptcy. Even if the person has significant outstanding debt, there is still often a question as to whether or not filing bankruptcy is the right solution. People worry about their credit scores. People worry about obtaining financing for such things as homes and cars after they file for bankruptcy. People fail to realize that they are actually in a better position to obtain financing shortly after filing bankruptcy then the current timeframe. There is also a moral question for many people. Is bankruptcy and easy way out? Is bankruptcy is the wrong thing to do vies a + Read More

Re-Filing Chapter 13 Bankruptcy Provides A Welcome Surprise

Current Chapter 13 Bankruptcy Client I have a client that is currently in a chapter 13 bankruptcy case, but is struggling to make her plan payments. The trustee has filed a motion to dismiss the case for failure to make timely payments. My client is approximately $1500 behind even though her trustee payments are being deducted out of her pay. This is primarily due to the fact that she was in between jobs and during that lapse in employment, she did not pay the entire plan payment on her own. Faced with the dilemma of the trustee's motion to dismiss, the client came to see me with regard to her options.  Option One One of the options of course is to get caught up with the trustee and save + Read More

7th Annual Chicago Consumer Bankruptcy Conference

This post is specifically directed to consumer bankruptcy attorneys located in the Chicago area. The American bankruptcy Institute is holding their seventh annual Chicago consumer bankruptcy conference to be held on November 11, 2014. The conference will take place at the University of Chicago Gleacher center. The conference will focus on current issues affecting debtors and creditors and consumer bankruptcy cases. Faculty members will include bankruptcy Judges Janet S. Baer, Donald R. Cassling, Catherine J for Furay, Thomas M. Lynch and Eugene R. Wedoff as well as experienced local chapter 7 and chapter 13 consumer attorneys and panel trustee's. You can click the link below for more + Read More

Chicago Bankruptcy Lawyers Want To Hear The Chapter 7 Trustee State “I’ll Make A Finding Of No Assets.”

Chicago Bankruptcy Lawyers Chicago bankruptcy lawyers want to have their clients’ bankruptcy cases be determined to be no asset cases by the panel trustees. This rather simple expression means that the debtor is not going to lose any property while going through the bankruptcy process. As a bankruptcy lawyer, my goal is to get a person out of debt without having that person give up any property. When the trustee makes a finding of no assets, he is closing the book on the case and is seeking no other interest in the debtor's estate.  Fear Of Losing Property Many people are afraid to file for bankruptcy because they think that they are going to lose their property. It's a very + Read More