Archives for September 2016

New Court Approved Retention Agreement For Chapter 13 Cases Arrives Suddenly

The New Agreement Getting paid as a chapter 13 debtor's attorney has always proven somewhat difficult. Not the least of which is that the debtor typically must make chapter 13 plan payments from which counsel can be paid. Add on top of that the fee application, the fee order and the presentment been before the court and there are plenty of moving parts from which failure is imminent. Which brings me to the new court approved retention agreement to be used by debtor's counsel and their clients in chapter 13 bankruptcy cases. The new agreement was announced on the bankruptcy courts website on September 12, 2016. The new agreement must be utilized in all cases filed on or after September 19, + Read More

Case Study For Mrs. C. From Wheeling, Illinois

  Nature Of The Debtor This is the chapter 7 bankruptcy case study for Mrs. C., who resides in Wheeling, Illinois. She has come to the office with the simple thought in mind to eliminate her outstanding credit card debt and medical debt. She has been struggling for approximately three years. Although she has been able to maintain the minimum monthly payments on her credit cards, she is no longer able to sustain herself based upon her newfound rental obligations. Let's examine the facts of her case. Current Outlook She is currently separated from her spouse and they are living in two separate states. She has no minor children. She is currently working as an instructor and has been + Read More

Paying Back As Little As Possible Under Chapter 13

When someone is looking to file chapter 13 bankruptcy, they obviously want to pay back as little as possible. They also want to gain the greatest amount of relief during the process. There are a number of factors that go into determining whether or not the monthly payment is going to be high, low, or somewhat in between. It is basically based on assets, liabilities, monthly income and monthly expenses. In a recent case, a client who filed five previous chapter 13 bankruptcy cases is seeking to have her chapter 13 plan payment lower than originally filed. Let's examine the facts of the case. Previous Filings As I mentioned previously, the debtor had filed five previous chapter 13 bankruptcy + Read More