Archives for December 2016

A Chicago Bankruptcy Attorney’s Christmas Wish List To Chapter 13 Trustees

At the close of every calendar year, I try and reflect about the year past from a bankruptcy standpoint. What was most rewarding about being a chapter 13 bankruptcy attorney? What would've made the practice of law even more rewarding? What types of rulings or policies would I have liked to have seen go in a different direction? Just a few simple thoughts as we enter the Christmas season. More Uniformity 1)   Wouldn't it be great if there was more uniformity among the chapter 13 trustees? There are three chapter 13 trustees which handle the reorganization cases for the bulk of my clients. There is a fourth trustee that has just a handful of my clients per year. A greater sense of uniformity + Read More

Looking Ahead To Next Year With Optimism

A Better Year Awaits As the year comes to a close, people look to the upcoming year with optimism. What can make next year better than the current year? For some this might mean a better relationship, a better job, a healthier lifestyle, and for some a financial fresh start. For those that have struggled during the current year and past years, they envision a future year either free from debt or on a program to manage the debt. What I am referring to is either a chapter 7 fresh start bankruptcy or a chapter 13 reorganization bankruptcy. Either one of these chapters, depending on the person's particular situation, will provide a great form of relief. Chapter 7 Bankruptcy Chapter 7 is the + Read More

Bankruptcy Case Study

Introduction Of Debtor This is the bankruptcy case study for Ms. R., who resides in Berwyn, Illinois. She is here to seek bankruptcy protection and to eliminate the struggle that she has been in for some time regarding debt. To determine whether or not she can file and get the relief needed, we need to conduct a thorough intake examination to learn all of the details. We begin with the fact that she has never filed for bankruptcy protection in the past. This opens the door to availability for chapter 7 and Chapter 13. In terms of real estate, she is not an owner of any such property. She is currently renting on a month-to-month basis. She is current on her rent and she would like to + Read More

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