Bankruptcy Trustees If you live in Chicago and file a chapter 13 bankruptcy, the trustee appointed to your case is either going to be Marilyn Marshall or Tom Vaughn. Although each trustee follows the same bankruptcy laws and processes, each has a different standard or structure when it comes to confirming cases. In general, cases […]
Yearly Archives: 2014
People are understandable concerned about obtaining credit after filing for bankruptcy. It is a real concern for many people. We have become so used to credit and the leeway that it provides in making purchases. The good news is that you will be able to obtain credit within a very short time after filing bankruptcy. […]
Personal Bankruptcy Filing Fees As of today, the court filing fee for a chapter 7 bankruptcy case is $335. The court filing fee for a chapter 13 bankruptcy case is $310. You should plan on having those funds available at the time you meet with your lawyer. The lawyer that you meet with is going […]
The Facts A former client contacted me recently in an effort to obtain an official transcript for her daughter’s first year of high school at a private school. The facts of the case are undisputed. The debtor filed a chapter 7 bankruptcy in 2010. Later that year, the debtor’s daughter attended her first year at […]
If you have no assets and your sole income is Social Security, then you may not have to file chapter 7 bankruptcy. It really depends upon your level of stress and aggravation that you can handle. Creditors are going to attempt to collect on a debt until they realize that they have no means to […]
I am seeing any increase in potential bankruptcy clients who have parking tickets owed to the city of Chicago on their creditors list. It seems that it’s hard to live in the city of Chicago and not be subject to the wrath of parking tickets. And when you don’t pay those tickets on time, the […]
Most people are under the misconceptions that if they file for bankruptcy, then they will lose all of their property. This is simply not the case. Most people who file for Chapter 7 bankruptcy retain all of their personal property. That is because the state of Illinois provides exemptions as it related to personal property. […]
In the past, if you were behind on your mortgage payments and did not want to keep your home, you had the ability to surrender it without much concern. Everything changed however at the start of 2014. The mortgage debt forgiveness relief act was not extended into 2014. This means that if you surrender your […]
Personal Bankruptcy Is Technically Public The fact is that filing a personal bankruptcy case is public record. However, the fact you filed is not something that is easy to obtain by the general public. There is a public access system known as PACER which contains information regarding bankruptcy filings throughout the country. To gain access to […]
Chapter 7 bankruptcy is known as liquidation bankruptcy. However, in most cases, there is nothing to liquidate. The debtor gets to keep a large portion of personal property while going through the process. The Illinois law that allows the debtor to keep property while filing for bankruptcy is known as exemptions. They apply to homes, […]