No. You can file while completely current. Being up to date does not mean you are in good shape if every spare dollar goes to servicing debt.
Author Archives: David M. Siegel
There is no minimum. What matters is your situation, not a number. A Chicago bankruptcy attorney on why the same balance ruins one household and not another.
In most cases no. The only common exception is when an employer must be notified to stop an active wage garnishment. A Chicago attorney explains.
Yes, and it often makes sense. If only one spouse carries the debt, only that spouse needs to file. A Chicago attorney explains when to file jointly instead.
Unsecured personal and signature loans are easily eliminated in Chapter 7. Secured loans are different. A Chicago bankruptcy attorney explains the distinction.
Generally no, but not never. An adversary complaint alleging undue hardship has reduced or eliminated student debt. A Chicago attorney explains when it applies.
Five to ten minutes of yes-or-no questions from the trustee, under oath, on Zoom. Creditors may attend but rarely do. A Chicago attorney explains.
A notice goes to every creditor and collection stops. About 30 days later comes a short meeting of creditors on Zoom. A Chicago attorney walks through it.
Legally you can file pro se. In practice the two worst outcomes are losing property that could have been protected and not receiving a discharge at all.
Generally no. Every debt must be listed, even a zero balance, and issuers are notified automatically. A Chicago bankruptcy attorney explains what to expect.