This is the bankruptcy case study for Todd, from Steger, Illinois, and his wife Emily. The couple is considering chapter 7 or chapter 13 bankruptcy, but is not sure which chapter is best for them. Let’s explore the details. The couple owns a home in Steger, Illinois with a market value of approximately […]
Author Archives: David M. Siegel
Bankruptcy Case This is the bankruptcy case study for JW from Chicago Illinois who is seeking bankruptcy protection. There is no real estate involved in this case. There is no rental situation in this case. The client owns a 2014 Nissan Versa which is financed through Nissan Acceptance Corporation. The vehicle is worth $17,000 and […]
Many people who are considering filing bankruptcy are interested in knowing how long the fact that they file bankruptcy will stay on a credit report. The answer is that proof of bankruptcy filing can last up to 10 years on a credit report. However, this fact should not dissuade one from filing for bankruptcy if […]
Waiting To File Bankruptcy There are so many people that I talk to over the course of a month who contemplate whether to file bankruptcy yet take no action. Many of these people feel that the problem will simply go away. Some people feel that their financial situation is going to somehow change on its […]
This video talks about your employer as it relates to your Chapter 13 bankruptcy filing. Jesse Barrientes: Well, Dave, what happens – you’d mentioned before about payroll control where the money is coming out. If I didn’t do payroll control, would my employer find out? Obviously if I’m doing payroll control, they’re going to know. […]
This video talks about the costs associated with filing a Chapter 13 bankruptcy case. David Siegel: What is it, other than paying the stuff back, what is it going to cost me in terms of attorney’s fees, court filing fees and I’m just guessing that the trustee is going to have to be paid. Jesse […]
This video talks about the ability, at times, to dismiss a Chapter 13 bankruptcy case in order to re-file another Chapter 13 bankruptcy case. Jesse Barrientes: Let’s take the situation that we were talking about before about getting credit. So if we are getting credit for an automobile, let’s say that it becomes difficult for […]
This video talks about the ability to pay off a Chapter 13 bankruptcy case early. There are times when this is not a good idea. Jesse Barrientes: Well, Dave, what happens if we are in this plan here for a couple years and let’s just say that I have inherited some money. And you know […]
This video talks about obtaining credit while in a Chapter 13 bankruptcy case. Jesse Barrientes: What happens if – because it’s going to be lean living during this time. What happens if I need to get credit? If I’m going to be able – if I’m locked into this plan for three years or five […]
This video talks about keeping all of your property in a Chapter 13 bankruptcy case. However, the debtor could elect to surrender property as well. It really depends upon the desires of the debtor. David Siegel: Does someone get to keep all of their property when they are in a Chapter 13 or do they […]