The Best Way To Cure Mortgage Arrears There is only one way that you can cure or catch up on mortgage arrearages with the help of the bankruptcy system. That way involves the filing of a chapter 13 bankruptcy case. Chapter 13 bankruptcy is a unique way to save a home that’s either in foreclosure, […]
Author Archives: David M. Siegel
Not An Easy Decision To File Bankruptcy For many people filing bankruptcy is not an easy decision. Even though people struggle with debt for years and years, they are reluctant to actually pull the trigger on a bankruptcy filing. It could be due to pride. It could be due to the uncertainty of life after […]
Most Bankruptcy Lawyers Accept Payment Plans Most bankruptcy lawyers accept payment plans because they know that clients are struggling financially. Bankruptcy attorneys understand that clients are overwhelmed with debt. It is only when one stops paying minimum payments on credit cards, medical bills, personal loans and other debts whereby he or she will be able […]
In every Chapter 7 bankruptcy case, there is a Trustee appointment by the court to oversee the administration of your case. In most cases, there are no assets to be administered. However, the Trustee still needs to do an investigation to make certain. The investigation typically involves him asking several questions at the 341 meeting […]
Chapter 7 & Foreclosure Filing bankruptcy can go a long way toward saving a home that’s in foreclosure. Each chapter of the bankruptcy code will affect the outcome or the continuation of a foreclosure case differently. Under chapter 7 bankruptcy law, and automatic stay will kick in which will temporarily halt a foreclosure case. In […]
You don’t have to be employed to file Chapter 13 bankruptcy. However, you do need a steady source of income to be able to fund the chapter 13 plan. This income could be Social Security, disability, rental income, investment income, unemployment benefits and other sources of income such as family assistance. There is a misconception […]
Chapter 13 Bankruptcy Case Tip 1 There are many tips that I can give you which will help you have a successful chapter 13 case or at least the most success possible under your circumstances. The biggest tip that I can give you however, is to go on payroll control for your chapter 13 trustee […]
Real Estate Property This is the case of Eddie B. who comes to me from Chicago, Illinois, which is located in Cook County, Illinois for a bankruptcy consultation. Eddie has filed a chapter 7 bankruptcy but it’s been over 12 years so he is eligible to file again. He owns a single-family home worth approximately […]
Filing Is A Mistake If…. Filing chapter 7 bankruptcy is a mistake if you have assets that are going to be taken in exchange for your fresh start. It is one thing if you know that your assets are going to be taken and you’re willing to sacrifice them. It’s quite another thing to have […]
When a business files for bankruptcy and closes its doors, it is filing a chapter 7 bankruptcy. This means that the company or corporation will no longer operate under that name and will no longer transact any business whatsoever under that name. Provided the corporation has no assets, creditors are unable to collect on their […]