New Filing Fees Starting June 1, 2014, bankruptcy filing fees are going to increase. The filing fee for a chapter 7 bankruptcy case is increasing to $335.00. The filing fee for a chapter 13 bankruptcy case is increasing to $310. 00. So if you’re already struggling to pay your debts and are seeking bankruptcy protection, […]
Author Archives: David M. Siegel
You are not required to use a Chicago bankruptcy lawyer if you live in cook County and wish to file for bankruptcy relief. Much more important than where the attorney is located, is what type of qualifications does the attorney have to handle your case. You might find a bankruptcy attorney within six blocks of […]
Most clients who call seeking chapter 7 bankruptcy relief do not have significant equity in their real estate. In fact, most clients who call today have no equity in their real estate. Since the real estate market plummeted several years ago, most clients are in a situation where they owe more on the property than […]
There are secured creditors that must be treated a certain way in a bankruptcy case. The transcription below touches the surface on what a secured creditor is and what types of decisions have to be made with regard to those secured creditors. Jesse Barrientes: You said there were secured and unsecured creditors. So then unsecured creditor […]
Chapter 7 Bankruptcy Discharge There are certain eligibility requirements in reference to getting a discharge under the bankruptcy code. Let’s begin with the most common form of bankruptcy which is a chapter 7 fresh start. Chapter 7 is when someone, an individual typically, has very little in the way of personal assets but has a […]
The most important thing about filing bankruptcy is the initial consultation with a bankruptcy attorney. It is not the price. It is not the location of the office. It is not the number of cases that the attorney has filed over the year. It is not whether that attorney is advertising on television. It is […]
Not A Failure Filing bankruptcy does not have to be looked upon as a failure. Bankruptcy can be looked upon as an opportunity to get a fresh start or to reorganize debt under existing federal bankruptcy laws. I don’t believe anyone sets out to file for bankruptcy. However, certain events happen in life that leads […]
There are specific time restrictions on when you can file certain bankruptcy cases. For Chapter 7, you can only receive a discharge of certain debts every eight years. There are also complex rules for filing Chapter 13 subsequently to a Chapter 7. In the video below, we talk about Chapter 7 in particular and how […]
Protecting Life Insurance When filing a chapter 7 bankruptcy, you are allowed to protect a certain amount of personal property. One of those items of personal property is life insurance. Life insurance is treated two different ways when filing bankruptcy. The first involves term life insurance. Term life insurance provides for a death benefit. What […]
Chicago clients are concerned about utility bills and how a bankruptcy filing affects their services. They are happy to know that they can get service to continue to or have it turned back on if it was disconnected. The video below talks about ComEd in particular, but it applies to gas service and telephone service […]