If you are considering filing for personal bankruptcy, you may be feeling overwhelmed and intimidated by the process. Whether you are confused about the types of bankruptcy or are not sure how to proceed with the chapter you have chosen, there are lots of questions you may have.
Author Archives: David M. Siegel
For those who are owed or paying child support prior to filing for bankruptcy, the idea of discharge can be either terrifying or welcome. Regardless of which one applies to you, though, the truth of the matter might be altogether different than you imagined.
When filing for personal bankruptcy, it can sometimes be difficult to determine which bankruptcy chapter is the right one for you. Many factors are at play when making this decision, but the first priority for anyone considering either is to learn more about bankruptcy itself. While there are technically more than two types of personal […]
A new announcement has just been submitted by the Clerk of the United States bankruptcy Court for the Northern District of Illinois. Going forward in the post-Covid future, the outlying collar county court calls will no longer be heard in those collar counties. The matters will be heard via Zoom for Government or a party […]
The decision to file for bankruptcy is one that may take a lot of time and thought. It often comes at a very difficult time in one’s life. The stress and uncertainty about the anticipated results as well as the fear of what the future will look like only adds to the difficulty. Without the […]
Dischargeability of Student Loans The American Bankruptcy Institute recently released their final report on consumer bankruptcy. This report took place from 2017-2019 and analyzed dozens of issues as they relate to Chapter seven and Chapter 13 bankruptcy. The first issue that I would like to address is the non-dischargeability in general of student loans. […]
As the new year has begun, it is time to look at the bankruptcy filing statistics from the first part of 2019 as compared to the first part of 2018. This fact will dictate where we may be heading for the rest of 2019. As expected, total bankruptcy filings in January 2019 increased 5 percent […]
When: Effective January 1st, there is new help for Chapter 7 debtors who owe money to the City of Chicago for parking tickets and related fines. A new Ordinance, sponsored by Mayor Emanuel provides in part that: Payment Plan: An eligible bankruptcy debtor may establish a payment plan to repay fines that were incurred within […]
Taxes, Refunds & Dismissals During the past several years, there has been a huge increase in Chicago trustees under Chapter 13 demanding taxes and refunds of the debtors. The bankruptcy code requires that a debtor provide to the trustee, annually, a copy of his or her tax return. This statutory requirement was primarily to ensure […]
Initial Facts This is a bankruptcy case study for Ms. F. who resides in Aurora, Illinois. She is in the office to determine whether or not she can qualify for chapter 7, the fresh start bankruptcy. Otherwise, she is potentially interested in a chapter 13 bankruptcy case which is a reorganization of debts. Let’s look […]