The Bankruptcy Court Date When you file for Chapter 7 or Chapter 13 bankruptcy, you’re going to have to appear at a 341 meeting of creditors. It is called a 341 meeting of creditors because section 341 of the bankruptcy code requires a debtor to appear and be examined under oath. This 341 meeting of […]
Author Archives: David M. Siegel
Chapter 13 Bankruptcy Attorney And Saving Property Being a Chapter 13 bankruptcy attorney puts me in a unique situation. It allows me to help somebody either save a home from foreclosure or save a vehicle from repossession or otherwise reorganize unsecured and secured debt over a period of 3 to 5 years. When people come […]
The Automatic Stay Stops The Wage Garnishment When you file for bankruptcy, you obtain an automatic stay. The automatic stay is the instrument which basically tells creditors that they can no longer take certain actions in an effort to collect a debt from you. If you are being garnished and you decide to file bankruptcy, […]
Positive Experience After Filing Bankruptcy The overwhelming majority of my clients who go through filing bankruptcy through my office find it to be a very positive and rewarding experience. They get to start over again financially. They are allowed to obtain credit immediately after filing and that might take the place of a credit card […]
Information For You Bankruptcy Attorney When you are filing for bankruptcy, your attorney is going to want to know a series of information from you. Most importantly, he’s going to want to know what you own, what you owe, what you earn and what you spend. In my office, we have developed a confidential bankruptcy […]
The Percentage Will Depend Many clients want to know what percentage is going to get paid back to creditors if they file chapter 13 bankruptcy. The answer to this question depends on a number of different factors. First, the debtor’s income is factored into the equation right from the start. Second, we have to take […]
A Chapter 7 bankruptcy case can take can take anywhere from 3 to 4 months if someone moves very quickly. Allow me to explain. Chapter 7 involves the filing of a bankruptcy petition. The bankruptcy petition has to be prepared, signed by the client; the client must then take credit counseling and provide the most […]
Immediately after filing a bankruptcy case you have the ability to apply for credit. Most lenders are going to want to have you wait approximately 6 months to two years before extending you any kind of unsecured credit. You can apply for auto financing immediately after a bankruptcy filing. This is known as open bankruptcy […]
The bankruptcy petition is the document that gets filed with the clerk of the United States bankruptcy court. The petition is basically everything about you financially. It encompasses all of your assets, your liabilities, your income, your expenses and your statement of financial affairs. The bankruptcy petition is what the chapter 7 trustee is going […]
When Chapter 13 Bankruptcy Is Used Chapter 13 is a reorganization under the United States Bankruptcy Code. Chapter 13 allows you to repay debt over a three to five-year period. It’s most commonly used to save a home that’s been in foreclosure or to save a vehicle that’s been repossessed or to stop collection activity […]