A credit counseling session must be taken prior to a bankruptcy case being filed. You want to make sure that you do not take the credit counseling too far in advance of your bankruptcy filing. The bankruptcy code mandates that the credit counseling session must be completed within 180 days prior to your actual filing. […]
Author Archives: David M. Siegel
This is a case of Santana Magentey who comes to me from South Ellis Ave., Chicago, IL. Santana is coming to me for a free, initial consultation regarding bankruptcy. She basically wants to know if she can re-file a chapter 7 bankruptcy case to obtain a new start. Let’s take a look at the facts […]
When you file for chapter 7 bankruptcy and you have a secured vehicle, you have three choices which you can make. You can either reaffirm on the debt, you can redeem on the debt or you can surrender the property in full satisfaction of the debt. If you decide to reaffirm the debt on your […]
Chapter 13 Bankruptcy – Payroll Control In some jurisdictions, payroll control is mandatory. This is where the money to pay your Chapter 13 trustee is deducted by court order out of your pay. Now, payroll control can only work if you have a job. If you are self-employed, or if you are on unemployment, if […]
The Code Dictates The bankruptcy code is what governs every issue of a bankruptcy filing. Under chapter 7 bankruptcy law, the bankruptcy code dictates as to what must be done with regard to particular, secured property. For example, if you have a financed vehicle in a chapter 7 bankruptcy case, the bankruptcy code mandates that […]
If you file bankruptcy with an attorney, you’re going to get assistance throughout the process. Your attorney is going to know exactly what needs to be done with your case. This all starts with the very first consultation. The attorney is going to be able to interview you, advise you, and notify you of potential […]
Reasons To File Bankruptcy People hesitate to file bankruptcy for a variety of reasons. The first is the name bankruptcy has a negative connotation which has been around for centuries. The truth is bankruptcy was put in place to help people who are struggling financially. Bankruptcy is not a scarlet letter that someone has to […]
If you’re looking to save a home from foreclosure, chapter 13 will help you provided you file your bankruptcy case before a Sheriff sale has taken place. Chapter 13 will allow for you to pay back your mortgage arrearages over a three to five-year period. You also have to make your regular mortgage payment each […]
Court Is In Chicago If you live in Chicago or any part of Cook County, Illinois and file bankruptcy, then your court date is going to be in downtown Chicago. The court will take place at the Dirksen Federal building which is located at 219 South Dearborn Street in Chicago. The court date is in reality […]
Filing chapter 13 bankruptcy is not a one-shot deal. You do have the ability to file another chapter 13 bankruptcy case should your first case fail states Chapter 13 bankruptcy attorney David Siegel. No one sets out to fail in bankruptcy. Debtor’s and their counsel wish to file a perfect chapter 13 petition and to […]