A recent potential client called the office and wanted to get started with a filing. At the meeting, we talked about a greater likelihood of Chapter 13 based upon the income of the debtor and his spouse. Today, the talk came up about Chapter7 once again. Here is what I do in these situations: I […]
Author Archives: David M. Siegel
Oftentimes, when someone comes to see me for bankruptcy advice, they are already thinking beyond the process and into regaining credit. The trouble with this line of thinking is serious. Firstly, the client should be mostly concerned with getting out of debt. After all, the excessive debt is the reason for the consultation in the […]
Can I keep my car in Chapter 13 Bankruptcy? Yes, you can keep your car through Chapter 13. If your car is paid in full, it will just increase the amount that you have to pay back to your creditors based on the equity in your car. If you have a car that’s worth $10,000, […]
What is a Chapter 13 bankruptcy? A Chapter 13 bankruptcy is a reorganization of your debt or a repayment plan through the federal government of anywhere from 3 to 5 years. Chapter 13 bankruptcy is a very complicated process; much more complicated than Chapter 7 so an attorney is definitely something you should acquire before […]
You most certainly can stop bill collectors from calling you once you hire an attorney to handle your debt situation. Under the Fair Debt Collection Practices Act, creditors are prohibited from contacting you once they are made aware of the fact that you have representation. If creditors violate this Act, they can be sued in […]
The honest answer is it depends. You will certainly have the ability to keep your home provided that you make timely payments. Allow me to explain. One of the main benefits of filing Chapter 13 or the main reason why people file Chapter 13 is in order to save their real estate and other property. […]
There are several things that you should not do if you are considering filing for bankruptcy under either Chapter 7 or Chapter 13. One of the things that people do which is a prohibited act is repaying a family member or a friend within a year of filing for bankruptcy. This is known as a […]
Chapter 13 bankruptcy can help you in a ton of ways if you are struggling financially. The first way that Chapter 13 can help you is to save your house. If you have fallen behind on your mortgage payments because of the loss of job or illness or just unexpected expenses, you can put what […]
A creditors’ meeting is required under section 341 of the Bankruptcy Code. In simple terms, it is a meeting of the minds between the parties present at the meeting. The parties that will be present at the meeting will be you, the debtor; the debtor’s attorney, and a representative from the trustee’s office. If you […]
There are several things that you should not do if you are considering filing for bankruptcy under either Chapter 7 or Chapter 13. One of the things that people do which is a prohibited act is repaying a family member or a friend within a year of filing for bankruptcy. This is known as a […]