There are some cases under Chapter 7 where I will file a case prior to being paid in full. Those cases involve wage garnishments, bank citations or other court appearances required that would be a burden to the debtor and would actually hinder the debtor’s ability to pay the law firm in the long run. […]
Author Archives: David M. Siegel
At the time of this writing, the filing fees for Chapter 7 bankruptcy are $306. The filing fees for Chapter 13 bankruptcy are $281. Each law firm differs on how much they require down as well as how much they require in terms of a total fee to file a type of bankruptcy. In my […]
Once a Chapter 13 bankruptcy case is filed and a plan is proposed, it’s going to run for a certain number of months, typically between 36 and 60 month. Now, there are some cases that end much earlier than 36 months and there are no cases that can exceed the 60 months. So somewhere between […]
Differences Between Bankruptcy And Debt Consolidation There are huge differences between bankruptcy and debt consolidation services. If you’re filing a chapter 7, you are going to get a fresh start. If you are using a debt consolidation service, you are going to wind up paying back to creditors. It’s quite possible that you really don’t […]
How Soon Can I Buy? You can typically buy a house two years after the filing of a Chapter 7 bankruptcy. Lenders want to see that you have rehabilitated yourself after a bankruptcy filing. They want to see that you have not incurred any negative credit since the time of filing. They want to see […]
Payment Plans Are Available You most certainly can get on a payment plan to file a bankruptcy. In fact, most people do not have the ability to pay the lump sum which is the court costs and the attorneys’ fees, all at one sitting. What I like to do is offer a client a reasonable […]
All Creditors Must Be Listed If you are filing bankruptcy, then all of your creditors must be listed. This includes credit cards, personal loans, auto payments, mortgage payments and any other debt, including debts owed to family members. I understand that many people have lived off credit cards, they love the convenience of credit cards […]
Case Overview This is the case of Gary Kaplan from St. Charles, Illinois. Mr. Kaplan filed a Chapter 7 bankruptcy back in 2001 so he is eligible to file another Chapter 7 should the facts dictate that he file. He has a townhouse that has a market value of $188,000 and he owes approximately $46,000 […]
Creditors Should Not Call Creditors should not be calling you after your bankruptcy case is filed. In some cases, creditors just have not received the required notice under the Bankruptcy Code. In some cases, notice has gone to the proper address, however, there is a collection firm involved now who did not have knowledge of […]
This is the case of Michael Greer who comes from Park Ridge, Illinois seeking advice concerning debt. Mr. Greer has never filed for bankruptcy before. He is not a homeowner and he is currently renting from an individual on a month-to-month basis. He has a 2004 Lincoln Navigator that’s worth approximately $12,000 and he owes […]