Please be aware that in recent weeks several current bankruptcy clients from multiple law firms in the Chicago area have been victimized or attempted to be victimized by a fraud scheme. This is how the fraudulent effort plays out in essence. There are two specific individuals that play a part in this scheme. The first […]
David Siegel: Of course, the creditors have an opportunity to show up at this meeting, and witness it, ask a few questions, possibly tell the trustee about something that they may know about the debtor. For example, if there’s property in Wisconsin that was not disclosed or an old Corvette that miraculously didn’t make the schedules. […]
While there are thousands upon thousands of questions pertaining to bankruptcy that I field every year, it seems that I hear three specific questions most often. I want to take the time to share the answer to those questions today. The three questions are: 1) How much is it to file? 2) Will I be […]
Chapter 13 bankruptcy is complicated. They are difficult cases from the standpoint of debtors, creditors, bankruptcy attorneys and at times the bench. For this reason, things don’t always proceed smoothly the first time through the process. Like anything else, there is a learning curve to doing things. For debtors, the learning curve can be drastic. […]
While it is typically true that there are generally three options available to debtors in a chapter 7 bankruptcy with regard to their autos, there may in fact be a fourth option. In a chapter 7 bankruptcy case the debtor has the ability to reaffirm, redeem or surrender and auto. A fourth option which seems […]
In this excerpt from Legal Action, Attorney David M. Siegel talks about the creation of the automatic stay in bankruptcy. Some debts are eliminated whereas others are not. It all depends upon the type of debt and the type of bankruptcy. Interviewer: What happens if I’ve got a garnishment or a threat of garnishment or […]
In this excerpt from the Legal Action television show, Attorney David Siegel talks about the types of debts that can be eliminated in a Chapter 7 case. He also covers the fact that student loans are not typically eliminated in bankruptcy. What type of debts can be eliminated through a Chapter 7 Bankruptcy? A: David […]
This excerpt from the Legal Action television show highlights the fact that there are pre-filing requirements that must be satisfied prior to filing for bankruptcy. Long gone are the days where a person could simply fill out some papers from an office supply store, head down to the Clerk of the U.S. Bankruptcy Court and […]
Chicago bankruptcy attorney David M. Siegel answers a few important questions pertaining to Chapter 7 bankruptcy. The questions were made a part of the Legal Action television show which airs in the Chicago market. Whats a Chapter 7 Bankruptcy? Interviewer: What’s a Chapter 7? David Siegel: Chapter 7 is the most common form of bankruptcy. About 75 […]
You may have heard that effective June 12, 2015 there is a proposed order to employer to pay the trustee for chapter 13 cases in the Northern District of Illinois, Eastern Division, bankruptcy court. The proposed order can be submitted by the attorney for the debtor or the trustee. However, we have not heard any […]