Rebuilding after bankruptcy is a process. It starts with not incurring any negative credit after such time you file for bankruptcy. For example, after your bankruptcy case is over, you want to make sure that you do not incur any negative credit items on your credit Bureau. This would include not falling behind on any installment obligations, not incurring any medical debt that goes unpaid, and not incurring any utility bills that do not get paid timely. If you can start paying everything on time, then you will begin to see your credit score increase. Another important thing that you can do once you're bankruptcy case is over, is to obtain a secured credit card. A secured credit card is + Click Here For Read More
Why I Love Being A Bankruptcy Attorney In Chicago
January 11, 2014 by
Being a bankruptcy attorney is a unique situation. It is one of the few areas of law where the attorney can actually assist the client and at the end of the service, the client is 100% pleased with how everything went. In most areas of law, whether it be contract law, divorce law, criminal law, the client is not 100% happy with the results. This is due to the fact that legal services often involve a negotiation or a give and take where one party gets something in exchange for the other. Thus there is never a clear winner and usually both sides are not feeling like they got the greatest deal. With bankruptcy, the results are typically known ahead of time by the lawyer. The lawyer’s going + Click Here For Read More
Helpful Tips To Select A Bankruptcy Attorney
January 10, 2014 by
If you are someone who is considering filing for bankruptcy, then the most important decision that you're going to make in that process is deciding which attorney you are going to hire. In some cities, there are literally hundreds of bankruptcy attorneys that are advertising their services in directories, on the Internet, and newspapers. But how do you decide which attorney is going to be right for you? Are you going to base your decision solely on price? Are you going to ask that particular attorney if he or she can provide references of people that they have helped? Are you simply going to go out on a limb and hire whichever name sounds good? Choosing a bankruptcy attorney is much like + Click Here For Read More
Chicago Bankruptcy Attorney Has Helped Thousands, Since 1991
January 9, 2014 by
Since 1991, David Siegel has been helping people get out of debt in Chicago and in the suburbs. Over 75% of prior bankruptcy clients filed a chapter 7 bankruptcy. Chapter 7 bankruptcy is also known as fresh start bankruptcy. It allows someone who has unsecured debts to gain a fresh start within a matter of months. Unsecured debts such as credit cards, medical bills, past-due utilities, auto repossession deficiencies, foreclosure deficiencies and most other debt can be eliminated in a chapter 7 bankruptcy filing. There are some debts that are not limited in a chapter 7 bankruptcy filing. Those debts include student loans, recent taxes, parking tickets, child support and maintenance payments + Click Here For Read More
Will Filing For Chapter 7 Bankruptcy Save My Life?
January 7, 2014 by
The answer depends on what is the situation in your life right now. You may be struggling with credit cards, medical bills, personal loans or any other type of debt. Sometimes you have creditors calling you on the phone, harassing you at work or just sending you letters making your life miserable. At other times, the creditor can actually be taking money out of your pocket in a way of garnishment, bank seizure, or straight payment plan. If the amount being taken out of your pay depletes your resources to the point where you cannot support yourself or your family, then bankruptcy is probably your best option. If you are someone who is struggling financially and need a fresh start, a chapter 7 + Click Here For Read More
How does a Chapter 13 Bankruptcy effect a cosigner?
December 31, 2013 by
If you are a cosigner on the debt, then you and the other debtor are technically joint and severally liable for that debt. One common form of debt that’s jointly owned is that for a vehicle. If somebody else filed a Chapter 13 bankruptcy on it vehicle that you cosign, you may be protected under that persons Chapter 13 bankruptcy provided they pay the debt in full 100%. If, on the other hand, they decide to pay less than 100%, then the creditor has the ability to bring a Motion to Modify the Stay and come after you, the non-filing co-debtor for the difference. What we usually see in these types of cases is the debtor filing a 100% Chapter 13 to protect that co-debtor. But please keep + Click Here For Read More
The Case Tilts Toward A Chapter 7 Bankruptcy Filing
December 28, 2013 by
This is the case of William Forte, who comes to see me from Great Lakes, Illinois which is Lake County, Illinois regarding a Chapter 7 bankruptcy petition. He did file a bankruptcy back in 1999 under Chapter 7. It’s been over eight years so he is eligible to file again. He does not own a home. He is renting and he is on a yearly lease which expires in December. He has a vehicle debt, a 2010 Honda Accord financed through Honda Financing. He owes approximately $18,000 on the vehicle and he pays $480 per month for the vehicle. In terms of personal property, he has a checking and savings account with Armed Forces Bank approximate balance $600. He has minor household goods worth + Click Here For Read More
Chapter 7 Bankruptcy Would Provide The Fresh Start Needed
December 23, 2013 by
This is the case of Melika Murray who comes to me from North Chicago which is Lake County, Illinois for a bankruptcy consultation. Ms. Murray has never filed for bankruptcy before, even though she states that she has been struggling for debt for over 20 years. She owns no real estate. She is renting and she is paying approximately $525 per month on a month to month lease. She does not have a vehicle in her name and she uses public transportation. She has very little in the way of personal property. Basically her clothing and some minor household goods with approximately $1000. She does not have a 401(k), she has no life insurance. She cannot sue anybody. She does not receive any + Click Here For Read More
Bankruptcy Filing Will Depend Upon The Means Test
December 21, 2013 by
This is the case of Jeffrey and Debra Miller who live in Gilberts, Illinois which is in Kane County Illinois. They were here for a consultation on either Chapter 7 or Chapter 13 bankruptcy. As we run through the facts here, they have not filed a bankruptcy before. They do own a home with a first and a second mortgage on it. The houses valued at approximately $165,000. They owe $135,000 to the first mortgage and $63,000 to the second mortgage so there is effectively no equity in the property. They are not renting from anybody and nobody is renting from them. They have three vehicles, a 2003 Toyota Siena which is paid in full valued at approximately $2000. They have a 2006 Hyundai + Click Here For Read More
Chapter 13 Bankruptcy Helps Pay Off Parking Tickets
December 7, 2013 by
This is the case of Willie Banister from Chicago, Illinois who was appearing for a Chapter 13 bankruptcy consultation. Mr. Banister has never filed a bankruptcy before. He is not a homeowner. He is renting on a month to month lease from a landlord in Chicago. He does not own a motor vehicle. In terms of personal property, he has household goods worth approximately $300 and clothing worth approximately $300. He does not have a 401(k), IRA or other pension or profit sharing plan. He does expect a tax refund of $1100. He cannot sue anybody for personal injury or workers compensation and he does not expect to inherit any money in the next six months. He is divorced and he works for the + Click Here For Read More
