Can We Save Our Home With Bankruptcy?

    This is the bankruptcy case study for Todd, from Steger, Illinois, and his wife Emily. The couple is considering chapter 7 or chapter 13 bankruptcy, but is not sure which chapter is best for them. Let's explore the details. The couple owns a home in Steger, Illinois with a market value of approximately $110,000. The debt owed on the property to pay it off in full is $103,000. The problem is that they are $27,000 behind on their mortgage payment and close to losing the property to a foreclosure sale. The couple owns one vehicle, a 2003 Nissan Frontier which has 114,000 miles on it.  The vehicle is paid in full with a value of approximately $3000. The couple has a + Click Here For Read More

All Chicago Bankruptcy Lawyers Are Not Created Equal!

Chicago Bankruptcy Lawyer If you search for a Chicago bankruptcy lawyer, you are going to find a wide range of talent, fees, experience, demeanor and success. You will find everything from the entry-level attorney who is trying to help his first client all the way to the seasoned attorney who is closing in on retirement after helping thousands of clients. If you think that those two attorneys are equal, then you fail to realize a significant factor.  Experience Is key Factor There is no substitute for experience. It doesn't matter how well you did in law school. It doesn't matter how many books you read on the topic. It doesn't matter how many bar associations you are a member of. In the + Click Here For Read More

Do Most Bankruptcy Lawyers Accept Payment Plans?

Most Bankruptcy Lawyers Accept Payment Plans Most bankruptcy lawyers accept payment plans because they know that clients are struggling financially. Bankruptcy attorneys understand that clients are overwhelmed with debt. It is only when one stops paying minimum payments on credit cards, medical bills, personal loans and other debts whereby he or she will be able to make payments towards their bankruptcy attorney. The real question is whether or not the bankruptcy attorney is going to file your case prior to being paid in full.  Most Bankruptcy Lawyers Want To Be Paid In Full The typical bankruptcy attorney is going to want to be paid in full prior to filing your bankruptcy case. This fee + Click Here For Read More

Credit Card Spending Can Lead To Bankruptcy Filing

In Chicago and around the country, people are over spending on their credit cards. Maybe it’s the have it now, pay for it later mentality. Maybe it’s the convenience of not having to carry cash. Maybe it’s the enticements of rewards by using the card. Whatever the reason, folks have become too reliant on credit cards in their lives. The video below talks about how using your credit card instead of cash can actually increase to the total dollars that you spend. In many cases, this will lead to an eventual bankruptcy filing. Jesse Barrientes: I find that a lot of folks are simply using the credit card to live. They are paying – they are buying groceries or they are buying things that they + Click Here For Read More

Do I Need A Chicago Bankruptcy Lawyer If I Live In Cook County?

You are not required to use a Chicago bankruptcy lawyer if you live in cook County and wish to file for bankruptcy relief. Much more important than where the attorney is located, is what type of qualifications does the attorney have to handle your case. You might find a bankruptcy attorney within six blocks of where you live. You may later realize that the person is not the right attorney to handle your particular matter. Bankruptcy law has become quite complex since the law was amended in 2005. For that reason, the location of the bankruptcy attorney is not nearly as important as the qualifications of the bankruptcy attorney.  Cook County Is Larger Than Chicago As you probably know, Cook + Click Here For Read More

Why I Love Being A Bankruptcy Attorney In Chicago

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

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

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

Advanced Practitioner Advice From Chicago Bankruptcy Lawyer David Siegel

The automatic stay protects debtors from collection activities after a bankruptcy case has been filed. What about a case where there is insurance coverage available on behalf of the debtor? What I am referring to is a case where the debtor was involved in an auto accident, had insurance coverage and then files for bankruptcy protection under Chapter 7. In that case, the debtor is protected by the automatic stay and the creditor cannot pursue the debtor personally. However, since there was automotive insurance coverage in place at the time of the accident, which was before the case was filed, the creditor has a cause of action. Instead of pursing the debtor, the creditor has the legal right + Click Here For Read More

Chapter 13 Bankruptcy Can Help In Many Ways

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 you are behind on your mortgage (the arrears) into your bankruptcy reorganization plan; that way you can pay the amount that you fell behind over 3 to 5 year period and resume making the regular mortgage payment.  If you fall behind on your property taxes, you can pay those property taxes through Chapter 13 bankruptcy as well.  Reorganizing Your Financed Vehicle If you fall behind on your financed car, + Click Here For Read More

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