Where Has Salesmanship Gone Among Bankruptcy Attorneys?

Bankruptcy Is A Service Business As bankruptcy attorneys, we are in the service business of getting people out of debt. This could come in the form of a chapter 7 bankruptcy or a chapter 13 bankruptcy depending upon the facts of the case. We have the solutions available at our disposal thanks to the bankruptcy laws enacted by Congress. It seems however, that there is an underlying ethical consideration prohibiting salesmanship in regard to filing. Although not specifically written in any ethical rule, it is silently hindering an attorney's ability to sell the service. As in other aspects of life, those that can sell themselves, their services and other benefits, often achieve more than + Read More

How Waiting To File Bankruptcy Can Hurt You

Waiting To File Bankruptcy There are so many people that I talk to over the course of a month who contemplate whether to file bankruptcy yet take no action. Many of these people feel that the problem will simply go away. Some people feel that their financial situation is going to somehow change on its own. Others feel that the creditors will simply give up on their collection efforts. Others take affirmative steps which actually create more of a financial burden and stress then if they did nothing at all.  Group One Let's look at the first group. These are the types of people that believe that if they just ignore the situation, everything will magically go away. Obviously, this is what we + Read More

Three Important Decisions When Filing Bankruptcy

The first important decision when filing bankruptcy is should I file? Most clients struggle with whether or not to file for bankruptcy. Even if the person has significant outstanding debt, there is still often a question as to whether or not filing bankruptcy is the right solution. People worry about their credit scores. People worry about obtaining financing for such things as homes and cars after they file for bankruptcy. People fail to realize that they are actually in a better position to obtain financing shortly after filing bankruptcy then the current timeframe. There is also a moral question for many people. Is bankruptcy and easy way out? Is bankruptcy is the wrong thing to do vies a + Read More

Will The Chicago Bankruptcy Trustee Take My Tax Refund?

Chicago Bankruptcy Trustee In certain circumstances a Chicago bankruptcy trustee can take your tax refund. It all depends however on the facts of the case. Let's start with the chapter 7 situation. If you receive your tax refund prior to your chapter 7 bankruptcy case being filed and you exhaust that refund prior to the 341 meeting of creditors, a chapter 7 trustee is typically not going to make an issue of it. This assumes that the tax refund was not $7,000 - $10,000. If however, you file your bankruptcy case and appear before the trustee and you have not yet received your tax refund, then the chapter 7 trustee is at a much greater likelihood of inquiring about the refund and demanding + Read More

Will Bankruptcy Release The Freeze On My Bank Account?

A recent client came to see me many months back to talk about potentially filing for bankruptcy. He was not even thinking about a bankruptcy release at that time. This person knew that he had debt, but he was reluctant to file for some reason. Many people think that if they just keep avoiding lawsuits or garnishments, that they can somehow ride out the debt without having to file. This strategy doesn't work in some situations. Some creditors are not very aggressive in pursuing the debt. Some creditors will simply not file a lawsuit in an effort to collect a debt. They will turn over the debt to a collection agency who will call like crazy to try and get some money out of the debtor. However, + Read More

Filing Bankruptcy On Your Chicago Utilities

Chicago Utilities You can file bankruptcy on your past-due utility bills. You may owe money to Comed and are close to a shut off. You may owe money to Nicor gas and are close to a shut off. You may owe money to AT&T and are already shut off. No matter what your situation, if you are filing bankruptcy, your utilities can be affected. The best way to think of the situation is this: whatever you owe on your utilities prior to filing your bankruptcy case is eliminated upon the filing of your bankruptcy case. So if you owe $1100 to Comed and you subsequently file for bankruptcy relief, the amount that you owed prior to the date of filing is eliminated in a chapter 7 bankruptcy or subject to + Read More

Filing A Joint Bankruptcy: When Does It Make Sense?

Joint Bankruptcy Filing a joint bankruptcy makes perfect sense when you are married and both you and your spouse have either joint debt or separate debt. Since the means test is going to take into consideration your entire family income, you might as well try to eliminate your entire family debt in one fell swoop. As long as you are married, you can file a joint bankruptcy case and eliminate joint debt as well as individual debt. Much like a joint tax return, the couple can file together with one filing fee, one attorney fee, and one massive amount of federal bankruptcy relief. Filing Individually Now many couples do not want to file together. In some situations, one spouse has the + Read More

Smart, Pre-Bankruptcy Planning

Pre-Bankruptcy Planning It is best to file bankruptcy after you have had a chance to plan for your filing. Most people have thought long and hard about whether or not to file a bankruptcy case long in advance of the actual filing. It is true that some people bury their heads in the sand and think that their financial problem will handle themselves on their own. But for most people, bankruptcy is not something that creeps up overnight. Bankruptcy is an idea that comes into one’s mind after they realize that they just cannot manage the debt anymore. It is usually not one catastrophic event. It is usually a sequence of events over time that leads one to the conclusion that bankruptcy may be + Read More

What Does It Take To File Personal Bankruptcy In Chicago?

Personal Bankruptcy Filing Fees As of today, the court filing fee for a chapter 7 bankruptcy case is $335. The court filing fee for a chapter 13 bankruptcy case is $310. You should plan on having those funds available at the time you meet with your lawyer. The lawyer that you meet with is going to quote you a separate fee for whatever he or she is charging. But at a minimum, you will need the court costs before anything can be officially filed. Let's talk about some other requirements for filing bankruptcy.  Credit Counseling You will have to take a credit counseling session. This is typically a one hour session in person, on the computer, or over the phone where a credit counseling + Read More

Is Filing Personal Bankruptcy Public?

Personal Bankruptcy Is Technically Public The fact is that filing a personal bankruptcy case is public record. However, the fact you filed is not something that is easy to obtain by the general public. There is a public access system known as PACER which contains information regarding bankruptcy filings throughout the country. To gain access to that system you must register and pay per page of each document you obtain. For this reason, the general public typically doesn't obtain a pacer account. Pacer is more or less used for bankruptcy professionals, lenders, and others who have a direct need to look up prior bankruptcy cases in detail. The fact that you filed personal bankruptcy will + Read More