Initial Facts This is a bankruptcy case study for Ms. F. who resides in Aurora, Illinois. She is in the office to determine whether or not she can qualify for chapter 7, the fresh start bankruptcy. Otherwise, she is potentially interested in a chapter 13 bankruptcy case which is a reorganization of debts. Let’s look […]
Category Archives: Chapter 7 Bankruptcy
Chapter 7 or Chapter 13 For consumers who are thinking about filing for bankruptcy, the advice of which chapter to file from an attorney is the most critical piece of information right from the start. The difference between Chapter 7 and Chapter 13 is significant. Chapter 7 is known as a fresh start which allows […]
While it is possible to change bankruptcy attorneys in the middle of the case, it often will not make a difference in the outcome of the case. The relationship between a client and a bankruptcy attorney is one of trust, confidence, respect, diligence and communication. If there is a breakdown in any one or more […]
New Rules To Recover Impounded Vehicles In recent months, there has been a tidal wave of activity surrounding bankruptcy, the City of Chicago, parking tickets and consumers trying to recover their impounded vehicles. For many years, it was common practice for the City of Chicago to release vehicles back to a debtor upon the filing […]
You should complete your Chapter 13 bankruptcy case before you apply for new credit. You should wait the 3-5 years while the case is running since you are holding off your current creditors. In some cases, a vehicle can be purchased and financed after filing, provided a proper motion is brought before the court which […]
For over 11 years, the Legal Action television show has been airing on a weekly basis throughout the suburbs of Chicago on Comcast. Providing exceptional legal advice in the area of bankruptcy is a valuable tool for many people who are either considering bankruptcy or who have already made that decision to file. The information […]
I’m So Afraid To File Bankruptcy There is a very common concern or fear among those that are in debt with regard to filing for bankruptcy relief. They fear what they don’t know. They don’t know whether they are going to ever get credit again. They fear whether the entire world is going to find […]
The Bankruptcy Code puts specific demands upon the debtor seeking to eliminate debt through a bankruptcy filing. It is important for clients to realize that these demands are inherent in the bankruptcy code and are not needless demands from their bankruptcy attorney. In many cases, debtors will wrongfully assume that the demand is coming from […]
If you’re thinking of filing for bankruptcy, take the advice of an experience, bankruptcy attorney. Be honest, truthful, open and revealing when dealing with your bankruptcy lawyer. If you have assets that are going to be unprotected, your lawyer will advise you with regard to those assets. If you have made transfers that could be […]
3 Options Regarding Financed Cars When a person files for chapter 7 bankruptcy relief and they have a financed vehicle, the debtor has three options with regard to that secured debt. The debtor can reaffirm the debt on the vehicle, redeem the debt on the vehicle or surrender the vehicle in full satisfaction of the […]