A Chicago Bankruptcy Timeframe for a case can last anywhere from 3 to 4 months from filing until discharge. This assumes that there is no objection to your discharge or no adversarial complaint in your case. Let’s start at the beginning. You need to meet with a bankruptcy attorney to go over your income, your expenses,+ Read MoreThe post Chicago Bankruptcy Timeframe: From Start To Finish appeared first on David M. Siegel.

The interplay between divorce and bankruptcy is confusing. There are also important decisions to make when deciding whether to file bankruptcy and when to end a marriage. Divorcing is generally easier on all parties when the divorcing couple can agree on as many issues as possible. This is especially true for division of debt in+ Read MoreThe post Divorce and Chapter 7 Bankruptcy appeared first on David M. Siegel.

New Filing Fees Starting June 1, 2014, bankruptcy filing fees are going to increase. The filing fee for a chapter 7 bankruptcy case is increasing to $335.00. The filing fee for a chapter 13 bankruptcy case is increasing to $310. 00. So if you’re already struggling to pay your debts and are seeking bankruptcy protection,+ Read MoreThe post Getting Out Of Debt Just Got A Little Tougher appeared first on David M. Siegel.

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+ Read MoreThe post Do I Need A Chicago Bankruptcy Lawyer If I Live In Cook County? appeared first on David M. Siegel.

Most clients who call seeking chapter 7 bankruptcy relief do not have significant equity in their real estate. In fact, most clients who call today have no equity in their real estate. Since the real estate market plummeted several years ago, most clients are in a situation where they owe more on the property than+ Read MoreThe post How Much Equity Is Too Much For Chapter 7 Bankruptcy? appeared first on David M. Siegel.

There are secured creditors that must be treated a certain way in a bankruptcy case.  The transcription below touches the surface on what a secured creditor is and what types of decisions have to be made with regard to those secured creditors. Jesse Barrientes: You said there were secured and unsecured creditors.  So then unsecured creditor+ Read MoreThe post Secured Creditors In Bankruptcy appeared first on David M. Siegel.

Before the court confirms your chapter 13 plan, you will have to pass what is commonly referred to in bankruptcy law as the “feasibility” test. This isn’t really a test, but the court will look at whether or not the information we provide in the bankruptcy forms and schedules show enough income so that you can make the proposed payments. Whether it is the monthly payments you are proposing or a lump sum payment to be paid at the end of the plan, we should be able to show that the plan can be reasonably completed with the resources we report in the schedules. The post Is Your Chapter 13 Bankruptcy Plan Feasible? appeared first on Tucson Bankruptcy Attorney.

Chapter 7 Bankruptcy Discharge There are certain eligibility requirements in reference to getting a discharge under the bankruptcy code. Let’s begin with the most common form of bankruptcy which is a chapter 7 fresh start. Chapter 7 is when someone, an individual typically, has very little in the way of personal assets but has a+ Read MoreThe post Eligibility For A Bankruptcy Discharge appeared first on David M. Siegel.

The most important thing about filing bankruptcy is the initial consultation with a bankruptcy attorney. It is not the price. It is not the location of the office. It is not the number of cases that the attorney has filed over the year. It is not whether that attorney is advertising on television. It is+ Read MoreThe post Filing Bankruptcy: The Initial Consultation appeared first on David M. Siegel.

Not A Failure Filing bankruptcy does not have to be looked upon as a failure. Bankruptcy can be looked upon as an opportunity to get a fresh start or to reorganize debt under existing federal bankruptcy laws. I don’t believe anyone sets out to file for bankruptcy. However, certain events happen in life that leads+ Read MoreThe post Is Filing Bankruptcy A Form Of Failure? appeared first on David M. Siegel.