All items from David M. Siegel | Chicago Bankruptcy Law

Bankruptcy Case This is the bankruptcy case study for JW from Chicago Illinois who is seeking bankruptcy protection. There is no real estate involved in this case. There is no rental situation in this case. The client owns a 2014 Nissan Versa which is financed through Nissan Acceptance Corporation. The vehicle is worth $17,000 and+ Read More
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Posted 1 week 3 days ago

Many people who are considering filing bankruptcy are interested in knowing how long the fact that they file bankruptcy will stay on a credit report. The answer is that proof of bankruptcy filing can last up to 10 years on a credit report. However, this fact should not dissuade one from filing for bankruptcy if+ Read More
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Posted 1 week 5 days ago

Waiting To File Bankruptcy There are so many people that I talk to over the course of a month who contemplate filing 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+ Read More



Posted 1 week 5 days ago

Jesse Barrientes: Well, Dave, what happens – you’d mentioned before about payroll control where the money is coming out. If I didn’t do payroll control, would my employer find out? Obviously if I’m doing payroll control, they’re going to know. But if I didn’t want to do that? David Siegel: Well, your employer only needs+ Read More
The post Chapter 13: 16 appeared first on David M. Siegel.



Posted 7 weeks 1 day ago

David Siegel:               What is it, other than paying the stuff back, what is it going to cost me in terms of attorney’s fees, court filing fees and I’m just guessing that the trustee is going to have to be paid.   Jesse Barrientes:         right.  The way it works right now and this is forever changing,+ Read More
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Posted 7 weeks 1 day ago

Jesse Barrientes:         Let’s take the situation that we were talking about before about getting credit.  So if we are getting credit for an automobile, let’s say that it becomes difficult for me because of the reasons you said.  Can I dismiss my 13 and refile it?   David Siegel:               You can.   Jesse Barrientes:         And+ Read More
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Posted 7 weeks 1 day ago

This video talks about the ability to pay off a Chapter 13 bankruptcy case early.  There are times when this is not a good idea. Jesse Barrientes:         Well, Dave, what happens if we are in this plan here for a couple years and let’s just say that I have inherited some money.  And you know+ Read More
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Posted 7 weeks 1 day ago

This video talks about obtaining credit while in a Chapter 13 bankruptcy case. Jesse Barrientes:         What happens if – because it’s going to be lean living during this time.  What happens if I need to get credit?  If I’m going to be able – if I’m locked into this plan for three years or five+ Read More
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Posted 7 weeks 1 day ago

This video talks about keeping all of your property in a Chapter 13 bankruptcy case.  However, the debtor could elect to surrender property as well.  It really depends upon the desires of the debtor. David Siegel: Does someone get to keep all of their property when they are in a Chapter 13 or do they+ Read More
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Posted 7 weeks 1 day ago

This video talks about creditors and their acceptance or rejection of a proposed plan. David Siegel: Let me ask you this, Jesse. Do creditors object to your plan for your organization or do they just accept it? Jesse Barrientes: It depends on the creditor. Sometimes they object. Essentially, and we talked about this which is+ Read More
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Posted 7 weeks 1 day ago