All items from David M. Siegel | Chicago Bankruptcy Law

Exemption Amounts Every homeowner who is considering filing chapter 7 bankruptcy, understandably wants to know whether or not their house is going to be protected if they file for bankruptcy. In most cases, the home is going to be protected through the process. This is mostly due to the fact that there is not significant+ Read More
The post Can I Keep My Home And File Chapter 7? appeared first on David M. Siegel.

Posted 1 week 4 days ago

As a bankruptcy attorney in Chicago, I meet with countless people every year who are often more concerned about their credit scores then actually getting out of debt. There is a fear that filing bankruptcy will take the credit score to the point where the person will not be able to obtain credit in the+ Read More
The post You Should Be Concerned About Your Credit Score appeared first on David M. Siegel.

Posted 2 weeks 4 days ago

It is true that filing bankruptcy in some instances will allow you to regain your driver’s license. There are a few scenarios where this is definitely the case. The first of which is driving with no insurance. If you are caught driving with no insurance and your license is subsequently suspended, you can have that+ Read More
The post Reclaiming Your Driver’s License Through Bankruptcy Filing appeared first on David M. Siegel.

Posted 3 weeks 1 day ago

Searching for a bankruptcy lawyer can be a lot tougher than one might think. One of the main reasons for this is that people do not readily refer bankruptcy attorneys to other people because they don’t want to advertise to their friends, family, and co-workers that they had to file for bankruptcy. Thus, people are+ Read More
The post The Top Five Obstacles To Avoid When Searching For A Bankruptcy Lawyer appeared first on David M. Siegel.

Posted 3 weeks 4 days ago

Bankruptcy Provides Instant Relief When you file chapter 7 bankruptcy, the relief is instant. An automatic stay is created which is then sent to all of your creditors notifying them that you have filed for bankruptcy protection. Most collection efforts must cease from that point forward. You will have a meeting of creditors also referred+ Read More
The post Filing Bankruptcy Now Will Lead To A Fresh Start In 2015 appeared first on David M. Siegel.

Posted 4 weeks 1 day ago

It seems that just about every month or so a lender or a towing company is withholding the debtor’s vehicle despite the fact that a chapter 13 bankruptcy case had been filed. Most lenders are now up to speed on the Thompson case which governs cases in the state of Illinois with regard to repossessed+ Read More
The post Towing Company Cannot Withhold Debtor’s Auto In Chapter 13 Bankruptcy appeared first on David M. Siegel.

Posted 4 weeks 4 days ago

This Friday will mark nine years since the bankruptcy laws were last changed. That law known as BAPCPA which stands for Bankruptcy Abuse Prevention and Consumer Protection Act was really designed to prevent those who have the ability to pay from getting out of their obligations under chapter 7 bankruptcy. The credit card companies lobbied+ Read More
The post New Means Test Figures For Illinois Bankruptcy Filers appeared first on David M. Siegel.

Posted 5 weeks 3 days ago

The question arose recently as to whether or not a person should pay off their chapter 13 with inherited money that was received after the case was filed. The answer to that really depends upon whether or not the person is in a 100% paid back or whether or not the person is in a+ Read More
The post There Are Times When Not To Pay Off Your Chapter 13 appeared first on David M. Siegel.

Posted 5 weeks 4 days ago

There are so many people that claim that they want to get out of debt, yet they don’t make the first step. They lament over their financial situation. They complain that they’re being held back and there’s nothing that they can do about it. They’ve heard about bankruptcy, but they really don’t want to go+ Read More
The post If You Want To Get Out Of Debt, You Have To Make The First Step appeared first on David M. Siegel.

Posted 5 weeks 5 days ago

As a chapter 13 bankruptcy lawyer in Chicago, my goal is to help people reorganize their debt or to eliminate their debt so that they can improve their financial situation. This often means saving a home from foreclosure. It also may mean saving a vehicle from repossession. It also could mean stopping a wage garnishment+ Read More
The post Chapter 13 Bankruptcy Lawyer Reveals Pitfalls For Debtors appeared first on David M. Siegel.

Posted 6 weeks 3 days ago