All items from David M. Siegel | Chicago Bankruptcy Law

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 22 hours 33 min 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 3 days 21 hours 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 1 week 2 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 1 week 3 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 1 week 4 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 2 weeks 2 days ago

The amount that you pay back in a chapter 13 per month is dictated by your income and your expenses. The trustee is going to scrutinize your budget to make sure that you are putting all of your disposable income towards the repayment of creditors in your chapter 13 case. This means that you are+ Read More
The post How To Handle Your Finances Through A Chapter 13 Bankruptcy appeared first on David M. Siegel.



Posted 2 weeks 2 days ago

Believe it or not, there are certain circumstances where you are too broke to file. You simply don’t have the means to even come up with the filing fee which is $335. Just yesterday, a potential client walked 45 minutes to see me in my office. Not only was he unemployed, but he had his+ Read More
The post Can You Be Too Broke To File Bankruptcy? appeared first on David M. Siegel.



Posted 2 weeks 4 days ago

Case Set-Up This is the bankruptcy case study for Darius from Chicago, Illinois who was in my office to determine whether or not chapter 7 or chapter 13 will help him. He currently resides in Chicago and he has a spouse who will not be filing with him. He has filed a chapter 13 bankruptcy+ Read More
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Posted 3 weeks 1 day ago

You always have the ability to switch bankruptcy attorneys if you are not satisfied with your current attorney. Depending upon which type of bankruptcy case you have filed will determine whether or not it makes good sense to make the switch. For example, if you have already filed a chapter 7, fresh start bankruptcy, then+ Read More
The post Can I Switch Bankruptcy Attorneys After My Case Is Filed? appeared first on David M. Siegel.



Posted 3 weeks 1 day ago