Articles from David M. Siegel

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The Importance Of The Non-Filing Spouse In Chapter 13 Bankruptcy

Submitted by Anonymous (not verified) on Wed, 03/02/2016 - 17:01

Not every married couple files a joint chapter 13 bankruptcy case. However, the income and expenses of the non-filing party is critical in determining how much the filer has to pay per month to a Chapter 13 trustee and for how long. This relatively new concept stems back to the bankruptcy reform of October 17,+ Read More

Confirmation Of A Chapter 13 Plan: The Liquidation Test

Submitted by Anonymous (not verified) on Fri, 02/26/2016 - 18:22

When a chapter 13 case is up for confirmation, the court, the trustee and the debtor must comply with section 1129 of 11 U.S.C.  This section deals with confirmation of a plan and it lists all the different factors that must be complied with for the court to sign an order confirming the plan. Most+ Read More

Chapter 13 Filing With Limited Debts

Submitted by Anonymous (not verified) on Sat, 02/20/2016 - 18:10

When Chapter 13 Makes Sense There are certain circumstances where chapter 13 makes perfect sense even though there may not be a lot of debt being repaid. A perfect example of this would be if a person’s driver’s license is suspended due to failure to pay parking tickets to the City of Chicago. Let’s say+ Read More

Is My Chapter 13 Bankruptcy Case On The Verge Of Dismissal?

Submitted by Anonymous (not verified) on Thu, 02/18/2016 - 20:30

Chance For Dismissal This is a question that comes up on nearly every chapter 13 bankruptcy case that is filed. It is almost impossible to make it through the chapter 13 filing process without some sort of difficulty. The difficulty might stem from the trustee, a creditor, the regulations, or the debtor himself. There are+ Read More

When Bankruptcy Is Not Enough: Be Careful When Investing In Suspect Real Estate

Submitted by Anonymous (not verified) on Thu, 02/11/2016 - 18:40

Invest Wisely I have to share with you a cautionary tale of a prior client who had an investment in a real estate property on the South side of Chicago. The neighborhood in which he invested was not great.  In fact, it’s one of the two or three neighborhoods in Chicago that has not seen+ Read More

How Soon Will I Get Credit After Filing Bankruptcy?

Submitted by Anonymous (not verified) on Wed, 02/10/2016 - 00:13

It’s amazing to me that people are worried about getting credit before they even completed a bankruptcy case. This is due in fact based upon Americans desire and obsession for credit. After all, credit is what more than likely got the person into financial problems to begin with. Now there are other causes of bankruptcy+ Read More

Some Judges Making It Difficult For Bankruptcy Attorneys To Get Their Fees Ordered

Submitted by Anonymous (not verified) on Mon, 02/08/2016 - 22:18

Problems Getting Paid In The Past Over the past 20 years, I have been searching for the reason or reasons why bankruptcy judges make it so difficult for bankruptcy attorneys to get paid in Chapter 13 consumer bankruptcy cases. This goes all the way back to the early 1990’s when some judges would simply not+ Read More

Co-Debtor Stay In Bankruptcy

Submitted by Anonymous (not verified) on Wed, 01/27/2016 - 20:06

The co-debtor stay applies in chapter 13 of the United States Bankruptcy Code and goes into effect immediately upon the filing of the case. The co-debtor stay will prohibit any action or continued action to collect on a consumer debt from an individual who secured such debt or who is liable on such debt with+ Read More

Lower Gas Prices May Forestall Some Bankruptcy Filings

Submitted by Anonymous (not verified) on Mon, 01/25/2016 - 22:07

Gas Prices Drop As gas prices continue to drop, the yearly benefit to the average consumer can approach $750.00 or more per year.  This precipitous drop in prices may help many that are on the fence about filing for bankruptcy.  For a married couple, the savings can approach $1,500.00 or more.  Here are the details:+ Read More

What Happens When I File Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 01/21/2016 - 17:33

Below is a partial transcript of David M. Siegel as he talks bankruptcy law for the Legal Action television show which airs on Comcast Cable throughout Chicago and its suburbs: Interviewer: Let me ask you this.  I work at a bank so is my employer going to find out if I do a bankruptcy? David Siegel: Your+ Read More

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