Articles from David M. Siegel

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Chapter 7 Bankruptcy Answers

Submitted by Anonymous (not verified) on Thu, 07/23/2015 - 20:22

Chicago bankruptcy attorney David M. Siegel answers a few important questions pertaining to Chapter 7 bankruptcy.  The questions were made a part of the Legal Action television show which airs in the Chicago market. Whats a Chapter 7 Bankruptcy?  Interviewer: What’s a Chapter 7? David Siegel: Chapter 7 is the most common form of bankruptcy.  About 75+ Read More

No Directive From Chicago Area Chapter 13 Bankruptcy Trustees Yet

Submitted by Anonymous (not verified) on Wed, 07/08/2015 - 19:38

You may have heard that effective June 12, 2015 there is a proposed order to employer to pay the trustee for chapter 13 cases in the Northern District of Illinois, Eastern Division, bankruptcy court. The proposed order can be submitted by the attorney for the debtor or the trustee. However, we have not heard any+ Read More

Final Review Of Your Chapter 13 Bankruptcy Petition

Submitted by Anonymous (not verified) on Tue, 06/30/2015 - 23:06

Before your bankruptcy attorney pulls the trigger on an actual filing, you should undergo a thorough final review of your petition. You may discover that your monthly plan payment can change based upon your current circumstances. You may have assets that have shifted or otherwise transferred in the ordinary course of business. You also may+ Read More

Getting Out Of Your Mortgage Debt With Bankruptcy

Submitted by Anonymous (not verified) on Thu, 06/25/2015 - 19:50

With so many Americans underwater with their homes, it should not be surprising that many people have elected to walk away from their homes and file for bankruptcy. Chapter 7 bankruptcy allows for the liquidation of property, real and personal. The debtor has the opportunity in a chapter 7 bankruptcy case to surrender items that+ Read More

Chapter 13 Plan In Bankruptcy Can Be Modified

Submitted by Anonymous (not verified) on Wed, 06/24/2015 - 23:23

It is basically true that a chapter 13 plan typically will have a monthly dollar amount which will last for the duration of the case. However, there are certain circumstances were a chapter 13 plan in bankruptcy can be modified. One such case would be where the debtor has fallen behind on his monthly plan+ Read More

Responding To A Subpoena To Produce Documents In A Bankruptcy Case

Submitted by Anonymous (not verified) on Tue, 06/23/2015 - 17:57

Subpoenas Are Rare In Bankruptcy Subpoenas issued in consumer related bankruptcy cases are rare. They are usually issued by the United States Trustee pursuant to an investigation as to dischargeability. Although ordinary creditors do have the right to conduct 2004 examinations with court approval and subpoena documents, they often will not undergo the process because+ Read More

Amending The Chapter 13 Plan For Confirmation

Submitted by Anonymous (not verified) on Tue, 06/23/2015 - 00:39

Original Plan When a chapter 13 bankruptcy case is filed, an original plan is also filed with the court. The original plan is put forward to notify creditors, the trustee, and the court as to how the debtor proposes to repay creditors over a three to five-year period. The original plan is not likely to+ Read More

You Will Make It Through Your Bankruptcy; Don’t Panic

Submitted by Anonymous (not verified) on Fri, 06/19/2015 - 18:12

You Will Make It Through Your Bankruptcy; Don’t Panic For many people the thought of filing for bankruptcy is devastating. If it turns out that you need to file and you simply cannot pay off your debt, listen to the advice of your bankruptcy attorney and don’t panic. There are several panic mode incidents which+ Read More

There’s A New Way To Have Chapter 13 Payroll Orders Entered

Submitted by Anonymous (not verified) on Wed, 06/17/2015 - 20:30

New Local Form 25 Effective June 12, 2015, there is a new method to have chapter 13 payroll control orders entered before the court. The new system completely streamlines the process of getting the order entered quickly and effectively. The clerk’s office in the Northern District of Illinois came up with a new form, local+ Read More

Bankruptcy Attorneys Need To Be Aware Of Section 329

Submitted by Anonymous (not verified) on Fri, 06/05/2015 - 18:08

Section 329 of title 11 United States Code is entitled debtor’s transaction with attorneys. This section gives the court oversight in financial as well as transactional relationships between debtors and their attorneys. It basically states that any attorney representing the debtor in bankruptcy shall file with the court a statement of the compensation paid for+ Read More

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