Articles from David M. Siegel

Primary tabs

More Chapter 7 Bankruptcy Trustees Taking Liberties With The Bankruptcy Code

Submitted by Anonymous (not verified) on Wed, 06/03/2015 - 18:23

Most chapter 7 bankruptcy trustees in Cook County do a great job of balancing their duties while administering chapter 7 cases. There are more than a select few Trustees who seem to be growing towards advancing these cases beyond what they were intended to be. Let me provide a little background. The duties of a+ Read More

Married Couples Do Not Need To File Bankruptcy Jointly

Submitted by Anonymous (not verified) on Tue, 06/02/2015 - 18:03

Bankruptcy Misconception There is a misconception out there that states that a married couple must file a joint bankruptcy case. This is simply not the case at all. It is true that the total family budget is a factor in determining whether a bankruptcy case can be filed and of which chapter. However, there is+ Read More

Providing The Right Documents To The Chapter 13 Trustee

Submitted by Anonymous (not verified) on Mon, 06/01/2015 - 23:33

There are many keys to having a successful chapter 13 bankruptcy case. Most importantly, a successful case is one where the debtor has the financial ability to reorganize, the determination to see it through and the ability to satisfy the many requirements of the bankruptcy code. One main factor that I found to be a+ Read More

Chapter 7 Bankruptcy Trustee Questions A Stock Loss

Submitted by Anonymous (not verified) on Fri, 05/29/2015 - 18:20

During a recent chapter 7 341 meeting of creditors, the trustee inquired about a stock loss. The inquiry was a result of examining the debtor’s tax return for the current year and seeing a carryover loss of nearly $40,000. The trustee wrongfully believed that the debtor had sold or liquidated $40,000 worth of stock during+ Read More

Bankruptcy Is The Answer To Recovering An Impounded Car: But Be Patient

Submitted by Anonymous (not verified) on Wed, 05/27/2015 - 17:51

Recovering Your Vehicle More and more clients are filing chapter 13 bankruptcy to recover their vehicle which was impounded by the city of Chicago. This is the very common case where someone with Chicago parking tickets winds up on the boot list and eventually their vehicle gets impounded. They also receive a notice from the+ Read More

Filing Bankruptcy On Your Own: It’s Not That Simple

Submitted by Anonymous (not verified) on Fri, 05/15/2015 - 21:29

You can file a bankruptcy case on your own which is known as filing pro se. However, I would not recommend this and I would certainly never recommend it in a chapter 13 bankruptcy case. Approximately once per month, someone will come into my office who has filed a bankruptcy case on their own behalf+ Read More

You Can Keep Property In Illinois And Still File Bankruptcy: There Are Limits Though

Submitted by Anonymous (not verified) on Tue, 05/12/2015 - 18:31

There is a huge misconception out there that basically states that in order to file for bankruptcy relief you have to be penniless. This misconception stems from the fact that most people are not aware of Illinois personal property and real property exemption laws. The exemption laws are actually independent laws separate from the United+ Read More

Bankruptcy Will Unfreeze A Bank Account, But Not Overnight

Submitted by Anonymous (not verified) on Mon, 05/11/2015 - 18:50

Third-Party Citations One of the ways that a creditor with a judgment against you can attempt to collect a debt is to attach or seize your bank account. This is done by filing a third-party citation to discover assets in the Circuit Court and having it served upon the bank. Once the bank receives notice+ Read More

If You Think That You Cannot Afford To File Bankruptcy, Think Again

Submitted by Anonymous (not verified) on Thu, 05/07/2015 - 18:54

Over the past few weeks I have received several emails from bankruptcy prospects who have indicated to me that they didn’t feel that they could afford to file for bankruptcy relief. Most of the people that feel this way are mistaken. Now they may have checked on the Internet are called a few law firms+ Read More

Why Keep Your Bankruptcy Lawyer A Secret?

Submitted by Anonymous (not verified) on Thu, 05/07/2015 - 18:52

Bankruptcy Lawyer Secret If you had good experience with a restaurant, hairdresser, pastor, CPA or other professional, you would be likely to talk about that person and refer friends and family to that person. In the case of a bankruptcy lawyer, most people keep that information to themselves out of a fear of being viewed+ Read More

Pages