Articles from David M. Siegel

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Chicago Bankruptcy Judges Amend Local Forms Again

Submitted by Anonymous (not verified) on Fri, 05/01/2015 - 17:46

New Court Approved Agreement Beginning April 20, 2015, chapter 13 bankruptcy attorneys working on a flat fee arrangement are required to use the updated court approved retention agreement. This agreement spells out exactly what the attorney’s duties are, what the debtor’s duties are, as well as numerous explanations regarding what can happen in a chapter+ Read More

Negotiating With The Bankruptcy Trustee: Be Reasonable

Submitted by Anonymous (not verified) on Wed, 04/22/2015 - 20:38

Assets Discovered Every once in a while if you file enough chapter 7 bankruptcy cases, you are going to come across a case where there is an asset available for administration. It may be a higher than expected tax refund in which the trustee can make a claim. It may be an inheritance which was+ Read More

Although It’s Federal Law, Filing Bankruptcy Is Truly Local

Submitted by Anonymous (not verified) on Wed, 04/22/2015 - 00:19

Federal Law It is true that the federal bankruptcy laws apply to every American in each state. However, there is a local flavor to filing bankruptcy depending upon which state you live in and in which County that you live in. For this reason, when considering bankruptcy, you want to find a bankruptcy law firm+ Read More

With Tax Day Upon Us, Is Your Financial House In Order?

Submitted by Anonymous (not verified) on Wed, 04/15/2015 - 18:17

April 15 is not only tax day, but it’s a great day to look at your financial situation to see if you need to make any adjustments. This is the time when you can analyze how you did financially in the past year. This is the time when you’re required to have your income tax+ Read More

Emergency Chapter 13 Filing: From Consultation To Filing In Two Hours

Submitted by Anonymous (not verified) on Tue, 04/14/2015 - 18:54

It seems with ever increasing regularity, there is a chapter 13 emergency filing that my office has to complete. It used to be that a Sheriff sale was the main reason for an emergency filing. As long as the case was filed before the actual Sheriff sale took place, the homeowner had the right to+ Read More

Car Repossessed Last Night? I Can Get It Back With Chapter 13.

Submitted by Anonymous (not verified) on Thu, 04/09/2015 - 19:57

Imagine the surprise of getting up in the morning and finding that your car has been repossessed. Even worse, you may have been in the process of getting a chapter 13 bankruptcy case filed or you might have been thinking about filing a chapter 13 bankruptcy case to repay the debt on the car that+ Read More

Why Wait To Get Your Car Back In Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 04/02/2015 - 18:13

So many people have fallen behind with outstanding parking tickets. It doesn’t take very many parking tickets in the city of Chicago to find yourself on the boot list. You might even have dozens of tickets and know that you’re on the boot list, however, you do not take affirmative action to help yourself. What+ Read More

Remembering Back When Student Loans Were Dischargeable

Submitted by Anonymous (not verified) on Wed, 04/01/2015 - 20:11

I have been practicing bankruptcy law since 1991. I have seen a drastic difference in the way that student loans are handled in bankruptcy cases. Prior to 1998, a student loan was potentially dischargeable if it had been in repayment status for more than seven years. This basically meant that an old student loan debt+ Read More

Can I File Chapter 7 Bankruptcy Again?

Submitted by Anonymous (not verified) on Tue, 03/31/2015 - 00:28

In general, you can file a chapter 7 bankruptcy case once every eight years. For example, if you filed on January 1, 2008, then you would not be eligible to file another chapter 7 bankruptcy case until January 2, 2016. If you filed the case in between those two dates, the chapter 7 trustee or+ Read More

Respect The Automatic Stay In Bankruptcy Or Else

Submitted by Anonymous (not verified) on Thu, 03/26/2015 - 18:23

The Automatic Stay When a person files a chapter 7 or chapter 13 bankruptcy case, there is the immediate creation of the automatic stay. The automatic stay is the protection provided to the debtor which prohibits creditors from taking specific collection actions or other efforts to collect on a debt. Sometimes the notice of the+ Read More

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