Articles from David M. Siegel

How Waiting To File Bankruptcy Can Hurt You

Waiting To File Bankruptcy There are so many people that I talk to over the course of a month who contemplate whether to file bankruptcy yet take no action. Many of these people feel that the problem will simply go away. Some people feel that their financial situation is going to somehow change on its+ Read More

Chapter 13: 16

Jesse Barrientes: Well, Dave, what happens – you’d mentioned before about payroll control where the money is coming out. If I didn’t do payroll control, would my employer find out? Obviously if I’m doing payroll control, they’re going to know. But if I didn’t want to do that? David Siegel: Well, your employer only needs+ Read More

Chapter 13: 15

David Siegel:               What is it, other than paying the stuff back, what is it going to cost me in terms of attorney’s fees, court filing fees and I’m just guessing that the trustee is going to have to be paid.   Jesse Barrientes:         right.  The way it works right now and this is forever changing,+ Read More
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Chpater 13: 14

Jesse Barrientes:         Let’s take the situation that we were talking about before about getting credit.  So if we are getting credit for an automobile, let’s say that it becomes difficult for me because of the reasons you said.  Can I dismiss my 13 and refile it?   David Siegel:               You can.   Jesse Barrientes:         And+ Read More

Chapter 13: 13

Jesse Barrientes:         Well, Dave, what happens if we are in this plan here for a couple years and let’s just say that I have inherited some money.  And you know what?  I never wanted to do a bankruptcy in the first place.  I just didn’t have much of a choice.  But now I find myself+ Read More
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Chapter 13: 12

Jesse Barrientes:         What happens if – because it’s going to be lean living during this time.  What happens if I need to get credit?  If I’m going to be able – if I’m locked into this plan for three years or five years, and I need – I probably shouldn’t, not the greatest idea but+ Read More
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Chapter 13: 11

David Siegel: Does someone get to keep all of their property when they are in a Chapter 13 or do they have to give up some property in exchange for this reorganization? Jesse Barrientes: Typically they get to keep all of their property. I suppose there have been some instances and I think I was+ Read More
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Chapter 13: 10

David Siegel: Let me ask you this, Jesse. Do creditors object to your plan for your organization or do they just accept it? Jesse Barrientes: It depends on the creditor. Sometimes they object. Essentially, and we talked about this which is similar in a Chapter 7. It’s a 341 Meeting. It’s essentially the same, Meeting+ Read More

Chapter 13: 9

Your office, Dave, you also do the first plan payment as well. Do you not? David Siegel: What I like to do in many cases is get first plan payment that’s going to go to the trustee upfront. The reason for this is its good faith, it shows the trustee when you go to meet+ Read More
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Chapter 13: 8

Jesse Barrientes: So how do I pay the trustee? Do I send them a check? A money order? How does that work? David Siegel: Well, if you are gainfully employed and you are working for an employer, then I’m going to mandate payroll control and that’s where the money comes directly out of your payroll+ Read More
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