Articles from David M. Siegel

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What Happens To Personally Guaranteed Debt In A Business Bankruptcy?

Submitted by Anonymous (not verified) on Tue, 05/13/2014 - 22:57

When a business files for bankruptcy and closes its doors, it is filing a chapter 7 bankruptcy. This means that the company or corporation will no longer operate under that name and will no longer transact any business whatsoever under that name.

What Happens Immediately After A Bankruptcy Case Is Filed?

Submitted by Anonymous (not verified) on Mon, 05/12/2014 - 23:13

Everyone typically wants to know how long a bankruptcy case is going to take from start to finish. There is so much uncertainty about the process and about what a client must do to make it work. The transcript from the Video below outlines some of the keys points regarding timing.

When Debt Has Got You Down…..Consider This!

Submitted by Anonymous (not verified) on Sat, 05/10/2014 - 00:57

If you are struggling financially, please know that help is available. You do not have to go through another spring and another summer with financial problems. Have you looked into filing bankruptcy? Have you looked into reorganizing under chapter 13? Have you explored all of your options to get out of this debt?

What Happens To Unsecured Creditors If They Don’t File A Claim?

Submitted by Anonymous (not verified) on Fri, 05/09/2014 - 23:37

One of the many benefits of filing a chapter 13 bankruptcy case is the ability to repay creditors less than what’s owed in many cases. Some cases don’t require a full payment to unsecured creditors.

Credit Card Spending Can Lead To Bankruptcy Filing

Submitted by Anonymous (not verified) on Fri, 05/09/2014 - 22:07

In Chicago and around the country, people are over spending on their credit cards. Maybe it’s the have it now, pay for it later mentality. Maybe it’s the convenience of not having to carry cash. Maybe it’s the enticements of rewards by using the card.

If I Fall Behind On My Chapter 13 Trustee Payments, Will My Case Be Dismissed?

Submitted by Anonymous (not verified) on Thu, 05/08/2014 - 22:58

A successful chapter 13 requires you to make timely, monthly payments to a chapter 13 trustee over the life of your plan. The plan could last anywhere from 36 to 60 months typically. Your plan may run less than that provided you pay off the debt in full.

Gambling Debts And Bankruptcy

Submitted by Anonymous (not verified) on Thu, 05/08/2014 - 19:49

If you’re struggling from debts that arose from gambling, chapter 7 very well may be your answer. There has been an increase over the last 25 years in the state of Illinois with gambling institutions.

Is There Any Bankruptcy Help For Student Loans?

Submitted by Anonymous (not verified) on Thu, 05/08/2014 - 00:10

Student loans are generally an unsecured debt that is non-dischargeable in a bankruptcy case. This means that under chapter 7 fresh start bankruptcy, a student loan must be listed however it is not eliminated.

What Debts Are Typically Non-Dischargeable?

Submitted by Anonymous (not verified) on Tue, 05/06/2014 - 17:54

When you file Chapter 7 bankruptcy, not all of your debts may be eliminated.  For example, student loans, recent taxes, parking tickets, child support and debts incurred through fraud are not eliminated.  The video below talks about how some people will run up the balance on a credit card in anticipation of filing Chapter 7+ Read MoreThe post What Debts Are Typically Non-Dischargeable? appeared first

Chicago Bankruptcy Timeframe: From Start To Finish

Submitted by Anonymous (not verified) on Fri, 05/02/2014 - 14:47

A Chicago Bankruptcy Timeframe for a case can last anywhere from 3 to 4 months from filing until discharge. This assumes that there is no objection to your discharge or no adversarial complaint in your case. Let’s start at the beginning.

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