Articles from David M. Siegel

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Bankruptcy Filing & Your Utility Services Such As ComEd

Submitted by Anonymous (not verified) on Tue, 04/22/2014 - 19:39

Chicago clients are concerned about utility bills and how a bankruptcy filing affects their services. They are happy to know that they can get service to continue to or have it turned back on if it was disconnected.

Chapter 13 May Pay Back At 100%

Submitted by Anonymous (not verified) on Tue, 04/22/2014 - 00:11

Depending on the budget, you might have to pay back 100% to your unsecured creditors in a chapter 13 bankruptcy case. The trustee appointed for your case is going to interview you at a 341 meeting of creditors.

What Debts Are Eliminated With Chapter 7 Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 04/17/2014 - 18:25

The typical debts that are eliminated with Chapter 7 bankruptcy include credit cards, medical bills, personal loans and more.  The transcription and video below explain what is eliminated in greater detail. Jesse Barrientes:   What debts are typically eliminated with the Chapter 7?

Filing Bankruptcy And The Creation Of The Automatic Stay

Submitted by Anonymous (not verified) on Mon, 04/14/2014 - 23:36

The automatic stay in the most powerful tool when filing bankruptcy. The automatic stay provides a shield of protection against most collection efforts. In the video below, we discuss just how powerful the stay is when filing a bankruptcy case.

Your Monthly Income Is A Factor In Qualifying For A Chapter 7 Bankruptcy

Submitted by Anonymous (not verified) on Sat, 04/12/2014 - 01:07

There are income qualifications for filing Chapter 7 bankruptcy.  If you are over the median for your state then you are subject to a means test.  If it is determined that you have the ability to pay back at least 25% over the next three to five years, then you will not qualify for Chapter+ Read MoreThe post Your Monthly Income Is A Factor In Qualifying For A Chapter 7 Bankruptcy appeared first on David M.

There Are Three Main Reasons Why Somebody Would Want To File Chapter 7 Bankruptcy

Submitted by Anonymous (not verified) on Fri, 04/11/2014 - 02:21

File Chapter 7 Bankruptcy To Protect Property The first reason why somebody would want to file Chapter 7 bankruptcy is if they have something they want to protect. What I’m talking about here is something of value that is subject to a taking if a bankruptcy case is not file. This could be wages.

Tax Return & The Importance Of Timely Filing – Bankruptcy

Submitted by Anonymous (not verified) on Wed, 04/09/2014 - 22:16

In order to file for Chapter 7 bankruptcy, you must provide a copy of your most recent Federal tax return.  If you are going to be receiving a sizable refund, then you want to time your bankruptcy filing so that you do not have the refund forthcoming after your filing date.  This way, you are+ Read MoreThe post Tax Return & The Importance Of Timely Filing – Bankruptcy appeared first on

Chicago Bankruptcy Lawyer David Siegel Explains Reaffirming A Debt In A Chapter 7 Bankruptcy Case

Submitted by Anonymous (not verified) on Wed, 04/09/2014 - 02:52

Chicago Bankruptcy Lawyer Explains According to Chicago bankruptcy lawyer David Siegel, some property should be reaffirmed.  With secured property such as a vehicle, furniture, jewelry, electronics, those are secured items.

What Happens To City Violations After Filing For a Chicago Bankruptcy?

Submitted by Anonymous (not verified) on Tue, 04/08/2014 - 02:42

Chicago Bankruptcy  City violations in Chicago, incurred after filing for a Chicago bankruptcy are not eliminated. One such example is where someone who surrenders a home in foreclosure yet owes city violations and then files chapter 7, the debt to the city is not wiped out.

Filing Bankruptcy And Protecting Your Home

Submitted by Anonymous (not verified) on Mon, 04/07/2014 - 22:25

Homeowners very often wind up filing for bankruptcy. Before filing, homeowners wonder whether or not they will be able to keep their house through the bankruptcy process. For most homeowners, there is not sufficient equity in the property which would cause them to lose the property.

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