Articles from David M. Siegel

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What Are The Requirements For Filing A Chapter 7 Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 04/03/2014 - 23:45

Jesse Barrientes: What are the requirements for filing a Chapter 7, the pre-filing requirements? David Siegel: Yeah, before a case can be filed, the individual has to go through certain requirements and the first of which is they must take a credit counseling session. Jesse Barrientes: What does that consist of?

What Happens When Only One Co-Debtor Files For Bankruptcy?

Submitted by Anonymous (not verified) on Wed, 04/02/2014 - 17:12

The Typical Co-Debtor Protection In most circumstances, when only one co-debtor files for bankruptcy protection, the non-filing co-debtor usually can maintain the property provided that the co-debtor continues to make timely payments. An interesting situation arose in a recent case. The particular property is a boat.

Chapter 13 Bankruptcy Requires The Debtor To Be Honest

Submitted by Anonymous (not verified) on Wed, 04/02/2014 - 17:08

My Recent Client I recently had the opportunity to speak with a chapter 13 debtor. This debtor had done a prior chapter 13, where the plan payment was $350 per month. The debtor was unable to make his monthly payment to the trustee and his case was soon dismissed.

There Are Different Types Of Bankruptcy

Submitted by Anonymous (not verified) on Fri, 03/28/2014 - 17:42

It’s easy to be confused when talking about the different types of bankruptcy. Most people are aware that bankruptcy is a way to eliminate debt. What they are not sure of, is whether it’s really in their best interest to file at all. There are some cases where it’s a tough decision.

Bankruptcy & The Right Time To File

Submitted by Anonymous (not verified) on Wed, 03/26/2014 - 23:03

Chapter 7: Time To File? David Siegel: When would somebody want to file a Chapter 7 bankruptcy as opposed to not filing at all? What is the reason why someone would file a Chapter 7? Jesse Barrientes: I guess there are a lot of different reasons.

Protecting Your Assets In A Chapter 7 Bankruptcy Filing

Submitted by Anonymous (not verified) on Wed, 03/19/2014 - 23:20

Protecting Your Assets In A Chapter 7 Bankruptcy Filing There are two main goals in filing a chapter 7 bankruptcy. The first goal is to eliminate as much debt as possible in order to get a fresh start.

What Is Chapter 7 Bankruptcy In A Nut Shell?

Submitted by Anonymous (not verified) on Tue, 03/18/2014 - 21:24

Chapter 7 bankruptcy can be confusing for many people.  There are different scenarios where Chapter 7 comes into play to change lives.  In the latest Legal Action show, we discuss the basics of Chapter 7 and how it can be used.  A partial transcription of the show is listed below.

What Is Chapter 7 Bankruptcy In A Nut Shell?

Submitted by Anonymous (not verified) on Tue, 03/18/2014 - 21:24

David Siegel: Hello, welcome.  My name is David Siegel.  Thanks for joining me.  Today were going to be talking about Chapter 7 bankruptcy.  Once again, my co-host as always is Jesse Barrientes.  Jesse, welcome to the show. Jesse Barrientes: Thank you, Dave. David Siegel: How are you doing today? Jesse Barrientes: Excellent, how about yourself?

What Is The Automatic Stay In Bankruptcy?

Submitted by Anonymous (not verified) on Thu, 03/13/2014 - 17:45

The automatic stay in bankruptcy is the notice that puts creditors on notice that they cannot take certain actions against you in terms of collecting the debt.  The automatic stay is created immediately upon filing of the bankruptcy case whether or not official notice has been received by that creditor or not.  The automatic stay+ Read MoreThe post What Is The Automatic Stay In Bankruptcy? appeared first on

Can I protect My Property And Still File Bankruptcy?

Submitted by Anonymous (not verified) on Mon, 03/03/2014 - 17:16

You Can Protect Most Property You can file bankruptcy and protect a certain amount of personal property. If you are filing a chapter 7 bankruptcy, then you have certain exemption amounts under Illinois law that allows you to protect a certain amount of property.

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