Articles from David M. Siegel

Primary tabs

What’s the difference between a Chapter 7 and a Chapter 13 bankruptcy?

Submitted by Anonymous (not verified) on Fri, 04/26/2013 - 16:42

Chapter 7 is a liquidation fresh start type of bankruptcy whereby a person who has very little in the way of assets and a lot of unsecured debt can file a Chapter 7 and get a fresh start.  Under Chapter 7, debtors typically keep all of their properties such as houses, cars, personal belongings provided+ Read MoreThe post What’s the dif

What is a 341 Meeting?

Submitted by Anonymous (not verified) on Sat, 04/20/2013 - 21:08

A 341 Meeting is a meeting of creditors we acquired and mandated by the Bankruptcy Code whereby a debtor will be examined under oath by a Chapter 7 trustee regarding assets and liabilities.  The Chapter 7 trustee has the duty to examine the debtor and determine whether or not there are any assets that can+ Read MoreThe post What is a 341 Meeting? appeared first on David M.

How long does the bankruptcy process take?

Submitted by Anonymous (not verified) on Sat, 04/13/2013 - 14:44

Chapter 7 bankruptcy can last anywhere from 100 to 120 days from start to finish.  It basically works like this: once the Chapter 7 bankruptcy case is filed, there is a notice that goes out to all creditors, the debtor and the debtor’s attorney advising of an upcoming meeting called a 341 Meeting of Creditors. + Read MoreThe post How long does the bankruptcy process take? appeared fir

Can I keep my house or car if I am current on my payments in a Chapter 7?

Submitted by Anonymous (not verified) on Mon, 04/01/2013 - 04:58

You definitely have the ability to keep your house and car in a Chapter 7 if you are current on your payments, provided you do not have significant nonexempt equity in those properties.  Most people who come to see me for a Chapter 7 and who may be homeowners do not have significant equity.  It+ Read MoreThe post Can I keep my

As an attorney, will I file a case before being paid in full?

Submitted by Anonymous (not verified) on Mon, 04/01/2013 - 04:57

There are some cases under Chapter 7 where I will file a case prior to being paid in full.  Those cases involve wage garnishments, bank citations or other court appearances required that would be a burden to the debtor and would actually hinder the debtor’s ability to pay the law firm in the long run. + Read MoreThe post As an attorney, will I file a ca

How much is it to file a Chapter 7 or a Chapter 13 bankruptcy?

Submitted by Anonymous (not verified) on Thu, 03/28/2013 - 01:59

At the time of this writing, the filing fees for Chapter 7 bankruptcy are $306.  The filing fees for Chapter 13 bankruptcy are $281.  Each law firm differs on how much they require down as well as how much they require in terms of a total fee to file a type of bankruptcy.  In my+ Read MoreThe post How much is it to file a Chapter 7 or a Chapter 13 b

How many payments do I have left in my Chapter 13 bankruptcy case?

Submitted by Anonymous (not verified) on Thu, 03/28/2013 - 01:58

Once a Chapter 13 bankruptcy case is filed and a plan is proposed, it’s going to run for a certain number of months, typically between 36 and 60 month.  Now, there are some cases that end much earlier than 36 months and there are no cases that can exceed the 60 months.  So somewhere between+ Read MoreThe post How many payments do I have left

Why should I file for bankruptcy if I’m using a debt consolidation service right now?

Submitted by Anonymous (not verified) on Tue, 02/26/2013 - 20:56

Differences Between Bankruptcy And Debt Consolidation There are huge differences between bankruptcy and debt consolidation services.  If you’re filing a chapter 7, you are going to get a fresh start.  If you are using a debt consolidation service, you are going to wind up paying back to creditors.  It’s quite possible that you really don’t+ Read MoreThe post

When can I buy a house after filing for bankruptcy?

Submitted by Anonymous (not verified) on Mon, 02/25/2013 - 04:16

How Soon Can I Buy?

Can I make payments to file a bankruptcy?

Submitted by Anonymous (not verified) on Fri, 02/22/2013 - 15:25

Payment Plans Are Available You most certainly can get on a payment plan to file a bankruptcy.  In fact, most people do not have the ability to pay the lump sum which is the court costs and the attorneys’ fees, all at one sitting.  What I like to do is offer a client a reasonable+ Read MoreThe post Can I make payments to file a bankruptcy? appeared first on

Pages