Articles from David M. Siegel

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Will Chapter 7 Bankruptcy Help With Parking Tickets?

Submitted by Anonymous (not verified) on Wed, 11/16/2016 - 01:24

No Income Option I recently received an interesting call from young lady who was seeking bankruptcy protection to help with outstanding parking tickets. She had no income whatsoever, so she was not a candidate for chapter 13 bankruptcy which is the repayment plan over a 3 to 5 year period. However, she was interested in+ Read More

This Is The Bankruptcy Case Study For Miss L., Living In Chicago

Submitted by Anonymous (not verified) on Fri, 11/11/2016 - 19:33

Overview In this bankruptcy case study, we are going to analyze the financial situation for Ms. L., who resides in Chicago. She resides on Woodland Park Avenue of the East side of the city. She filed a chapter 13 bankruptcy back in 2006. Thus, she is eligible for either a chapter 7 bankruptcy case or+ Read More

Co-Signed Auto Debt In A Chapter 13 Can Get Very Tricky

Submitted by Anonymous (not verified) on Wed, 11/09/2016 - 20:37

I just spoke to a young lady this morning who cosigned on a vehicle. The other person on the hook for the vehicle debt has just filed for chapter 13 bankruptcy. The vehicle is not going to be reorganized through the chapter 13. Thus, the auto finance company has the right to modify the automatic+ Read More

3 Tips For A Successful Bankruptcy Experience

Submitted by Anonymous (not verified) on Fri, 10/28/2016 - 17:27

Be honest Be honest with yourself, your attorney, the trustee, the court and anyone else involved in your bankruptcy case. The first question to ask is do you really need the help? Are you someone who has a small amount of debt that is manageable over the course of six months to a year or+ Read More
The post 3 Tips For A Successful Bankruptcy Experience appeared first on David M. Siegel.

Converting A Bankruptcy Case From Chapter 13 To Chapter 7

Submitted by Anonymous (not verified) on Mon, 10/17/2016 - 20:35

Code Provision There are times when you may need to convert a chapter 13 bankruptcy case to a chapter 7 bankruptcy case. Section 1307 of title 11 USC provides for conversion or dismissal. In essence, under section (a), a debtor may convert a case under Chapter 13 to a case under Chapter 7 at any+ Read More

New Court Approved Retention Agreement For Chapter 13 Cases Arrives Suddenly

Submitted by Anonymous (not verified) on Mon, 09/19/2016 - 22:23

The New Agreement Getting paid as a chapter 13 debtor’s attorney has always proven somewhat difficult. Not the least of which is that the debtor typically must make chapter 13 plan payments from which counsel can be paid. Add on top of that the fee application, the fee order and the presentment been before the+ Read More

Case Study For Mrs. C. From Wheeling, Illinois

Submitted by Anonymous (not verified) on Fri, 09/09/2016 - 20:54

  Nature Of The Debtor This is the chapter 7 bankruptcy case study for Mrs. C., who resides in Wheeling, Illinois. She has come to the office with the simple thought in mind to eliminate her outstanding credit card debt and medical debt. She has been struggling for approximately three years. Although she has been+ Read More

Paying Back As Little As Possible Under Chapter 13

Submitted by Anonymous (not verified) on Wed, 09/07/2016 - 20:44

When someone is looking to file chapter 13 bankruptcy, they obviously want to pay back as little as possible. They also want to gain the greatest amount of relief during the process. There are a number of factors that go into determining whether or not the monthly payment is going to be high, low, or+ Read More

When Assets Are Potentially At Risk, Stick With Chapter 13

Submitted by Anonymous (not verified) on Tue, 08/23/2016 - 21:22

I came across a woman recently who was considering chapter 7 bankruptcy. She had a home that was underwater by more than $175,000. She had absolutely no intention of keeping the home. Her goal was to stay in the home for as long as possible, surrender it to the lender after a sheriff sale, and+ Read More

Taxes Owed To The IRS Could Be Discharged In A Chapter 7 Bankruptcy

Submitted by Anonymous (not verified) on Sat, 08/20/2016 - 00:01

Nobody wants to file for bankruptcy.  However, circumstances can spiral out of control and you can find yourself without any choice.  You were laid off from work or had unexpected medical bills. You had to make a choice between paying the monthly credit card bills or putting food on the table.  The choice is easy. + Read More

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