For every bankruptcy filing, our office sets up a filing appointment for our clients to come into the office and sit with us as we prepare the Bankruptcy Petition and Schedules, review the final product and sign off on the various dotted lines. For years this has forced an arguably undue burden on many of our clients. If you are married with kids and competing work schedules, it’s often not easy to get both of you into a lawyers office for two hours no matter how much you would like to.

Can’t everyone do a Chapter 7 or a Chapter 13?The simple answer is no. The eligibility for a Chapter 7 is based on several things:Median Income for Household Size – The median income determines what a Debtor or Debtors can file a bankruptcy. Median income is determined by household size. The following is the median family income data for Missouri and Illinois.   Household Size   Missouri       1 $41,092       2                     $51,784       3                    $59,549      4 $72,150  Illinois$47,485$59,861$68,721$80,776  Don’t panic yet.

Do I Need to Know All of My Creditors when I meet with an attorney about the bankruptcy for the first time?No. While policies may vary firm to firm, most offices will have you complete some sort of intake sheet upon arrival. This intake sheet will give the attorney some insight into your situation and potential issues in your case.

  Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for September 12, 2012 AMR bankruptcy plan wins court approval Lehman Recovery Seen as Justifying $2 Billion Bankruptcy Bankruptcy panel sought for Quebec train disaster victims  

 After a prison sentence 4 years ago Michael Vick appears to be making an effort to change for the better. Since being released from prison he’s been working on getting his finances back in order, and thanks to bankruptcy he will soon be out of debt while satisfying outstanding amounts with dozens of creditors to [...]

The automatic stay protects debtors from collection activities after a bankruptcy case has been filed. What about a case where there is insurance coverage available on behalf of the debtor?

If you’re filing a Chapter 13 bankruptcy, know the trustee to maximize your chances of success.

 Americans are used to handling debt.  Most people carry debt of some sort in their daily lives.  Even ones that are handling or managing the debt still feel the stress that comes with that debt.  Despite this fact, most people carry on and seem to get by.  That is, of course, until a creditor begins+ Read MoreThe post What Pushes People In Chicago To File Bankruptcy? ap

My Bankruptcy Law Network colleague