News Topic: ChicagoBankruptcyLawyersAttorneys

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On December 10, 2010, President Obama signed into law the Bankruptcy Technical Corrections Act of 2010. This seven page document of technical changes was necessary to correct several sections of wording, numbering, lettering and indentation. However, the ... Read full article

Starting on February 21, 2011, if you listen to Scott Mackay in the morning on the River, 95.9 FM, you will hear him talk about David Siegel. Each weekday, Scott will talk about the bankruptcy help that David Siegel provides from his Aurora, IL office. In ... Read full article

You will not lose your home if you file a bankruptcy case. It is Federal law that allows you to file bankruptcy to handle your financial matters. I sometimes hear about a person whose employer has threatened to terminate someone for filing bankruptcy. The ... Read full article

Most of my clients are very concerned about credit. They have gotten into debt as a result of credit and they can’t bear the thought of living without credit. Thus, one of the first questions that I get asked is, “can I keep one or two of my credit cards, ... Read full article

Once the bankruptcy case is filed, an automatic stay is created. This automatic stay prohibits creditors from contacting debtors directly and prevents further collection efforts. In many instances, the creditors will not receive notice of the bankruptcy ... Read full article

The general answer is that bankruptcy filing, in and of itself, does not remove a valid lien. However, there are actions that can be taken before the court to remove a valid lien in some circumstances. For example, let’s say that a judgment creditor has ... Read full article

“If I file for bankruptcy, will I get to keep my house and car?” This is an excellent question. One of the main jobs a bankruptcy attorney does is to analyze whether or not the property an individual has can be protected while still filing for bankruptcy. ... Read full article

Some things are inevitable. If an error can be made, it will be. Take for example, when filing for bankruptcy, the requirement of both credit counseling and debtor education. There is a particular sequence or order in which those requirements must be ... Read full article

If you are considering filing for bankruptcy, either Chapter 7 or Chapter 13, beware of lawyers that charge a fee for the initial consultation. You have to ask yourself several questions before doing so: 1) Why should I pay before I know if I can even be ... Read full article

A bankruptcy case from filing until discharge, otherwise, from start to finish is approximately, 90 to 120 days. It is a relatively simple process from the consumer’s standpoint. The consumer provides information to his attorney who prepares the ... Read full article

In a significant decision affecting bankruptcy cases throughout the United States, the Supreme Court of the United States has determined that a debtor, who does not make a loan or lease payment, may not take the car ownership deduction. This case has ... Read full article

In the case of Valory Denise Ray, the Unites States Trustee moved for disgorgement of fees earned by debtor’s attorney. The fees in question were those earned during a 722 redemption process whereby the redemption company paid a portion of the loan amount ... Read full article

For all Aurora, Illinois residents considering filing either Chapter 7 or Chapter 13 bankruptcy, the law offices of David M. Siegel has extended the office time available in Kane County. Specifically, the Aurora office, located at 1700 N. Farnsworth ... Read full article

The general answer is yes, provided a number of factors exist. First, the person must be current on his monthly payments. If not, the auto finance company will likely choose to repossess the auto rather than offer a reaffirmation agreement. Second, the ... Read full article

Often I’m asked whether or not someone can file a bankruptcy on their own? The answer is yes, but I will never recommend it. When the law changed on October 17, 2005, bankruptcy became much more complicated than it already was. Before, an individual could ... Read full article