News Topic: ChicagoBankruptcyLawyersAttorneys

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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

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

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

When stripping a junior mortgage, make sure that you have an expert witness available to testify. In a recent case before Judge Cox, a junior lien was stripped, despite the fact that the evidence showed that most comparable properties values would have ... Read full article

A Rule 2004 Examination is an examination of the debtor, separate and distinct from the 341 meeting of creditors’ examination. It all begins with a Motion from a party in interest and the Court’s granting of the examination. A subpoena is served ... Read full article

Chapter 13 bankruptcy can often provide the greatest chance to save a home that is in foreclosure. In addition to the proposed plan to repay mortgage arrears and other creditors, there is often a secondary payment plan once the case is confirmed. The ... Read full article

There has been a recent question as to when the fact of foreclosure hits a credit report. The question arose in the context of doing a short sale, after a bankruptcy, to avoid the blemish of a foreclosure as well as a bankruptcy. After research, ... Read full article

“If a couple is married, can only one individual file for bankruptcy?” The answer, simply, is yes. Married couples do not have to file for bankruptcy together – One person may file individually, or both individuals may file together. When filing ... Read full article