The requirements for filing a Chapter 13 bankruptcy case are as follows: 1) You must submit to credit counseling session. This is a one hour session with a credit counselor that can be done over the telephone, in person, or over the internet. The credit counselor will ask you about your income, your expenses, [...]

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 documents, acquires the required signatures, and advises the client on what steps need to [...]

Chapter 13 is reorganization through a Chapter 13 trustee, provided for under Chapter 13 of the United State Bankruptcy Code. It allows for the repayment for all or a portion of one’s debt, over a 3-5 year period. So from anywhere typically between 36 to 60 months that individual will be making a [...]

The answer is yes, you are going to have to attend a court date. It is actually called a 341 meeting of creditors. It is a meeting required under section 341 of the bankruptcy code. It is where you appear with your attorney, you’re sworn in, and a trustee appointed by the [...]

When you file bankruptcy, you will have to list all the people that you owe money to. This includes family members; this includes creditors that you wanted to keep, even your American express card. I often get asked can people list utility bills on their bankruptcy, and the answer is “yes”. [...]

If I file for bankruptcy will my job, will my employer, will my co-workers know? The answer is “no”, typically. The employers will not find out about a bankruptcy unless I need to notify them, and that will be in the case of a garnishment that I need to stop. So in [...]

I have clients that see me whose drivers license’s have been suspended for several different reasons. One, is that they haven’t paid their parking tickets or they have moving violations or in some cases, they were caught driving without insurance and they were involved in a motor vehicle accident. In many of [...]

If someone owes back child support, filing a Chapter 7 bankruptcy case will never eliminate child support debt? Not only is it not dischargeable, but public policy tells us, that people should take care of their children. Child support is one of those debts that the government has deemed non-dischargeable. So, although you [...]

What follows is a typical question that I hear practically daily. If I file for bankruptcy, can I keep my 401k, pension, profit sharing or other retirement accounts? The answer is yes, provided those items are left in their proper nature as retirement accounts. For example, if it’s in a 401k account, if the pension [...]

This is on the mind with every single individual that I work with. Credit is typically what got them into the situation, however, they can’t wait to get back into it. They are eager to get back into a credit situation. My answer to them is this: Yes, you will get offers [...]

Dave Siegel’s Bankruptcy Boulevard radio show, AM1690 WVON, will be airing live today, from 4-5pm at the Moo and Oink located at 4848 W. Madison Avenue, in Chicago. Guests will include Pam Morris, Amena Shari, Loren Comitor and of course, listener questions. The entire event will be filmed for later airing on WJYS, [...]

An interesting scenario has come up with regard to auto reaffirmation agreements. The typical situation involves the creditor submitting a reaffirmation agreement well prior to the case being discharged. In fact, the majority of reaffirmation agreements are tendered and completed at or before the 341 meeting of creditors. However, here is the [...]