When you go to a 341 meeting, what you must have is your Social Security card, or other proof of Social Security number, and a state issued ID card or driver’s license. Those are the 2 things that are required on the notice sent out by the court. Some Chapter 7 trustees also request copies […]
What Paperwork/Documentation Should Someone Have At A 341 Meeting Read Post »
Documents VideoFiling a Chapter 13 is a voluntary decision. There are various reasons you might want to convert if it is not working, or you have a car that you are trying to save, which is a piece of junk now, or the housing situation is just not working out. You have a real estate tab,
Can Someone Convert A Chapter 13 To A Chapter 7 Bankruptcy? Read Post »
Chapter 13 Chapter 7 VideoThe answer is “Yes.” But the real question is whether a Chapter 7 is in my best interest? The main questions are: The above is very simplified but covers 90% or more of individuals looking to get out of debt. It is always wise to consult with a lawyer who has experience in Consumer Bankruptcy.
Can I File a Chapter 7 Bankruptcy? Read Post »
Bankruptcy Chapter 7 VideoThrough Chapter 13 2nd mortgages can often be eliminated and reduced to an unsecured claim. There are two sections of the Bankruptcy Code that in essence say a junior mortgage is a secured claim only if after deducting all senior liens there is still some equity left for the junior mortgage. If the property has no
How Can A Second Mortgage Be Eliminated? Read Post »
Homeowner Mortgage VideoIf you default on your car payments, the lender or dealer won’t wait long to repossess. You do not have to just let this happen! Filing for bankruptcy can stop repossession. Even if the “repo man” has already taken your vehicle, there may be a chance to get it back if you act fast. If
You probably had little choice when you took out a payday loan. You have bills to pay. Your family needs to eat. You probably knew that the interest rate was very high, but again you didn’t have a lot of options. Now the amount you owe has mushroomed, maybe double or triple of what you
All individuals have to take a means test before filing a bankruptcy, and if their income, depending on the number of individuals in the family, exceeds a certain amount, the presumption is they cannot file a chapter 7. However, there are multiple deductions that can be taken from the gross income to show that the
Who Must Take The Means Test Prior To Filing A Bankruptcy? Read Post »
Means VideoDo your debts include IRS back taxes? If you do nothing, the interest and penalties will continue to pile up. The IRS may even file liens against your assets or prosecute you for tax evasion. Contrary to what most people think, some federal income tax arrears can be discharged in a Chapter 7 or Chapter
You are doing the best you can, but there isn’t enough money to pay everyone you owe. So you’ve been letting certain bills slide or paying them late. Now the bill collectors are harassing you constantly, demanding money, threatening legal action or even saying that you will be arrested. The Chicago law firm of Robert
Creditor Harassment Read Post »
Harassment VideoRelying on “plastic” can become a problem when credit card balances grow too big or your income shrinks. Perhaps you lost your job or had your hours cut. Maybe you were propping up a small business. Maybe you had a medical crisis or other unexpected bills. Or perhaps you were simply living beyond your means.
How to Better Manage Credit Card Debt Read Post »
Credit Card Video