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Bankruptcy

Tax refunds in Illinois bankruptcy cases

December 30, 2010Bankruptcy, tax refund, trustee1 CommentTerrance Leeders

As 2010 winds to a close, we hope you are enjoying your holiday season and we wish you the best for the New Year. Tax refund time will be approaching soon, so this post includes a few tips to help your bankruptcy case go smoothly in the new...

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Recent Bankruptcy Statistics…Bankruptcy is alive and well in the US

March 4, 2008Bankruptcy, bankruptcy filings, chapter 13, chapter 7, economyTerrance Leeders

Spurred by the down cycle in the mortgage business, a downturn in the economy (Recession? what recession? ) or else just credit providers providing more credit than should be given, we have seen a recent rise in bankruptcy filings both in...

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Reopening a chapter 7 case

February 8, 2008Bankruptcy, chapter 7, judge, reopen caseTerrance Leeders

I receive several inquiries about reopening a chapter 7 case once the case is closed.

This is possible to do, however it is subject to court approval.1. The debt must have been incurred before the date your case was originally filed....

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Bankruptcy Questions and answers

February 5, 2008Bankruptcy, bankruptcy court, chapter 13, chapter 7, trusteeTerrance Leeders

Here is an updated bankruptcy question and answer session. As you can see there are many bankruptcy issues that can sway a case one way or another. Hold tight, here we go.Chapter 7 and Lump sum SSDI payment...

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Blockbuster fees

December 20, 2007Bankruptcy, blockbuster, comparison shop, fees, price increaseTerrance Leeders

I received an interesting email from Blockbuster yesterday. They are increasing fees from $17.99 to $19.99. This comes on the heals of the plan modification they put thru just several months ago....eliminating the free in-store game rental...

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Substantial Abuse, Bankruptcy Planning & Chapter 7 bankruptcy

March 20, 2007Bankruptcy, bapcpa, case law, chapter 7, substantial abuseTerrance Leeders

What does one have to do, or in this case from Wisconsin, NOT DO, to create substantial abuse ?

RECENT CASES: Feb. 6. 2007

Chapter 7 Debtor who fails to aggressively seek out work before the case is subject to dismissal based on...

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Surrender Vehicle in Chapter 13 – Creditor allowed an unsecured deficiency balance

March 19, 2007Bankruptcy, chapter 13, chapter 13 plan, Judge Schmetterer, Judge Squires, surrendered vehicleTerrance Leeders

Northern District of Illinois - Eastern Division Chicago Bankruptcy Judge Squires recently ruled in the chapter 13 case of Linda J. Blanco, 06B 13223, where debtor tried to surrender a vehicle in full satisfaction of the claim owed. Judge...

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Giveaway of the Day

March 8, 2007Bankruptcy, freebie, giveawaysTerrance Leeders

Although this is a bankruptcy forum, my clients and visitors can all use a 'freebie' now and then. We'll, I have been using this site for a while now...and they offer some cool things! Check it out!
Terry

Giveaway of the Day

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Chapter 13

February 17, 2007adjustable rate mortgage, ARM, Bankruptcy, chapter 13, chapter 7, consolidation, credit cards, foreclosure, interest rate, medical bills, mortgage, mortgage default1 CommentTerrance Leeders
Chapter 13 Stop mortgage foreclosure
Keywords: chapter 13, bankruptcy, foreclosure, consolidation, chapter 7, mortgage, mortgage default, credit cards, medical bills, interest rate, ARM,...
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Foreclosure and bankruptcy

February 2, 2007Bankruptcy, chapter 13, foreclosureTerrance Leeders

My clients often call and ask me how long does a foreclosure take?How much time do I have in my house?Or how much time do I have to file Chapter 13 to stop the foreclosure?

Excellent questions. The generic answer is anywhere from 6-9...

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Leeders Law

3 weeks ago

Leeders Law
Can Bankruptcy Actually HELP Your Credit Score?It sounds backwards, but yes, it can happen.If your credit is already being damaged by missed payments, collections, charged-off accounts, and overwhelming debt, your credit score may already be suffering significantly.Bankruptcy doesn't magically create good credit. But once eligible debts are discharged, you may have an opportunity to stop the cycle of negative activity and start rebuilding.Think about it:❌ Constant late payments❌ Maxed-out credit cards❌ Collection accounts❌ Growing balances and interestcan make it extremely difficult to move forward.After bankruptcy, the focus can shift from managing yesterday's debt to building tomorrow's credit.With responsible credit use, keeping new accounts current, and giving your credit history time to recover, your score can improve.The surprising part? For some people, their credit score may actually begin recovering relatively soon after bankruptcy—because the financial situation that was dragging their score down has changed.But bankruptcy isn't right for everyone.If you're drowning in debt and wondering:“Would bankruptcy hurt my credit—or could it actually help me get back on track?”That's a question worth having a conversation about.Leeders Law can help you understand your options, what bankruptcy could mean for your credit, and what rebuilding afterward may look like.📞 Don't guess about your financial future. Start with a conversation.#leederslaw #Bankruptcy #CreditScore #debtrelief #creditrepair #illinoislawyer #FinancialFreshStart ...

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Leeders Law

4 weeks ago

Leeders Law
Huge decision just handed down by Judge Slade. Bankruptcy Caption: In re Rose ThomasBankruptcy No: 25-01000www.ilnb.uscourts.gov/sites/ilnb/files/opinions/OpinionThomasSanctioningCityofHarveyforDischargeV...City of Harvey shut of a chapter 7 bankruptcy debtor's water, despite a bankruptcy filing, and plenty of notice. They continued to bill her despite numerous notifications of the bankruptcy discharge. They willfully ignored the advice of counsel. Debtor was without water for 273 days. They even didn't turn it back on when the Court issued a Rule to Show cause. Awarded compensatory damages for out of pocket expenses and emotional stress $41,450, punitive damages of $41,450 plus attorneys fees and costs. If you are struggling to pay utilities, bankruptcy can be a solution. Reach out to me for a free consultation about your rights. ...

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Leeders Law

4 weeks ago

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