I anticipate an uptick in bankruptcy business because Chicago Public Schools and many suburban schools are not doing in-person learning. Working parents will have to stay home or hire full time daycare to...
Bankruptcy – C is for Chapter
C is for Chapter
Chapter 7
Chapter 7 bankruptcy is the most common bankruptcy that people file. This is the chapter that gets rid of most consumer debts in about 90 days. Most credit cards, medical bills, repossessions,...
Bankruptcy – A is for Assets
A is for Assets
SCHEDULES
A debtor fills out the bankruptcy paperwork and forms when filing a bankruptcy case. These forms are the Bankruptcy Schedules. Bankruptcy schedules list all of the assets a debtor owns. These...
Too much student loan debt disqualifies you for chapter 13? Not with Judge Baer in Chicago
Debt Ceiling and Student Loans
There is a debt ceiling in a chapter 13 bankruptcy. Too much debt and a debtor needs to look at chapter 7, or likely, chapter 11. Under Section 109(e) of the bankruptcy code, the limit for...
Bankruptcy Chapter 13 Law update
Projected Disposable Income is the Same as Disposable Income(Form B22C Controls)In re Farrar-Johnson, WL 2662709 (Bankr. N. D. Ill. 9/15/06.)Under Chapter 13 where a debtor is above the median income, section 1325(b)(3) makes clear that Schedule...