So far, in 2014 there have been 29,052 bankruptcy cases filed in the Northern District of Illinois
Compared to this time last year, when 31,754 cases were filed, down, almost 9%.
Adversary proceedings were down from 1064 to just 610...
Chapter 7 and Chapter 13 bankruptcy filing fee increases
I just received a memo from the United States Bankruptcy Court indicating that the filing fees for bankruptcy cases will be increasing effective June 1, 2014.<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;...
Z is for Zero! Our last installment in our Bankruptcy alphabet series
Zero. That is how much unsecured debt remains after a chapter 7 or chapter 13 bankruptcy discharge.
You should be back on track now, debt free. There are a few exceptions. Student loans or educational...
Y is for You Did It! You got a bankruptcy discharge!
Y was a tough letter to find to post about for bankruptcy.Not many bankruptcy terms begin with the letter Y, there isn't much caselaw that starts with the letter Y.No Judge has a name that starts with a Y in ChicagoSo, I figure I'll sell the...
V is for …. Valuation of assets in bankruptcy
With chapter 7 bankruptcy, putting a value on your assets is of utmost importance.Each state gives debtors limited exemptions to protect assets, so the proper value of your belongings is crucial. Now, in general, the trustee in your chapter 7...
U is for Unsecured Debt in bankruptcy
Unsecured debt is the debt most debtors in bankruptcy are looking to discharge. This includes credit cards, medical bills, utility bills. It also covers repossessions, broken leases and foreclosure deficiencies.Tax debt and child...
Deeds and Homeowner Association Fees – Bankruptcy Home Blog
Deeds and Homeowner Association Fees - Bankruptcy Home BlogInteresting fact pattern here. The spin I see is that the debtor files bankruptcy and 'surrenders' the home.Many mistakenly believe discharging the mortgage means the house is no longer...
T is for Terrance Leeders – head bankrutpcy attorney and owner of Leeders & Associates
Hi All. I was recently interviewed for an article by BankruptcyHome.com. I have enclosed a link to their article. If anyone as has any further questions, feel free to contact me at Leederslaw.com, or call me at...
S is for Setoff of bank accounts and bankruptcy
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R is for repossession
R is for RepossessionI would estimate that over half, if not 75% of my clients have had a repossession in the past, many with 2 or even 3 of them. Chapter 7 is a great tool to wipe those debts out and get a fresh start. But, if it...