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...
Chicago Bankruptcy – O is for One on One Personal Service
At Leeders & Associates, we treat each client with respect, and customize each case to each individuals needs. We are not a large bankruptcy mill, with hundreds of staff helping you....we offer a more personalized experience. We...
N is for a no asset report in bankruptcy
This is the holy grail in bankruptcy, what every chapter seven debtor wants.
A no asset report by the standing bankruptcy trustee means there are no assets to administer in the bankruptcy case for the benefit of creditors. It's...
L is for Leeders
Ah, a bit of self promoting here!. My name is Terry Leeders, a consumer bankruptcy attorney who practices law in Chicago and the surrounding suburbs.
I've been in practice since 1998, and...
G is for Garnishment
Many people file bankruptcy because a creditor has a garnishment.A garnishment is a court order to deduct a portion of a debtor's wages to pay a creditor who sued the debtor and obtained a judgment.
Garnishments are stopped though the...
Keeping a corporate credit card after bankruptcy?
Subject: | Chapter 7 & Corporate Credit Card |
Question: | My husband and... |
Recent Bankruptcy Statistics…Bankruptcy is alive and well in the US
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...
Reopening a chapter 7 case
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....
New updated median income figures for bankruptcy filers
Median income level for Illinois based on family sizeEffective: 2/1/08
Bankruptcy Audit’s suspended
This is a bit of interesting news about the random audits performed by the Department of Justice. Previously 1 in 200 cases was audited for accuracy. These audits consisted of independent review of paystubs, tax...