Filing for Chapter 7 or Chapter 13 bankruptcy gives you immediate protection. By law, creditors cannot initiate new actions, continue to garnish your wages or even contact you to demand payment. Robert J. Adams & Associates is aggressive in invoking and enforcing the automatic stay of bankruptcy. Our Chicago bankruptcy lawyers can file your bankruptcy petition right […]
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Creditors
In a Chapter 7, the trustee has a meeting. They go through the bankruptcy. In most cases, it is perfunctory and well prepared. Although creditors can appear, I cannot remember the last time a creditor appeared at a meeting. The trustee is looking to see if you are hiding assets, but this very seldom happens.
What Is The 341 Meeting Of Creditors In Chapter 7 Bankruptcy? Read Post »
341 Chapter 7 Creditors VideoAn individual business can reorganize through a Chapter 13. The one limitation is that secured debts must be under $1,184,200 and unsecured debts must be under $394,725. If the debts exceed these amounts the individual will have to file a Chapter 11 to reorganize the business. The benefits of a Small Business Chapter 13 The
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Chapter 13 VideoFirst, it consists of the amount you have not paid. Added are late charges for each month until you are current. Also, when you are behind the mortgage company orders drive-by inspections that they charge to you. And, sometimes they are able to add lawyer’s fees. CAN YOU CURE MORTGAGE ARREARS THROUGH A CHAPTER 13
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Arrears Mortgage VideoIn essence, Chapter 13 bankruptcy is a repayment plan. There are many reasons why you may choose to file for Chapter 13 bankruptcy, as well as many benefits associated with doing so. This section is concerned with one of those benefits: the opportunity to save your home. For homeowners who have defaulted on their mortgage
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Chapter 13 Home Homeowner VideoYou wake up in the morning, get ready for the day, and start heading toward your car… only to find that it’s not there. You call the police, only to be told it’s been repossessed. What do you do? You don’t have the money to get your car back, but you rely on it every
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Automobile Repossession VideoThe Chapter 11 plan must comply with all the provisions of bankruptcy code The Chapter 11 plan was filed in good faith and all relevant information has been fully disclosed Payments to made unsecured creditors after confirmation will equal or exceed the amount such creditors would receive in a hypothetical Chapter 7 liquidation (a best
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Chapter 11 VideoYou 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
CHAPTER 7 When a sole proprietorship simply cannot continue to pay his/her debts a Chapter 7 may be the best option. A sole proprietorship can include a married couple owning the business together. It must be remembered that when a sole proprietor files a Chapter 7 the person is filing the case. So the filing
How Can Individually Owned Businesses File for Bankruptcy? Read Post »
Businesses VideoWhen it is obvious that finances are out of control good people wait. They delay using our Bankruptcy laws. Why? WAITING CAN AND WILL HURT YOU There is a term for the time one needs to file and when on actual files. It is called a “sweat box”. When in the “sweat box” period: People
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