Often times a person who files Chapter 7 has a home mortgage. Sometimes a first and second mortgage. The client is current on the monthly mortgage. They ask: “Should I reaffirm my mortgage”? Lawyers who represent Chapter 7 individuals say “No”. This includes my firm, Robert J. Adams & Associates. In the final analysis the choice is […]
Should I Reaffirm My Mortgage In Chapter 7 Bankruptcy? Read Post »
Chapter 7 Mortgage VideoBankruptcy can disrupt your life. It can bring about changes that you never planned on. And for many people who live outside major cities with excellent public transportation options, a car is their connection to food and work. Giving up your car in a bankruptcy can be a difficult decision, but you do have choices.
Should I Reaffirm My Automobile Debt In Chapter 7? Read Post »
Automobile Car Chapter 7 VideoEach of these is a common question I am asked. First, spouses may join in Chapter 7. It is called a joint case. Second, spouses are not required to join in Chapter 7. SHOULD SPOUSES JOIN TOGETHER IN CHAPTER 7? It is a good idea if each spouse has a lot of debts, especially joint debts.
Can My Spouse File A Joint Chapter 7 With Me? Read Post »
Chapter 7 Spouse VideoThe current filing fee is $335.00. WHAT IF I DON’T HAVE ENTIRE THE $335 OR ANY OF IT? The filing fee can be paid in installments, up to 4 months. WHAT IS THE FILING FEE? It is the amount the Courts has determined what is necessary to administer Chapter 7 cases. In my opinion it is too
How Much Is The Filing Fee In A Chapter 7 Case? Read Post »
Chapter 7 Fees VideoThe issue of bankruptcy is a serious one, one that needs to be considered from all angles. Many people facing bankruptcy don’t know what to expect, and most everyone feels anxiety about the process and its impact on their lives. But bankruptcy can be a great solution for some, when financial stress has become overwhelming.
How Long Does A Chapter 7 Bankruptcy Take? – What To Expect Read Post »
Bankruptcy Chapter 7In 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 VideoFiling a Chapter 13 is a voluntary decision. There are various reasons you might want to convert if it is not working, or you have a car that you are trying to save, which is a piece of junk now, or the housing situation is just not working out. You have a real estate tab,
Can Someone Convert A Chapter 13 To A Chapter 7 Bankruptcy? Read Post »
Chapter 13 Chapter 7 VideoThe answer is “Yes.” But the real question is whether a Chapter 7 is in my best interest? The main questions are: The above is very simplified but covers 90% or more of individuals looking to get out of debt. It is always wise to consult with a lawyer who has experience in Consumer Bankruptcy.
Can I File a Chapter 7 Bankruptcy? Read Post »
Bankruptcy Chapter 7 VideoA chapter 7 bankruptcy is a filing with the U.S. bankruptcy court to obtain a discharge of listed debts. In other words, at the end of the bankruptcy, the debts listed you will not be owed money anymore. It’s oversimplification because there are debts that are not discharged and there are debts you wish to
What Is A Chapter 7 Bankruptcy? Read Post »
Bankruptcy Chapter 7 VideoCAN I FILE A NEW BANKRUTCY? CHAPTER 7 OR CHAPTER 13? This is a general outline provided by ROBERT J. ADAMS & ASSOCIATES. Offices in Chicago and Waukegan, Illinois The primary practice of ROBERT J. ADAMS & ASSOICATES is Chapter 7 and Chapter 13 Bankruptcy. This article is only about timing: not whether you can
Can I File a New Bankrutcy? Chapter 7 or Chapter 13? Read Post »
Bankruptcy Chapter 13 Chapter 7 Video