The automatic stay is a key motivator for individuals filing for both Chapter 7 and Chapter 13 bankruptcy, often shaping when they choose to do so. The automatic stay is mostly utilized in Chapter 13 filings due to its ability to prevent vehicle repossession, wage garnishment, and home foreclosure for up to 5 years. Because […]
Extending the Automatic Stay in Multiple Bankruptcies Read More »
If you’ve ever faced the stress of a vehicle repossession, you know just how urgent the situation can become. Chapter 13 bankruptcy can offer a way to regain possession of your vehicle, but time is of the essence. Acting swiftly is crucial before your lender auctions off the vehicle, as once it’s sold, retrieval becomes
Motions to Compel Turnover: Retrieving Repossessed Vehicles Read More »
If you find yourself in the unfortunate situation of having your vehicle repossessed due to missed payments, bankruptcy can offer a potential lifeline to regain possession. This article aims to clarify the specific provisions of each chapter of bankruptcy to help you get your car back ASAP. Understanding these legal avenues can empower you to
How to Get a Repossessed Car Back in Illinois Read More »
When filing for Chapter 7 or Chapter 13 Bankruptcy, you’ll need to furnish your attorney with several documents, which may vary based on factors such as your assets, income, and individual circumstances. Accuracy is important from the start to steer clear of complications and potential issues with the Bankruptcy Trustee moving forward. Here’s a rundown
Bankruptcy Preparation Guide: Documents You Need to Know Read More »
After filing for Chapter 7 or Chapter 13 bankruptcy, you can start the process to discharge your student loans by submitting an Adversary Complaint under 523(a)(8). Once you’ve properly notified the US Department of Education and all other relevant parties, the formal procedure begins. Your case is then assigned to an Assistant US Attorney (AUSA),
Understanding the Student Loan Attestation Read More »
A wage garnishment, also known as a wage attachment or wage deduction, is Court order that instructs your employer to withhold a specific amount of money from your paycheck and send it directly to a creditor. In most cases, a creditor cannot garnish your wages without obtaining a court-issued money judgment first. For example, if
Illinois Wage Garnishment Laws Read More »
In my experience, individuals, especially those in finance or high-profile positions, often hesitate to file for bankruptcy due to the social stigma attached. There’s a widespread fear of potential job termination if employers discover the bankruptcy, leading to concerns about missed job opportunities. While bankruptcy should not be a permanent mark on your record, occasional
How Does Filing Bankruptcy Affect My Job? Read More »
Receiving a letter from the Chapter 13 Trustee, whether it’s Marilyn Marshall, Thomas Hooper, or Glenn Stearns, can be a stressful moment. The ominous header, “Motion to Dismiss,” stares back at you, triggering the realization that your hard work in the bankruptcy case might be at risk. Why Did the Trustee File a Motion to
Chapter 13 Trustee Motions to Dismiss Read More »
Completing the Means Test is a critical step in evaluating your financial situation, specifically focusing on your income. This test serves as a key factor in determining whether you have the financial means to repay your creditors. In this discussion, we will closely examine what constitutes income for means test purposes, shedding light on what
What is Considered Income in Bankruptcy? Read More »
Obtaining a copy of your bankruptcy discharge paperwork is crucial, particularly when seeking new loans or leases. Lenders often require a copy of the actual court order to evaluate your eligibility for financing. This document becomes essential when applying for new credit post-bankruptcy, serving as a means for lenders to verify your debt status. The
Where Can I Get A Copy Of My Bankruptcy Discharge Papers? Read More »
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