Bankruptcy Law Question:Subject: Filed as individual 3 years agoQuestion:Hi. About 3 years ago I filed chapter 7 as an individual because I wasn't married. Now i'm married and unfortunately got myself into some more debt. Can I file again because my status has changed or do I still have to wait the 8 years?Answer:Hi. Unfortunately, you cannot file chapter 7 bankruptcy again until 8 years from the date you filed previously. Your option at this point is to file chapter 13 bankruptcy, where...
Chicago Bankruptcy Attorney, husband, father, Cubs fan.
Save some money, free entertainment
With the ever increasing gasoline and food expenses, my clients and consumers both should take advantage of the many free (or relatively cheap) things to do this Summer.Here is a quick list of ideas.1. The beach. Chicago has many beaches to choose from in the city and suburbs. This article from the Red Eye Chicago Paper has a listing of the best features for the top beaches in Chicago.2. The Art Institute of Chicago. ...
Financial advice and tips
I recently stumbled upon a very useful and insightful Blog Managing Personal Financerun by Devray. By profession, she is a consultant in Personal Banking for several years. She works for Debt Consolidation. She does a lot of reading and research on these subjects. The materials that you read are the result of interactions with finance experts, customer feedbacks, experiences and a lot of exploration of the subjects. So feel free to dig in and explore the vast wealth of information...
They’re Back…..Audits That is….
May 9, 2008As mandated in Section 603(a) of Public Law 109-8, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the United States Trustee Program (USTP) established procedures to audit petitions, schedules, and other information in consumer bankruptcy cases filed on or after October 20, 2006. Pursuant to 28 U.S.C. § 586(f), the USTP contracted with independent accounting firms to perform audits in cases designated by the USTP. In...
Bankruptcy Exemptions for retirement accounts in IL, reaffirming car lease and home
| Subject: | assets in bk |
| Question: | are both 401K's and IRA's exempt from chpt 7 in IL? Also, while credit is still in good standing can I lease a new vehicle getting a good interest rate and not have to list them a debtor? What happens to my house if it has no equity but I continue making the payments on time. |
northern district of Illinois bankruptcy statistics
| 2008 | Jan | Feb | Mar | Apr | Total |
bankruptcy motion to compel trustee to assume 3rd party contract
Recent court of appeals bankruptcy decision:7th Circuit Cases Civil - BankruptcyChiplease, Inc. v. Steinberg, No. 07-1879 (5/15/08). Appeal, N.D. Ill., E. Div. Aff?d.Dist. Ct. did not err in affirming Bankruptcy Ct. order that denied plaintiff's motion to compel Trustee to assume debtor's contract with third-party and to assign debtor's rights in contract to plaintiff. Record showed that debtor's right to renew terms of...
Keeping a corporate credit card after bankruptcy?
| Subject: | Chapter 7 & Corporate Credit Card |
| Question: | My husband and I are reviewing our options but need to find out if his corporate American Express card (which is paid in full each month) would be included in a discharge. The card is tied to his SS number, but is tied to his job. If this card were to be included, he... |
Active Duty -Bankruptcy reform bill
House Panel Markups Focus on Bankruptcy Relief for Active Duty Military The House Judiciary Committee today will mark up H.R. 4044, a bill that would exempt military reservists called to active duty and certain others from application of the means test in chapter 7.Stay tuned for further details.....
filing multiple bankruptcy cases
Subject: filing chapter 7 again Question: Hello,I want to know if I was discharged from a chapter 7 in 2003 or 2004, can I in 08 file again for a chapter 7 due to a hardship, it would be for a car for 20,500 i also have a credit card that i probably would keep with limit at 1,000 and payments are only 30 a month. I'm also a authorized user for my mom's AMEX and the is on my credit-what will happen to that? I...