Median income level for Illinois based on family sizeEffective: 2/1/08
| 1 Earner | 2 in Household | 3 in Household | 4 in Household | |
| Illinois | $44,673 | $56,545 | $66,607 |
Chicago Bankruptcy Attorney, husband, father, Cubs fan.
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 returns, bank statements, real estate documents and other related items associated with a debtor's bankruptcy case.
From the UST website:
NOTICE REGARDING DEBTOR AUDITS ...
More Bankruptcy Q&A
Here is another rapid fire list of Q & A from bankruptcy questions I have received recently.
If you have a specific question, feel free to contact me and I'll be happy to review your situation with you. Thanks
Subject: What does reach back mean?
Question: I was doing fine financially until I went to commission sales. I kept thinking I was going to make a lot more money than I did. In June 07 I took a cash transfer from my bank credit card to my checking (they offered...
Bankruptcy Questions and answers
Here is an updated bankruptcy question and answer session. As you can see there are many bankruptcy issues that can sway a case one way or another. Hold tight, here we go.
Chapter 7 and Lump sum SSDI payment
Question
My daughter applied for SSDI over 2 1/2 years ago. Her husband left her 2 years ago. Their divorce comes up in March. She just received a lump sum payment from Social Security for her disability. She has not paid any of her credit...
Tax refunds and bankruptcy
I have received several emails from clients filing for Chapter 7 that are concerned about their tax refunds, and whether the chapter 7 bankruptcy trustee will want to take it or not.
While the tax refund is an asset, you should schedule the estimated amount in the case.
Your lawyer will then exempt what they can to protect as much as possible.
In Illinois, you have a $4000 wildcard per debtor to use towards cash, bank accounts, personal household goods and tax refunds. Your Illinois...
Blockbuster fees
I received an interesting email from Blockbuster yesterday. They are increasing fees from $17.99 to $19.99. This comes on the heals of the plan modification they put thru just several months ago....eliminating the free in-store game rental coupon each month as well as capping the in-store exchanges at 5. I understand that companies need to make a profit, but this is ridiculous. I emailed them back both times, but got a canned letter about profits, and providing quality service and the...
Rapid Fire Q&A
Here are a sampling of questions I have been getting regarding bankruptcy an bankruptcy process. If you would like further bankruptcy information, please contact my law office.
Judgment
Q:
If a Judgment was won against you for a security bond and you file bankruptcy with no real property or income, can that judgment be included in the bankruptcy?
A:
I am not totally familiar with a 'security...
Women On the Go Online Feature Guest
Hi all.I just wanted to let you know that I have been invited to be a featured guest speaker on financial matters on the website Women On The Go Online. I will be speaking on bankruptcy, finance, and other money matters.Women on the Go Online is hosted by Nikki Woods, AM Morning personalilty on WGCI radio in Chicago.The monthly podcast can be found on the homepage, and my first topic, 'How to Avoid Bankruptcy' ran in June 2007.I discuss several tips and tricks on how to improve your daily,...
How to extend the life of your car
Below is a link to an article I found about how to get the most life out of your car.Many of my clients find themselves in bankruptcy with a huge car payment (or 2)This extra money could go a long way to get one out of debt, so if you can keep your car running for a few more years and avoid the temptation of getting a new car every 3 or 4 years, you can be on your way to financial freedom!How to live past 150,000 (miles, that is)From Aaron Gold,Your...
“Your guide to the law” from the Chicago Bar Association
Here is a posting that I came across for a free legal guide. Note, that it is always wise to talk to a lawyer to get exact advice based on your unique position. I offer free bankruptcy consultations, so pick up the phone and call Leeders & Associates, Ltd. today at 312-427-7400June 06Chicago Bar Assn. Offers Free Legal Handbook for Chicagoans from the Chicago Bar Assn. CHICAGO, ILL. (June 6, 2007)— The newly revised and reprinted paperback "Your Guide to the Law: A Basic Legal Handbook...