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Bankruptcy

Save Your Car from Repossession with Chapter 13 Bankruptcy

  If you’re facing car repossession due to financial hardship, Chapter 13 bankruptcy may be the solution. By filing for Chapter 13, you can restructure your auto loan and repay the debt, along with other liabilities, over five years through a manageable monthly payment. This option can help stop repossession and allow you to keep […]

Use Chapter 13 Bankruptcy to Save Your Home from Foreclosure

  If you’re behind on your mortgage and want to keep your home, Chapter 13 bankruptcy can help. This option allows you to repay the overdue amount (arrearage) over five years while staying current on your regular mortgage payments. By filing for Chapter 13, you can stop foreclosure and create a manageable repayment plan that […]

Key Mistakes to Avoid Before Filing Chapter 7 Bankruptcy

  Before filing for Chapter 7 bankruptcy, there are crucial mistakes to avoid. Don’t withdraw funds from protected retirement accounts like 401(k)s, as these assets are safe from creditors. Additionally, avoid transferring property for less than its fair market value or repaying family members, as these actions could be seen as fraudulent. Always consult an […]

So You’re Thinking of Filing Chapter 13 Bankruptcy? – Pre-Filing Requirements for Chapter 13 Bankruptcy

  So You’re Thinking of Filing Chapter 13? What You Need to Know Before You Begin the Process Filing for Chapter 13 bankruptcy is a serious decision—one that requires careful planning, clear understanding, and a firm commitment to follow through. Often referred to as a “wage earner’s plan,” Chapter 13 offers a structured path for […]

Pre-Filing Requirements for Chapter 7 Bankruptcy

  Before filing for Chapter 7 bankruptcy, also known as the “Fresh Start” bankruptcy, there are key pre-filing requirements. These include providing proof of income for the last two months, submitting federal tax returns for the past one or two years, and completing a 90-minute credit counseling session. Learn about these essential steps to ensure […]

Exploring Chapter 13 Bankruptcy: Reorganization and Repayment Plans

  This video explains Chapter 13 bankruptcy, a reorganization plan for individuals who have income above their living expenses but need help paying off debt. Learn how a structured repayment plan works over five years, how it may vary based on assets and liabilities, and how it can offer significant relief by repaying creditors in […]

Why You Should Avoid Credit Card Cash Advances

  “Thinking about using your credit card for a cash advance? Let’s talk about why it’s often a financial mistake.” “Cash advances come with high upfront fees, typically 3-5% of the amount withdrawn. And the kicker? There’s no grace period—interest starts accruing immediately, often at a rate higher than your regular APR.” “Instead of using […]

Create a Debt-Free Budget

  “To successfully pay off credit card debt, you need a well-thought-out budget. A debt-free budget should prioritize your debt payments, limit unnecessary spending, and ensure you’re putting enough toward saving.” “Start by listing your income and then subtracting necessary expenses like rent, utilities, and groceries. Whatever is left should go toward debt repayment.” “Automate […]

Why You Shouldn’t Use Credit for Daily Expenses

  “Credit cards are tempting, but using them for daily expenses is a quick way to spiral into more debt.”  “Here’s why: Every time you swipe your credit card, you’re accumulating debt. While you might think, ‘I’ll just pay it off next month,’ it can become a cycle if you’re constantly carrying balances and paying […]

Advice for Staying Clear of Debt and the Benefits of Bankruptcy Consultation

  In this video, Brian shares advice for those struggling financially, emphasizing the importance of seeking help. He talks about how referring people to David Siegel Law Firm for consultations has made a significant difference in helping them understand their options and start managing their debt more effectively.  

Understanding Chapter 7 Bankruptcy: A Fresh Start

  Chapter 7 bankruptcy, often referred to as the “Fresh Start,” is ideal for individuals facing overwhelming unsecured debt, such as credit cards, medical bills, personal loans, and debts from services. It allows individuals to discharge these debts, offering a chance to rebuild financially. However, it’s not a solution for all debts. Student loans, recent […]

What You Need to Know About Chapter 7 Bankruptcy

  Chapter 7 bankruptcy, also known as the “Fresh Start” bankruptcy, provides relief for individuals with significant unsecured debt, such as credit cards, medical bills, and personal loans. It offers a chance to wipe out these debts and get a clean financial slate. However, it does not eliminate all types of debt. Student loans, recent […]

Why Bankruptcy Remains a Necessary Tool for Financial Relief

  As the cost of living continues to rise, even with increasing wages and higher asset values like real estate and retirement accounts, many people still find themselves struggling. Credit card interest rates and day-to-day expenses make it hard for individuals to break free from debt. Bankruptcy, particularly Chapter 7, remains a crucial option for […]

What Debts Are Not Eliminated in Chapter 7 Bankruptcy?

  While Chapter 7 bankruptcy can eliminate many debts, there are certain types that are typically not discharged. These include student loans, recent taxes, parking tickets, child support, maintenance payments, debts incurred by fraud, and criminal restitution. However, debts like credit card balances, medical bills, personal loans, and auto repossession deficiencies can often be fully […]

How Soon Can You Buy a Home After Filing Chapter 7 Bankruptcy?

  After filing for Chapter 7 bankruptcy, there’s typically a two-year waiting period before you can qualify for a mortgage. The key to improving your chances of financing is to avoid incurring any negative credit after your bankruptcy. If you can maintain good standing with existing obligations, you’ll be in a better position to secure […]

What Does It Mean to Reaffirm a Debt in Chapter 7 Bankruptcy?

  Reaffirming a debt in Chapter 7 bankruptcy means agreeing to remain liable for a specific debt, such as an auto loan, even after filing. This is common when a debtor wants to keep their vehicle and continue making payments. The lender sends a reaffirmation agreement, which, when signed, keeps the debt in good standing […]

The Transformative Power of Bankruptcy

    As a bankruptcy attorney, the most rewarding part is witnessing the positive change in clients’ lives. Many come in stressed, overwhelmed by lawsuits, and harassment, but through the right bankruptcy chapter, their financial futures can be transformed. Eliminating debt doesn’t just clear financial burdens—it improves productivity, work performance, relationships, and overall life satisfaction. […]

What Are Some Common Bankruptcy Exemptions?

Chapter 7 bankruptcy allows for the liquidation of a debtor’s non-exempt assets to pay creditors. However, certain types of property are exempt from liquidation, allowing the debtor to keep these assets. The specifics of these exemptions can vary by state, but they generally cover essential personal property, household items, and certain other types of assets. […]

What Happens After Filing Chapter 13 Bankruptcy?

After filing Chapter 13 bankruptcy, the automatic stay halts creditor actions. You’ll attend a Meeting of Creditors via Zoom about four weeks later, with the Chapter 13 trustee and your attorney present. Additionally, you’ll complete a two-hour financial management course. As your case progresses, there will be confirmation hearings, but typically, your attorney will represent […]

How to Stop Wage Garnishment with Bankruptcy

  Struggling with wage garnishment? Filing for bankruptcy can provide relief. Chapter 7 offers a fresh start by halting garnishments through an automatic stay, while Chapter 13 allows you to repay the debt over a 3-5 year period under a reorganization plan. Consult an experienced bankruptcy attorney to explore which option is best for your […]

Understanding the Chapter 13 Meeting of Creditors

  Filing for Chapter 13 bankruptcy? Be prepared to attend the Section 341 Meeting of Creditors via Zoom, typically held about four weeks after filing. During this 5-10 minute session, the Chapter 13 trustee will verify your financial information and confirm the feasibility of your repayment plan. Your attorney will also be present to guide […]

What to Expect at Your Chapter 7 Bankruptcy Meeting

  Filing for Chapter 7 bankruptcy? You’ll need to attend a brief Zoom meeting with your trustee, typically held about four weeks after filing. During the 5-10 minute session, the trustee will ask simple yes-or-no questions based on your submitted schedules and petition. This meeting ensures there are no assets to administer for unsecured creditors, […]

Stop Car Repossession with Chapter 13 Bankruptcy

  Facing car repossession due to financial hardship? Chapter 13 bankruptcy can help you restructure your auto loan and other debts into an affordable five-year repayment plan. This solution lets you keep your vehicle while catching up on payments. Not everyone qualifies, but it’s a powerful option to regain financial control and protect your property.

Avoid These Mistakes Before Filing Chapter 7 Bankruptcy

  Planning to file for Chapter 7 bankruptcy? Protect your financial future by avoiding common mistakes, like withdrawing funds from protected retirement accounts or transferring property for less than fair market value. These actions could jeopardize your case. Consult with an attorney to ensure your steps are legal and in your best interest. Proper guidance […]

Preparing for Chapter 13 Bankruptcy: Essential Requirements

Thinking about filing for Chapter 13 bankruptcy? Before starting this reorganization plan, ensure you meet the pre-filing requirements. These include providing proof of income from the past two months, ensuring federal tax returns for the last four years are filed (if required), and completing a 90-minute credit counseling session with an approved provider. Proper preparation […]

Key Steps to Prepare for Chapter 7 Bankruptcy

Considering filing for Chapter 7 bankruptcy, also known as the “fresh start” option? Learn about the essential pre-filing requirements, including providing proof of income, submitting recent federal tax returns (if applicable), and completing a mandatory 90-minute credit counseling session. This preparation ensures eligibility and sets the foundation for a successful Chapter 7 case.

Understanding Chapter 13 Bankruptcy: A Path to Financial Reorganization

  Learn how Chapter 13 bankruptcy helps individuals with disposable income create a repayment plan for their debts over a 60-month period. This option can provide relief while repaying creditors fully or partially, depending on assets, liabilities, and financial circumstances. Discover how Chapter 13 offers a structured alternative to liquidation under U.S. bankruptcy law.