Do I Qualify for Chapter 7 Bankruptcy? The question of whether a person can qualify for Chapter 7 bankruptcy became an issue in 2005 with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). Creditors lobbied for a Means Test to be added to the Bankruptcy Code as a way of… Read More »
When you file bankruptcy under Chapter 7, Chapter 13, or Chapter 11 of the United States Bankruptcy Code, you are required to attend a First Meeting of Creditors. The First Meeting of Creditors is scheduled by the court 20 to 40 days after the filing of your bankruptcy case. Each debtor must appear at the… Read More »
“Is it too late to file bankruptcy if I have been served with a lawsuit?” Our attorneys are asked this question far too often. Unfortunately, some people wait far too long before considering bankruptcy as a way to solve their debt problems. In some cases, they wait until they are being sued before they consult… Read More »
Do's and Dont's for Your 341 Meeting of Creditors from Joe Pioletti When you file a bankruptcy case, you will be required to attend the First Meeting of Creditors. Take note of the things you should or should not do for your First Meeting of Creditors in Illinois.
Dealing with debt problems can have emotional and physical consequences. For many people, struggling with debt problems leads to depression, anxiety, high blood pressure, and insomnia. Answering endless calls from creditors, receiving threatening letters from collection companies, and living with the fear that you will lose your home or car is extremely frightening and stressful.… Read More »