Press Releases from David M. Siegel & Associates (7 total)
Bankruptcy Filings Predicted to Rebound
The new bankruptcy law that generally went into effect on October 17, 2005 caused a feverish rush to file.
The period immediately after October 17th was drastically slow for consumer bankruptcy professionals throughout the United States. Bradford W. Botes, Executive Director for NACBA (National Association of Consumer Bankruptcy Attorneys) states that he is "confident that the rate of filings will pick back up during the first quarter of…
5 Common Misconceptions About Filing Bankruptcy
1. If you file for bankruptcy, you will lose all of your property.
This may be the biggest misconception surrounding filing for bankruptcy. Every person who filed can protect a certain amount of property while still eliminating all or a portion of their debt.
2. If you file for bankruptcy, everyone will know about it.
Unless the person is a celebrity, the fact of filing will not become generally known.…
Illinois' Homestead Exemption Doubles
Illinois Residents can now protect $15,000.00 worth of equity in their residences free from creditor attachments, levies and sales. On January 1, 2006, the Illinois Code of Civil Procedure was amended to provide a homestead exemption of $15,000.00 for an individual homeowner. Section 735 ILCS 5/Art. XII Pt. 9 (Exemption of Homestead) effectively doubles the exemption that could be applied to protect a homestead.
This long overdue increase will…
Your Repossessed Vehicle Can Still Be Recovered
Suffering through a repossession does not necessarily mean that the vehicle is lost. In fact, a repossessed vehicle is recoverable by its owner as long as the vehicle has not been auctioned off or sold by the finance company. There are however a few requirements that must be met in order to convince the auto finance company to cooperate with the return of the vehicle.
1. The vehicle…
How To Easily Stop Foreclosure, Save Your Home And Repay Your Debt Over Time
Losing one's home to a foreclosure sale can be devastating and demoralizing. It doesn't take much to fall behind on mortgage payments. Job loss, injury, divorce, wage garnishments, personal loans, student loans, credit card payments and many other factors can lead to the inability to make timely payments. Mortgage companies often will not accept any amount other than the amount needed to become completely current. In…
Hispanics Feel At Ease With Lawyers Who Speak Their Language
For Hispanic speaking individuals in the United States, debt problems occur just like they occur to non-Hispanic speaking persons. The decision to seek legal help and to whom they approach to assist them does differ. Hispanics feel more comfortable dealing with someone who speaks their native language.
The bankruptcy laws in the United States are complex. More complex than ever due to the sweeping reform that…
Credit Counseling May Prove Helpful For Consumers Who File Bankruptcy
The Bankruptcy Abuse Prevention & Consumer Protection Act of 2005 (BAPCPA) became generally effective as to all bankruptcy cases filed on or after 10/17/05.
Under new Section 109(h), an individual can only be a debtor under (BAPCPA) if given a credit counseling briefing within 180 days prior to filing. This briefing must be provided by a non-profit budget and credit counseling agency approved by the United States Trustee or bankruptcy…
