Blog Posts in August, 2011
Posted on Aug 31, 2011 By Marc Wagman
Debt settlement was a booming business until the Federal Trade Commision and the Attorney Generals around the country starting cracking down on them last year. Presently, the FTC has shut down ...
Continue reading "Debt settlement versus a bankruptcy?" »
Posted on Aug 30, 2011 By Marc Wagman
The means test was put into the amended bankruptcy code in 2005, because of a perception in Congress that many debtors were abusing the bankruptcy process. The credit card companies and car lenders ...
Continue reading "What is the Means Test?" »
Posted on Aug 26, 2011 By Marc Wagman
A reaffirmation agreement is a secondary contract which will survive the discharge of a Chapter 7 . Reaffirmation agreements can only be approved by the bankruptcy court if there is some collateral ...
Continue reading "What is a Reaffirmation Agreement?" »
Posted on Aug 23, 2011 By Marc Wagman
This New York Times article, looks at a new idea to help struggling homeowners with the problem of both foreclosure and being underwater on their mortgage. It argues that the Congress and Obama ...
Continue reading "Homeowners Need Help Now!" »
Posted on Aug 22, 2011 By Marc Wagman
One of the common questions I get from a bankruptcy client is whether or not my creditors will show up at my 341 meeting? The answer is that creditors rarely show up at the meeting of creditors. The ...
Continue reading "Will my creditors show up when I file Bankruptcy?" »
Posted on Aug 19, 2011 By Marc Wagman
One of the common questions I get from clients who see me is who is the trustee? The trustee is the administer of the bankruptcy case. In its most simple terms, the trustee administers the estate for ...
Continue reading "Who is the Trustee and what does he or she do in a Bankruptcy?" »
Posted on Aug 18, 2011 By Marc Wagman
Despite a nationwide decline of bankruptcy filings of 8 percent some experts believe that there is no room for optimism regarding the economy. This article from the Boston Globe, says that despite a ...
Continue reading "If bankruptcy filings are down does that mean that the economy is improving?" »
Posted on Aug 12, 2011 By Marc Wagman
In todays fragile economy, most people cannot afford to lose any money to creditors. Basic necessecities such as food, clothing, and shelter are hard enough to pay for. Most are living paycheck to ...
Continue reading "Stopping A Garnishment" »
Posted on Aug 9, 2011 By Marc Wagman
Having your car repossessed is a very trying ordeal. If your car is necessary to get back and forth to work, it can send your life into a tailspin. However, if you use your car to go to work, then the ...
Continue reading "My car got repossessed what can I do?" »
Posted on Aug 4, 2011 By Marc Wagman
Despite one of the worst economies in recent memory, bankruptcy filings nationwide have decreased according to this article in Reuters. Consumer bankruptcy filings nationwide have fell as much as 18 ...
Continue reading "Bankruptcies fall despite a sluggish economy?" »
Posted on Aug 2, 2011 By Marc Wagman
As a Chicago Bankruptcy Attorney I will often meet with clients who have a few or a lot of parking tickets. Parking tickets in the City of Chicago are not discharged by the discharge in a Chapter 7 . ...
Continue reading "My License is Suspended for Parking Tickets! What should I do?" »
Posted on Aug 1, 2011 By Marc Wagman
A client will often come in to my office and ask what debts can be "wiped away" with a Chapter 7 bankruptcy? The answer is, medical bills, payday loans, credit cards, repossessions, a ...
Continue reading "What Debts Can I Wipe Away with a Chapter 7 Bankruptcy?" »