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Monthly Archives: July 2010

How to become a client of Lakelaw for your bankruptcy case

Posted by David Leibowitz on July 27th, 2010 in Bankruptcy Information

Lakelaw, like every law firm, welcomes new clients. Not only that, Lakelaw really values referrals from our existing clients.  We also welcome referrals from other attorneys.

We know what you want from your bankruptcy attorney.  We strive to give provide you the highest quality of service and the most sophisticated level of legal representation. We welcome all clients, rich or poor, of all backgrounds and from all areas.  You don’t have to be from Chicago or Lake County or Kenosha to be represented by Lakelaw.  We can represent you anywhere in Illinois or Wisconsin.

You are entitled to the best attorneys and the best service.  So why take chances?  Select the outstanding and nationally recognized lawyers of Lakelaw to represent you.  Here’s how.

We ask our bankruptcy clients to visit our consumer bankruptcy center.  There you will find our very own “Four Steps to Financial Freedom.”

We ask you to do the following:

  1. Download the disclosure forms at Step 1 and keep them for your records
  2. Download a truly free credit report from annualcreditreport.com at Step 2 and keep it for your records
  3. Gather all the information and papers requested at Step 3
  4. Complete the Questionnaire at Step 4.  This way, we will be ready to discuss your case when you come for your appointment.
  5. Make an appointment with Lakelaw at one of our convenient offices.  Ask to see the attorney of your choice.
  6. Be prepared to hire us at your first meeting – particularly if you want to get started right away.  Even a small initial payment will be enough for you to hire Lakelaw as your bankruptcy attorney.
  7. You don’t have to pay us in full for chapter 13 cases – you can pay some of your fees under your plan.
  8. If you want us to handle your chapter 7 case, we’ll want payment in full before we file your case.  We’ll always work with you for a convenient payment plan

Lakelaw bankruptcy attorneys want to help you resolve your financial challenges and become free of debt.  Take your first steps today and call 1 866 LAKELAW (525-5329) to set up an appointment with the attorney of your choice.


Chapter 13 – The Best Debt Consolidation Deal Ever

Posted by David Leibowitz on July 18th, 2010 in Chapter 13, Uncategorized,

You see adds on TV – “Don’t Go Bankrupt – Use Debt Consolidation Instead.”  I’ve got news for you. Chapter 13 is the best debt consolidation deal ever.  Why?  Here’s why chapter 13 is your best bet for debt consolidation in Illinois or debt consolidation in Wisconsin

  1. You pay your disposable income for 3-5 years, no more than that.
  2. You pay no interest
  3. Your fees are limited to one attorneys fee and a small percentage to the chapter 13 trustee
  4. You get the benefit of the automatic stay
  5. All lawsuits stop
  6. All garnishments stop
  7. You can object to claims in chapter 13
  8. You can eliminate totally unsecured mortgages in chapter 13
  9. Unlike debt consolidation programs – most of which have been found by the FTC to be scams – chapter 13 is backed by the full faith and credit of United States Bankruptcy Courts.

If you want a real debt consolidation – go with chapter 13 and call Lakelaw today 1 866 LAKELAW (525-3529)


Should I Reaffirm My Mortgage in Bankruptcy

Posted by David Leibowitz on July 9th, 2010 in Mortgage Modifications

You are in bankruptcy and you want to keep your home.  You have struggled to pay your mortgage and can keep paying it if you just get rid of your credit card and other unsecured debts. So you decide that you need to file a chapter 7 bankruptcy case.  Your lawyer asks “what is your intention” about your mortgage loan ?  Do you intend to reaffirm or surrender?

These are not your only options. In contrast to the situation regarding an auto loan, where you could actually have the car repossessed if you don’t reaffirm, you could keep paying your home mortgage loan without losing your house.

Why might you want to reaffirm – contractually agree to personal liability – for a home mortgage loan even though your personal obligation to pay would otherwise be discharged in bankruptcy?

I recently asked that question to a lender who wants our client to reaffirm.   This is what the lendeer said:

The following could possibly be available to the Debtor should they qualify for a rate modification.

* Credit bureau reporting restored

* Online access restored

* Loan may be brought current*

* Option to apply for a rate mod reducing rate

* Will receive billing statements

So the answer is clear.  Don’t reaffirm unless you are getting something back which you think is of value to you, like a loan modification or other good consideration. 

For real debt relief in bankruptcy and beyond in Illinois or Wisconsin, call Lakelaw at 1 866 LAKELAW (525-3529) today.


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