Recognized for Excellence in Bankruptcy – Your Financial Life-Saver TM

Bankruptcy and mortgage help for people and business in Illinois and Wisconsin sm

Can We Stay in our House Even After a Foreclosure?

Posted by emsc on April 9th, 2014 in Foreclosure - Saving Your Home

With the help of Lakelaw’s foreclosure defense attorneys, the answer could be yes.  Just a few days ago, our client was within days of eviction. Her foreclosure case had been pending for almost three years. When her husband became terminally …

READ MORE


Can Non-Citizens and International Corporations File Bankruptcy in the United States?

Posted by Carrie Zuniga on April 8th, 2014 in Bankruptcy, Business Bankruptcy, , ,

America is still a magnet to people from all over the world. People come to America both legally and illegally. Chicagoland has one of the broadest immigrant and first-generation populations in America. Chicago is also a magnet for many corporations …

READ MORE


Why Is My Bankruptcy Lawyer Asking For All Of These Documents?

Posted by Ryan Blay on April 8th, 2014 in Bankruptcy, Bankruptcy procedures

Lawyers don’t like paperwork.  If we had a choice, we’d have a paper-free office.  But in our jobs, we need to be ready to show the right papers to the right people to be effective. The Bankruptcy code says we …

READ MORE


Say No to Debt Consolidation – Consider Chapter 13 Bankruptcy

Posted by emsc on April 3rd, 2014 in Bankruptcy, Chapter 13

Most people want to pay their debts. Many people think that filing bankruptcy is wrong. Some think that filing a bankruptcy case is dishonorable. And quite a few people think that bankruptcy is immoral. For these people, the hope of …

READ MORE


What Happens If My Bankruptcy is Dismissed and I Have to Re-File?

Posted by Ryan Blay on March 28th, 2014 in Bankruptcy, Bankruptcy procedures, Chapter 13, Chapter 7

In baseball, a batter gets three strikes, then he’s out.  It doesn’t quite work that way with bankruptcy.  Take our clients Aaron and Wendy.  They filed a Chapter 13 bankruptcy and their bankruptcy was dismissed.  They weren’t able for different …

READ MORE


Credit Unions and Cross-Collateralization in Bankruptcy

Posted by Carrie Zuniga on March 27th, 2014 in Bankruptcy, Chapter 13, Chapter 7, ,

Clients want to file a chapter 7 bankruptcy to clear up credit card debt and get a fresh start. Credit union customers are shocked to learn that their credit cards with a local credit union are tied together with their …

READ MORE


Reverse Mortgages and Baby Boomers – No free lunch

Posted by David Leibowitz on March 24th, 2014 in Uncategorized

Baby Boomers are signing up for reverse mortgages at record levels.  They’ve taken out $15.3 billion worth in 2013, an increase of 20 percent from the year before. Baby boomers who have saved nothing for retirement  – almost 77 million of …

READ MORE


Chapter 13 Bankruptcy can save your house from an Illinois Tax Deed or an Illinois Tax Sale

Posted by David Leibowitz on March 4th, 2014 in Bankruptcy, Bankruptcy and Taxes, Chapter 13, Illinois, , , ,

So many of our bankruptcy clients fear losing their house to mortgage foreclosure.  We have done a good job of teaching our clients that chapter 13 bankruptcy can save your home from mortgage foreclosure. You can catch up with payments you …

READ MORE


Divorce and Bankruptcy – It’s complicated

Posted by Justin Storer on February 20th, 2014 in Uncategorized

Divorce is complicated. Bankruptcy is complicated.  Divorce and bankruptcy together are really complicated. The Bankruptcy Code is a series of trade-offs. The interests of creditors are balanced with those of the Debtors who need relief.  Some debts can’t be wiped …

READ MORE


I’m filing bankruptcy – do I have to consider my spouse’s income? “It’s complicated.”

Posted by David Leibowitz on February 20th, 2014 in Bankruptcy, Chapter 13, Chapter 7, , , , ,

If you are filing for bankruptcy, either under chapter 7 or chapter 13, your income matters.  Why?  People who make more than the median income – the income more than 1/2 of the people make – are presumed to be …

READ MORE


Use Illinois Exemptions to Protect Against Judgments and Citations to Discover Assets in Illinois

Posted by David Leibowitz on February 17th, 2014 in Exemptions, , ,

Our client needs to file for bankruptcy but can’t file her case until August.  Why?  She wants to discharge income taxes and must wait until they have been due long enough. In the meantime, creditors were suing her and getting …

READ MORE


Seventh Circuit’s In re New Energy Corp. and Standing to Object to an Auction Sale

Posted by David Leibowitz on February 12th, 2014 in Bankruptcy, Bankruptcy Sales, Business Bankruptcy, Chapter 11, , , , , ,

On January 15, 2014, the Seventh Circuit Court of Appeals held that a party, who is not a creditor and did not elect to bid at an auction sale, does not have standing to contest the approval of the sale. …

READ MORE


Can Lakelaw file a joint bankruptcy petition for us if we are a same-sex couple?

Posted by emsc on February 12th, 2014 in Bankruptcy Information, Chapter 13

At Lakelaw, we have filed a joint bankruptcy petition for a same-sex couple.  We had a couple we’ll call Daniel and Anthony.  The couple married in a state that permits same-sex marriage, since their home state, Wisconsin, does not.  Still, …

READ MORE


Can I file for chapter 7 if I can no longer make my payments under a chapter 13 plan?

Posted by Ryan Blay on December 19th, 2013 in Bankruptcy, Chapter 7, Wisconsin

We filed a chapter 13 bankruptcy case for a couple we’ll call Larry and Laura.  This allowed them to pay their debts off with one monthly payment over a period of 5 years.  But things went south for them.  Larry …

READ MORE


Mistakes to Avoid When Filing Bankruptcy in Chicago

Posted by David Leibowitz on December 9th, 2013 in Bankruptcy, Chapter 13, Chapter 7

It is a good idea to consult with an experienced Chicago bankruptcy attorney before acting.  Bankruptcy is a big decision and can provide the financial freedom you desperately need.  However, it should not be entered into lightly.   Bankruptcy does require …

READ MORE


New FHA Rules give hope for Mortgages after Bankruptcy

Posted by David Leibowitz on September 23rd, 2013 in Foreclosure - Saving Your Home, Mortgage Foreclosure Defense, Mortgage Modifications, Real Estate

If you filed bankruptcy through no fault of your own, or if you suffered a foreclosure for reasons beyond your control, it is now possible to get an FHA insured loan. You can get a new mortgage  one year after …

READ MORE


Help, a creditor took money from my bank account after I filed for bankruptcy!

Posted by Ryan Blay on September 23rd, 2013 in Bankruptcy, Chapter 13, Chapter 7, Consumer Law, Wisconsin

Sam and Sally were victims of payday loans in Wisconsin.  The payday lenders were sucking large sums of money from their bank accounts every month. Lakelaw filed bankruptcy for Sam and Sally to stop the payday lenders. The automatic stay …

READ MORE


My Chicago bankruptcy lawyer has been disbarred!! What do I do?

Posted by David Leibowitz on August 29th, 2013 in Bankruptcy Ethics, Chapter 13, Chapter 7, ,

You want to file your bankruptcy case right now.  Maybe you even found www.filenow.com.  If you did, your lawyer has a problem.  Your lawyer’s problem now is your problem. If your bankruptcy attorney has been disbarred, you may feel lost …

READ MORE


SUBSCRIBE

Blog Categories

Archives

Tags




LakeLaw – Recognized for Excellence