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Posted by Ryan Blay on June 5th, 2013 in Alternatives to Bankruptcy, Real Estate
A gentleman came to see us yesterday. He had some questions about his finances and he wanted to tell us about a property he held out of state. He didn’t know if he should consider bankruptcy, a foreclosure on that …
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Posted by Ryan Blay on April 17th, 2013 in Bankruptcy, Bankruptcy Information, Bankruptcy procedures, Chapter 13, Chapter 7, Debt Settlement, Exemptions, Illinois, Wisconsin
As an attorney who’s been practicing in consumer bankruptcy for five years now (in Illinois and Wisconsin), it’s heartbreaking and frustrating to see the huge amount of lies and misinformation about bankruptcy. Some of these mistakes come from gossip or …
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Posted by Ryan Blay on April 12th, 2013 in Bankruptcy, Bankruptcy Information, Chapter 13, Chapter 7, Wisconsin
When a bankruptcy is filed, any schedules and statements that aren’t filed with the basic paperwork are due within 14 days from the case filing. For almost everyone, that is plenty of time to gather paperwork, meet with an attorney, and …
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Posted by Ryan Blay on March 27th, 2013 in Bankruptcy Information, Exemptions, Wisconsin
EdVest accounts are 529 College Savings Plans offered in Wisconsin. These accounts, like any other account, are considered assets in a bankruptcy. There are two ways to protect the value in these accounts: 1. Use the wild card exemption offered …
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Posted by Ryan Blay on March 20th, 2013 in Bankruptcy, Bankruptcy Information, BAPCPA, Chapter 13, Chapter 7, Wisconsin
A few years ago, the US Supreme Court decided a case called United Student Aid Funds, Inc. v. Espinosa. The decision held that even when a Chapter 13 plan violates the Bankruptcy Code, the creditor must object within a set time or …
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Posted by Ryan Blay on February 27th, 2013 in Bankruptcy, Chapter 13, Foreclosure - Saving Your Home, Mortgage Foreclosure Defense, Wisconsin
“After losing the standing argument in state court, it is beyond frivolous for the Debtors to file bankruptcy, reiterate the same losing arguments and now claim, not only that the Note is invalid, but that the foreclosing creditor and its …
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Posted by Ryan Blay on February 22nd, 2013 in Bankruptcy, Bankruptcy Information, Wisconsin
A recent decision in the Eastern District of Wisconsin educates us on the old – preferences – and the new – a novel defense. This will be helpful in both Chapter 7 and Chapter 13 cases. First – what is …
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Posted by David Leibowitz on January 30th, 2013 in Debt Settlement
There is a time limit for auto loan debts on when they can no longer be legally collected. Debt collectors and lenders cannot sue a borrower once the financing in question has been statute-barred. A statute of limitations is the …
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Posted by Ryan Blay on January 16th, 2013 in Bankruptcy, Bankruptcy Information, Bankruptcy procedures, BAPCPA, Chapter 7, Illinois, Wisconsin
I like to offer free initial consultations because I believe it’s only fair to know what your options are before paying for legal representation. I meet with many people who would benefit from Chapter 7 Bankruptcy relief. The only problem …
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Posted by Ryan Blay on January 11th, 2013 in Bankruptcy, Bankruptcy Information, Illinois, Legal, Wisconsin
Most rulings come from state courts, not from federal courts. State courts hear all sorts of claims, from criminal claims to civil claims to foreclosures in “equity”. We don’t always like the outcomes, and occasionally judges do make errors in …
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Posted by Ryan Blay on December 13th, 2012 in Bankruptcy, Bankruptcy Information, Chapter 13, Illinois, Wisconsin
Suppose you file a Chapter 13 Bankruptcy and list all of the creditors you can think of. All is well and good and the judges confirms (approves and signs) the plan to pay the creditors. But little did you know …
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Posted by paperstreet on December 6th, 2012 in Bankruptcy Information, Illinois
I am pleased to announce the upcoming CLE event, Advanced Asset Protection Planning produced by the Illinois Institute for Continuing Legal Education (IICLE®). As you may be aware, I will also be serving as a faculty member for this program …
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Posted by Ryan Blay on November 9th, 2012 in Bankruptcy, Chapter 13, Foreclosure - Saving Your Home, Mortgage Foreclosure Defense, Mortgage Modifications
The Bankruptcy Court for the Eastern District of Wisconsin created the MMM (mortgage modification mediation) program about a year and a half ago to help make modifications in Chapter 13s easier. So far, it has had quite a few success …
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Posted by Ryan Blay on November 5th, 2012 in Bankruptcy, Chapter 13
In a Chapter 13, most of our clients have two options in making the Chapter 13 plan payments to the Trustee: Payment through a payroll deduction, or payments by certified funds sent monthly. Each works well, but neither is as …
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Posted by Ryan Blay on October 29th, 2012 in Bankruptcy, Chapter 13, Chapter 7
Every bankruptcy case requires a filing fee. As mentioned last week, the filing fee for Chapter 11 bankruptcies is set to increase in November. Chapter 7 filing fees are currently $306, and Chapter 13 filing fees are $281. In nearly …
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Posted by Ryan Blay on October 24th, 2012 in Bankruptcy, Chapter 11, Chapter 13, Chapter 7
With October turning into November, we see new changes on the horizon in bankruptcy. For one, the Temporary Bankruptcy Judgeships Extension Act of 2012 requires an increase to the filing fees for Chapter 11 cases beginning on November 21. …
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Posted by Ryan Blay on September 12th, 2012 in Bankruptcy, Chapter 13, Wisconsin
“Defer no time, delays have dangerous ends.” - William Shakespeare Supreme Court and lower court decisions in recent years (including the United States Aid Funds Inc. v. Espinosa decision) have repeatedly emphasized the need for creditors to object to Chapter 13 …
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Posted by Ryan Blay on August 27th, 2012 in Chapter 7, Wisconsin
A husband and wife file for bankruptcy. They prepare a list of creditors and receive a discharge in bankruptcy. That discharge means that those debts listed are forever gone, unless the debtors chose to “reaffirm” the debt. That is good …
READ MOREIllinois Lawyer David P. Leibowitz handles business law, estate planning, probate, asset
protection, consumer bankruptcy, business bankruptcy, real estate, elder law, guardianships, identity theft, consumer protection, commercial collections and foreclosure defense matters from Chicago to Milwaukee with offices in Chicago, Skokie, Waukegan, Milwaukee and Kenosha.
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