While Zillow is a good starting place to determine approximate value for your home when filing for bankruptcy, A better option would be a CMA -a comparable market analysis, or even better yet, a full blown appraisal.   When you are close whether your exemption covers the equity in your home, it's best to be certain as to value to avoid liquidation issues with a chapter 7 bankruptcy case.

http://www.abajournal.com/news/article/federal_judge_tosses_suit_claiming_zillow_zestimates_are_illegal_appraisals

You will not get your car back by filing chapter 13 bankruptcy if the City seized your vehicle for unpaid tickets

Bad news for debtors. 

A recent ruling by Judge Cassling in Chicago, clarifies provisions of the automatic stay in regards to returns of vehicles that were taken pre-bankruptcy filing.  

Bankruptcy Caption: In re Bianca L. Avila
Bankruptcy No: 17 B 00870

In this case, the city of Chicago seized the debtor's vehicle prior to her filing a chapter 13 bankruptcy case.   She sought to have the court order the creditor to return the vehicle because of her chapter 13 bankruptcy case. 

Judge Cassling ruled that the exception to the automatic stay carved out by 11 U.S.C. § 362(b)(3), which reads  “does not operate as a stay—under subsection (a) of this section, of any act to perfect, or to maintain or continue the perfection of, an interest in property to the extent that the trustee’s rights and powers are subject to such perfection under section 546(b) of this title….”

Therefore, since the city has a possessory lien on the vehicle which was perfected when they seized the vehicle, they are allowed to retain that lien and not be in violation of the automatic stay. 

This differs from case law that requires a secured creditor, such as a car finance company, since their lien was not statutory, merely consensual (thru contract recorded against the title) to give back a vehicle upon filing of the chapter 13 bankruptcy.    

Golfsmith Files for Chapter 11 protection due to golf's popularity on the downslide

Was it because the masses don't want to emulate the fallen star Tiger Woods?  He was often injured and his star tarnished with his off the course escapades.    Or was it the economy?  Golf is not a cheap sport.  Greens fees, cart rental, buying golf clubs, golf glove, spikes, tees, and the countless golf balls, oh the lost balls.  These all may have been factors leading to the chapter 11.

Golfsmith Files Bankruptcy With Sport’s Popularity Fading - Bloomberg:

'via Blog this'

Creditor Can't Claim Piece of NHL Star's Contract | Bloomberg BNA

Chapter 11 Bankruptcy case.  Debtor, Jack Johnson (NHL'er) had assigned some of his income payments to creditor. Court rules that it was not a valid assignment and struck down under 11 USC sec 552.







Creditor Can't Claim Piece of NHL Star's Contract | Bloomberg BNA:



'via Blog this'

Burr Ridge Bankruptcy lawyer new office location - free consultation for chapter 7 and chapter 13 bankruptcy

I am now scheduling appointments for people looking to file chapter 7 or chapter 13 bankruptcy at our newest location in Burr Ridge, IL , serving the Western and Southwestern suburbs and South part of Chicago.

Burr Ridge
1333 Burr Ridge Parkway, Suite 200
Burr Ridge, IL 60527



 We are located in the Chicago suburbs with easy access from I-55, I-355, and I-294 about 20 miles from Downtown Chicago

Office hours are by appointment.   Feel free to call me for a free mini phone consult regarding bankruptcy at 312-346-7400.

Schedule a free consultation with a bankruptcy lawyer at our Burr Ridge office or any of our other locations today to discuss Chapter 7 and Chapter 13 Bankruptcy.

Orland Park Bankruptcy lawyer - new office, free consultations

I am now scheduling appointments for people looking to file bankruptcy at our newest location in Orland Park, serving the South and Southwestern suburbs and South part of Chicago.

Orland Park
15255 S 94th Avenue, 5th Floor
Orland Park, IL 60462


We are located in the Chicago suburbs, about 25 miles from Downtown Chicago in the I-80 corridor.
We are easily accessible from I-55, I-294, I-80, I-57, and I-355.   Our building is the tallest in the south suburbs, so it is easy to find!

Office hours are by appointment.   Feel free to call me for a free mini phone consult regarding bankruptcy at 312-346-7400.

Schedule a free consultation with a bankruptcy lawyer at our Orland Park office or any of our other locations, today to discuss Chapter 7 and Chapter 13 Bankruptcy.

New Hyde Park bankrutpcy office for free bankruptcy consultations with a Chicago bankruptcy lawyer

I am now scheduling appointments for chapter 7 and chapter 13 bankruptcy filers at our newest Chicago location.

Hyde Park, Chicago
5113 S Harper, Suite 2C, Chicago, IL 60615


Located on Chicago's South Side, Hyde Park is one of the city's most diverse and unique neighborhoods.   Home to the University of Chicago, and just a short walk from the gorgeous Lake Michigan lakefront.

We are located just off of Lake Shore Drive, our office is close to the Metra Station and not far from the Green Line, so if you don't want to come into the Loop for your free bankruptcy consultation, Hyde Park is a perfect location to meet with me.

Office hours are by appointment.   Feel free to call me for a free mini phone consult for bankruptcy at 312-346-7400.
Schedule a free consultation with a bankruptcy lawyer at our Hyde Park Office or any of our other locations, today.

Get your car back if it was repossessed, or booted or towed for tickets

Did you know?

In Chicago, I can get a car back by filing a chapter 13 bankruptcy case.  If it was taken by your lender or if the city took it for too many unpaid parking tickets, I can help.

Chapter 13 is a repayment plan.  You can pay back a portion of your debts (based on your income and assets) over a 3-5 year time frame.  You are able to get your vehicle back if a chapter 13 is filed quick enough,  Usually it must be filed within 21 days of the vehicle being taken.

Work on your budget, it is the most important thing you can do to make your chapter 13 successful.

Contact me and I can assist!

Gov. Rauner: Bankruptcy for CPS Might Be ‘Best Option’

Is Bankruptcy right for the Chicago Public Schools?   Governor Rauner thinks it could, despite what the experts and history say.





Gov. Rauner: Bankruptcy for CPS Might Be ‘Best Option’: Gov. Bruce Rauner renews talk of possible bankruptcy for Chicago Public Schools. How would it work? That and more in a rare one-on-one interview with the governor.

It's OK to run up debt on credit cards.........

Goes against common thought, but it is a well reasoned article. The The key here is that study is looking forward at future lifestyle, not the present tough situation. A better job will benefit the individual more in the long run, so it's ok to run up a bit of debt in the short term while searching for the better job ....(BUT ONLY ON NECESSITIES!! Not luxury items!!) contact me atwww.leederslaw.com for more discussion.


http://bloom.bg/1s7FVKp
The One Time It's OK to Pile Up Credit-Card Debt
By Ben Steverman

Bloomberg