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Illinois Bankruptcy Questions & Answers
2 Answers | Asked in Bankruptcy for Illinois on
Q: How many years do I have to wait until I can file Bankruptcy again?
Eric M Wiechert
Eric M Wiechert
answered on May 26, 2011

Under the 2005 amendments to the bankruptcy code, a person can't obtain a bankruptcy discharge within eight years of their last bankruptcy discharge. A Ch. 13 can be filed, or a Ch 7 case can be converted to a Ch. 13, if the plan payments will conclude outside the eight year window between... View More

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2 Answers | Asked in Bankruptcy for Illinois on
Q: If a company owes you commission and they file Bankruptcy How do you collect or make a claim?
Andrew John Hawes
Andrew John Hawes
answered on Apr 20, 2011

Need more information. What type of bankruptcy, what is the commission for, how much is it for, etc.?

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1 Answer | Asked in Bankruptcy for Illinois on
Q: Can I file for bankruptcy only on credit cards that I owe on? Or, do I have to do so on all my credit card accounts?
Andrew John Hawes
Andrew John Hawes
answered on Mar 13, 2011

Technically, you only have to disclose actual debts that you have as of the date of filing of the bankruptcy petition. So, if you have a credit card with a zero balance on the day you file for bankruptcy, you don't have to list it on your schedule. Whether or not you'll actually be able... View More

2 Answers | Asked in Bankruptcy for Illinois on
Q: If I file bankrupcy and choose to surrender property how long does it take for bank to take possesion. I am in IL?
Andrew John Hawes
Andrew John Hawes
answered on Mar 13, 2011

This may not be a satisfying answer, but here it is: it depends. I can tell you that if you file bankruptcy, immediately it will create the "automatic stay." This prevents creditors from being able to take any action against your property without the bankruptcy court's approval.... View More

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3 Answers | Asked in Bankruptcy for Illinois on
Q: If you file bankruptcy, does a list get sent out to all the surrounding banks, etc?
Erin Gallivan
Erin Gallivan
answered on Jan 21, 2011

Notification of the bankruptcy filing only gets sent to creditors or other relevant parties. There is no list sent out to all banks.

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2 Answers | Asked in Bankruptcy for Illinois on
Q: Do I need a Bankruptcy Lawyer?

I had a real estate business which was dissolved by the state. I had a business loan of $ 100,000 I filled for bankruptcy as a person and my debt was discharged. I still receive letters from the bank and from attorneys. Should I fill for bankruptcy or should I just apply for a voluntary dissolution... View More

Eric M Wiechert
Eric M Wiechert
answered on Dec 6, 2010

You probably want to talk to the attorney that help with the bk petition. Likely there is a security agreement in place. If these are unsecured prepetition contingent claims they were discharged by the bk provided that the creditors had notice of the discharge and their claims were scheduled.

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