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Proration of chicago water bill

proration of chicago water bill.  You can prorate a chicago water bill.  To prorate simply request the prior years full bill which is two six month bills. Then divide the total year bill by 360 to get the per day cost.  Then count the days from when the last bill was issued.  Use following equation to caluculate the credit that should be given to buyer at closing

X = number of days since last bill issued

Y= the cost per day for water 

Z= the amount of credit given to buyer at closing

Equation

(X)(Y)=z

Example

Sellers received a water bill for $318 dated February 8, 2014 and another water bill for $324 dated August 18,2014.  Sellers have signed a contract to sell the home to buyers closing on January 31 2015.

To determine coat of water per day, add the two water bills issued in 2014 for 2014 water cost and the. Divide by 360

(318 + 324)/360 =1.783

To find out credit that should be issued to buyer calculate where 134 is the number of days since last bill in August through date of closing

(134)(1.783)=238.92

The credit at closing will be $238.92

When should I convert my chapter 13 bankruptcy to a chapter 7

When should I convert my chapter 13 bankruptcy to a chapter 7?  Loss of employment loss of income plan is no longer feasible. You no longer need save your home or cars.

Section 348 of the bankruptcy code says that the qualification for a chapter 7 discharge is the petition date and not the conversion date. Therefore if you didn’t qualify for a chapter 7 filing on the date your chapter 13 is filed you cannot convert to a 7

However if it has been at least 8 years since you filed your prior chapter 7 you can dismiss your chapter 13 and then filed a brand new chapter 7

Examples

Mindy filed a chapter 7 bankruptcy on August 1 2007.  The case was discharged on February 1 2008 and was closed the same day.  Mindy filed her present chapter 13 case on August 5, 2011.  On August 2 2013 Mindy filed a motion to convert her case to a chapter 7.  The case cannot be converted to a chapter 7 because Mindy did not qualify for a chapter 7 discharge on the date of her chapter 13 filing.  Mindy can however dismiss her chapter 13 on August 2 2013 and filed a new chapter 7 on August 3 2013.

How to Reinstate Suspended License in Illinois with Debt Relief through Bankruptcy

How to Reinstate Suspended License in Illinois with Debt Relief through Bankruptcy

Many people don’t know this, but you can reinstate your driver’s license using debt relief through bankruptcy.  Filing either a Chapter 7 or Chapter 13 bankruptcy allows the debtor to go into a Driver’s Service Center and fill out an application to reinstate the driver’s license.  The cost is $72 (as amended).  Many people have suspended driver’s licenses because of unpaid parking tickets, unpaid penalties, unpaid judgments that involve a driving related incident such as personal injury or damage to another motor vehicle.

How to Reinstate Suspended License in Illinois with Debt Relief through Chapter 7 Bankruptcy

If you file a Chapter 7 Bankruptcy you should be able to apply for a reinstatement of your driver’s license within 7 days of the filing.  You must notice the Secretary of State, Driver’s Services Division in Springfield to ensure that notice has been received by the Secretary of State.  Once the Secretary of State receives the bankruptcy notice, they flag it in their system.  This flag allows you to file your application to reinstate your driver’s license.  The typical cost for reinstating your license is $72 and can be applied for at any Driver’s Services Facilities.  The actual penalty such as a parking ticket or other levied fine or penalty may not be discharged in the bankruptcy, but the filing of the bankruptcy typically allows for reasonable payment plans to be set up.  In the case of the City of Chicago, oftentimes, payment plans are not offered in a reasonable or affordable fashion without the bankruptcy filing.  In the case of a personal injury judgment or judgement based upon damage to property or another automobile, this type of debt is typically discharged and is eliminated as a personal liability and no longer will cause your driver’s license to be suspended.

How to Reinstate Suspended License in Illinois with Debt Relief through Chapter 13 Bankruptcy

if you file a Chapter 13 Bankruptcy you should be able to apply for a reinstatement of your driver’s license within 7 days of the filing.  Just as with a Chapter 7 Bankruptcy, you must notice the Secretary of State, Driver’s Services Division in Springfield to ensure that notice has been received by the Secretary of State.  Once the Secretary of State receives the bankruptcy notice, they flag it in their system.  This flag allows you to file your application to reinstate your driver’s license.  The typical cost for reinstating your license is $72 and can be applied for at any Driver’s Services Facilities.   The actual fine, penalty or liability is discharged.  This is a big difference with Chapter 7.  Typically, a debtor will pay only 10 cents on the dollar for the unpaid parking tickets or other type of fine or levy.  Also, as with a Chapter 7, the judgement due to personal injury or damage to property is discharged.  Chapter 13 is only referred to as the “total solution” for parking tickets and is used extensively by taxi cab operators, Uber and Lyft Drivers and others to eliminate substantial parking ticket liability.

Attention Attorneys ! The ARDC can copy your Blog for attorney discipline investigations.

Attention Attorneys ! The ARDC can copy your Blog for attorney discipline investigations.  It’s not copyright infringement when the ARDC copies your blog for disciplinary proceeding  Denison v. Larkin (N.D. Ill., 20  (click this link to read case).

 

 

Tax Refund Language Chapter 13 Plan Comparing Trustee Requirements

Tom Vaughn Language

Debtor(s) shall submit a copy of their tax returns to the Trustee each year no later than June 30th.  The debtor(s) shall tender to the Trustee the amount of the any tax refund in excess of $1200.00 each year within 7 days of receipt of the tax refund.  Refunds must be received by the Trustee by June 30th of each year.

Marilyn O. Marshall Language

The Debtor’s Plan is hereby amended to provide that all unsecured claims filed after the applicable claim bar date are classified to be paid a dividend of 0%.

 The Debtor’s Plan is amended to add the following language to Paragraph D1: On or before April 20th of the year following the filing of the case and each year thereafter, the Debtor(s) shall submit a copy of the prior year’s filed federal tax return to the Chapter 13 Trustee.  The Debtor(s) shall also tender the full amount of each year’s federal tax refund, received while the case is pending to the Chapter 13 Trustee.  The tax refunds shall be treated as additional payments into the plan and must be submitted within 7 days of receipt of each of such refunds by the Debtor(s)

 Glenn Sterns Language

Section D 1 of debtor’s plan is hereby modified as follows:  In addition to making the regular monthly plan payments required under section D 1, debtor shall submit their tax refunds each year as additional plan payments.  Tax refunds submitted by the debtor increase the amount the debtor is required to pay into the plan dollar for dollar.  Debtor shall provide copies of their tax returns to the trustee no later than April 30 each year and shall submit their tax refund to the trustee within fifteen days of receipt.

 Lydia S. Meyer Language

The debtor(s) shall file with the Trustee a copy of his/her/their  complete tax return on or before May 15 of each year.  Notwithstanding any provisions of the debtor(s)’ Chapter 13 Plan to the contrary, the
debtor(s) shall pay all tax refunds above $2,000 per year into the plan in addition to the base. The base shall be automatically increased by said amount without motion, hearing or court order after the Trustee’s office has received a copy of the debtor(s)’ tax return.  The Chapter 13 Plan is hereby deemed amended accordingly.

Sheboygan Lodging

  1. Blue Harbor Resort (Nearby, Pool, Waterpark, Lake Views and Beach)blueharborresort.com/
  2. Harbor Winds (Nearby, Basic, No Pool)harborwindshotelsheboygan.magnusonhotels.com/
  3. Lakeview Mansion Bed & Breakfast (Nearby, Historic, Great Views of Lake)www.lakeviewmansion.com
  4. Econolodge (Formerly Executive Inn)  (Nearby, Economy, Vacancy)www.econolodge.com/hotel-sheboyganwisconsin-WI240
  5.  Grandstay Residential Suites (Nearby, Nice)
    www.grandstayhospitality.com
  6. Fountain Park Best Western (Nearby, OK, good restaurant for breakfast)www.fountainparkmotel.com/
  7. Americann Inn (Pool)  Westside (good, pool, 10 minutes)     www.americinn.com/Hotels/WI/Sheboygan
  8. Holiday Inn Express (Pool)  Westside  (good, pool, 10 minutes)www.hiexpress.com/Sheboygan
  9. Sleep Inn Southside (good, pool, 10 minutes)www.sleepinn.com/hotel-sheboyganwisconsin-WI100
  10. Kohler’s American Club (A luxury experience, 15 minutes from event)www.americanclubresort.com/
  11. Kohler’s Suites on Woodlake  (A down home luxury experience, 15 minutes from event)www.americanclubresort.com/lodging/inn-on-woodlake
  12. The Osthoff (Elkhart Lake, WI; The Ultimate Way to Spend Labor Day)  Vacancy limited.  30 minutes out .     www.osthoff.com/

 

Recommendations:

Blue Harbor

  1. Close By and Nice
    1. Blue Harbor (Top Choice)
    2. Harbor Winds (Great Location, Basic, Right on the Riverwalk)
    3. Lakeview Mansion (Outstanding and Luxury – limited availability but Adults Only)
    4. Grandstay (Good location, see website for details)
    5. Americinn (West 10 minutes out)
    6. Sleep Inn (South 10 minutes out)
    7. Holiday Inn Express (check on pool, west, 10 minutes out)
  2. Best Luxury Choices
    1. American Club ($300+ per night but outstanding)
    2. Osthoff Resort (Hard to get into on Labor Day and 30 minutes out)
    3. Woodlake Suites ($200 per night – low key and nice)
  3. Back Up’s
    1. Fountain Park Inn (Clean and Basic)
    2. Econolodge Downtown – (Basic and No Rating)

Does Automatic Stay Stop Eviction

Does Automatic Stay Stop Eviction.  YES  Can a Landlord evict his tenant after the tenant files a Bankruptcy.  YES.  However, the Landlord needs be exceptionally careful.   Under Section 362 of the Bankruptcy Code, the Tenant’s lease of the premises is cover by the Bankruptcy Automatic Stay.  This is a global stay on all activity of the Bankruptcy Debtor (our tenant).  To get relief from the automatic stay and be able to proceed with the eviction requires the landlord to either wait for the debtor file his statement of intention of either assuming or rejecting the lease.  The  Debtor (tenant) has 30 days from the filing of the petition to file his statement of intention.  To obtain this statement of intention soon and force the debtor (tenant) to either assume or reject the tenancy, the landlord should proceed with a motion under Section 365(d) of the bankruptcy code to obtain an order of the court requiring debtor to file his statement of intention by a certain date.  If the lease is rejected under Section 365(a), it is no longer part of the bankruptcy estate and landlord can immediately start eviction process.  The eviction should seek past due rent and money damages from the date of bankruptcy filing forward into the future along with expenses post petition.  The past due rent and expenses incurred prior to the petition date should be either a claim in that bankruptcy or if a no-asset case, these claims will be discharged in the bankruptcy.

What to do if the debtor has assumed the lease but is not paying.  At this point, this would require a motion for relief from the stay for inadequate protection.

A landlord of the debtor is attempting to terminate debtor’s leasehold for nonpayment of rent but has failed to do so at the time of filing. The automatic stay of section 362(a)(3) applies either on the theory that the leasehold interest is property of the estate or on the theory that the leased premises are property in the possession of the estate. The landlord should proceed under section 365(d)(2) by asking the court to order the debtor to assume or reject the lease within a specific period of time. If the property is nonresidential real estate as to which the debtor is the lessee, section 365(d)(4) will apply rather than section 365(d)(2). Colliers Section 38.02[2] …

Obviously, when a lease is rejected under section 365(a), the landlord should not be put to the additional expense of then seeking relief under section 362(d) to be able to re-enter the premises. Colliers 38.02 [3]

Chapter 7 debtor needs to file statement of intention under Section 521 of the code within 30 days of filing the petition, Bankruptcy Code Section 521.

Opinion:

Debtor must file statement of intention with regard to the lease within 30 days of the filing of the Chapter 7 Petition, Section 521 Bankruptcy Code. If debtor does not file statement of intention with regard to the lease within 30 days, The landlord should proceed under section 365(d)(2) by asking the court to order the debtor to assume or reject the lease within a specific period of time. As a practical matter, this motion should be filed immediately after the filing of the petition to ensure that an order of the court is issued requesting dismissal of the Chapter 7 case if this statement of intention isn’t filed timely or requesting that debtor assume or reject sooner than 30 days.

Pre-Petition Eviction Case is stayed as a practical matter until the statement of intention is filed. If Debtor does not vacate the premises after statement of intention is filed timely or pursuant to order, nothing should stop the state court proceeding for forcible entry and detainer for possession only. There can be no money damages for past due rent or expenses prior to the date of filing of the bankruptcy. However, a claim for past due rent and other damages can be made for post-petition rent and expenses.

ABA 2013 Attorney Job Outlook Article – 57% are hired

ABA 2013 Attorney Job Outlook Article – 57% are hired.

The job outlook for newly minted lawyers remains bleak, new figures show.

Fifty-seven percent of all 2013 law school graduates were employed in full-time, long-term legal jobs requiring bar passage as of Feb. 15, according to data released Wednesday by the ABA Section of Legal Education and Admissions to the Bar.

Still, that’s up slightly from last year, when 56.2 percent of all 2012 law school graduates were reported to be in full-time, long-term legal jobs requiring a law license nine months after graduation.

Another 10.1 percent of all 2013 graduates were employed in long-term, full-time jobs in which a law degree is preferred, which was also up slightly from the class of 2012, when 9.5 percent of all graduates held such jobs.

However, the percentage of 2013 graduates reported as unemployed and seeking work also rose slightly to 11.2 percent this year from last year, when 10.6 percent of 2012 graduates were reported as unemployed and seeking work.

The percentage of positions funded by law schools also increased incrementally this year from last year, from 3.9 percent for all 2012 graduates to 4 percent for the class of 2013.

Last year’s graduating class of 46,776 students was also the largest ever, up 412 students from the 46,364 students in the graduating class of 2012.

Law schools reported employment outcomes for 97.7 percent of their 2013 graduates, which was also up slightly from the 97.4 percent reporting rate for the class of 2012.

Other employment data reported to the section by schools indicates:

• While the percentage of law firm positions increased only marginally, hiring at law firms of 500 or more lawyers rose by nearly 10 percent, from 3,643 for the class of 2012 to 3,989 for the class of 2013.

• The percentage of graduates employed in business and industry rose to 15.2 percent for the class of 2013 from 14.9 percent for the class of 2012

• The percentage of graduates employed in government positions increased to 10.6 percent from 10 percent, while the percentage of graduates employed in public interest positions dropped from 5.9 percent to 4.8 percent. Those changes are due at least in part to a change in the classification for public defender positions, which are now classified as government jobs, not public interest jobs as they were previously.

Parking Tickets Dischargeable Bankruptcy

Parking Tickets Dischargeable Bankruptcy

Parking Tickets are a crime, fine or penalty as defined under the bankruptcy code.  They are not dischargeable in a Chapter 7 Bankruptcy.  Usually the filing of a Chapter 7 Bankruptcy forces the City of Chicago or other Illinois Municipality to offer a payment plan.  What is less clear is whether the suspended license will be immediately  re-instated based upon the Chapter 7 Filing.  Usually, the re-instated driver’s license is only allowed after the discharge is granted, the payment plan is in effect and payments are being made or the entire balance of the parking tickets is paid. Therefore, Chapter 7 is a great way to get rid of debt without any repayment, but not such a great way to deal with a parking ticket problem and absolutely not a great way to get your license back quickly.

Parking Tickets are dischargeable in Chapter 13 Bankruptcy.  Typically debtors will pay back as little as 10% of the total balance.  This is not always the case, but is true in a large portion of cases.  Upon the filing of the Chapter 13 Bankruptcy, the debtor with a suspended driver’s license can immediately apply for re-instatement of the suspended driver’s license and can expect to be behind the wheel in as little as a week.  Chapter 13 is also popular for people who only have enough money for the filing fee ($281) and need to stop garnishments, home foreclosure and car repossessions.

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Chapter 7 versus Chapter 13 Bankruptcy 2014

Chapter 7 Versus Chapter 13 Bankruptcy 2014

During Tax Season 2014 (2013 Taxes); many people consider a Chapter 7 Bankruptcy because they hope they will have enough money from their tax refund to afford the filing of the Chapter 7.  The assumption is that all of the debt will be wiped out and their family will have a much better future with lower expenses.  This is generally true.  However, the farther you move away from simple credit card debt and add in the issues of car loans, home mortgages and unpaid taxes and the answer is less clear.

First the up front costs – since the Chapter 13 Code allows attorney fees to be awarded through the Chapter 13 case, there is very little up front cost – usually the filing fee ($281).  Second, Chapter 13 allows a debtor to not only keep their car, but get caught up on past due payments.  Thirdly  Chapter 13 is the original way to get caught up on a home mortgage.  Lastly,  if you have parking ticket, fines or unpaid tax issues, Chapter 13 provides a smooth way to fix these issues.

Chapter 7 is often preferred because no debt is paid back.  This is often most helpful where the debt is primarily credit cards and types of unsecured debt.  Chapter 7 also is a simpler process and generally takes only 5 months to administer from filing to finish.  All attorney fees and filing fees must be paid prior to filing – this is one of the biggest challenges to filers.  Occasionally, debtors are allowed to pay their fees one or two months after filing using a special client representation agreement – however, this agreement has a dark side – if you do not pay, your attorney does not need to represent you after the case is filed oftentimes resulting in your case being dismissed.

Below is a quick summary of the differences between Chapter 7 and Chapter 13.

Bankruptcy Action Chapter 7 Chapter 13
Can Get Caught Up on Car Payments x
Can Get Caught Up on Home Mortgage Payments x
Can Lower Car Loan Interest Rate x
Can Lengthen Car Loan Term x
Can Discharge Parking Tickets x
Can Keep Car Through Reaffirmation x
Can Keep Home Through Reaffirmation x
Retirement Assets are Exempt x x
No Repayment of Any Unsecured Debt x
Takes 5 months to complete bankruptcy x
Tax Liability Can be Discharged x x
Priority Taxes (Non- [Read more…]
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