Leeders Law

Leeders Law Profile Picture

I offer One on One Personal service to consumers and small businesses who are seeking bankruptcy assistance to file Chapter 7 and Chapter 13 Bankruptcy cases in the Chicago area. I've been focused on bankruptcy for the last 18 years, so I can lead you to financial freedom. Call now for a free consultation. I am a debt relief agency, and help people file for bankruptcy protection under the US Bankruptcy Code.

Proud Member of the Better Business Bureau, American Bankruptcy Institute, Chicago Bar Association and Illinois State Bar Association.

Office locations:

Chicago: 205 W. Randolph Ste. Suite 1401, Chicago, IL 60606

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

Schaumburg: 1930 Thoreau Dr. Schaumburg, IL 60173

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

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

Practice Area(s):

Contact Information

Leeders Law
205 W. Randolph St. Suite 1401
Chicago, IL 60606
Phone: 312-346-7400
Website: www.leederslaw.com
Website 2: www.chicagobankruptcynetwork.com

Leeders Law Profiles

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Recent Articles by Leeders Law

Chicago Bankruptcy Blog

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.


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.

'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'

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