My law firm is focused on providing high quality legal representation in the areas of debt relief through bankruptcy for primarily consumers and small businesses. An additional focus is providing legal representation to real estate purchasers and sellers. We also focus on probate matters in Cook County.
My firm was founded in 2002. Originally, my firm focused primarily on probate matters and real estate transactions. Bankruptcy was always a part of my practice but became a larger part of the practice after 2006. My firm was originally a sole proprietorship doing business under the name of Nelson Law Office. In 2006, I incorporated my practice and named it the Law Offices of David C. Nelson, Ltd. In 2008, to shorten our name and make it easier to recognize, my firm started doing business under the name NLO Nelson Law Office.
Typical Chapter 13 Case:
A typical Chapter 13 Bankruptcy case involves a married couple with 2 children who are $100,000 in credit card debt, have two automobile loans and are 12 months behind on both their first and second mortgages. In 2010 alone, I had more than five cases successfully confirmed with similar circumstances where the home mortgage was brought current, the second mortgage was stripped from the property and the credit card debt was paid at .10 to .50 cents on the dollar allowing the debtor/s to reorganize their finances in five years. Even in the most difficult cases, the usual upfront costs to the debtor were less than $1,600.
Typical Chapter 7 Case:
A typical Chapter 7 Bankruptcy case involves a single person who has $40,000 in credit card debt, a car loan this not current, a pending garnishment and at least two unsatisfied court judgments. Typically, a Chapter 7 debtor in 50% of the cases owns a home or has recently lost a home to foreclosure and is using the Chapter 7 Bankruptcy to eliminate a deficiency judgment of $100,000 or more. The income level of a Chapter 7 debtor is usually less than $74,000 with a family and less than $44,000 without a family. Even the most difficult Chapter 7 cases involving the surrender of businesses, investment property and huge unsecured debt typically have legal fees under $2,000.
Real Estate Law
Our firm is a strong supporter of legal representation of First Time Homebuyers. A typical first time homebuyer is purchasing a home in the City of Chicago with a closing cost grant of $5,000 and an FHA loan. The typical purchase price of this first time purchase is $200,000 or less. A majority of these purchases are for condominiums with the remainder being small single family homes. Occasionally a first time homebuyer will purchase a multi-unit building. Typical cost of a first time homebuyer closing is $450.
In 2007, I assisted a long time client's purchase of a defunct industrial property. The property had originally been a heavy industrial sight used to make metal cookware including a small foundry. The original industrial site had comprised several different parcels and had a rail terminal. I negotiated a contract for the purchase of two sections of the property for rehabilitation as warehouse usage. This transaction was successful, but had several challenges including $100,000 of underground storage tank removal and soil abatement along with an appeal to reduce the tax assessment on the property.
A recent client of my firm was an 89 year old who wanted to update her estate plan. In working with the client I learned that she owned farmland outside of Illinois and also had several bank accounts with a large amount of cash investments. The client was beginning to have difficulty managing her assets. After analyzing the situation I determined that a revocable trust was the best option for her needs and would allow her to avoid probate in a foreign state for the farmland. Unfortunately, the client did not fund the trust prior to her death and forced the probate of her entire estate. The probate estate is filed and moving along well, however, this is a good example of the challenges of estate planning with complex tools such as revocable trusts. The client needs to understand that certain upfront costs are necessary to reduce costs later on in the administration of the estate.
A recent client came into the office wanting to purchase a "Living Trust" estate plan. After meeting with the client we determined that she did not have any real estate outside Illinois and her total assets were below $100,000 and her life expectancy was another 30 years. Although she could go through with a revocable trust estate plan, at this point of life a will, power of attorney and other provisions was a less expensive, simpler and easier to maintain option.
In a recent probate case, the deceased did not have a will and came from a large family primarily located in Alabama and Mississippi. In this case, most of the children were born out of wedlock and in a few cases, some heirs simply were not known with certainty. In drafting the affidavit of heirship, my client who was one of the heirs of the estate had to procure birth certificates for all of the heirs to prove their paternity. In addition, it was required that the estate publish to unknown heirs. Bottom line - a will with clear beneficiaries designated might have saved almost $5,000 in attorney fees and several months of delay.
53 West Jackson Boulevard
Chicago IL 60604
Free Bankruptcy Consultation. For other matters, first time consultation is $30 regardless of time spent.
• First Time Homebuyer Purchase $450.
• Bankruptcy Consultation: Free.
• Any other matter first time consultation is a maximum of $30.
Monday through Friday
9:00 a.m. to 5:00 p.m.
I chose to work in these three primary areas of practice based upon my interests and things that I had enjoyed working on in prior legal employment. I especially enjoy my real estate and bankruptcy practice because there is lots of client contact and an opportunity to work with clients. Although, I enjoy legal research and writing and take great pride in my work, what I most enjoy with the advising of clients and understanding their concerns.
I support all clients who educate themselves about the law. When a client is educated about the legal issue they are seeking assistance with, it allows me as their attorney to communicate more effectively and provide legal advisement more efficiently.
I am always willing to review a document prepared by a client. In a case where a document needs to be amended, changed or re-drafted as a new document, the existing document provides improved guidance as to what the client wants.
Within the limits of the law, I am always willing to coach a client on how to represent themselves. Oftentimes in a bankruptcy case, the client will encounter issues where they may need to represent themselves at a foreclosure hearing, civil court hearing or secretary of state hearing where the bankruptcy has affected that hearing. Empowering a client to understand the law well enough to navigate a basic hearing is helpful to everyone including the court.
Prior to starting my firm, I was most recently employed by Trippe Manufacturing Company of Chicago. Prior to that I worked with several firms in the Chicago Area including International Insurance, Corgeis Insurance and Talegen. Shortly after graduating law school, I worked for the Law Firm of Dillman, Holbrook, Wurtz, Roth & Rostollan located in Sheboygan, Wisconsin. During law school, I worked for Betty, Neuman & McMahon of Davenport, Iowa, the Drake University Legal Clinic and was a Student Judicial Clerk for the Iowa Supreme Court.
My work experience at the Drake Legal Clinic fostered most of my interest in bankruptcy and advocating for debtors who were being crushed by debt. My first legal job out of law school at the Dillman Law Firm fostered my interest in small business real estate and family law. My education at the Drake University Law School focused on the conservative education areas of legal research and writing which has always made me fearless in researching and drafting new legal documents that I may not have worked with before. As the son of a Lutheran Minister, I learned that a career dedicated to helping others with complex problems can result in a satisfying career that produces great results for everyone.
My strengths are good communication, technical skills and legal knowledge. I am direct in my style and often described as a "law and order" sort of person by some of the housing association people that I work with.Personal interests:
Racing sailboats, music, and being in the outdoors.
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