Blog Posts in July, 2011
Posted on Jul 29, 2011 By biz
An important step in filing for Chapter 11 bankruptcy is having your reorganization plan approved by a bankruptcy trustee, which did not happen in a case involving a small business this month. After ...
Continue reading "Small Business Owner's Chapter 11 Reorganization Plan Rejected" »
Posted on Jul 28, 2011 By Bizar & Doyle, LLC
Are you considering filing for Chapter 7 bankruptcy but wondering what happens to any debts incurred after your filing? In general, your post-petition debts will not be covered by your Chapter 7 ...
Continue reading "Chapter 7 and Post-Petition Debt" »
Posted on Jul 27, 2011 By Bizar & Doyle, LLC
When you decide to file for bankruptcy , the last thing you want to worry about is incurring even more debt in the process. While filing for bankruptcy is not free, it doesn't have to be as costly ...
Continue reading "The Fees Associated with Consumer Bankruptcy" »
Posted on Jul 26, 2011 By Bizar & Doyle, LLC
If you are having difficulty paying bills on time, you are not the only one. Recent studies show that one out of every 177 people in Illinois have filed for bankruptcy in the last year alone, ...
Continue reading "73,000 People Filed for Bankruptcy in Illinois This Past Year" »
Posted on Jul 25, 2011 By Bizar & Doyle, LLC
It seems that no business is immune from the lagging economy, even an organization known for a lifetime of solid news reporting. One well-known newspaper, under the Chapter 11 bankruptcy of its parent ...
Continue reading "Newspaper Resorts to Layoffs Amidst Business Bankruptcy" »
Posted on Jul 22, 2011 By Bizar & Doyle, LLC
Despite all of his successes over the past years, one singer has been informed that his property may be up for foreclosure in the near future. After reviewing their records, a bank claims that the ...
Continue reading "Singer Faces Foreclosure of Chicago Property" »
Posted on Jul 21, 2011 By Bizar & Doyle, LLC
Not only does one diocese have to worry about their upcoming bankruptcy , but they also have sex abuse claims that must be factored in to the final amount of monies due. A press release was issued by ...
Continue reading "Diocese Addresses Bankruptcy and Sex Abuse Claims" »
Posted on Jul 20, 2011 By Bizar & Doyle, LLC
As the largest and longest business bankruptcy in history, it comes as no surprise that the company facing Chapter 11 has hit another bump in the road. According to a new statement released this week, ...
Continue reading "Longest Business Bankruptcy Drags On" »
Posted on Jul 19, 2011 By Bizar & Doyle, LLC
The taxpayers of a city are wondering how a police chief who, with her husband, earns $200,000 annually, could possibly be broke. Yet that is exactly what the couple is claiming as they announced the ...
Continue reading "Local Police Chief Files for Chapter 7 Bankruptcy" »
Posted on Jul 18, 2011 By Bizar & Doyle, LLC
Even though a leading car manufacturer filed for bankruptcy in 2009, there are still many financial and legal issues that the company has to contend with. After working with the Illinois Attorney ...
Continue reading "Car Manufacturer Facing Legal Challenges during Bankruptcy" »
Posted on Jul 18, 2011 By Bizar & Doyle, LLC
A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. Additionally, ...
Continue reading "How Does A Bankruptcy Affect My Eligibility For An FHA Mortgage?" »
Posted on Jul 15, 2011 By Bizar & Doyle, LLC
Even though Sharper Image stores across the country closed their doors a good three years ago, consumers who have old gift cards may finally be able to redeem them. A class action attorney in Chicago ...
Continue reading "Consumers Can Finally Redeem Gift Cards from Sharper Image Post Bankruptcy" »
Posted on Jul 14, 2011 By Bizar & Doyle, LLC
Three more banks been closed across the country, bringing the total number to 51 in this year alone. Even though the First Chicago Bank & Trust of Chicago reportedly holds over $960 million in ...
Continue reading "Several More Banks Face Foreclosure in America" »
Posted on Jul 13, 2011 By Bizar & Doyle, LLC
Are you in a financial crisis? If so, you may already be contemplating Chapter 7 bankruptcy . However, when you have decided to take control of your finances, there are several requirements you must ...
Continue reading "90 Days Before Filing for Chapter 7" »
Posted on Jul 12, 2011 By Bizar & Doyle, LLC
Another company in Chicago finds itself filing for Chapter 11 bankruptcy and has recently gained approval of its liquidation plan. River Road Hotel Partners Inc. filed for Chapter 11 bankruptcy when ...
Continue reading "River Road Hotel Partners Inc. Seeks Bankruptcy Protection" »
Posted on Jul 11, 2011 By Bizar & Doyle, LLC
After years of escalating bankruptcy rates, it appears as though the American population is experiencing some relief. A report released by Epiq Systems reveals that while 120,623 bankruptcies were ...
Continue reading "120,623 Filed in June in the U.S." »
Posted on Jul 8, 2011 By Bizar & Doyle, LLC
If you are like many Americans right now, you are considering bankruptcy as an option to save your home from foreclosure . If that is the case, you may need to eliminate second mortgage payments in ...
Continue reading "Eliminating Second Mortgage Payments" »
Posted on Jul 7, 2011 By Bizar & Doyle, LLC
You may have heard about certain types of bankruptcy that let you discharge your debts. This is true for individuals, but for businesses, it is rare. If you file your business as a corporation you ...
Continue reading "Discharging Debt and Business Bankruptcies" »
Posted on Jul 6, 2011 By Bizar & Doyle, LLC
In an attempt to speed up the process, U.S. Bankruptcy Judge Kevin Carey has asked all of the parties involved in the Tribune Co. case to stop their fighting. However, the judge went on to say that he ...
Continue reading "Judge Asks Parties Involved in Tribune Bankruptcy to Stop Conflicts" »
Posted on Jul 5, 2011 By Bizar & Doyle, LLC
The largest bankruptcy case in history is making great strides towards its resolution. According to a press release issued by the Lehman Brothers Holdings Inc. this week, the company has filed a new ...
Continue reading "Infamous Bankruptcy Case Close to Resolution" »
Posted on Jul 4, 2011 By Bizar & Doyle, LLC
If you are like millions of Americans, you have serious credit card debt. While it can be overwhelming to imagine paying off all of your debt at once, there are ways to whittle down your debts by ...
Continue reading "Whittling Down Credit Card Debt" »
Posted on Jul 1, 2011 By Bizar & Doyle, LLC
It is understandable that you are nervous about filing for bankruptcy. It is a big deal! That is why you need to be absolutely sure that this is the best financial avenue for you to take before filing ...
Continue reading "Voluntary and Involuntary Bankruptcy" »