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Blog Posts in September, 2011

Stopping Creditor Abuse

Are you in serious credit card debt? If so, you are likely to be receiving daily phone calls from creditors and debt collection companies. Believe it or not, you do have rights as a debtor, rights ...
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Car Company Gets Bankruptcy Approval

A Swedish car company has finally been approved for bankruptcy protection, a necessary move to save it from financial ruin. News sources say that a court approved the business bankruptcy this month, ...
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Chicago Foreclosures Take Average of 359 Days to Complete

While foreclosure auctions in Chicago are declining, it is reported that foreclosures in the city are taking longer to process or complete. According to one company, the first six months of 2011 saw a ...
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Former Investment Firm CEO Files for Chapter 7

The CEO of a large investment management firm filed for bankruptcy this month after being approved for a lifetime ban from the securities industry. As with any Chapter 7 bankruptcy filing, the CEO ...
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Jeweler Files for Chapter 11 to Avoid Liquidation

In order to avoid being liquidated, one major jewelry company was forced to file for Chapter 11 bankruptcy this month. The company's largest creditor, a bank, filed papers of intent in July ...
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New Foreclosure Program Announced in Illinois

The governor of Illinois was proud to announce a new program that is designed to help those families that have been hit the hardest by a tough economy avoid foreclosure. The program, entitled ...
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A Chapter 7 Bankruptcy Lawyer Can be a Great Resource

Are you considering filing for Chapter 7 bankruptcy ? If so, there are a few things you should consider before submitting your bankruptcy petition. Before you make any permanent moves, go ahead and ...
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Foreclosures Picking Up in Chicago Area

After several financial institutions were charged with pushing hundreds of foreclosures through without the proper documentation, the rate of foreclosures dropped across the country. Now that these ...
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More College Graduates Filing for Bankruptcy

Curious who is filing for bankruptcy these days? Well, if you guessed college graduates, you would be correct. In fact, individuals with bachelor's degrees are the fastest growing group of ...
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Professional Baseball Team Still Dealing with Bankruptcy Battle

A Los Angeles baseball team has had a difficult year while its owner not only went through a messy divorce, but filed for business bankruptcy as well. The team was forced to file for bankruptcy back ...
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What to do When Creditors Harass You

One of the reasons people finally decide to file for bankruptcy is to avoid the constant phone calls and mailers from creditors. When you file for bankruptcy, you are given an "automatic ...
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Company in Bankruptcy files Copyright Lawsuit

Even though the company is partially funded by a billionaire investor, a copyright lawsuit filer may be forced to pursue business bankruptcy. The company is currently in the middle of a serious ...
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Bidders Fight Over Bankrupt Chicago Pizza Chain

After filing for Chapter 11 reorganization bankruptcy last year, a popular Chicago-based pizzeria chain already has some interested bidders. Among them is a local owner who already has several ...
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Repair Finances with Chapter 7

Despite the stigma that Chapter 7 sometimes carries, filing for bankruptcy could be the smartest thing you do for your finances. Did you know that when you successfully file for bankruptcy, you will ...
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Woman Purchases Home for $1 and Faces Foreclosure

Just because you purchase a home for one dollar does not mean you are actually getting a good deal. That is what one woman learned when she bought a 19 th century Victorian home for just one hundred ...
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Is Chapter 13 Right for You?

Are you considering Chapter 13 bankruptcy as a way to deal with your financial challenges? If so, you need to be certain that this is the type of bankruptcy that you want to complete before you have ...
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Qualifying for Chapter 7

Although Chapter 7 bankruptcy is often seen as the most preferred chapter to file under, not everyone will qualify for its protection. According the United States Bankruptcy Code, a partnership, ...
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Foreclosure Home Sales Decline in Chicago

Chicago, along with other areas of the country, has experienced a decline in the sale of foreclosed homes over the past few months. However, these homes have made up a larger percentage overall of ...
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Addressing Debt with Bankruptcy

Are you constantly struggling to make payments toward debts? Are you already behind on certain payments? If so, you may qualify for bankruptcy. However, before you make submit all the paperwork, it is ...
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Bankrupt Newspaper Introduces New Incentive Plan

One of the largest newspaper companies in the country is plowing ahead in its business bankruptcy plans with talk of a new incentive program. If successful, the payout plan will help the company ...
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Keeping Your Home with Chapter 13

Are you considering bankruptcy as a way to avoid additional financial hardship or the loss of your home? If so, you might qualify for Chapter 13 bankruptcy. While most people will try to file for ...
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Chapter 7 vs. Chapter 13

Understanding the difference between Chapter 7 and Chapter 13 bankruptcy can make all the difference in the success of your bankruptcy filing. The primary difference between the two types of ...
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