The fourth blog in a four part series about filing for a Chapter 7 or 13 bankruptcy. By Sara E. Cook A discharge of most debts will be granted if you meet the requirements under the Bankruptcy Code and no one is objecting to the overall discharge, or the discharge of a specific debt. It […]
The third blog in a four part series about filing for a Chapter 7 or 13 bankruptcy. By Sara E. Cook By the time you file the Petition, the Petition Date, you have elected one of two possible Chapters under the Bankruptcy Code, either Chapter 7 or 13. By filing the Petition, under either chapter, […]
The second blog in a four part series about filing for a Chapter 7 or 13 bankruptcy. By Sara E. Cook Having made the decision to file for bankruptcy, known as seeking protection from creditors, you need to work with your attorney to get the case prepared for filing. The filing that you will make […]
The first blog in a four part series about filing for a Chapter 7 or 13 bankruptcy. By Sara E. Cook Often when a large corporation files for bankruptcy, you will hear that it is the right business decision, it gives them a chance to right size, change direction, get rid of unprofitable businesses and […]
During economic hardships, small businesses may need to utilize the oft option of filing for bankruptcy protection to reorganize their debt. Bankruptcy often is considered a last resort option. Yet, it provides a powerful mechanism for individuals and small businesses to reorganize and manage their debt. The Small Business Reorganization Act of 2019 (“SBRA”) added […]
Many individuals struggling with debt often do not explore the option of seeking financial relief under the U.S. Bankruptcy Code out of fear of losing a job or discriminatory treatment by an employer.
We compiled this practical blog to answer some of the most Frequently Asked Questions about bankruptcy. Should I file for bankruptcy? This is a difficult question with no easy answer. You may want to file bankruptcy if you answer “yes” to any of the following questions:
The daily challenges of operating a business in a competitive marketplace as a sole proprietor can become overwhelming. If you are a sole proprietor with more debt than you can comfortably handle, a Chapter 13 bankruptcy might offer you the debt relief needed to put things back in order.
The Bankruptcy Court of the Northern District of Illinois released an important message this week regarding a new telephone scam. The new scam, called “Caller ID Spoofing”, involves a scammer using an attorney’s phone number to call her or his clients asking for additional payments for creditors and directing the client to call a toll-free […]
Verify your debt before paying any collection agency: There are many scam artists trying to collect non existent debts. They phone, they text, they email, and they use regular mail. Before you send money to a collection agency there a few simple steps you should take to obtain additional information about the debt to ensure […]