October

Blog Posts in October, 2014

  • During bankruptcy, a trustee is assigned to assist with the process. In Chapter 11, the U.S. trustee's role is important in monitoring the case as it progresses and in supervising how the case is administrated. Additionally, the trustee is ...
  • While a corporation or partnership that files for bankruptcy must do so through an attorney, individual debtors who are filing for bankruptcy in Illinois are not required to do so. However, there are many benefits to filing for bankruptcy with the ...
  • An Illinois individual, partnership, corporation or other business entity can file for Chapter 7 bankruptcy, though the only people who qualify for discharge of debts under Chapter 7 are individual debtors. This does not, however, mean that the ...
  • When it comes to debt collectors in Chicago and around the nation, the law does allow for certain consumer rights. The law extends beyond collection agencies to include lawyers who collect on debts and companies that purchase bad debts with the ...
  • What is Chapter 13 bankruptcy and how does it work?

    Two of the most common types of personal bankruptcy are Chapter 7 and Chapter 13 bankruptcy. Unlike a Chapter 7 bankruptcy, where a debtor's non-exempt assets are liquidated and the proceeds used to pay off creditorys, Chapter 13 filings allow ...
  • What is Chapter 11 bankruptcy and how does it work?

    Illinois businesses may be familiar with a form of bankruptcy that allow a business to reorganize debt and refinance it in order to prevent final liquidation. While some individuals qualify for Chapter 11 bankruptcy, it most often involves ...