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Prospect Heights Bankruptcy Lawyer Saves Vehicles From Sale

07/19/11

If your vehicle has been repossessed and not yet sold an auction, I may very well be able to help you get that vehicle back. Under Chapter 13 bankruptcy laws, that vehicle is still yours until such time that it is sold at auction. That means that the vehicle can be recovered and reorganized through [...]

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Borders Discloses Offer For Inventory & Leases for Approximately 30 Stores

07/18/11

Follow @Chapter11Cases In its court filing this afternoon formally announcing the cancellation of tomorrow’s auction, Borders Group, Inc. disclosed that it “received a bid from a non-insider to purchase the inventory, furniture, fixtures, equipment and leases for approximately thirty (30) stores.”  Multiple news organizations have reported that Borders was in discussions yesterday with Books-A-Million (BAMM) on a [...]

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Borders Group (BGPIQ) Appears to Give Up Hope of Going Concern Sale

07/18/11

Follow @Chapter11Cases Borders Group, Inc. (BGPIQ.PK) announced this afternoon that “it did not require” the auction which was scheduled for tomorrow afternoon because it did not receive a “formal proposal from a going concern bidder.”  The company had received a stalking horse bid from Direct Brands, a portfolio company of Najafi Companies, which offered hope [...]

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Perkins & Marie Callender’s Claims Bar Date Set

07/18/11

Judge Kevin Gross of the Delaware bankruptcy court entered an order last week setting the deadline (or bar date) for creditors of the Perkins & Marie Callender’s restaurant companies (full list of corporate entity names included below) to file proofs of claim on account of certain pre-bankruptcy obligations. The companies voluntarily filed for bankruptcy protection [...]

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How Much Money Can I Save by Filing Bankruptcy Without a Lawyer?

07/18/11

When a business or consumer needs to file for bankruptcy, they’re often wondering: how much does bankruptcy cost? This shouldn’t come as a big surprise. After all, those facing financial hardship are counting every penny and relatively high attorney’s fees to get out of debt can seem like a tough pill to swallow. It can [...]

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Can I get rid of Criminal Fines and Traffic Tickets in Bankruptcy?

07/18/11

Millions of tickets are dolled out every year, not to mention government penalties and fines.  Government tickets and fines are one of the most common forms of debt.  Can these be discharged through a bankruptcy filing?  In Chapter 7 bankruptcy, section 523(a)(7) of the Bankruptcy Code specifically states that fines and penalties owed to or [...]

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Filing Bankruptcy With A Schaumburg Lawyer

07/18/11

 There are so many lawyers who can file a bankruptcy for you in Schaumburg.  How in the world can you make a good selection?  The answer is simple.  You must do your homework.  Check out the various websites; call the office and talk with an attorney; make an appointment and see the operation face to [...]

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But I Thought I Surrendered My House in Bankruptcy!

07/17/11

I already gave up the house, why am I being billed by my HOA? As bankruptcy attorneys, we are all hearing this complaint from clients with increasing frequency these days. As counter intuitive as it may seem, we are today often asking mortgage lenders to hurry up and follow through with a foreclosure in a [...]

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Richard Cordray to Lead Consumer Agency – Confirmation Fight Brewing

07/17/11

According to a New York Times story that broke just minutes ago, former Ohio Attorney General, Richard Cordray has been chosen to head the Consumer Financial Protection Bureau (CFPB). Mr. Cordray came to national attention for his aggressive investigations of mortgage foreclosure practices while he was attorney general. President Obama notably chose to pass over [...]

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Elizabeth Warren Ousted at the Consumer Financial Protection Bureau?

07/17/11

Has President Obama Eliminated Elizabeth Warren as a Candidate to Head the Consumer Financial Protection Bureau? This week the Consumer Financial Protection Bureau (CFPB) officially opens for business with Harvard Law Professor and bankruptcy expert Elizabeth Warren at the helm (at least for now). Ms. Warren has been an enthusiastic proponent of increased government oversight [...]

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