Question: During my BK, I reaffirmed an auto loan. However, I was told by my lawyer that I could change my mind and surrender the vehicle as long as it was done before the discharge took place. My question is, I filed the paperwork to...
Recent usage before bankruptcy
No matter what chapter you plan on filing for, do not, I repeat do not run up debt, charge on your credit cards, take loans, especially payday loans right before you file. Do not do it to pay the lawyer. Do not do it to pay the bankruptcy...
Cubs -Tribune Bankruptcy
Here is a switch, I just covered this in my sports column, but it is relevant here too.
The Tribune Co. has filed for Chapter 11 bankruptcy protection in Delaware.
They have said in a news release, that the Chicago Cubs,...
Bankruptcy in the media
Recently I was interviewed by Inyoung Hwang from Northwestern University’s Medill graduate journalism school regarding the recent increases in bankruptcy filings and the economy. Here is the article.
Bankruptcy filings soar in...
Preferential payments while insolvent – must prove insolvent at time of payment
Civil - BankruptcyBaldi v. Samuel Son & Company, Ltd., Nos. 08-1022 & 08-1136 Cons. (11/24/08). Appeal, N.D. Ill. E. Div. Aff'd.Dist. Ct. did not err in denying Trustee's request to recover several payments that debtor had made within four...
new bill updates
Mortgage Foreclosure ActSenate Bill 2725 (Haine, D-Alton; Harris, D-Chicago) creates a 90-day stay in Illinois courts of action in any pending mortgage foreclosure. It also prohibits the filing of any new mortgage foreclosure action during...
Obama – McCain tax savings Calculator
New Illinois Bankruptcy caselaw
In re: Kreisler, No. 06-3881 (10/20/08). Appeal, N.D. Ill., E. Div. Reversed and remanded.Bankruptcy Court erred in invoking doctrine of equitable subordination to essentially reduce priority of claim that debtors had purchased at discount...
Rapid Fire Q&A Bankruptcy Style
MORE BANKRUPTCY Q&AGet your own lawyer. This is not legal advice for you!State laws and case law vary.
Here we go.Subject: Will I be able to Keep my...
Bankruptcy Q&A rapid fire
Time for rapid fire Bankruptcy Q&A again.PLEASE REMEMBER STATE LAWS DIFFER. SPEAK TO YOUR OWN ATTORNEY. THIS IS NOT LEGAL ADVICE BASED ON YOUR CASE.
Subject:...