Latest on the Bankruptcy Blog

A prominent Chicago gourmet foods retailer, Fox & Obel, recently announced that it will be filing Chapter 11 bankruptcy protection. The move come after a string of failed health inspections and a stiffening of competition in the area, an area of the city in which Fox & Obel was once the sole outlet for gourmet  … Read more

According to the latest numbers, Nevada is leading the pack by a wide margin – unfortunately, the category it is leading in is foreclosures per housing unit, hardly a stat to boast about. Nevada’s foreclosure rate is at about 1 in 300 homes, way above the national average of 1 in 1000. According to a  … Read more

This week in bankruptcy news: Clothing retailer JCPenney pairs with Goldman Sachs to investigate debt reduction strategies. Smartphone manufacturer BlackBerry looks to the Canadian equivalent of Chapter 11 to manage its failing finances. Read the full stories below: JCPenney Looking To Raise Capital As Goldman Hints At Bankruptcy, Playing Both Sides Of The Deal The  … Read more

If you are stuck with a heaping helping of credit debt and don’t have the appetite for it, you may not be able to see your way past the mountain to a time when you will want to get your credit score back to respectability, let alone perfection. But the fact of the matter is  … Read more

Chapter 13 bankruptcy is a fairly common form of filing for bankruptcy, but there are a few general guidelines to follow to ensure you are eligible and that everything goes smoothly. If you are considering whether filing Chapter 13 bankruptcy is the right move for you, be sure to retain the services of a qualified  … Read more

Those faced with underwater mortgages may be looking for a way to avoid foreclosure; if so, you have probably heard about or considered the possibility of a short sale. Short sales have a distinct set of advantages, but are not the perfect way to avoid foreclosure by any means. Here are a few common misconceptions  … Read more

There are a whole host of innocent-seeming mistakes that many people make when it comes to managing their finances. These money management pitfalls are relatively minor individually, but when a few of them are combined, the result could mean very bad news for your wallet, and in some cases it could even be a ticket  … Read more

If you have been stuck with an injunction and a garnishment order by a creditor, you are no doubt feeling the burden. Wage garnishment is a tough thing to deal with; even if you know the state of your debts, and you know your creditor is only exercising their legal right to get the money  … Read more

Continuing a trend that has been seen nationwide, Chicago has reported that its foreclosure rate is down a satisfying 59% from just one year ago, according to the latest study. This is a promising sign for the recovery of the housing market, which has seen similar drops in numbers of foreclosures across the country in  … Read more

Rebounding from your Chapter 13 bankruptcy can be a trying ordeal. Undoubtedly your credit rating will have taken a ding or two in the bankruptcy process. It is in the nature of filing for bankruptcy, and it is unavoidable. Luckily, Chapter 13 bankruptcy offers some unique advantages that should put you in the driver’s seat  … Read more