Latest on the Bankruptcy Blog

A Springfield Illinois Man, Mark A. McFarland, 58, plead guilty in February of this year to two counts of bankruptcy fraud in U.S. District Court in East St. Louis. Mr. McFarland, who has filed bankruptcy 10 times over the period of just five years learned his fate this week (of which 9 were dismissed due  … Read more

While Chapter 7 and Chapter 13 bankruptcies are designed to give individuals a fresh financial start by discharging debt and educating the filer on common financial pitfalls and how to avoid them, sometimes they find themselves facing similar financial difficulties and contemplating filing bankruptcy a second or even third time. You are able to file  … Read more

A credit counseling agency is sometimes sought out as an alternative to filing for bankruptcy. When you go to a credit counselor, you can expect them to review your financial situation and help you structure a plan to completely pay off your debt. A credit counseling agency will work to set up what’s called a  … Read more

While there are only a small number of non-exempt debts that cannot be eliminate through bankruptcy, generally back taxes are one of them. And while chapter 13 bankruptcy usually won’t eliminate back taxes, filing for bankruptcy can be beneficial for two reasons: they can give you more time to earn and pay the back taxes,  … Read more

The Tannery is a well-known Boston shoe retail store that has been in business for over 43 years. Unfortunately for shoe lovers in Massachusetts, the owners of the The Tannery and The Tannery Outlet filed for Chapter 7 bankruptcy in the last week of June. This is a big blow to the iconic store that  … Read more