Bankruptcy, Foreclosure & Loan Modification Blog

Caesars Entertainment Bankruptcy Could be Finalized Soon

For two years, Caesars Entertainment Corporation has been in and out of court with creditors over who must pay to repair the company's operating unit, which cannot repay its $20 billion debt on its own. As of September 2016, it appears that Caesars' bankruptcy battles could soon be over....
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Hanjin Shipping Company Bankruptcy Leaves Ships Stranded at Sea

South Korean shipping giant Hanjin Shipping Co. filed for bankruptcy in August 2016. Since its filing, the company has run into many issues with ports around the world. Many refused Hanjin ships access to their docks, leaving ships and their cargo stuck in the ocean, waiting for further instruction. In many of these cases, the ports refused the ships’ access because they feared Hanjin Shipping Co. would not pay them for the use of their properties....
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Exploring Your Bankruptcy Alternatives

When you feel like you cannot get your personal debt under control, filing for bankruptcy can be an attractive option. For many individuals, bankruptcy is the key to having their debts discharged and moving forward with their lives. Although bankruptcy can be a great tool, it is likely not your only option. Depending on your circumstances, you might be better suited to one of the bankruptcy alternatives discussed below....
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When is Filing for Bankruptcy Not a Good Idea?

When you are unable to handle your debt load, whether that debt load is personal or business debt, you might consider filing for bankruptcy. Bankruptcy is a legal process through which an individual or company in debt can have that debt discharged, either through the liquidation of assets (Chapter 7), a repayment plan (Chapter 13), or a reorganization of the company (Chapter 11). Other chapters exist as well, such as Chapter 9, Chapter 12, and Chapter 15, but these are for niche purposes and only utilized by specific groups....
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Filing for Chapter 13 Bankruptcy with a Variable Income

Chapter 13 bankruptcy is an option for individuals who have an income to work through their debt issues and move toward a financially sustainable future. Unlike Chapter 7 bankruptcy, which involves ceding control of the filing party's assets to a court-appointed trustee to liquidate and use the profits to pay off his or her debt, Chapter 13 pairs the filer with a trustee to develop a repayment plan that will allow him or her to repay the bulk of his or her debt over a period of three to five years....
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Aeropostale to Seek Bankruptcy Rescue

In an earlier post, we discussed fashion retailer Aeropostale's financial troubles, the changing factors in the fashion world behind them, and the company's bankruptcy plan. Now, there are new developments regarding Aeropostale's bankruptcy and potential financial recovery. It and Versa Capital Management hope to reach a purchase deal by the second week of August....
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Mistakes to Avoid When Going Through the Bankruptcy Process

Bankruptcy can be confusing. When you are trying to work through the stress and confusion of the bankruptcy process while balancing your job and family commitments, you can easily become overwhelmed and prone to making mistakes. These mistakes can only hurt you more, potentially invalidating your bankruptcy claim or forcing you to take extra time and money to repair them....
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Mistakes to Avoid When Going Through the Bankruptcy Process

Bankruptcy can be confusing. When you are trying to work through the stress and confusion of the bankruptcy process while balancing your job and family commitments, you can easily become overwhelmed and prone to making mistakes. These mistakes can only hurt you more, potentially invalidating your bankruptcy claim or forcing you to take extra time and money to repair them....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL
  • Lawyer.com