Bankruptcy, Foreclosure & Loan Modification Posts in November, 2012

Decline in the Unemployment Rate in Illinois

The main reasons why people seek bankruptcy are either from medical bills, divorce or unemployment.  Obama has set up a plan to try and eliminate expensive medical bills for those without insurance.  Divorce will continue to fluctuate with no discernible end.  The last cause of bankruptcy, unemployment, is much easier to evaluate....
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Bankruptcy is Likely for Coal Plant

In Illinois, the owner of six coal fired electric generating plants, including Fisk and Crawford stations in Chicago, is very close to filing for bankruptcy. The chairman and chief executive officer at Edison International, the holding company for Edison Mission Energy whose subsidiary is Midwest Generation, Ted Craver said EME is not expecting to repay $500 million debt that is due in June 2013....
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Credit Card Delinquency Up Again

The road to bankruptcy can be lined with persistent creditors, harassing phone calls, and enough daily annoyance to make a person crazy. Credit card debt is one of the main reasons cited for bankruptcy for Americans, and many in debt negotiate with debt settlement programs....
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Twinkies Seeking To Impose A Deal With Union

As posted earlier in our blog, Hostess Brands Inc., the maker of Twinkies, is going through bankruptcy proceedings. The company filed for Chapter 11 in January, and the case is still unresolved. Now the company is trying to impose a contract on a bakery union to keep the company from going out of business. Reuters did a story on the case....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL