Bankruptcy, Foreclosure & Loan Modification Posts in September, 2017

Understanding The Bankruptcy Feedback Loop

A recent piece published in The Atlantic describes a phenomenon it dubs “the bankruptcy feedback loop.” This is the cycle of impoverished individuals filing for bankruptcy to eliminate their debts only to find themselves back in debt not long after, considering filing for bankruptcy again....
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Toys R Us Files for Bankruptcy

Not long ago, we wrote a blog post about Toys R Us’ financial troubles and how the retailer was toying with the idea of filing for bankruptcy. On September 18th, 2017, it was made official: Toys R Us filed for Chapter 11 bankruptcy....
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Do I Have to Disclose My Bankruptcy to My Employer?

There are certain questions employers cannot ask, like your religion or whether you were born in the United States. There are other questions that employers can legally ask, but they can potentially make employees and interviewees uncomfortable. One of these is whether the applicant or employee has ever filed for bankruptcy. You can refuse to answer this question, but it is in your best interest to answer honestly and frame it in a positive way. Lying about your bankruptcy can reflect worse on you than disclosing it....
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Who can File for Bankruptcy?

Individuals who are facing insurmountable levels of debt can file for bankruptcy to have their debts discharged under court supervision. In order to file for either Chapter 7 or Chapter 13 bankruptcy, an individual must meet certain requirements. Individuals over the age of 18, regardless of gender, race, employment, or marital status can file for bankruptcy....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL