Think bankruptcy could be just what you need to fend off over-reaching creditors and get that fresh start? You're right. But how to go about it? In this post we'll outline the steps you need to take.Read More
According to the best practices website maintained by the National Governors’ Association, legislators, courts, and law enforcement officials in Illinois have taken steps to deal with the mortgage mess. Whether any of them will do any good is still up in the air. Mortgage Fraud Hotline: 800-532-8785 Governor’s Homeowner Assistance Initiative: free mortgage counseling and...Read More
Everyone has heard of Bernie Madoff. But have you heard of James and Verna Pilon? If you live in Chicagoland, you better pay attention-the Pilons are a couple from Joliet that have swindled investors out of over $1 million. Both are headed to federal prison. Before the Pilons were caught and sentenced however, they perpetrated...Read More
“It’s not just a low-income problem. We’re seeing folks who are middle and upper income as well… loss of employment has been the catalyst, or a family crisis or some other emergency has triggered the problem.” — Case Worker at NFP Mortgage Counseling Agency Not-For Profits to the Rescue? Millions have been put out of...Read More
The SEC filed a complaint. The court appointed a receiver to handle defendants’ assets for distribution among victims of the $31 million fraud. Assets included oil and gas leases. SonCo filed a claim. The parties came to terms; the court entered an agreed order that required SonCo to pay $580,000 for assignment of the leases....Read More
According to a NY Times article, bankruptcy filings are down. There are projected to be between 5 and 10% few filings this year. There are a number of factors cited: access to credit, amount of consumer debt, and economic factors (unemployment and foreclosures).Read More
Stern, Executor for Est. of Marshall v. Marshall, Executrix for Est. of Marshall, Supreme Court of United States Decided June 23 Click here to view and download the opinion in .pdf format. The Question: Whether a bankruptcy court judge hadauthority under 28 U. S. C. §157 and Article III of the US Constitution to enter...Read More
In re: Highlands of Montour Run, LLC 10-21678 Opinion Issued June 08 ’11 By Judge Pamela S. Hollis Summary: Creditor objected to approval of disclosure statement where plan contemplated using rents from apartment complex after the automatic stay had been lifted with respect to the apartment complex and creditor had asserted its right to take...Read More
