Normally, a single asset real estate chapter 11 is filed on the eve of a foreclosure sale by the debtor who is making one last ditch attempt to keep the property. Meanwhile, the secured lender wants out of bankruptcy as quickly as possible so that it…
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Attorney James Liu joined FactorLaw as an associate in the Downtown office effective October 12, 2015. Prior to joining FactorLaw, James was a Judicial Clerk for the Honorable Jack B. Schmetterer of the United States Bankruptcy Court for the Northern…
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The Supreme Court has agreed to decide whether a transfer designed to hinder, delay or defraud a creditor renders the amounts owed to the creditor non-dischargeable.
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‘Chapter 20’ Debtors Can Strip Junior Liens, 9th Circ. Says A Ninth Circuit bankruptcy panel ruled Thursday that distressed homeowners who convert from Chapter 7 to Chapter 13 bankruptcy can strip wholly unsecured junior liens, joining a…
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Featured Speaker Ariane Holtschlag The Law Office of William J. Factor, Ltd.; Chicago Friday, September 11 9:45–11:00 a.m. Hot Consumer Bankruptcy Topics This year’s hot topics will include two cases currently pending before the U.S. Supreme Cour…
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District Court Upholds Chapter 7 Trustee’s Motion for Turnover In In re Fregeau, 15 C 01687 (N.D. Ill. June 26, 2015), FactorLaw represented a chapter 7 trustee in his efforts to obtain the turnover of $141,000 from a chapter 7 debtor. The parties…
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According to the American Bankruptcy Institute, total bankruptcy filings totaled 422,782 nationwide during the first six months of 2015 (Jan. 1-June 30), a 12 percent decrease from the 479,573 total filings reported during the same period a year ago,…
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The following information was provided by the Federal Trade Commission (http://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself): You see the ads in newspapers, on TV, and online. You hear them on the radio. You get fliers in the ma…
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In In re Rose I. Avalos, 15 A 00091 (Bankr. N.D. Ill. June 12, 2015), Judge Schmetterer reasoned that a creditor could be found to have violated the Federal Debt Collection Practices Act by filing a proof of claim in a chapter 13 to recover credit ca…
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The Obama administration said yesterday that it would forgive federal student loans owed by Americans who can show they were lured to colleges by fraudulent recruiting, a move that potentially could involve billions of dollars and is one of the most…
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