Congress is working to extend low student rates

Posted on Friday, September 7th, 2012 at 3:35 pm    

A report by CNNMoney indicates that right before the July 2012 deadline, Congress voted to extend the student rate of 3.4% for another 12 months. By doing this, Congress avoided a spike in interest rates on these types of student loans. Chapter 13 bankruptcies can effectively consolidate and repay student loans. Contact our Joliet Bankruptcy lawyers today to schedule a free bankruptcy consultation.

Low paying jobs being added during job growth. Chapter 7 bankruptcy can help.

Posted on Monday, September 3rd, 2012 at 12:32 pm    

http://finance.yahoo.com/news/majority-jobs-pay-low-wages-140207221.html

A new report from the National Law Employment project states that during the period of job growth, a majority of the jobs added are low paying. There is a need not just for jobs – but good jobs. A Chapter 7 bankruptcy will allow you to wipe-out the debt so you can focus your precious income on you & your family’s living expenses – rent/mortgage, food, utilities, medical/dental expenses, school, transportation. At the Law Offices of Stuart B. Handelman, P.C. we provide low fees and affordable payment plans so you can get your “Fresh Start.” Call our office to schedule a free, confidential consultation at one of our 4 offices: Joliet, Palos Hills, Chicago, Flossmoor.

The price of filing for bankruptcy has increased.

Posted on Wednesday, August 22nd, 2012 at 9:12 pm    

http://money.cnn.com/2012/05/07/pf/bankruptcy-costs/index.htm

In 2005, Congress amended the Bankruptcy Code. As a result of these changes, the price of filing for bankruptcy increased. Several studies have suggested that it is the middle class consumers that can only afford to file for Chapter 13 or Chapter 7 bankruptcy protection. However, considering how complicated the Bankruptcy Laws are, it is highly recommended that you hire an experienced attorney to represent you in the filing of a bankruptcy. At The Law Offices of Stuart B. Handelman, P.C. located in downtown Joliet, we provide low fees and affordable payment plans.

Packaged-ice distributor, Reddy Ice, files for bankruptcy protection

Posted on Tuesday, April 17th, 2012 at 3:31 pm    

The packaged-ice distributing company, Reddy Ice, has filed for bankruptcy protection as a way to eliminate debt that racked up from dealing with lawsuits brought upon by the federal government.

Reddy Ice, along with Arctic Glacier and Home City, was accused of allegedly being involved in a conspiracy to put smaller packaged-ice companies out of business by keeping their prices at higher levels.

Reddy Ice is currently bidding to buy Arctic Glacier, who filed for bankruptcy earlier this year. Experts within this industry have suspected a merger from these two companies for quite some time. Stock prices for the two companies in the past two years have fallen $300 million. Reddy Ice has listed $530.8 million in debt and $434 million in assets.

If you or a loved one has been considering filing for bankruptcy, you need representation on your side during this time that may help you receive the compensation that you deserve. Contact the Joliet bankruptcy lawyers of the Law Offices of Stuart B. Handelman by calling 815-722-2201 today.

Former NFL star, Warren Sapp, files bankruptcy petition

Posted on Wednesday, April 11th, 2012 at 2:42 pm    

Former NFL player for the Tampa Bay Buccaneers, Warren Sapp, has announced that he has filed a bankruptcy petition even though he had a successful football career as well as a career as a television personality.

According to the 59 page bankruptcy petition that was filed, Sapp’s assets total to almost $6.4 million and this includes a watch, Nike Air Jordan shoes, and a rug made of lion skin.

The documents also show that he owes a total of nearly $6.7 million to creditors as well back child support payments. Sapp owes nearly $75,000 a month in child support and alimony payments and documents show that his income is close to $116,000 a month. His assets will be liquidated in order to make these payments.

If you or a loved one has been struggling with debt and would like to discuss your options with an experienced representative, contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman, P.C., by calling 815-722-2201.

AFA Foods, Inc, producer of ‘Pink Slime’ files for bankuptcy

Posted on Thursday, April 5th, 2012 at 1:51 pm    

The Pennsylvania-based ground beef producer, AFA Foods Inc., has recenlty filed for bankruptcy. Although officials with the company have stated that they have experienced financial issues for quite some time, the recent claims of the company filling their meat products with “pink slime” has also been an issue.

Pink slime is beef filler that is very finely textured and the use of it in ground beef products was recently exposed. According to officials in the supermarket industry, in March, consumers began to avoid buying ground meat whether there was pink slime fillers or not.

Supermarkets began to ask their suppliers to stop using the pink slime. AFA Foods felt the decrease in ground beef sales even more than most meat producers because they do not have any other type of meat to fall back on such as chicken or pork, they solely produce ground beef. AFA has listed assets totaling to $219.6 million and debts up to $197.3 million.

If you or loved one has been struggling with the financials of your company, contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman today by calling 815-722-2201 and discussing the best options for you and your business.

Research shows increase in bankruptcy filings after tax refunds

Posted on Monday, March 26th, 2012 at 7:37 pm    

New research done by by economists at three prominent universities shows that the number of bankruptcy filings increase after people receive their tax return refunds.

In 2008, the year with the most recent data, the total number of bankruptcies rose from nearly 7 percent after taxes were refunded. Economists believe that this is because the fees to file for bankruptcy have increase since 2005.

If you or a loved one has been struggling with finances and are curious whether filing for bankruptcy will be beneficial for you, now is the time to discuss your options with experienced representation. Contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman by calling 815-722-2201 today.

Texas-based, TaxMasters, files for bankruptcy

Posted on Wednesday, March 21st, 2012 at 8:46 pm    

A Houston-based company, TaxMasters, has now filed for Chapter 11 bankruptcy protection over the weekend.

The firm has recently been accused of deceptive practices by the attorneys general of Minnesota and Texas. The complaint filed by the Texas Attorney General came about after multiple consumers made allegations against the firm and the civil trial will be beginning shortly.

These charges claim that the firm failed to disclose its policy on refunds and mislead customers on what services would be done.  The complaint from the Minnesota Attorney General was settled in 2010 and stated that the firm made customers pay advanced fees and stated that they could reduce tax bills by 90 percent and in some cases, they were not reduced at all. The firm has stated that it owes between $1 million and $10 million in debt.

If you or a loved one has been struggling financially and are considering bankruptcy, contact the Joliet bankruptcy lawyers of the Law Office of Stuart B. Handelman by calling 815-722-2201.

Hostess’ new CEO to help company navigate through bankruptcy proceedings

Posted on Monday, March 12th, 2012 at 8:02 pm    

Hostess Brand Inc., named a new CEO that will help them through there Chapter 11 bankruptcy reorganization process.

The Texas-based company filed for bankruptcy after struggling with increased competition and labor costs. The former CEO resigned from the position and he is now being replaced by the chief reconstruction officer who joined with Hostess in February.

The company filed for Chapter 11 bankruptcy in February.  Another reason that the company has struggled with sales is because of health conscious Americans choosing healthier snack options.

If you or a loved one has been considering a filing for bankruptcy in order to help with your financial situation, visit the Joliet bankruptcy lawyers of the law office of Stuart B. Handelman by calling 815-722-2201

14 percent of Americans pursued by debt collectors

Posted on Thursday, March 1st, 2012 at 3:43 pm    

Tuesday, the Federal Reserve Bank of New York released their “Quarterly Report on Household Debt and Credit.” The report outlines the level of credit consumers face today and the realities of debt collection.

According to the report, consumer debt in the U.S. is decreasing. However, the report also notes that delinquencies on debt have increased. Accordingly, the current rate of Americans pursued by third party debt collectors is the second-highest ever at 14.29 percent. The rate has only been higher at 14.38 percent in the second quarter of 2011.

In 2000, approximately 1 in every 14 consumers in the U.S. were pursued by third party debt collectors. Now, statistics show that about 1 in every 7 consumers are confronted by debt collectors. The average amount of money sought by debt collectors is $1,437–as of the fourth quarter of 2011.

If you have been harassed by a debt collector, and would like to speak with an experienced attorney about stopping this, contact the Joliet bill collector harassment attorneys of the Law Offices of Stuart B. Handelman, P.C. by calling 815-722-2201.