Why Do People File for Chapter 7 Bankruptcy? Here’s What You Need to Know

Life can get hard, especially when debt starts to pile up. For many people in Illinois, especially in Chicago, the rising cost of living and unexpected expenses can make it impossible to keep up. Chapter 7 bankruptcy has become a way out for many who need a fresh start. At The Bill Slayer, Robert J. […]

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What Is A Chapter 11 Reorganization For Small Businesses?

Corporations (including Not-For-Profit Corporations), Partnerships,  and Individuals who exceed the debts limits for a Chapter 13 are  candidates for a Chapter 11. The  definition of a Small Business in a Chapter 11 is one where the debts  don’t exceed about $2.5 million (currently $2,566,050). The debt limit  excludes amounts owed to persons considered “insiders” such

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What Is Small Business Bankruptcy In Illinois?

After decades of helping individuals and businesses one thing is  clear. Each client is unique and that includes their problems,  situations, and possible solutions. Experienced lawyers do not offer  cookie cutter options. The Bankruptcy laws have parameters, rules and  regulations. Within these parameters experienced lawyers should look for  solutions that best fit the needs of

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