Credit Score – Check Your Numbers!

Your Credit Score Matters! During this past Superbowl – in between million dollar commercials, there was a football game played. For those of us entered in a pool at work or our favorite hangout, we’ll be keeping an eye on every change in score. While these scores can be profitable, they are far less important…

Using Bankruptcy As A Bargaining Tool

A law professor at the University of Illinois says that bankruptcy is the way to go when you have valuable assets to protect. While filing for bankruptcy can be very helpful when it comes to wiping out debt, it comes with serious consequences. In many cases, it is best to use bankruptcy as a bargaining…

Chicago Struggling Without Bankruptcy Option

Chicago is the biggest city of note in Illinois that is struggling financially, but it is definitely not the only one. Cities in the state have to be granted legislative approval in order to file for bankruptcy, which is practically impossible to get. So, instead, cities such as Chicago suffer under the weight of pension…

Illinois Mayors Talk Bankruptcy Options

City mayors in Illinois are speaking out about the State’s refusal to allow them to file bankruptcy. Without that option, they say, cities are struggling to pay pensions. And residents are having to pay higher and higher taxes to compensate. Read more from rrstar.com: Rockford Mayor Larry Morrissey said Wednesday that Illinois towns and cities…

GM Fighting New Battle In Bankruptcy

General Motors filed for bankruptcy, which should make them exempt from actions prior to the filing. A new issue surrounding a malfunctioning part in 2009, however, may not be covered by the bankruptcy laws. An ignition switch defect could set them up for over a dozen lawsuits. Read more from autospies.com: The automaker made the…

Illinois Auto Insurance Companies Filing For Bankruptcy

Two extended auto warranty companies in St. Charles, Illinois recently filed for bankruptcy. They both filed for Chapter 11 bankruptcy protection. And they both claim to have somewhere between 50-99 creditors. Read more from bizjournals.com: Imperial Auto Protection LLC and Royal Auto Protection LLC, both extended auto warranty companies based in St. Charles, have filed for…

Retail Stores Bankrupt In Illinois

Coldwater Creek has announced its impending bankruptcy plans. It will close 18 retail stores in the state of Illinois alone. Across the country, 365 stores will be closed. Learn more from Kane County Chronicle: The Coldwater Creek store at 310 Commons Drive, in the Geneva Commons shopping center, is among the chain’s 365 stores slated to…