Tag Archives: Bankruptcy Indiana
Court Decision Highlights What Bankruptcy Can And Cannot Do
In a March 2017 opinion, the Indiana Supreme Court distinguished between an in rem proceeding against property and an in personam proceeding against individuals to deny mortgage relief in a Chapter 7 case. McCullough v. CitiMortgage involved a long-running dispute between the homeowners and a mortgage company. According to court documents, in the early… Read More »
Pre-Bankruptcy Activity In Indiana
When regular people contemplate bankruptcy, does it look anything like the looming HHGregg bankruptcy? After two straight years of revenue losses, including a 24 percent decline in the fourth quarter of 2016, the Indianapolis-based company may now see Chapter 11 bankruptcy as the best way to pull out of its financial tailspin. Two other… Read More »
Indiana Rejects Peabody Bankruptcy Plan
Concerns over future mine cleanup costs have put the energy giant’s Chapter 11 bankruptcy on hold, at least for now. The state of Indiana, along with some environmental groups, were among the only parties that objected to an $8 billion reorganization plan. Peabody said it would use a controversial though federally-approved plan to clean… Read More »
Should Financially Distressed Illinois Cities File Bankruptcy?
The nonprofit Manhattan Institute says that an “intervention bankruptcy” is a good option for cities experiencing pressing financial problems, as long as politicians are kept out of the loop. Such a course of action is highly preferable to continuing operations on the brink of insolvency, because eventually they get to a point “where they… Read More »
Dischargeable Bankruptcy Debts
Mortgage underwriters talk a lot about debt-to-income ratio, and as a rule of thumb, a 43 percent DTI ratio is the ceiling for mortgage qualification purposes. The thinking is that people who owe more money than that cannot afford to pay it back, and therefore they are very poor credit risks. So, according to… Read More »
Your Bankruptcy And Your Security Clearance
Federal law clearly states that it is illegal to discriminate against people who file bankruptcy, yet the myth persists among some people that a voluntary petition adversely affects security clearances. One of the most important provisions in Department of Defense Directive 5220.6, which controls security clearance issuance, is in the preamble: “each [area] is… Read More »
The Financial Comeback Trail
Abraham Lincoln, one of Illinois’ favorite sons, declared bankruptcy in 1833. In his early 20s, Lincoln worked various jobs in Springfield, and that work included employment at a local general store. When the establishment closed, the young and enterprising Lincoln decided to open his own store in New Salem with a business partner. The… Read More »
Can I File Bankruptcy Again?
They say that lightning never strikes twice in the same place; unfortunately, financial misfortune comes with no such guarantee. Job loss, serious illness, divorce, and other unexpected emergencies may occur once in a lifetime or once a year, and it is almost impossible to predict when the next storm will arrive. That unpredictability and… Read More »
Under Armour Tries To Recover From Sports Authority Bankruptcy
Share prices for the country’s second-largest sports apparel retailer have plummeted 20 percent in the last year as Under Armour struggles to find new customers to replace the bankrupt Sports Authority chain. Carter Harrison analysts had already predicted that the company might have to endure “a tougher period” after the firm lost one of… Read More »
Court-Ordered Liquidation Begins At ITT Tech
Two New York-based companies will oversee the sale of the college’s thirty owned properties and 111 leases in Indiana and thirty-eight other states. A&G Realty Partners LLC expects a “high level of interest in the properties” since they “are well-built buildings in excellent condition, with good ceiling height and above-average parking, which can be… Read More »
