8934 items (5904 unread) in 34 feeds
LEGAL DISCLAIMER:
Content contained on or made available through the Web site is not intended to and does not constitute legal advice and no attorney-client relationship is formed. By using the blog, you agree that the information on this blog does not constitute legal or other professional advice and no attorney-client or other relationship is created. The accuracy, completeness, adequacy or currency of the Content is not warranted or guaranteed. The opinions expressed at or through the blog are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney and do not reflect those of the ABI. Your use of information on the Web site or materials linked from the Web site is at your own risk.
Starting September 12, 2008, the court location for Lake County bankruptcy cases will change. The new address will be:
Park City Branch Court
Courtroom B
301 Greenleaf Avenue
Park City, IL 60085
The hearing times will not change from the schedule set at Lakehurst. As for the Lakekhurst courthouse, we hardly knew you; we will hardly miss you.
In case you didn’t feel it, the numbers will tell the story. The total number of U.S. bankruptcies filed during the first three months of 2008 increased 26.9 percent over the same period in 2007. This figure is provided by the Administrative Office of the U.S. Courts which released the information today. Specifically, the total filings reached 245,695 during the first calendar year quarter of 2008 (Jan. 1-March 31), surpassing the 193,641 new cases filed over the same period in 2007.
Although we are nowhere near the amount of filings pre-reform, the uptick demonstrates that people in America are struggling significantly with debt. The bankruptcy reform laws of October, 2005 were just a speed bump on the road to future bankruptcy filings. If the sub-prime mortgage meltdown wasn’t bad enough, the current economic conditions and supra $4.00 a gallon gas prices have begun to take their toll. I believe that it is only a matter of time before filings propel to near record levels again. It will probably occur during the 2010 fiscal year.
Additional Information At Chapter 7 Bankruptcy