Bankruptcy

A severe financial crisis can happen to anyone, at any time. Whether it stems from the loss of a job, mounting accounts receivables, the untimely death of a primary wage earner or unexpected medical expenses, the unpaid bills can multiply in a hurry. At Lavelle Law, Ltd. we understand how severely your life can be impacted by mounting debt and we can help. Our attorneys believe that in times of financial difficulty our clients have a right to high quality legal advice, affordable fees, and of equal importance, respect and understanding. We have built our bankruptcy practice and law firm reputation on these basic principles. Whether your debts relate to a struggling business, or to you individually, our bankruptcy attorneys are committed to helping you get back on your feet while maintaining your dignity and securing the peace of mind that you desire.

Articles on Bankruptcy

Bank’s Modification Procedures May Hurt Homeowners: March 2011 by Timothy M. Hughes; The nation’s foreclosure crisis is continuing to wreak havoc on the lives of many homeowners. In 2010, 33 states saw an increase in their foreclosure rates, with Arizona, Nevada, New Jersey, and Utah reporting the biggest jump in home foreclosures. People are continuing to lose their homes... read more
Deal or No Deal – What to do with my Lender when my House is in Foreclosure?: March 2011 by Matthew J. Sheahin; Unfortunately, in this poor economy, more and more of our clients have to deal with their house being forced into foreclosure. This is a terrible problem, but it is a problem we can help solve. We advise our clients regarding their potential defenses and develop a litigation strategy that is specifically... read more
Can Bankruptcy Discharge a Tax Liability?: December 2010 by Timothy M. Hughes; Over the years, our firm has helped numerous clients with tax debts via an Offer in Compromise, Abatement of Penalties, or favorable Installment Agreements. We have also in the right circumstances helped by filing bankruptcy for clients to eliminate (or greatly reduce) their tax obligations. Yes,... read more
My Commercial Tenant Filed Bankruptcy, Now What?: December 2010 by Timothy M. Hughes; The slowdown in America’s consumer spending based economy has been the subject of daily news reports since the fall of 2008. That slowdown has had a predictable effect on retailers. Anchor tenants such as Circuit City, as well as regular shopping mall tenants such as Linens ‘N Things and K B Toys,... read more
Bankruptcy, a Weapon to Combat Home Foreclosure: December 2010 by Timothy M. Hughes; If you face overwhelming debt and own a home, you are undoubtedly worried about home foreclosure . Perhaps you are one step away from missing a mortgage payment -- or you're already behind and the bank has come knocking on your door. Here we try to ease your worry and explain, in concrete... read more
A Chapter 13 Bankruptcy Can Help Homeowners Keep Their Home by Stripping Off Unsecured Mortgage(s): September 2010 by Timothy M. Hughes; Traditionally a Chapter 13 bankruptcy was filed in order to help a homeowner who experienced a job interruption or other financial hardship stop a judicial sale of their home in a foreclosure. The Chapter 13 allowed the homeowner to cure the mortgage arrears over a 3-5 year time period. That situation... read more
Congress Debates Bankruptcy Change To Help Homeowners Facing Foreclosure: April 2009 by Timothy M. Hughes; The Senate is to debate a homeowner rescue bill to help stem the tide of homeowners facing losing their homes in foreclosure. The proposed law contains a controversial provision to allow homeowners to hang on to their homes. The provision -- known as a "cramdown" -- was approved... read more