Learn More About Business Bankruptcy Law in Champaign, Illinois

Champaign is a city in Champaign County, Illinois, in the United States. The city is located 135 miles (217 km) south of Chicago, 124 miles (200 km) west of Indianapolis, Indiana, and 178 miles (286 km) northeast of St. Louis, Missouri. Though surrounded by farm communities, Champaign is notable for sharing the campus of the University of Illinois at Urbana-Champaign with its sibling city of Urbana. Thanks to the university and a number of well known technology startup companies, it is often referred to as the hub, or at least a significant landmark, of the Silicon Prairie. Champaign houses offices for seven Fortune 500 companies, and two more are planned to arrive soon. As reported in the 2000 U.S. Census, the city was home to 67,518 people. The city held a special census in 2007 that showed that its population had grown to 75,254. The mayor is Gerald Schweighart, whose term will expire in 2011.

What is business bankruptcy law?

Business Bankruptcy involves the legal process that insolvent businesses take to insure fairness and equality upon creditors and to help the debtor company start anew with the property the company is allowed to keep without being hampered by their liabilities. Business Bankruptcy attorneys advise on debt relief options and guide companies through each phase of a federal bankruptcy filing -- including Chapter 7 bankruptcy debt discharge plans and Chapter 11 bankruptcy debt reorganization plans. Bankruptcy attorneys may also represent creditors seeking to have their rights enforced in connection with the bankruptcy reorganization of a debtor.

Personal Bankruptcy attorneys also advise on debt relief options and guide individuals through each phase of a federal bankruptcy filing.

Answers to business bankruptcy law issues in Illinois

What are the different options for bankruptcy?

There are six basic types of bankruptcy cases provided for under the Bankruptcy Code, each of which is discussed...

Where Can I get Bankruptcy Forms?

Official Bankruptcy Forms must be used to file and take action in bankruptcy cases. Procedural Forms also may be...

What is a Chapter 7 Bankruptcy Liquidation?

Chapter 7 of the Bankruptcy Code provides for "liquidation," ( i.e., the sale of a debtor's nonexempt property and...

What is a Chapter 9 Municipality Bankruptcy?

Chapter 9 of the Bankruptcy Code provides for reorganization of municipalities (which includes cities and towns, as...

What is a Chapter 11 Bankruptcy Reorganization?

Chapter 11 of the Bankruptcy Code provides (generally) for reorganization, usually involving a corporation or...

What is a Chapter 12 Family Farmer or Family Fisherman Bankruptcy?

Chapter 12 of the Bankruptcy Code provides for adjustment of debts of a "family farmer," or a "family fisherman" as...

What is a Chapter 15 Cross-Border Bankruptcy?

Chapter 15 is a new chapter added to the Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection...

What is the Securities Investor Protection Act?

Although the Bankruptcy Code provides for a stockbroker liquidation proceeding (11 U.S.C. ยง 741 et seq.), it is far...

What Bankruptcy Terminology Should I be Familiar with?

Most debtors who file a bankruptcy petition, and many of their creditors, know very little about the bankruptcy...

How can I protect myself from debt collectors?

Laws prohibit debt collectors from using abusive or deceptive tactics to collect a debt. Unfortunately, many...

Federal court opinions concerning business bankruptcy law in Illinois

618 F2d 432 Pubs Inc of Champaign Bank of Illinois in Champaign