Learn More About Business Bankruptcy Law in Naperville, Illinois

Naperville is a city in DuPage and Will Counties in the U.S. state of Illinois, within the Chicago metropolitan area. As of the 2000 census, the city had a total population of 128,358. A special census taken in 2008 showed the population to be 144,560. Naperville is the fifth largest city in the state, behind Chicago, neighboring Aurora, Rockford, and Joliet. Approximately 100,000 Naperville residents live in DuPage County, while about 50,000 reside in Will County. Naperville was one of the ten fastest growing communities in the United States during the 1990s. Once a farming town, Naperville has evolved into a wealthy city due in part to a migration of professionals in the 1990s seeking jobs and globally renowned public schools. A number of high-tech companies are located in the city, including Nalco Holding Company, Tellabs, Alcatel-Lucent and the BP North American Chemical Headquarters. In 2008, Fortune ranked Naperville as among the "best places to live and launch" a business in the United States, ranking 29th out of 100. In 2006, Money magazine listed Naperville as #2 on its annual list of America's best small cities to live in. The city took the #3 position on the 2005 and 2008 lists.

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...