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The Eleventh Circuit Court of Appeals affirmed a district court decision (which had, in turn, affirmed a bankruptcy court decision) sustaining the debtors (Winn-Dixie Stores, Inc. et al.) objections to the appellants (IRT Partners, L.P. and Equity One, Inc.) attempt to amend their claims post-confirmation of the debtors plan of reorganization.

The claims arose in connection with Winn-Dixies rejection of leases with the appellants during its chapter 11 cases. The appellants timely-filed proofs of claim for rejection damages, which the debtors subsequently successfully sought to have reduced (without objection, appearance, or appeal by appellants). IRT Partners, L.P.’s original claim was for $20,364.24 and was reduced to $11,636.71; Equity One, Inc.’s original claim was for $87,498.59 and was reduced to $16,913.96.

On November 9, 2006, the bankruptcy court entered an order confirming Winn-Dixies plan of reorganization. Nei

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This is my first post on National Bankruptcy Forum and I wanted to address an issue that is very important to me.  Many Bankruptcy Attorneys are active in the fight to save their clients homes.  When in the middle of a fight for your home please talk with an attorney before you hire a securitization auditor.  A securitization auditor is an essential member of the foreclosure team but the decision on who to hire needs to be done in conjunction with the attorney presenting the case to the court. To see the original post click here.  

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Congress is moving to end the government’s failed mortgage modification program, once again leaving Chicago homeowners facing foreclosure to fend for themselves.

Our Chicago bankruptcy attorneys continue to assist clients struggling with mortgage debt to determine the best course of action. The Home Affordable Modification Program was an abysmal failure largely because banks refused to cooperate — ultimately only about $1 billion of the $50 billion earmarked for homeowners was distributed.

In many cases, the process turned out to be a nightmare for homeowners who were already struggling to stay afloat financially. Mortgage modifications were approved on a temporary basis, then later rejected for permanent modification. Often, the banks used the resulting mortgage arrears to file foreclosure actions. In other cases, lenders approved a modification and then sold the loan to a bank that would not honor the agreement.

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Many Americans are facing insurmountable debt due to medical bills. In fact, medical expenses are the leading cause of bankruptcy filings. With the outrageous cost of treatments, procedures and medications and the lack of adequate insurance coverage, more and more Americans fall into debt because of a health emergency or chronic medical conditions. Many residents may have the right intentions, attempting to pay off the debt, but simply don’t have the available funds to do so.

Our Chicago bankruptcy attorneys would like you to know that there are ways to rise up out of debt and to get your life back.

While you have the option of debt settlement or debt management to help you straighten out you finances, some would argue that filing for Chapter 7 bankruptcy in Chicago is the most logical option of all as it can help you eliminate debt and start over with a clean slate.

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