Federal officials are taking steps to stop abusive bill collector harassment. For example, this week, the Federal Trade Commission will reportedly be announcing that they are taking action against a company that fraudulently sought debt payments through a call center in Indiana.

In addition, the Consumer Financial Protection Bureau recently created a proposal for regulations that would tighten rules against debt collectors. According to the Federal Trade Commission, the bill collection industry receives more complaints from consumers than any other industry in the U.S.

The average American owes $1,400 in debt. Current laws prohibit debt collectors from using harassing or threatening language and calling a person at work.

To learn more about stopping debt collector harassment, contact the Chicago bill collector harassment lawyers of the Law Offices of Stuart B. Handelman, P.C. by calling 312-360-0500 today.

Former TLC member T-Boz, born Tionne Watkins, had her third bankruptcy filing tossed out last week. Creditors proved to the judge that the singer was not participating enough in resolving her bankruptcy.

For instance, the singer was accused of not attending negotiation meetings with creditors or filing certain paperwork needed for the bankruptcy. Now, Watkins must wait until July, or at least 180 days after her case was dismissed, to refile, if she chooses to do so. Until then, creditors are able to repossess the singer’s assets.

T-Boz filed for Chapter 13 bankruptcy in October with approximately $700,000 in unresolved debts, after a case she filed the February before was thrown out. She also filed for Chapter 11 bankruptcy in 1995 as a part of the girl group TLC.

If you or someone you know is considering filing for Chapter 13 bankruptcy, contact the Chicago Chapter 13 bankruptcy attorneys of the Law Offices of Stuart B. Handelman, P.C. by calling 312-360-0500 today.

Hull House, a Chicago charity organization providing care, counseling, and job training to families, foster children, and domestic violence victims for 123 years, recently filed for Chapter 7 bankruptcy. With the filing, the charity will liquidate and go out of business.

According to the bankruptcy filing, the Jane Addams Hull House Association has between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. In addition, the organization lists between 200 and 999 creditors in their Chapter 7 filing.

Hull House plans to close by the end of next month. Services provided by the charity will be adopted by the Chicago Housing Authority and the Illinois Department of Children and Family Services.

If you have questions about filing for Chapter 7 bankruptcy as a business, contact the Chicago Chapter 7 bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500 to learn more about the Chapter 7 bankruptcy process.

67-year old actor Gary Busey filed for Chapter 7 bankruptcy in California yesterday.  Busey has appeared in more than 70 films, but most recently has been taking to reality television shows like “Celebrity Apprentice,” “Celebrity Rehab,” and “Celebrity Wife Swap.”  In a statement released by his publicist, Busey compares his bankruptcy to that of General Motors and American Airlines, and says that filing for Chapter 7 bankruptcy gives him a “new and clear path toward peace, happiness, and success with his career.”

Bankruptcy documents show that the actor has debts of $500,000 to $1 million and assets of less than $50,000.  Busey names several creditors in his filing, including the IRS, L.A. County Waterworks Districts, UCLA Medical Center, Wells Fargo, and some of his lawyers.  Some reports suggest that the actor may also owe money to a woman who claims he attacked her at an airport in Tulsa.

Contact the Chicago Chapter 7 bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500, if you or someone you know would like to learn more about the advantages of filing for Chapter 7 bankruptcy.

Chicago’s ShoreBank Corp. filed for Chapter 11 bankruptcy earlier this month.  The bank is a holding company that also has locations in Detroit and and Cleveland.

In an agreement with the Federal Deposit Insurance Corp., ShoreBank was required to increase their capital by a certain amount and within a certain time frame.  In August 2010, when the bank did not meet this requirement, it was forced to close and sold its assets to Urban Partnership Bank.

Now, the company seeks bankruptcy protection, listing $19.2 million in assets and $63.5 million in debts.  ”Many of the bank’s lending neighborhoods in Chicago, Cleveland and Detroit experienced and continue to experience some of the nation’s highest unemployment rates.  Record levels of foreclosures have devastated many of these neighborhoods and real estate values have dropped significantly,” said ShoreBank CEO George Surgeon.

If you or someone you know is struggling financially and considering filing for bankruptcy, contact the Chicagoland bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500 to learn more about your options.

In 2011 there were 16 percent fewer bankruptcies filed in central Illinois than in 2010.  Officials said that last year’s total bankruptcy filings in central Illinois was the lowest total number of filings for the region since 2007.

According to the U.S. Bankruptcy Court for Central Illinois, 8,821 bankruptcies were filed in central Illinois last year.  In 2010, 10,498 bankruptcies were filed in central Illinois.

The majority of the bankruptcies filed at the court in Springfield were Chapter 7 bankruptcies.  More than 7,000 people filed for Chapter 7 bankruptcy in central Illinois last year, while only about 1,700 filed for Chapter 13 bankruptcy.

If you or someone you know has questions about the benefits of filing for Chapter 7 bankruptcy in Chicago, contact the Chicago Chapter 7 bankruptcy attorneys of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500 to discuss your situation with one of our experienced bankruptcy lawyers.

Last week, sources revealed that former State Representative Ron Stephens filed for Chapter 13 bankruptcy.  Stephens represented Illinois’s 102nd district, and suddenly resigned in August, 27 years after he was elected for the first time.

According to court documents, Stephens filed bankruptcy papers in May 2011, about 3 months before resigning.  The legislator cited redistricting as the reason for his resignation–not any financial problems.

Stephens and his wife reported assets of $572,000 and liabilities of $615,000 in their Chapter 13 filing.  The two submitted a repayment plan that was approved in September and allows them to pay off their debts with $4,025 monthly payments over a 5-year term.

To speak with an experienced bankruptcy attorney about reorganizing your finances under Chapter 13 bankruptcy, contact the Chicagoland Chapter 13 bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. by calling 312-360-0500 today.

Statistics from the Federal Trade Commission illustrate how serious a problem bill collector harassment can be for many Americans.  According to the agency, complaints about bill collector harassment have tripled since 2002.

In 2010, the FTC received more than 50,000 complaints about severe bill collector harassment.  This is 25 percent more than the amount of complaints the agency received just a year before in 2009.

From 2009 to 2010, the FTC experienced a 22 percent increase in complaints about bill collectors using abusive, obscene, or offensive language to a total of 18,000 grievances.  Moreover, more than 4,000 people issued complaints that a bill collector had threatened to use violence if they did not pay back their debts.

If you or someone you know has been the victim of bill collector harassment, contact the Chicago bill collector harassment attorneys of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500 to learn more about how we can help defend you.

Last year, bankruptcies filed by publicly traded companies decreased for the 3rd consecutive year.  These bankruptcies include both Chapter 11 and Chapter 7 filings filed by large firms.

Businesses file for Chapter 11 bankruptcy when they want to reorganize and pay off creditors in order to continue operations.  In contrast, a company will file for Chapter 7 bankruptcy when they want to stop operations and go out of business.

Only 88 public companies in the U.S. filed for Chapter 11 or Chapter 7 bankruptcy in 2011–the lowest amount since before the economic recession hit in 2008.  Last year’s filings by publicly traded companies were 17 percent fewer than in 2010 and 58 percent fewer than in 2009.  On average, assets listed in public companies’ bankruptcy filings last year were $1.2 billion.

If you or someone you know would like to learn more about filing for Chapter 7 bankruptcy, contact the Chicagoland Chapter 7 bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. by calling 312-360-0500 today.

Earlier this month, famous sports agent Leigh Steinberg filed for Chapter 7 bankruptcy at the U.S. Bankruptcy Court in Santa Ana, California.

The film “Jerry Maguire” and Tom Cruise’s character were inspired by Steinberg.  The sports agent has represented athletes like Oscar De La Hoya and Troy Aikmen.

According to court documents, Steinberg recently failed to appear at court for a hearing concerning $1.4 million in debt related to property he leased in Newport Beach.

The agent’s bankruptcy filing lists assets in the range of $1 million to $5 million.  Steinberg said that his struggle with alcoholism and an employee loan were two main reasons for his need to file for bankruptcy.

Contact the Chicago Chapter 7 bankruptcy attorneys of the Law Offices of Stuart B. Handelman, P.C. by calling 312-360-0500, if you or someone you know has questions about filing for personal bankruptcy.