Bankruptcy
Bankruptcy laws are complex and constantly changing. Creditors and debtors need an experienced attorney who is familiar with all aspects of bankruptcy and who is committed to protecting their rights and interests.
The dedicated bankruptcy attorneys at Katz, Huntoon & Fieweger, PC have represented creditors, debtors, and trustees in bankruptcy adversary proceedings for decades. Our countless cases have taken us to bankruptcy courts in Rock Island, Davenport, Peoria, Springfield, Rockford, Des Moines and St. Louis.
Collection help for creditors
In business, getting paid is vital to survival. When a customer files for bankruptcy, it does not have to mean a total loss for your business. Insightful work by a qualified attorney could help you recover a significant amount of money and help reduce your loss.
Small, regional, and national corporations trust our firm to help obtain maximum value. The firm has counseled and represented creditors in bankruptcy courts on issues ranging from the priority of claims to those involving the assumption and rejection of real property leases.
The firm has experience representing court-appointed receivers and trustees, creditors’ committees, and financial institutions.
Help for debtors
Katz, Huntoon & Fieweger, PC understands the stress that financial problems cause for businesses, individuals, and their families. The firm provides solid solutions to ease transition through difficult financial times.
With a carefully tailored strategy, our firm helps protect clients’ rights and property as they make a fresh start by filing for bankruptcy.
One of our trained bankruptcy attorneys can apprise you of the pros and cons of business or personal Chapter 7 or Chapter 13 filings, as well as Chapter 11 reorganizations. As necessary, we can also help you file your case, handle related commercial litigation in federal bankruptcy court, and deal with your creditors.
Types of bankruptcy
Chapter 7 and Chapter 13 are the most common consumer bankruptcy types. Chapter 7 involves liquidation and distribution of assets to creditors. Chapter 13 involves rehabilitation and government protection.
Under the Bankruptcy Abuse Prevention and Consumer Protection Act that took effect October 17, 2005, many cases that once were eligible for Chapter 7 relief now have to be filed as Chapter 13 bankruptcies. This requires debtors to pay back a portion of their debts through a Chapter 13 plan. Additionally, debtors are required to complete a course in financial management prior to getting a Chapter 7 discharge.
Chapter 11 bankruptcy is most often chosen by businesses and partnerships. Its reorganization provision is much more flexible than other types of bankruptcy, but it is usually more costly. The debtor remains in possession of assets and continues to operate under court supervision. A creditors committee is appointed, and a Chapter 11 plan must be approved by creditors.
If you are in financial trouble or are contemplating bankruptcy, it is vital that you speak to an attorney who knows your options under bankruptcy laws.
Our bankruptcy attorneys are:
You talk. We listen.
Call us at (309)797-3000 or contact Katz, Huntoon & Fieweger, PC online. We fully analyze your issues and concerns, answer your questions, and provide a no-nonsense recommendation for your best course of action.
From our office in Moline, IL, we assist clients with a wide range of legal issues throughout the Quad Cities region:
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