As part of Caterpillar's planned workforce reduction, an undisclosed number of employees in Peoria received layoff notices earlier this week. Although the company says they are committed to helping impacted employees transition to other jobs within or outside the company, for many families who are stretched thin as it is, the impact of being out of work even for a short period of time will prove difficult. Not surprisingly, unexpected layoffs across the country have resulted in many … [Read more...]
Archives for August 2016
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Will Filing Bankruptcy Effect My Employment?
If you are planning to file for personal bankruptcy, you may be concerned that it will affect your employment. You may be worried about negative consequences if your current employer finds out about your Chapter 7 or Chapter 13 bankruptcy or that you will be denied employment from a potential employer. In most cases, you can rest assured that bankruptcy will not affect your current employment. The law prohibits your employer - government and private - from discriminating against you because … [Read more...]
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Preparing for Your Initial Bankruptcy Consultation
At Charles E. Covey Law Firm, we take time to understand your unique financial situation in order to determine what is the best strategy for you, which may include Chapter 7 or Chapter 13 bankruptcy. The more we understand about your financial circumstances, the better we can help. When preparing for an appointment with a bankruptcy attorney, taking the time to gather your financial information will be helpful in determining the right strategy for you and your family. Providing pertinent … [Read more...]
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Payments or Transfer of Property Prior to Filing Bankruptcy
Your financial activity prior to filing for bankruptcy protection may come under scrutiny with regard to payments made to certain creditors or the transfer of property. The clawback provision in bankruptcy allows a trustee to void transactions that are deemed preferential to certain creditors or recent transfers of property out of your name for the benefit of recovering that money and property for all of your unsecured creditors. In general, payments or transfers made within 90 days of … [Read more...]
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