Unfortunately, Caterpillar Inc. has initiated a new round of layoffs as families are preparing for the upcoming holiday. An undisclosed number of employees received notices yesterday as part of cost saving measures on the part of the struggling company. According to a company spokesman, those affected may be placed in other available positions, while others will receive severance packages and outplacement services in order to find work. These days, manufacturing jobs in the U.S. can be … [Read more...]
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Peoria Illinois Chapter 11 Business Bankruptcy Lawyer
During the last recession, hundreds of thousands of companies went bankrupt in the U.S., but some of them were able to recover. Economists claim that Chapter 11 bankruptcy is one reason our economy bounced back faster than some others. The U.S. system of second chances is seen as our economy's secret weapon, even prompting other countries to adopt chapter 11-style laws. While some business owners may be reluctant to file, those that do are able to wield the protection that Chapter 11 … [Read more...]
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Can a Military Member File for Bankruptcy?
Members of the military can face unique financial difficulties. Deployments, moving from one duty station to another, and other unforeseen matters can create financial hardship. Like their civilian counterparts, military members are eligible to apply for bankruptcy in order to protect their homes or other possessions, stop creditor harassment and possibly limit liability for debts accrued. Of course, members of the U.S. Armed Forces are held to the highest standard and are expected to be … [Read more...]
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