How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JoeLawyer Your Own Question
JoeLawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 767
Experience:  Attorney in the practice of Bankruptcy Law since 1996
Type Your Bankruptcy Law Question Here...
JoeLawyer is online now
A new question is answered every 9 seconds

I leased a felder sliding tablewith a one dollar buyout. I

This answer was rated:

I leased a felder sliding tablewith a one dollar buyout. I leased this thru IFC. about 6 months ago I was notified to start sending my payment to U.S.BANK. I received notice that IFC is in chapter 7 bankruptcy. what does this mean to me or what do I have to do. Tonite I just received a proof of claim form
It probably doesn't mean anything to you except that your new creditor is now U.S. Bank instead of IFC.

I am just speculating, but IFC probably owed money to U.S. Bank, so when IFC filed bankruptcy, U.S. Bank probably acquired IFC's accounts receivable. So, now everyone who used to owe IFC now owes U.S. Bank. Again, that's a guess, but an educated one based on what you indicated in your question.

I suggest you follow any instructions the Bankruptcy Court gives you. If you have questions, you can usually call the U.S. Trustee to get help.

The U.S. Trustee office that I think is overseeing the case is:

Office of The United States Trustee
219 S. Dearborn Street, Room 873
Chicago, IL 60604

Phone:(NNN) NNN-NNNNbr />Facsimile:(NNN) NNN-NNNN

You can call and give them the Case Number (which I think is 09-27094) and they can help you. They cannot give you legal advice but they can help you understand what's going on.

I hope this helps!


LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.
JoeLawyer and 2 other Bankruptcy Law Specialists are ready to help you