Wishing you and yours a happy and healthy new year!
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Unfortunately, COVID-19 has left many businesses in the lurch, causing many business owners no other option but to close. What is a creditor to do when a business still owes a debt, but you’re not sure if the business is still viable? Here are a few tips to consider before you continue to chase after a debtor business.
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We’ve compiled the most relevant resources put out by Illinois Courts’ relating to how they are handling COVID-19 and the changes they have made as a result.
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Frequently asked questions and answers about remote court hearings and attending court by Zoom.
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LAST UPDATED ON AUGUST 6, 2020.
The rapidly evolving COVID-19 crisis has Illinois courts limiting their operations. In an effort to provide you with the most up to date information on how changes at Lichtman Eisen Partners and within Illinois’ courts and state government offices may impact you, we have compiled a list of resources, as well as Frequently Asked Questions and their answers.
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Until further notice, court hearings will take place over Zoom. Here are our top tips on how to prepare for and attend your upcoming virtual court hearing.
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On behalf of Lichtman Eisen Partners, Ltd. I have written a letter to the Illinois Congressional Delegation, Senator Duckworth and Senator Durbin, to urge them to revise and strike prohibitions on debt collection from the recently passed “COVID-19 HERO Act.”
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As restaurants saw their revenues plummet and the usual monthly bills, like rent, continued to roll in, they began to panic. Hitz Restaurant Group (Hitz), a multi-concept restaurant operator based in Chicago, was one of them. The restaurant group leased space from Kass Management Services, Inc. (KSM) and on February 24, 2020, filed for Chapter 11 bankruptcy protection from its creditors, KSM, citing the loss of sales from the COVID-19 pandemic as to why they were unable to pay rent.
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As COVID-19 spreads around the world, businesses are facing unprecedented economic and operational challenges. Despite the rapidly evolving and unusual circumstances this pandemic has created, it is still possible to be proactive in collections. Follow these three tips to increase your chances for success and get paid what you are owed today.
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Deny. Delay. Do Not Pay. Things can be frustrating when a debtor is clearly trying to evade paying their bills. But, once you can identify and understand these tactics, you can figure out what next steps you can take to go about professionally collecting on those debts.
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