Idownloadndeed, bankruptcy MIGHT be a solution…but the real issue is, as it has been for a few years now and will continue to be for many years to come, the over generousness of government institutions vis-à-vis the pensions handed out to their employees. It all might have looked good on paper when drafted in the legislature (and probably written to help get some politician(s) re-elected), but it’s now a major, major albatross. Pension fund managers everywhere, take note: invest better — though you are undoubtedly trying — or people may soon talk about how your fund needs to go bankrupt.

http://abc7chicago.com/education/state-rep-suggests-chicago-public-schools-should-declare-bankruptcy/773620/

For information about consumer bankruptcy (that’s Chapters 7 and 13), visit http://www.kinglawcenter.com

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