Our experience as a Schaumburg bankruptcy lawyer helps you
If you're thinking about filing for bankruptcy but don't know if it is the right step for you, ask yourself these questions:
Filing for bankruptcy immediately ends the harassment and stress caused by accumulating debts. Pursuant to the automatic stay, creditors and tax collectors must stop calling you. In addition, filing for bankruptcy stops foreclosure on your house and business.
Attorney Redfield offers bankruptcy assistance to both individuals and businesses. His services include corporate dissolutions and assignments for the benefit of creditors and all chapters of bankruptcy.
Chapter 7 Bankruptcy: This form of bankruptcy is for individuals or corporations in need of serious debt relief. You can get a fresh start without the sale of assets.
Chapter 13 Bankruptcy: Often called a regular income plan, a Chapter 13 case establishes a repayment plan to prevent the loss of your house and property. It also can be used to repay tax debt.
Chapter 11 Bankruptcy: A Chapter 11 case is filed by corporations or individuals that typically have too much accumulated debt. It requires a disclosure statement and a plan of reorganization and results in the restructuring of your business and debt. It may also be used by individuals who have exceeded the debt limits for a chapter 13 case.
Contact the law firm of John H. Redfield & Associates and discover the freedom of debt relief.
The Township of Schaumburg IL was initially called Sarah's Grove. A grove of woods that ran through the northwestern part of the township was the namesake of the community. However, it wasn't until 1851 that the name was made official. Until that time, the official name of the community was Township 41. At a Township meeting in 1850, the discussed two names for the Township, which were Lutherburg and Lutherville. During the middle of the meeting, a prominent German landowner named Frederick Nerge, slammed his fist down on the table and shouted Schaumburg ichall et heiten!, Which translated from German to It will be called Schaumburg!. With this outburst, a consensus was reached on the official name of the community.
This name that was selected originated from Schaumburg-Lippe, which was the part of Germany where many of the residents of the community were from. Many of these German pioneers were from the Hanover or Hesse-Kassel districts. However, apparently those from the Schaumburg region had more influence in the affairs of the community.
During the early days, the Township of Schaumburg flourished. The primary occupation in the region was farming, with the primary sources of income coming from raising cattle, dairy farming, and growing potatoes. A small market area emerged at what is currently known as the intersection of Roselle and Schaumburg Roads in 1858. The Schaumburg Center functioned as the central service district for the surrounding producers of agricultural products. By this time the community featured s blacksmith shop, a wagon maker, a tailor, a cobbler, four cheese factories, and two general stores.
The intersection of the major railroad lines and next to the Fox River Valley is where the majority of the early growth in the Northeastern area of Illinois occurred. However, the community remained rather isolated because neither of these transportation networks served the Township of Schaumburg. There weren't many roads and those that existed were often impassable. Schaumburg farmers had to travel some 27 miles by horses or oxen in order to reach the marketplace in Chicago.
In 1956 the community was incorporated in response to developmental pressures, and the region that encompassed what was known at the time as the Schaumburg Center. At the time of the incorporation, the community had a population of 130 people and was comprised of two square miles in area. Incorporation allowed the community to control its development and growth. The early community leaders are credited with the planning and foresight and planning, which has made later economic growth possible. The initial comprehensive plan adopted by the Village Board in 1961, reserved large tracts of land for office, industrial, and commercial development. Growth in these sectors has made the community the second largest retail center in the state and the major employer in the region.
There was a continuation of the incredible growth that occurred during the 1970's. The population of the community had increased to 18,730 people by 1970. Also in 1970, another expressway, which was Interstate 290, opened on the easternmost boundary of the community. This enhanced its stature in the eyes of many of the developers in the region and also offered an additional link to Chicago. In 1971, the Woodfield Mall shopping center opened in Schaumburg. Schaumburg experienced tremendous residential, industrial, office and commercial development during the remainder of the decade.
The population of Schaumburg had increased to 53,305 people and the land area had expanded to 18.3 square miles by 1980. Between the early and middle 1980's, development in the community focused on the emerging Woodfield Regional Center next to Golf Road and large corporate office buildings. The late 1980's dealt with the very large expansion of small warehouse and manufacturing uses in the business and industrial parks in the southwest and northeast quadrants of the community. Other development that includes large suite hotels, commercial retail centers, and large manufacturing facilities thrived during the 1980's.
The population of Schaumburg started to slow down, although still increasing, because the property available for residential development was quickly becoming scarcer by 1990. In 1990, the population had only increased to 68,586 people, which was an increase of only 15,281 people since 1980. It was apparent that Schaumburg was coming close to a residential buildout and that future residential increases would be decreasing, although this was still an impressive growth rate.
Also slowing during the 1990's was the development of office space. The once flourishing office market decreased as the result of the limited demand by the usual users in the real estate, insurance, and financial sectors and the large supply of office space in the northwestern suburbs. However, during this period, the commercial market in Schaumburg experienced considerable expansion. Schaumburg had experienced the development of two million square feet of commercial space that included many different retail uses since 1990. A bright future was also reflected by the expansion of the Woodfield Mall, which included about 500,000 square feet of commercial space to accommodate several retail stores as well as a Nordstrom department store. In the late 1990's, an internationally known home furnishings store, known as IKEA, opened a 458,000 square foot facility in the Woodfield Regional Center.
Continued growth is anticipated as Schaumburg enters the 21st century, although at a somewhat pace than in past years. Because there isn't much residential property remaining, minimal residential expansion is anticipated in both the multiple family and single family is expected. In 2000, the population of Schaumburg was 75,386 people. Throughout the 1990's industrial development has remained steady with activity increasing between 1996 and 1997. Most of the industrial development is expected to occur in the Copley Center, Woodfield Business Center, and the Spectrum Industrial Park. Future redevelopment is anticipated to occur around the proposed Star (Suburban Transit Access Route) transit stop, proposed to be located north of the Windy Point Office Park and the IKEA next to the Northwest Tollway and south of the Walden International PUD.
Find One who Knows the Other Side
In addition to representing debtors for over 30 years, John Redfield served as a bankruptcy trustee, representing the Schaumburg bankruptcy estates for 15 years. His knowledge of both sides of bankruptcy allows him to more effectively represent those in need of debt relief. Put this knowledge to work for you.
John H. Redfield and Associates is ready to help you get relief from the burden of uncontrollable debt, so contact a bankruptcy attorney today for your own personal consultation.