Bankruptcy Law Firm Semrad Files Its Own Chapter 11 Plan

Semrad Law Firm, a Chicago-based consumer bankruptcy firm that also known as DebtStoppers, submitted its own Chapter 11 reorganization plan, vowing to “devote all of its projected disposable income” to paying creditors.

Semrad filed Chapter 11 in April and reported $3.1 million in secured debt owed to Old National Bank. The reorganization plan, filed Tuesday in the US Bankruptcy Court for the District of Delaware, calls on the debt to be paid in full through quarterly payments starting in 2025.

The company also reported $3.2 million in unsecured debt.

The firm said it has worked on more than 100,000 consumer ...