August

Blog Posts in August, 2014

  • Securing a credit card is possible after bankruptcy

    Illinois residents who have gone through bankruptcy may wonder how it will affect their ability to get a credit card. While it may take some time to build up trust again, lending institutions and banks may be willing to provide credit. There are ...
  • Study finds bankruptcy effective against foreclosure

    Illinois readers may be interested in the findings of a university study regarding the effectiveness of bankruptcy actions in forestalling or avoiding home foreclosure. The study, conducted by the UNC Center for Community Capital, concluded that ...
  • Understanding discharge dates in different bankruptcies

    An Illinois resident may be eager to see their debt gone when filing for bankruptcy, but the discharge rules can be different based on the type of bankruptcy filing in progress. Chapter 13 involves an adjustment of payment terms for up to five years, ...
  • How to use bankruptcy to delay foreclosure

    For Illinois homeowners who are facing foreclosure, bankruptcy may be a powerful tool to stave off any action by a lender to take their home away. The best reason why bankruptcy may be useful is because an automatic stay of the foreclosure occurs ...
  • The Department of Justice took a lot of flak for failing to prosecute the banks whose mortgage lending practices contributed to the collapse of the housing market and the resulting recession. Other regulatory efforts have been similarly maligned by ...
  • According to the Chicago Tribune, the formula used to determine FICO scores is being changed to minimize the negative impact of bad medical debts. The change will also lessen the effect of old, paid-off debts. Consumers whose bad credit scores are ...