May

Blog Posts in May, 2014

  • Are SSD and SSI benefits protected in bankruptcy?

    We frequently write about both the benefits and temporary drawbacks of filing for personal bankruptcy. When individuals are struggling to cope with significant financial problems due to a sudden illness, injury, job loss or a host of other factors, ...
  • That's right. According to the Chicago Reporter, one in five vacant properties in Chicago have been empty for more than five years. These are the so-called "zombie properties;" the ones stuck in limbo in the foreclosure process. ...
  • The idea that you could possibly use credit cards for your benefit when recovering from overwhelming debt seems counterintuitive. However, if you use credit cards in responsible, intentioned ways, they may actually be able to help you rebuild some of ...
  • Why individuals get bogged down in credit card debt

    We have previously discussed the fact that the American public generally views debt differently in the wake of the 2008 economic downturn. After the economy crashed, many financially responsible Americans found themselves on the verge of foreclosure ...
  • Judge Jonathan Lippman, New York's chief judge, recently proposed a new set of rules for debt collection lawsuits filed in the State of New York. Based on the state of the debt collection lawsuits that I see filed in Illinois, I fully support ...
  • Beware of payday lenders for numerous reasons

    When you have fallen a few hundred dollars short of what you need to pay your bills, eat and put gas in your car, visiting a payday lender may seem like an appealing option. And of course, it is ultimately your choice to either sign a payday lending ...
  • Independent Foreclosure Review -- The GAO Report

    The Independent Foreclosure Review remains the biggest failure of our regulatory system. It turns out that it was an even bigger failure than previously thought. When the IFR was largely discontinued last year, the OCC stated that it was taking too ...
  • Loved ones tend to support one another, especially when times get tough. Although there is no one correct way to support another person, loved ones do tend to step in when someone they care about is struggling. Sometimes, that support is shown in the ...
  • When a student loan co-signer dies

    Many young adults opt to attend college within the first few years following their graduation from high school. At such a young age, rarely do any of these individuals have a strong enough credit score to be approved for private student loans ...