Tag Archives: Chicago Debt Relief Lawyers
Of Bankruptcy And Taxes
In Wetmore v. Markoe (1904), Supreme Court Justice William Day summed up the intent and purpose of the Bankruptcy Code when he wrote that “Systems of bankruptcy are designed to relieve the honest debtor from the weight of indebtedness which has become oppressive, and to permit him to have a fresh start in business… Read More »
The Comeback Trail
Bankruptcy blog sites are often replete with posts about recoveries from bankruptcy; for example, Abraham Lincoln, Cyndi Lauper, and Larry King all filed bankruptcy and they turned out alright. Their stories, and others like them, are both true and inspiring, and they show us that bankruptcy is a fresh start in the game as… Read More »
Rebuilding Credit After Bankruptcy
Some people put off bankruptcy, or refuse to file altogether, because they are afraid it will “ruin their credit.” But, to be blunt, their credit is already “ruined,” in many cases. Negative information, like past-due mortgage payments or automotive repossessions, stays on credit reports almost as long as a bankruptcy filing. Furthermore, by following… Read More »
What Kind Of Bankruptcy Is Right For You?
The underlying purpose of the Bankruptcy Code is to give the honest but unfortunate debtor a fresh financial start. Some people are burdened with unsecured debt, like credit cards and medical bills. Typically, debtors in these situations want to eliminate this debt as quickly as possible and start rebuilding their credit. Other people are… Read More »
Former ITT Tech Students Begin Student Loan Strike
A few debt-ridden former students of the now defunct for-profit college are taking a stand against high student loan payments by intentionally refusing to make payments. More than 100 people announced the joint effort in a letter to President Barack Obama and Education Secretary John King. Despite the former college’s assurances that nearly three-fourths… Read More »
How to Obtain a Tax Lien Release in Illinois
It should come as no surprise that failing to pay your taxes in the United States can land you in a world of legal trouble. Penalties for failing to file or pay taxes on time can be stiff and often include fines, monthly late fees, and interest charges. If you do not pay your… Read More »
Student Debt Relief Scams
Are you struggling to make your monthly student loan payments? If so, you are not alone. Young Americans are carrying an unprecedented amount of student loan debt and many borrowers are having a hard time keeping up with their loan payments. Unfortunately, scam artists are capitalizing on this situation by running ads offering student… Read More »
Be Warned: IRS and Debt Relief Phone Scams Are on the Rise
According to an article in The Times of Chester County, IRS and debt relief phone scams are on the rise. Phone scams come in variety of different forms, but often involve a foreign phone call placed to a target in the United States. After answering the phone there is generally a pause and maybe… Read More »
Property Taxes Expected to Increase in Chicago to Mitigate City’s Impressive Debt
According to Chicago’s 2015 Comprehensive Annual Financial Report, our city’s debt has more than tripled since 2014 and now has unfunded liabilities totaling nearly $24 billion. Without significant pension reforms and spending reductions Chicago’s debt will undoubtedly continue to grow. While city and state officials are pursuing a variety of policies aimed at mitigating… Read More »
Debt Management Plans: A Viable Alternative to Bankruptcy?
Unfortunately, the debt relief industry is filled with scammers looking to make money off of people who are deep in debt and desperate for a way out. However, there are reputable nonprofit credit counseling services out there that will evaluate your current financial situation, explain the debt relief options available to you, and more… Read More »
