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Category: Illinois - page 3

There’s a new reason to be stressed about phone calls from debt collectors: a growing number of debtors are being scammed into paying off debts they don’t owe by phantom debt collection agencies. Thousands of Americans have reported receiving calls from fake debt collectors, according to the Federal Trade Commission. In response, the FTC has… Read More »

For many debtors, Chapter 13 bankruptcy is truly the most effective way to find lasting debt relief. But in the three to five years it takes to work your way through a Chapter 13 repayment plan, your financial situation may change, whether you get married, switch jobs or – as many folks unfortunately do -… Read More »

No one gets away with lying on a bankruptcy schedule – not even celebrities. The proof: Teresa and Joe Giudice, stars of the Real Housewives of New Jersey, recently confessed in a federal court to committing bankruptcy fraud by neglecting to list income and assets. Sources say the couple lied about Teresa’s income from the… Read More »

With tax day fast approaching, many folks are understandably concerned about their finances. In fact, one of the most common questions we get asked around this time of year is whether income taxes can be wiped out with bankruptcy. The short answer is that it depends. Federal and state income tax debt can indeed be… Read More »

Debt is big business. Companies and individuals use your debt as way for them to make money, but tend to leave you in further debt. Debt consolidation loans in Illinois, which compile all of your debt into one monthly payment, are often used in this manner. These loans lure homeowners into using their houses as… Read More »

Having wages garnished can be devastating. In this tough economy, many people are struggling to meet their basic living expenses and simply don’t have enough income left over to pay off their debts. Creditors typically use wage garnishment in Illinois as a final attempt to collect outstanding debts. During this process, you can no longer… Read More »

For most people, having a car is a necessity, not a luxury. We use our cars for work, to transport our children to school and to run other important errands. Without a car our already complicated lives become even less manageable. If you fall behind on your car payments, your lender can repossesses its collateral,… Read More »