Contact us for a free consultation Click to Call Phone 312-913-0630
Home » Blog

Recent Blog Posts

Illegal Repossession Tactics

Illinois law states the repossession of a car or truck is illegal if the consumer is not actually in default on the loan or if the creditor doesn’t have a valid security interest in the vehicle. But a valid repossession can become illegal if the repossessor used tactics that “breach the peace” when seizing the… Read More »

The Bank Bailout Means Taxpayers and Consumers Are On the Hook

The recent film The Big Short has focused America’s attention once again on the housing crisis of 2008 and the government bailout of the banks that followed. The price tag at the time was $700 billion to stabilize the banking industry. But as Forbes reported last year, the total government commitment (that is, the taxpayer obligation)… Read More »

How Millennials Are Getting Hooked on Payday Loans and Pawnshops

According to a joint study by Pricewaterhouse Coopers, or PwC, and George Washington University, 28 percent of college-educated millennials (ages 23–35) have used payday loans and pawn shops to secure short-term financing over the last five years. As reported in a January 7 article from Reuters, these millennials defy the stereotype of the alternate credit… Read More »

Why You Should Never Take a Tax Refund

If you anticipate getting a tax refund, you probably think you’ve made out pretty well. But the truth is, tax refunds almost always represent a loss for the recipient. If you’d figured your withholdings correctly, so that you break even on your taxes or owe a little at the time of filing, you’d actually have… Read More »

Naperville Mom Pulls Gun on Repo Man

Last August, the Chicago Tribune reported that a mother of two got herself into a bit of trouble when she pulled a gun on two men who were repossessing her nine-year-old minivan. The incident occurred around 7:30 pm close to the Naper Trails apartment complex where 29-year-old Katherine Reccord lives. She was charged with two… Read More »

Unlucky Thief Has Getaway Car Repossessed During Robbery

In August of last year, the Chicago Tribune reported that a Zion, Illinois, man had his car repossessed at a very inopportune time. Che Hearn, 25 years old, had planned to use the vehicle to carry about $300 worth of stolen electronics away from the Walmart store at 2680 N. Route 83. Unfortunately for Hearn,… Read More »

How Bank Overdraft Fees Punish the Poor

Last year, CNN Money reported that the big three banks in the United States – JPMorgan Chase, Bank of America and Wells Fargo – had made $1.1 billion on overdraft fees in the first three months of that year alone. Obviously, overdraft fees are a big money-maker for the banks, but who is most likely… Read More »

Keeping Your Car in a Chapter 13 Bankruptcy

Bankruptcy is an extremely useful tool for helping people move forward and get a new start on their finances. Unfortunately, many people do not take advantage of bankruptcy because of fears based on myths or misunderstandings. One of the more common reasons that people don’t file is that they are scared of losing their car…. Read More »

How to Get Debt Collectors to Stop Calling

These days, many Americans have fallen behind on some or all of their bills. People tend to believe that through hard work, budgeting and sacrifice, they will be able to get back on track and get the debt collectors to stop calling. In some cases, this may be true. For many others, however, no matter… Read More »

Knowing When to File Chapter 13 Bankruptcy

You should consider filing for Chapter 13 bankruptcy as soon as you realize your financial burden is too much to handle without help. There is no need to wait until your home is in foreclosure or your car is being repossessed. Chapter 13 is called debt reorganization because it takes all of your existing unsecured… Read More »