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How Will Filing for Bankruptcy Affect My Job or Future Employment?

For many people, bankruptcy has the power to wipe out debt. But could it also wipe out your job? Debtors often erroneously believe that filing for bankruptcy will cost them their paycheck. This simply isn’t true, say bankruptcy experts. In some cases, your employer will not even find out you filed for bankruptcy. While your… Read More »

Will my creditors stop harassing me when I file for bankruptcy in Chicago?

One of the biggest benefits of filing for bankruptcy in Chicago is freedom from creditor harassment. From the minute you file, your creditors are prohibited from contacting you about your debts thanks to a legal action called the automatic stay. That means no more letters in the mail, no more harassing phone calls at home… Read More »

What if I forget to list a liability in my bankruptcy in Chicago IL?

One of the most important steps in your Chicago bankruptcy filing is submitting a comprehensive list of your creditors. Known as a mailing list or mailing matrix, this document must include every one of your liabilities. Forgetting to list just one creditor can cause problems with your bankruptcy case, and even land you in legal… Read More »

Debt Collector Scams Targeting Payday Loan Borrowers

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 »

What Happens If My Spouse and I Get a Divorce During Chapter 13 Bankruptcy?

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 »

Student Loan Debt Taking Psychological Toll on Today’s Grads

We all know that debt is hard on the bank account. But now it appears it’s also hard on the psyche. Struggling under the weight of student loan debt and credit card debt, today’s young adults are stressed and unhappy. It’s estimated that 7 in 10 college seniors now graduates with some level of student… Read More »

4 Financial Tips for Young Adults Overloaded with Debt

Never has it been more expensive to be a young adult living in America. These days, the average 20-something is living paycheck to paycheck while dealing with massive debts in the form of student loans and credit cards. With a busy schedule that can include jobs, family and school, folks in their 20s frequently put… Read More »

How Will the Chicago Debt Crisis Affect Residents Struggling with Debts of Their Own?

It’s tough enough to struggle with your own debt – but what if you were also on the hook for your city’s massive financial troubles? That’s exactly the problem facing thousands of Chicago residents today. Despite its position as an economic powerhouse in the Midwest, the Windy City is in trouble. Decades of financial mismanagement… Read More »

Middle Class Americans Living Paycheck-to-Paycheck Find Relief Through Bankruptcy

Earning a good salary, owning a home and having a retirement account – all these things used to be indicators that you were in good financial shape. But according to a new report, today’s middle-class Americans are far from comfortable. In fact, most are living paycheck-to-paycheck. A recent study presented by the Brookings Institution claims… Read More »

4 Simple Tips for Paying Off Personal Debts or Eliminating Them Completely

Nobody plans on winding up with tens of thousands of dollars in debt – yet somehow, the majority of Americans do. Sometimes it stems from using credit cards to cover unaffordable expenses like home repairs or to pay the bills during a temporary unemployment. Other times it’s a result of expensive student loans. Perhaps the… Read More »