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How to Stop Living Paycheck to Paycheck — 5 Tips to Getting Back on Track Financially

Despite the news of economic recovery from the Great Recession, 43 percent of U.S. households would be unable to pay their bills if they went just one month without a paycheck, according to the Springleaf Financial Strength survey. These households are just a paycheck away from financial disaster. If you are part of one of… Read More »

Is it Possible to Discharge Student Loan Debt in Bankruptcy?

If you feel mired down in student loan debt, you are in good company. According to the Institute for College Access & Success, in 2012 the average debt for graduating seniors from private, non-profit colleges was $32,300. Those graduating from for-profit colleges had, on average, $34,950 in student loan debt, which is up 26% from… Read More »

Bankruptcy and Why You Shouldn’t Be Relying on Your Tax Refund

If you’re like many Americans, you’re looking forward to using your annual income tax refund to make a once-per-year payment on your debts. It’s always a positive step to pay down debt, but it’s a big mistake to treat your tax refund like some sort of “annual bonus.” Your tax refund is not a bonus;… Read More »

Bankruptcy and Retirement — How to Create a Sound Financial Future

Many baby boomers are struggling with credit card debt, most likely because their income is much lower than when they were working, but their expenses may not have decreased much. They may be facing high prescription and medical care costs, and any financial emergency seems magnified when you are living on a fixed retirement income…. Read More »

Overwhelmed by Debt? Stop Ignoring Your Mail & Do This Instead

Are you feeling overwhelmed by a mountain of debt? If you have reached the point where you feel hopeless about your ability to ever pay it off, then read on to discover some vital action steps you can take to get back in control. Stop ignoring your mail. A common reaction to large amounts of… 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 »