The economy may be showing some signs of improvement, but the outlook remains bleak for many Illinois homeowners. The Land of Lincoln has one of the highest home foreclosure rates in the country. One in every 663 housing units in the state received a foreclosure notice in December. Many homeowners fell behind on payments due to a job loss, sudden illness, portfolio reversal or other temporary income loss.
If you are currently considering debt relief through the liquidation of personal assets by petitioning for Chapter 7 bankruptcy protection, federal law mandates that you first seek pre-bankruptcy credit counseling and post-filing debtor education.
You have reached your breaking point. You are in over your head and have decided that filing for bankruptcy may be your only recourse. It has come down to the wire. You can no longer successfully handle your growing debt and need relief.
Your best option is to contact an experienced bankruptcy attorney in your area but until your scheduled consultation, the following information may provide you a headstart.
A recent article published by the Association of American Retired Persons Bulletin (AARP) exposes a new crisis in our country. It appears that seniors are under siege due to delinquent property bills and haunted by credit collection agencies ready to either secure the debt or take control of the home through a tax lien foreclosure.
You fought the good fight, but it was not enough. Due to financial hardship your family home has gone into foreclosure status and you are now facing eviction in your home state of Illinois. Not only are you reeling from the emotional pain associated with losing your home but you are also regretting not contacting an experienced foreclosure attorney at the onset of your financial difficulties. Now you are left wondering what happens next.
Americans have lots of debt. Not all debt is bad, but if you land in a tough financial situation, debt can feel like an invisible weight around your neck. Enter the debt collector. This post discusses how to understand and communicate with debt collectors:
Many news reports from the last few months have talked about the “fiscal cliff” and how badly consumers and businesses would be affected by increased taxes. At the last moment, Washington came to an agreement about how the tax breaks would be handled, if that meant modifying them, extending them or letting them expire at the end of 2012. One tax measure included the decision was the Mortgage Forgiveness Debt Relief act of 2007.
Lenny Dykstra had a career in baseball that spanned more than a decade with the Philadelphia Phillies and the New York Mets. He was named to multiple all-star games and served as a catalyst for the Mets winning the World Series in 1986. Yet his personal life has not seen the same amount of success. The 49 year old Dykstra has served time for grand theft auto and exposing himself to a woman
As the economy worsened and more people began looking for relief, debt settlement companies that claim to provide student loan settlement started to crop up across the country. Currently Americans owe more on student loans than they do on their credit cards. As a result, companies are expanding into so-called student loan settlement services.
Are these companies really a legitimate option to for erasing student debt?
With thousands of bankruptcies filed daily due to the mortgage meltdown and recession, bankruptcy attorneys in Crystal Lake, Illinois – and those across the nation – find themselves competing for business. As a result, slick advertising publicizing inferior “bankruptcy mills” has flooded daytime television with loud commercials and crammed in-boxes with unwanted spam.