Blog Posts in November, 2012

Breaking Down Chicago Bankruptcy: Is Filing Your Best Option?

Individuals who are struggling to pay off debt have difficult decisions to make on a daily basis. If you do not earn enough income to pay off your debt and continue to pay your rent or mortgage on top ...
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What Does Elizabeth Warren Appointment to Banking Committee Mean for Chicago Bankruptcy?

Elizabeth Warren (D) won the Massachusetts Senator election race over Republican incumbent Scott Brown in November, and many believe she would be a natural fit for the powerful Senate banking ...
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Bankruptcy Filings Down in 2012; Chicago Bankruptcy Attorney Hopes it is Sign of Improving Economy

Personal bankruptcy filings in 2012 have decreased from 2011, according to statistics from the United States courts. The number of personal bankruptcies in the one year period, ending on September 30, ...
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Chapter 7 and Chapter 13 Bankruptcies

Personal bankruptcy is a difficult process for someone to go through, but many people are scared because they simply do not know what the process is like and how it will affect their lives. Gathering ...
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Healthcare Costs, Medical Debt and Bankruptcy

With the recent federal healthcare mandate, many people think that medical bankruptcy will become a thing of the past. Hopefully this will be true in the future, but that provides little comfort to ...
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Do Not Lose Sight of Financial Obligations during Divorce

A divorce is a very troubling and trying time for couples, financially and emotionally. Unfortunately, persons going through a divorce can lose sight of long term finances and just try to get the ...
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Will Congress Adjust the AMT to Avoid Fiscal Cliff?

Following the November election, many media pundits and experts are warning of the impending "fiscal cliff" expected to hit the country in early 2013. The term is used to describe a series of enacted ...
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Obama Tweaks 'Pay as You Earn' Program

On November 1, President Barack Obama put the final touches on the Pay As You Earn program for the repayment of student loans. It is an Income-Based Repayment (IBR) that is applicable for federal ...
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Creditors of Student Loans Go after Co-Signers

Katy Stech of the Wall Street Journal recently wrote an editorial about Kristina Pietras, a student who became burdened with student loan debt before dropping out of the University of Toledo. Various ...
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Four Things to Remember About FTC Rules on Debt Relief

According to an October 23, 2012 WVTM-TV article, it has been two years since the Federal Trade Commission (FTC) implemented new rules regulating the debt relief industry. WVTM noted that consumers ...
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Mayor Emanuel Critical of Governor Quinn Appointee Who Filed Bankruptcy

This Illinois Statehouse News video features Governor's Office of Management and Budget spokeswoman Kelly Kraft, who Governor Pat Quinn chose to be executive director of the Illinois Sports Facilities ...
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Which Workers Will Be Commanding Higher Incomes in 2013?

The Chicago Tribune reported on October 4, 2012, that technology, finance and administrative workers are among the professionals who are likely to be making more money next year. A report from ...
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Obamacare May Reduce Some Large Medical Bills, But Not Everybody Can Be Protected

A Harvard study published in 2005 found that nearly two-thirds of bankruptcies were linked to illnesses and medical bills. "The cost of health care now causes a bankruptcy in America every 30 ...
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