Blog Posts in October, 2012

More Consumers Refuse to Be Cleaned Out by 'Messy Business' of Debt Collection

Dr. Chris DeRitis, a consumer credit expert at the economic research and consulting firm Moody's Analytics, told the Times-Tribune of Scranton, Pennsylvania, that all debt collection is under the ...
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US on Pace for 70 Percent Increase in Foreclosure Rescue Scams in 2012

This is a 2008 documentary produced by the Northwest Justice Project about foreclosure rescue scams. Four years later, these schemes remain a real problem, as the Chicago Tribune reported on October ...
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'Rich Dad, Poor Dad' Author Files for Chapter 7 Bankruptcy

This video shows Robert Kiyosaki's appearance on Oprah Winfrey's talk show in 2000 following the publication of his successful financial self-help book, "Rich Dad, Poor Dad." On October 12, 2012, ...
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Layaway Looks Attractive, But Many Plans Can Cause Ugly Problems

On Monday, we discussed the increase in seasonal work this year that could help a lot of families in the Chicagoland area during the holidays. While that additional income could make a real ...
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Survey Shows Happy Holidays Ahead for Seasonal Workers

This September 2012 video from WPRI-TV and a story published in the Chicago Tribune on October 16, 2012, shared two observations: there will be more seasonal or holiday employment opportunities this ...
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Sinking Incomes No Help for Underwater Homeowners

In discussing the thousands of Illinois homeowners needing foreclosure help throughout the week, we concluded on Wednesday by noting the benefits of filing Chapter 13 bankruptcy for homeowners who are ...
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Foreclosures Pushing Down Home Values, Nearly 250K Underwater

On Monday, we discussed some of the options available to the thousands of homeowners in the Chicagoland area and throughout Illinois needing foreclosure help. This crisis affects entire neighborhoods, ...
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Illinois AG Calls Attention to Foreclosure Assistance Programs

This astonishing interactive map from WNYC uses data from real estate information company RealtyTrac to display foreclosure rates by county across the United States. You can press play to see how the ...
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New Tool Helps Consumers Manage Credit Card Debt, Save Interest

Holiday shopping will be here before you know it, which could make some new tools on one website particularly helpful for thousands of families. The New York Times reported on October 1, 2012, that ...
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American Express Will Pay $112.5 Million For Deceiving Customers

The Associated Press reported on October 1, 2012, that American Express has agreed to pay $112.5 million in refunds and fines after a multiagency investigation of the company revealed the company ...
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Nearly One in Five Households Carrying Student Loan Debt

This CBS News video discusses the increasing number of Americans that are struggling with student loan debt. The Chicago Tribune reported on September 27, 2012, that a Pew Research Center analysis of ...
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High Costs of Getting Well Leaves Millions Worried Sick About Medical Bills

As we mentioned on Wednesday, staggering health care costs continue to be one of the leading reasons that many Americans file bankruptcy. Because anybody can get sick, medical bills affect people all ...
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Medical Bills Force US Congressman to Sell DC House

We have been recently writing about the impact that foreclosures have had on Chicagoland families, but the Washington Post reported on September 19, 2012, that Illinois' US Representative Jesse ...
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New Study Says Equipping Mortgage Servicers Better Could Have Prevented 800K Foreclosures

We spent much of last week discussing options for Illinois homeowners in need of foreclosure help, and on September 20, 2012, the Chicago Tribune reported that 800,000 foreclosures "could have been ...
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