• How One Family Wiped Out $1,200 in Credit Card Debt, Saved $575 in Interest

    On Monday, we discussed a Chicago-based debt settlement firm that will be refunding more than $2 million to Illinois customers. The video above is a July 4, 2012, segment from WBBM-TV as part of the station’s “Survive This Economy” series. The Wright family’s story demonstrates how paying more than the monthly minimum can wipe out credit card bills in a matter of months rather than the years it would take by only paying the minimum each month.

    While paying off credit card balances as soon as possible is certainly the ideal way for consumers to manage their finances, many families in Chicago and throughout Illinois are struggling just to pay the monthly minimums. For many cardholders, unemployment or reduced income prevents them from paying more.

    If you are currently overwhelmed with credit card debt, you should know that you may be able to discharge your unsecured credit card debt by filing Chapter 7 or Chapter 13 bankruptcy . You can either use the form on this page to have us review your case or you can contact our firm at (866) 930-7482 to schedule an initial consultation.

    There is one group in particular that needs to be especially cautious about how they handle credit cards, and we will further discuss that in our next blog post.

    Benjamin Brand Services – Chicago bankruptcy attorneys

  • Proposed Ordinance Could Help Renters, Reduce Vacancies

    The video above is a CBS News segment from nearly one year ago discussing the problems foreclosures have caused in Chicago neighborhoods. As we have been discussing this week, foreclosure remains an issue for thousands of families here in the Windy City. However, the problem is not limited entirely to homeowners, as even renters can find themselves displaced when buildings are going through foreclosure.

    On July 24, 2012, the Chicago Tribune published a story that described some of the problems 36-year-old Juan Diaz faced in that situation, saying his story “is symbolic of the problems that [the Lawyers’ Committee for Better Housing] says are prevalent in Chicago.” A community group representative told Diaz that the building he and his family had been living in for five years was in foreclosure. It was after being informed that Fannie Mae had taken over ownership of the building in November that Diaz said he began receiving “unsettling phone calls.”

    “They kept calling me, telling me I needed to vacate,” Diaz told the Tribune. “They were trying to kick me out, and I told them I know my rights and I have three months.”

    WBEZ-FM reported on July 23, 2012, that Chicago aldermen were expected to introduce an ordinance that week that would help keep renters in buildings through foreclosure. The idea would be to not only prevent more renters from being displaced, but also to avoid even more vacant properties like some of the ones featured in the video above.

    While anything that could help Chicago’s renters would certainly be a welcome change for many families throughout the city, what about the homeowners still seeking foreclosure help ? Our firm can explain how you might be able to either delay a foreclosure process by filing Chapter 7 bankruptcy or possibly save your home by filing Chapter 13 bankruptcy . If you are tired of waiting for foreclosure assistance that never seems to come, contact our firm at (866) 930-7482 to start getting real, proven results today.

    Benjamin Brand Services – Chicago bankruptcy attorney