• 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 year than in years past, but the time to be looking for these jobs is right now.

    According to the Tribune, an annual holiday hiring survey by Snagajob, the nation’s largest hourly employment network, found that 63 percent of year-end hiring managers intend to add seasonal workers this year. That is up 12 points from last year and the highest percentage since before the recession started in 2007. Many of the nation’s largest retailers will be hiring tens of thousands of holiday workers, with “a 10 percent increase from last year for many,” according to the Tribune.

    There is more good news, though. The Tribune reported that that the pay for these seasonal jobs is likely to be “a tad better,” increasing from an average of $10.60 an hour last year to $10.70 this year. Additionally, about half of the seasonal positions are expected to offer full-time hours. According to the Tribune, that is the highest share in the survey’s five-year history. The Tribune also noted that you can help your odds of getting a job by being willing to work nights and weekends.

    Money becomes tight for thousands of individuals during the holidays, and the stress can be even more overwhelming for families that are already struggling to pay their bills. You should know that filing Chapter 13 bankruptcy could help you avoid foreclosure so you do not have to worry about where you will be celebrating Christmas. By filing Chapter 7 bankruptcy , you could erase unsecured debt like credit card bills.

    However, timing is critical and it could be in your best interest to take action before making a bad situation worse by accumulating more holiday debt before filing. Our Chicago bankruptcy lawyers can help you determine when is the best time to file when you contact our firm at (866) 930-7482 or fill out the form on this page to let our Chicago firm review your case.

    Benjamin Brand Services – Chicago bankruptcy attorneys

  • 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, as the Chicago Tribune reported on October 2, 2012, that a CoreLogic report said local home prices in the Chicago area declined 2.5 percent from a year ago and slipped 1.7 percent compared to July. This was the second largest decrease in the United States.

    Two days prior, a commentary in the Tribune by urban affairs consultant and teacher John McCarron noted that Chicago has “22,169 dwellings in serious mortgage delinquency headed for default and an additional 9,240 already repossessed by lenders and up for sale.” However, McCarron added that the figure does not include thousands of “bungalows, three-flats, walk-ups” in which “delinquent mortgage-holders have handed the keys to lenders who, in turn, are letting the residences rot without trying to resell.” McCarron wrote that some experts estimate the city now has at least 40,000 vacant dwelling units.

    McCarron added that the Woodstock Institute found that more than a quarter of all mortgaged homes in Cook County were “underwater” going into 2012. That translates to some 245,486 locations in which borrowers owe more than their homes are worth; McCarron points out that the average home price has declined 39 percent since 2006. He also noted that the situation is even worse in the predominantly black and Latino neighborhoods that were “heavily worked-over by subprime lenders,” as values have fallen more dramatically and the underwater rate is “a predictor of future foreclosures.”

    If you are underwater on your mortgage, filing Chapter 13 bankruptcy could allow you to remove a second mortgage or home equity line of credit and pay back only the first mortgage if your home is worth less than the balance due on your first mortgage. However, you need to have the income necessary to make a Chapter 13 repayment plan work, and that can be an issue for many homeowners throughout Illinois.

    The good news is that filing Chapter 7 bankruptcy also has its benefits for homeowners facing foreclosure, and we will further discuss that in our next blog post. If you are facing foreclosure and want to know which plan would work better for you, contact our firm at (866) 930-7482 or use the form on this page to have our Chicago bankruptcy lawyers see which plan would be best.

    Benjamin Brand Services – Chicago bankruptcy attorneys