If you’ve had a creditor place a lien on your home or another piece of property, you’re certainly not alone. Here in Chicagoland and all across the country, homeowners face a variety of liens, stemming from judgments, unpaid taxes, contractor’s fees, and more. In short, a lien is a mechanism that a creditor can use as legal claim to, or a charge against, your property, in order to secure payment or performance of an obligation from //READ MORE
Here in Illinois, the foreclosure process can be long and trying – and, for some borrowers, there may be financial effects that will continue to be felt, even after the completion of the foreclosure sale. In Illinois, it is possible for lenders to get a deficiency judgment against borrowers, in order to attempt to attain the outstanding balance of the borrower’s loan after their property has been foreclosed. //READ MORE
New year, new you? The start of a new year is an opportunity to reflect on where you’ve been, and where you’d like to go. With a whole twelve months stretching out ahead of you, it’s easy to feel optimistic about achieving your biggest goals. For millions of Americans, that means taking practical steps to get a hold on their finances, and start taking action to manage their debts. //READ MORE
For individuals struggling with debt, bankruptcy can be a viable way to hit refresh — allowing you to discharge certain debts or restructure others, so that you can take a moment to breathe, and then move forward on more sound financial footing. With that being said, it’s also important to understand that while bankruptcy can be a practical path for individuals, families, wage earners, and retirees, it’s also not a “one size fits all” solution. In //READ MORE
Though the number of consumer bankruptcies has largely been declining overall throughout the last several years, there is one demographic for whom bankruptcy is actually becoming more and more common – and it’s a trend that is alarming many economic watchdogs and consumer protection experts. A growing body of research has indicated that the number of older Americans filing for bankruptcy has skyrocketed in recent years. Much of this reporting comes from one prominent 2018 study, //READ MORE
