Category Archives: Bankruptcy
Consider the Real Cost of Cash for Clunkers
Thanks to the new government incentive program Cash for Clunkers, we might be seeing a lot more hybrid and other low-mileage vehicles on the streets – and that’s both good and bad. It’s good for the auto industry, because it spurs people to buy more cars. And it has potential to be good for the… Read More »
Prioritize Your Own Economic Health Over the State of the Economy
Sometimes it seems like there’s no way to win. Americans are saving at the highest rate in years and paying off debt in record numbers. Recently the Federal Reserve announced that June saw the fifth straight month of reduced credit card debt. It seems like frugality has finally caught on. That sounds like good news,… Read More »
Paying Down Debt Should Take Priority Over Spending to Stimulate Economy
It’s a catch-22. We’re supposed to make it through tough economic times by saving – but then we get blamed for slowing down the economy. What do I mean? In June, consumers reduced their credit card debt for the fifth month in a row, according to a Federal Reserve report. Total consumer debt in the… Read More »
Illinois Bankruptcy Lawyers See Economic Growth, But Warn Road to Recovery Might Be Long
Something rare happened to me recently – I actually heard some positive economic news. In this day and age, that’s reason for some (cautious) celebration. So here’s the happy newsflash. Proof has finally arrived that the $787 billion economic stimulus package passed in February was (no surprise) worth the money, according to a New York… Read More »
Chicago Bankruptcy Lawyers Explain There’s No Such Thing as a Free Foreclosure
On Tuesday, the federal government made a deal with mortgage company execs to perform 500,000 loan modifications by Nov. 1 – a significant scale back from than the 3-4 million first expected to be helped by the Making Home Affordable program. While Uncle Sam struggles to revive its ailing loan modification incentive program, some homeowners… Read More »