Category Archives: Bankruptcy
For Young Consumers Burdened by Debt, Bankruptcy Can Be Smart Long-Term Solution
Consumers in the U.S. now owe 11.4 trillion in debt, according to The Wall Street Journal. If divided among all the households in the country, that would be $96,000 per residence. However, a disproportionate amount of today’s debt belongs to young people. As more young Americans take out large loans for college and struggle to… Read More »
More Parents Struggling with Kids’ Student Loan Debt in Chicago
Young adults aren’t the only ones struggling with the nation’s $900 billion student debt load. Parents are shouldering the burden, too, say Chicago bankruptcy attorneys. As SmartMoney reports, borrowers over the age of 40 are responsible for about one-third of the country’s student debt. Some of these borrowers are still paying for their own school… Read More »
For 3 in 10 Americans with No Savings, Chicago Bankruptcy Can Offer Fresh Financial Start
Nearly 30 percent of Americans have no money socked away to cover emergency expenses like a job loss or car repairs, according to a new survey by Bankrate.com. Of those surveyed, only 25 percent had saved the recommended six months worth of living expenses. In fact, half of the 1,000 participants admitted they couldn’t make… Read More »
With Interest Rates at All-Time Lows, Tennessee Bankruptcy Offers an Alternative Way to Save
Today’s low interest rates are ideal for borrowers. The only problem? Many of us aren’t in the market to purchase a home or buy a new car right now. With most Americans struggling with rising prices and overwhelming credit card, consumers are looking for ways to save money – not spend it. Unfortunately, the majority… Read More »
Future Foreclosures in Chicago & Other Cities Put Anticipated Housing Recovery at Risk
Many experts are declaring the end of the U.S. housing crisis to be on the horizon. But there may be another storm brewing before the dark clouds can part. As our Chicago bankruptcy attorneys discussed in recent blog posts, foreclosure starts have been on the rise this summer as banks attempt to unload their inventory… Read More »