Category Archives: Credit Card Debt
How Credit Inquiries Really Affect Your Credit Report
By now, most of us know that applying for credit cards left and right will have a negative effect our credit score. But not all credit inquiries are created equal. Lots of folks today are paranoid that any kind of credit inquiry will hurt their credit – including a potential employer’s request to see a… Read More »
Bankruptcy Can Help Improve Decreasing Chicago Credit Scores
Worried you have a bad credit score? You’re definitely not alone. More than a quarter of Americans now have a credit score of 599 or less, which categorizes them as a poor risk to lenders – that’s 2.4 million more people than before the Great Recession, according to a recent report by FICO, Inc. That… Read More »
Bankruptcy Can Sometimes Lower Debt When Chicago Debt Relief Companies Can’t
There’s a big difference between debt relief and debt relief. And no, that’s not a typo. You’ve probably heard the advertisements on the radio and read them on the Internet – so-called debt relief companies claim they can negotiate with your creditors in order to get your debt paid off. They promise you’ll have a… Read More »
Minimum Payments Cause Maximum Debt for Chicago Consumers
It’s the ultimate reality check: thanks to the Credit Card Accountability Responsibility and Disclosure Act – or Credit CARD Act -we’re forced to confront our debt problem every time we open our credit card statement. New rules require creditors to illustrate how long paying off our debt will take if we send only the minimum… Read More »
Chicago Shoppers Should Weigh Pros and Cons of Spending With Cash and Credit
With millions of Americans recovering from personal debts and the recent credit crunch, it’s no surprise that paying with credit cards has fallen out of favor. But is paper money really superior to plastic, or vice versa? In short, it depends on the person, say Chicago bankruptcy attorneys. Finances are highly personal. While one shopper… Read More »