Category Archives: Economy

As Student Loan Debt Drags Down Economy, Consumer Group Pushes for Repayment Reform

Several years into a slow but steady economic recovery, student loan debt is threatening to wipe away any gains. As our bankruptcy lawyers discussed last week, the investor-led housing recovery could stall as investors pull back and ordinary home buyers fail to step in because they’re grappling with massive student debts. With the average student… Read More »

Experts Caution Real Estate Recovery May Not Have Strength to Last

Home prices are rising, foreclosures are falling and consumers are snatching up properties: It looks like the housing market is on the mend. But all is not as it seems, say bankruptcy attorneys. Recently, real estate experts have been speculating that the real estate recovery won’t last. According to CNN Money, there are three main… Read More »

Credit Card Debt Exceeds Savings for an Increasing Number of Americans

It looks like 2013 may be the year the U.S. economy finally regains some strength. Unfortunately, the same probably can’t be said for consumer finances. Nearly one quarter of Americans have credit card debts that exceed their savings, according to new data from Just 55 percent of those surveyed had more savings than debt…. Read More »

Financial Aid Scams Take Advantage Of Chicago College Students

Getting a college degree is supposed to help you earn money – but lately, some students have been losing money thanks to a growing number of financial aid scams. For many folks out of work or looking for a way to boost their current income, going back to school seems like a logical solution. Problem… Read More »

Household Debt Hits New Low, But Expiring Tax Cuts Could Obliterate Savings

U.S. consumers had more money in their pockets this year. Unfortunately, those fatter wallets may not last long. The household debt service ratio, which looks at the amount of mortgage and consumer debt in relation to disposable personal income, fell to its lowest level since 1983 – nearly 30 years ago – in the third… Read More »