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December 2013 Archives

Possible credit card debt increases with interest-free cards

Credit card companies and stores try various ploys to get people to sign up for credit cards. One of the common ploys is to offer a zero percent interest rate for a predetermined amount of time. Illinois residents might be interested to find out why some credit card experts claim these types of offers can be destructive.

Ex-wife has to reimburse ex-husband for alimony

When a person decides to file bankruptcy, it is usually because they can no longer afford their bills and are seeking an end to creditor harassment. Many different types of debts can be eliminated through a Chapter 7 bankruptcy, such as medical bills and credit card balances. However, our Chicago readers might be interested to know that a court has ruled that a woman cannot discharge the spousal support she was ordered to repay her ex-husband.

Giving up a home during Chapter 13 bankruptcy

Deciding to file bankruptcy is a serious life decision that is sometimes unavoidable. If you have decided to file Chapter 13 bankruptcy, you may have done so to save your home. When circumstances change, and you are unable to keep up with the required mortgage payments you must make under the Chapter 13 bankruptcy, you might wonder what you can do. Residents of Chicago should know that there are some options available that you can choose from if this situation occurs.

To file or not to file?

Being in debt is a stressful situation, especially if it is difficult to manage the debt. Unemployment, an illness or even a divorce can turn a once-comfortable financial situation into a nightmare of collection calls, final notices and threats of litigation. For Chicagoans who seek ways of relieving the stress, filing for bankruptcy can be a viable solution. However, before taking that route there are some things that should be considered.

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