It may not be a well-know fact, but the truth is a lot of financially-responsible people are turned down for loans because they have NO history of recent borrowing. None.
This may be because the person saves up and pays for purchases without financing, or because they have not bothered to start building a new credit history by borrowing (and showing on-time payments) after a major financial event such as a bankruptcy or foreclosure.

So many people have fallen behind with outstanding parking tickets. It doesn’t take very many parking tickets in the city of Chicago to find yourself on the boot list. You might even have dozens of tickets and know that you’re on the boot list, however, you do not take affirmative action to help yourself. What+ Read More

When you fall behind on your federal student loan repayment, it feels as if there’s no good news. Collectors call day and night, and the threat of wage garnishment looms large.
Each month, the payment amount due soars. Finally, you throw up your hands and figure there’s no sense in fighting the federal student loan monster.

I have been practicing bankruptcy law since 1991. I have seen a drastic difference in the way that student loans are handled in bankruptcy cases. Prior to 1998, a student loan was potentially dischargeable if it had been in repayment status for more than seven years. This basically meant that an old student loan debt+ Read More

Walworth County Real Estate Attorney, Shannon Wynn, wants you to know about some important real estate tax breaks you can claim on your Federal and State income tax returns. With income tax returns due in the next couple weeks, there is no time like the present to make sure you have claimed all your deductions and credits. To take advantage of real estate tax deductions, you will have to itemize your deductions. For most Walworth County residents, itemizing your deductions is always well worth the effort.

Before filing your bankruptcy case, it is important to decide if bankruptcy is your best option. Depending on the specifics of your financial problems, we will gather and discuss a great many facts in your case. We will want to know all aspects of your financial situation and what your desired outcomes are. It may be difficult to discuss all the circumstances you are facing in bankruptcy.

Before filing your bankruptcy case, it is important to decide if bankruptcy is your best option. Depending on the specifics of your financial problems, we will gather and discuss a great many facts in your case. We will want to know all aspects of your financial situation and what your desired outcomes are. It may be difficult to discuss all the circumstances you are facing in bankruptcy.

In general, you can file a chapter 7 bankruptcy case once every eight years. For example, if you filed on January 1, 2008, then you would not be eligible to file another chapter 7 bankruptcy case until January 2, 2016. If you filed the case in between those two dates, the chapter 7 trustee or+ Read More

Every parent has thought about it, but few want to discuss it.  What happens to your children if you and your spouse both pass away before your children grow up.  Who will care for them?  Who will cover the costs of raising them? How will they go to college?  Who will control their inheritance?

No matter how deep your hole of debt, you want to keep bankruptcy as a last resort.
If there’s a way out of debt that doesn’t involve a trip to a bankruptcy lawyer, that’s what you want to do.
After all, bankruptcy costs money and takes time. You have to give up all sorts of financial information, and it doesn’t cover all types of debt.