November 2012 Archives

Illinois mortgage debt: What will Congress do?

The question many Illinois homeowners may be asking is what Congress is going to do about several homeowner friendly tax benefits and deductions that are set to expire on Dec. 31. As the year draws to a close, there are still millions of Americans struggling with their mortgage debt. With many uncertainties facing homeowners on Jan. 1, homeowners are looking to Congress to ease at least some of that stress.

Gary Dourdan wants a fresh start just like many in Illinois

Gary Dourdan, who was a member of the cast of the "CSI: Crime Scene Investigation" television series for eight seasons, has filed for bankruptcy protection. According to court documents, the actor's financial struggles began in 2010. Many people in Illinois can relate to Dourdan's desire for a fresh start.

Foreclosure: Calumet City Among Worst Hit Chicago Towns

As Mary Ellen Podmolik reports for the Chicago Tribune, homeowners in the Chicago area are obviously still struggling when it comes to their mortgages and home foreclosure. The trend seems to indicate more "upside-down" homeowners - those who owe more on their mortgages than the amount they could get for their home on the market - in Chicago than elsewhere in the country.

Finding credit card debt relief in Illinois

Many consumers in Illinois are facing ongoing struggles when it comes to their debt. It has been estimated that one in 10 consumers is currently subject to some sort of collection effort. Finding credit card debt relief can be complicated, but there are options available to consumers.

Illinois taxpayers may find relief from tax debt in Chapter 7

Most Illinois taxpayers have heard that taxes are not eligible for discharge in bankruptcy, and for the most part, it's true. However, there are some taxes that may qualify for discharge under a Chapter 7 bankruptcy. Whether taxes are eligible for discharge depends on a number of factors.

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