Debt Relief Archives

Even The President's Doing It (Got Into Massive Student Loan Debt)

President Obama had his own law school student loan debt, according to Debra Cassens Weiss with the ABA Journal ("Citing his own law school debt, Obama expands repayment caps on student loans"), which has apparently made him sympathetic to the plight of young borrowers going into debt to get an education.

Debt relief or debt consolidation -- which method to go for

Increasing numbers of people in Illinois are finding themselves in a situation of overwhelming debt. Debt relief means the forgiveness of either partial or total debt and comes in many forms. Just as there are various ways to achieve debt relief, there are also various alternatives to it. There are many different types of debt, and whether it is a mortgage, personal or business loans, credit cards or unpaid bills, any debt in excess can negatively affect a person's life.

Dealing with financial problems related to medical bills

Very few people in Illinois are prepared to handle a medical emergency financially. For this reason, many people end up with financial problems after a long hospital stay or expensive procedure. Even with insurance, the amount of medical bills can be overwhelming. For those without insurance, or if insurance will not cover a procedure, hospital or doctor, the financial impact can be devastating.

Avoiding financial problems from student loan payments

These days, a large number of college graduates in Illinois start their careers with debt because they took out student loans in order to get their degrees. Fortunately, repayment of those loans doesn't begin until six months after graduation. This can give new graduates time to prepare in order to avoid financial problems in the future.

Is the CARD Act helping Illinois consumers find debt relief?

The Credit Card Accountability, Responsibility and Disclosure Act (CARD) took affect nearly three years ago. Since that time, it is speculated that it has provided many consumers, including some in Illinois, with much needed debt relief. The trade-off, however, seems to be that obtaining and keeping a credit card has become more expensive.

Illinois medical debt relief: New collection standards possible

Both Congress and the IRS are drafting legislation and rules that could limit the ability of healthcare providers to collect past due medical bills. In response, the healthcare community is attempting to adopt new rules for itself regarding collections. For Illinois patients looking for medical debt relief these new rules could be helpful.

Illinois debt relief: Credit report mistakes that can cost you

It's no surprise that there are many people in Illinois that have credit cards. Unfortunately, some of those people unintentionally undermine their own debt relief efforts by not fully understanding their credit card agreement or how their credit card usage can affect their credit report. Unfortunately, it doesn't seem to be common knowledge just how credit cards can affect a person's credit score.

Illinois: How to tell if you need debt relief and ways to get it

As people in Illinois go through their daily lives, the fact that their debt is getting out of hand may creep up on them. By the time these consumers realize that they are in trouble, they might need help getting out from under their debt. There are ways to get debt relief whether it's on their own or with professional help, but first consumers need to determine if they are in trouble or not.

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