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May 2013 Archives

Bloomberg: Student Loans Second-Largest Category Of Consumer Debt

According to John Hechinger with Bloomberg News, student loans are the second-largest category of consumer debt (second to home mortgages), a fact that has quite an impact on many young people in their early twenties who aren't finding work in this economy.

Many in Illinois have financial problems due to medical debt

A survey by the Commonwealth Fund indicates that an overwhelming 41 percent of people between the ages of 19 and 64 are struggling to pay their medical bills. Some people are paying over time where others simply can't pay at all. There are many people in Illinois whose financial problems may stem from a large amount of medical bills they are unable to pay off.

Illinois Chapter 7: Equusearch wants Casey Anthony to pay

People in Illinois may remember the story of Casey Anthony. She was convicted of lying to law enforcement in connection with the death of her 2-year-old daughter Kaylee. Now, Casey Anthony has filed for Chapter 7 bankruptcy protection and is attempting to have her debts discharged. One of those debts is to Equusearch, the search firm that looked for her daughter.

Illinois bankruptcy: Paying off bills doesn't repair credit score

The recession has left many people in Illinois agonizing over their finances. Whether bills are eventually paid off or the consumer files for bankruptcy, the impact late or unpaid bills has on that consumer's credit won't go away anytime soon. A person's credit history is made up of the type of credit the consumer has, a consumer's payment history, and how much credit a consumer has at any given time.

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