Your credit report is a crucial component of your financial health. It contains a detailed credit history, including your borrowing and repayment habits. Credit reports are used by Illinois lenders, employers and landlords to evaluate your creditworthiness, and they...
Debt can negatively impact Illinois residents' financial health and well-being. Whether it's credit card debt, student loans or other forms of debt, it's important to prioritize debt repayment to avoid accruing additional interest charges and late fees. Identify the...
When an Illinois resident takes out a mortgage, they must make the required payments on the loan and do so timely. When someone misses one or more, becoming current should be a priority. A foreclosure action might result if the borrower falls too far behind....
Even with the best of intentions, some Illinois residents struggle to maintain good credit. A bad credit score can have serious impacts on various areas of your daily life. These are some of the biggest disadvantages you can expect. Lenders consider you a poor risk...
For most people, their biggest financial investment involves buying a home. However, a change in your finances could cause you to fall behind in your payments. If you fail to meet your mortgage obligations, your mortgage lender could foreclose on your home. Steps...
If you have ever used any credit, whether an installment loan, a credit card or a similar financial tool, you have a credit report. Three major credit bureaus issue credit reports for Illinois residents and all consumers who use credit in the United States. Consumers...
If you're transgender or nonbinary in Illinois, you're well aware of some of the unique challenges you face. One that may not be as apparent at first is potential credit issues stemming from legal name changes. The "Big Three" credit bureaus have only recently begun...
When weakness begins to form in the housing market, the foreclosure rate tends to go up. However, there is a chance that the current downturn in residential real estate values may not spell trouble for as many Illinois homeowners. This is primarily because the rise in...
Illinois lenders are strict about credit scores. The lower your score, the harder it is to get a good loan in Chicago. A low credit score can affect other areas of your life as well. And it's frustrating when you try to raise your score, but it’s just not moving. Why...
Mortgage payments bite deep into the budgets of homeowners in Chicago and throughout Illinois. For a variety of reasons, you may have fallen behind on payments. Failing to make your mortgage payments puts you at risk of foreclosure. This is the process by which your...