Although credit cards provide a way to cover expenses in emergency situations and can often be a convenient way to pay your bills, many Illinois residents struggle with mounting charges. The average U.S. household struggles with at least $7000 in credit card bills....
Identity theft could cause all kinds of problems for the victims. If someone compromises someone’s identity and gains access to Illinois financial accounts, the victim’s credit report may end up destroyed. The situation might not be permanent, as there are steps...
A credit report contains information about an individual's debts and financial accounts in Illinois. The Consumer Financial Protection Bureau (CFPB) provides information on who has access to a credit report, the types of errors to look for and how to report...
Significant mortgage debt leads to a number of foreclosures in Cook County, Illinois every year. Many of these foreclosures are contentious and result in significant legal bills and procedures. But there is a different way. Consent foreclosure is a way to ease the...
Illinois residents who are heavily in debt often face harassing calls from debt collectors. Debt settlement is a solution that might provide relief from collection activity. What is debt settlement? Debt settlement is an option for individuals with debt but no...
For people in Illinois, consumer protection for credit reporting and other personal finance topics can be a murky subject. Recently, the Consumer Financial Protection Bureau, or CFPB, issued a ruling to help clarify its jurisdiction and that of the state government....
If you fail to make payments on your Illinois home loan, the lender that services this debt may foreclose on the property. This means that it will take possession of the property and take steps to recoup its losses. However, it may be possible to postpone or prevent a...
If you fail to make mortgage payments on time, it's possible that you will lose your Illinois home. However, there are several strategies that may prevent this from happening. At a minimum, fighting a foreclosure may provide time to negotiate a new payment plan or to...
If you live in Illinois and fall behind on your mortgage loan, your lender can attempt to repossess your home through foreclosure. Although repossession is a frightening proposition, the lender must follow a specific procedure to let you know your loan is in default....
When someone falls behind on debt payments, a collection agency will likely contact them. Few people appreciate phone calls to their Illinois residence or place of work, so debt collectors might try other tactics. One method could involve contacting the debtor through...