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...
Living with credit issues can be very expensive. The credit that may be extended to those with bad credit often comes with higher interest rates and may require collateral. It is for these and other reasons that many Illinois consumers seek help to improve their...
People who file for bankruptcy in Illinois and around the country do not have to worry about creditor harassment because court orders that prohibit such activities are issued when Chapter 7 and Chapter 13 personal bankruptcy petitions are filed. Consumers who do not...
Losing your home in Illinois through foreclosure can be a deeply saddening experience. But, while you may feel hopeless when you are behind on your mortgage, there are methods you could use to stop lenders from taking your home. Loss mitigation Loss mitigation means...
Your credit score and overall creditworthiness generally determine whether Illinois lenders will work with you. If you have no credit history or a bad credit history, it may be possible to use a credit card to improve your reputation. There are several reasons why...
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....