» Interesting Articles

Today's deregulation trends have not eliminated consumers' rights against deceptive businesses in Illinois

Even in the midst of trending de-regulation, consumers have protections from shady business practices in Illinois. The Illinois Consumer Fraud and Deceptive Business Practices Act is alive and well, and it allows individuals to bring actions against… Read More
Read More

5 Mortifying Reasons Mortgage Applications End Up in the 'Reject' Pile

Just read an interesting article in Realtor.com explaining why mortgage applications are sometimes denied (See realtor.com).  According to the article a recent Federal Reserve study concluded that one out of every eight home loan applications (12%)… Read More
Read More

Bankruptcy Filings among Elderly Increased Exponentially over Last 25 Years

According to an article posted today in the New York Times (www.nytimes.com/by/tara-siegel-bernard) by Tara Segal Bernard, “[f]or a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a di… Read More
Read More

Law360 Satisfaction Survey finds that student loans are burdening lawyers too.

According to Forbes magazine, “student loan debt is now the second highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans and according to Make Lemonade, there are more than 44… Read More
Read More

America is heading for a level of income inequality that hasn't been seen since 1928

Economists have noted that the level of income inequality between the top 1% and the rest of the country is approaching levels last seen in 1928, which, of course, was just before the tragic financial meltdown that pre-dated, or even caused, massive… Read More
Read More

Rising home values are nudging more Chicago-area homeowners to tap the equity in their homes via lines of credit.

There appears to be an increase in consumer debt that is reminiscent of the near-collapse of 2008-2010. A recent article in Crain’s Chicago Business (reprinted below), reports that consumers are using increases in home equity to secure further… Read More
Read More

Supreme Court Sets a Trap for the Unwary Debtor

“One of the ‘main purpose[s]’ of the federal bankruptcy system is ‘to aid the unfortunate debtor by giving him a fresh start in life, free from debts, except of a certain character.’” Lamar, Archer & Cofrin, LLP v. Appling, 584 U.S. _… Read More
Read More

Chicago Court orders City to surrender vehicle to Debtor notwithstanding asserted possessory lien to secure traffic tickets

In a recent case, Judge Schmetterer held in In re Cross, Adversary No. 18 AP 00154, that the City of Chicago did not have the right to retain a chapter 13 debtor’s vehicle to protect its possessory lien on the car that allegedly secured paymen… Read More
Read More

Boston Judge Allows Conversion to Chapter 13 Just to Prevent the Sale of a Home

As reported by the American Bankruptcy Institute on December 29 2017, a Boston Judge Allows Conversion to Chapter 13 Just to Prevent the Sale of a Home Consumers are entitled to convert a chapter 7 case to chapter 13 even if the only reason is to pre… Read More
Read More

Credit Scores May Improve After Bankruptcy

One question people often have about bankruptcy is how it will affect their credit scores. In a recent article (link), Paul Goldsmith-Pinkham, an economist with the Federal Reserve Bank of New York’s Research and Statistics Group, shows that credit… Read More
Read More

For More Information