Author Archives: Jessica Holguin
Priority and Superpriority Bankruptcy Claims
In a recent bankruptcy case, Illinois reached a superpriority claim settlement agreement with the major coal producer Peabody Energy, reports MiningWeekly.com. Large coal producers, such as Peabody Energy, are sometimes allowed to self-bond so that they can operate mines without setting aside sums of money reserved for cleaning up their mining site in the… Read More »
How to Obtain a Tax Lien Release in Illinois
It should come as no surprise that failing to pay your taxes in the United States can land you in a world of legal trouble. Penalties for failing to file or pay taxes on time can be stiff and often include fines, monthly late fees, and interest charges. If you do not pay your… Read More »
Student Debt Relief Scams
Are you struggling to make your monthly student loan payments? If so, you are not alone. Young Americans are carrying an unprecedented amount of student loan debt and many borrowers are having a hard time keeping up with their loan payments. Unfortunately, scam artists are capitalizing on this situation by running ads offering student… Read More »
Be Warned: IRS and Debt Relief Phone Scams Are on the Rise
According to an article in The Times of Chester County, IRS and debt relief phone scams are on the rise. Phone scams come in variety of different forms, but often involve a foreign phone call placed to a target in the United States. After answering the phone there is generally a pause and maybe… Read More »
Property Taxes Expected to Increase in Chicago to Mitigate City’s Impressive Debt
According to Chicago’s 2015 Comprehensive Annual Financial Report, our city’s debt has more than tripled since 2014 and now has unfunded liabilities totaling nearly $24 billion. Without significant pension reforms and spending reductions Chicago’s debt will undoubtedly continue to grow. While city and state officials are pursuing a variety of policies aimed at mitigating… Read More »
Debt Collector Harassment Laws May Be Changing Soon
Debt collection is a multibillion dollar industry in the United States that, while already heavily regulated, may soon be facing a huge overhaul. According to the Chicago Tribune, the Consumer Financial Protection Bureau recently proposed revised legislation that would institute several industry changes including new limits on the number of times per week that… Read More »
Your Business Can Emerge From Bankruptcy as a Publicly Traded Company, Just Ask Twinkies Maker Hostess
In 1930, in a suburban Chicago bakery, the Twinkie was invented. Since then, Twinkies and other hostess snacks have truly become a part of Americana. Hostess Brand owns both Twinkie and Ding Dongs and operated as a financially successful company for many years. However, over the decades Hostess has found itself in a bit… Read More »
Debt Management Plans: A Viable Alternative to Bankruptcy?
Unfortunately, the debt relief industry is filled with scammers looking to make money off of people who are deep in debt and desperate for a way out. However, there are reputable nonprofit credit counseling services out there that will evaluate your current financial situation, explain the debt relief options available to you, and more… Read More »
Loan Modifications in Chicago
Last month the U.S. Department of Housing and Urban Development (HUD) announced that it is awarding $42 million in housing counseling grants to groups across the country, including $890,000 to agencies in Illinois. An article in The Chicago Tribune reports that Open Communities, an advocacy group that provides fair and affordable housing counseling services… Read More »
Struggling to Pay Your Mortgage In Illinois? New Statewide Program Could Help
There are countless reasons why people fall behind on their mortgage payments and are forced to face the possibility of losing their home to foreclosure. Some of these reasons are due to decisions that the borrower makes while others are simply beyond their control. However, help is on the way as Illinois is reopening… Read More »