Tag Archives: Chicago Debt Relief Lawyer
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 »
IRS Penalties: How To Request Relief
If you fail to file or pay your taxes on time the Internal Revenue Service (IRS) will undoubtedly slap you with tax penalties and interest. These penalties can accumulate quickly and if you don’t address the problem promptly you may find yourself facing a tax debt that you are unable to pay. However, there… Read More »
The Debate Continues – Should Chicago’s Public School District File For Bankruptcy?
It has been widely publicized that Chicago’s public schools are facing some serious financial troubles. But what options are available to save Chicago’s school district from its billion dollar debt? When an individual or a corporation gets into financial trouble they have the option of filing for bankruptcy, but do government agencies have that… Read More »
Bankruptcy And Student Loan Debt
Until recently, it has been widely accepted that student loan-related debt can only be cancelled in a bankruptcy proceeding if the borrower is able to show that paying the debt would impose an ‘undue hardship’. Successfully showing an undue hardship in a bankruptcy case is hard to do and rarely happens. However, this may… Read More »
Puerto Rico’s Debt Relief Bill
Although Illinois is drowning in public debt, we are certainly not alone. Recently, the media spotlight has been on the Commonwealth of Puerto Rico and the fact that it owes approximately $73 billion in public debt. Proposed debt relief plans for Puerto Rico are particularly interesting from a legal point of view given that… Read More »
