March

Blog Posts in March, 2016

  • New changes from Fannie Mae will make it easier for people to get approved for a mortgage after a bankruptcy, foreclosure, or short sale. The mortgage-backer has reduced the mandatory waiting period for reapplying for a loan, which used to be four ...
  • Recently, our Chicago consumer law attorneys, Attorney Paul M. Bach and Attorney Penelope N. Bach asked the bankruptcy court to review a case for our client, Renato Casali. Casali filed for Chapter 7 bankruptcy on July 31, 2013. Prior to filing, ...
  • How Did Three Credit Agencies Gain a Monopoly?

    The practice of extending credit dates back to the 19 th century when industrialization led to the mass production of expensive machines that most consumers were unable to afford in a single payment. Credit reporting agencies were created as credit ...
  • Myths & Facts About Payday Loans

    It is pretty common for those who are considering bankruptcy to have taken out one or more payday loans in the past. Payday loans, also called cash advance loans, are small loans that are meant, in theory, to be paid off by the time the borrower ...
  • HANGUP Act to End Unwanted Robocalls

    Two House Democratic Lawmakers introduced a new law that would roll back a budget bill provision of the Bipartisan Budget Act of 2015 allowing unsolicited autodialed collection calls to borrowers of government-backed loans. According to Congresswomen ...
  • U.S. Supreme Court Justice Antonin Scalia’s unexpected death in February at the age of 79 threw into disarray the fate of many of the Supreme Court’s most high profile cases, including those involving hot-button topics like immigration, ...
  • TCPA Exemption for Fed-Backed Loans Circulated to FCC

    On February 17, a draft rule to exempt robocalls to collect federal debt from TCPA rules was circulated to the FCC. This proposal is looking to create a balance between consumer protections and a directive by Congress allowing companies servicing ...
  • A bankruptcy judge has ordered 50 Cent into her courtroom to explain a number of photos of the rapper posing with large stacks of cash, suggesting that he could be lying about his current financial situation after filing for Chapter 11 bankruptcy ...
  • A topic that is often overlooked regards debts for people over the age of 65. If debts are large enough, who will be responsible for paying such debts after the elderly person can no longer pay them? Sources state that although assets and income are ...