Personal Finance

The Risks of Co-Signing a Loan

08/25/12

Co-signing a loan is a dangerous thing. Too many people end up in bankruptcy due to debts they just co-signed for, so here are a few points worth considering before co-signing for a friend or family member.

1. There is a reason they need a co-signor. A professional lender does not think they will pay the money back. An objective professional (or underwriting standards) arrived at this judgment. Why do you think you know differently?

2. If they do not pay or miss payments, it will affect your credit.

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Electronic Payment Options Come to Southern Illinois Bankruptcy Court

08/20/12

Chapter 13 bankruptcy debtors can send monthly plan payments electronically to the chapter 13 trustee under a new program available in the Southern District of Illinois Bankruptcy Court – East St. Louis division.

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Budgeting After Bankruptcy (Part One)

06/03/12

Bankruptcy is about a fresh start, a new beginning.  For many people, that means establishing good spending and saving habits.

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Missouri Banks – Profit From Foreclosure?

04/25/12

Good lawyers will not recommend filing bankruptcy if the benefit is not clear.  If you are giving up your house with only one mortgage and no other significant debt, many of us will typically advise against it.  But in Missouri that could change if the banks start getting too greedy.

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Wall Street Bankrupts Us With Casino Tools

02/25/12

Casinos would go broke if people acted completely reasonably with money.  Instead, players go bankrupt and the house always wins.  Banks have learned to play the same games.

Banks are gradually turning the consumer financial world into a casino.  I don’t mean just the way they turn every loan into a chip in a huge game of chance like the one that crushed the real estate market last decade.  Although that doesn’t help.

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