CNN is reporting that six percent fewer consumer bankruptcy filings were reported in the first quarter of 2011. At first blush, that sounds like good news.

The truth of the matter is that bankruptcy filings are at historically high levels. Chicago bankruptcy attorneys continue to handle record numbers of filings for consumers who are dealing with bad real estate debt, overwhelming credit card debt or astronomical medical bills.

Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 in an effort to reduce the number of bankruptcy filings. Despite the name, this legislation was largely a handout to credit card companies, banks, the medical industry and other big campaign donors. The largest change was the requirement that some with certain income-to-debt levels establish a repayment plan.

To illustrate the impact the economy has had on filings, there were 1.1 million bankruptcies nationwide in 2006 — last year nearly 1.6 million people filed for bankruptcy protection.

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Spring is the season of green thumbs. But did you know you can save a lot of green on interest rates if you tend to your credit scores as carefully as some people tend their gardens? Credit scores are like gardens: if you don’t give them care and attention, a nasty bad score can show up and ruin everything. If you want to get to the root of your credit scores, FreeScore will help you do the digging.

Know Before You Grow

Before you try to cultivate favor with lenders, insurers and employers, you need to know your 3 credit scores. FreeScore lets you know if your credit scores are flourishing or wilting. And that’s important, because you can’t negotiate the best interest rates without knowing what each of the three national credit bureaus TransUnion, Experian and Equifax has to say about your credit scores.

Monitor New Accounts

Have you ever started a garden, only to find a pervasive weed has snuck in? If yo

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Credit Unions and national banking institutes are influencing consumer intrigue by offering the best personal loans and flexible repayment options. Loans are gaining become more available and gaining in popularity, as consumers in the US have taken out an additional $5 billion in credit from December 2010 to January of this year.  Banks are providing lower fixed interest rates, repayment alternatives and incentive programs to encourage utilization of available funds.

Incentive Programs

Many banks offering the best personal loan rates also offer additional incredible incentives to current banking members.

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Paul R. Ridgeway founded the event planning firm that has worked with the National Football League on transportation, and the businessman once held the limelight while heading a campaign to keep the Minnesota Twins baseball team in Minneapolis.

Now, Ridgeway has filed for Chapter 7 bankruptcy, as the Minneapolis St. Paul Business Journal reports that the Ridgeway International Inc. founder has struggled with liabilities that outweigh his assets, and that his business offices have been foreclosed on.

The mortgage on the business headquarters is worth a little over $1 million, and it has been foreclosed on by U.S. Bancorp.

The Chapter 7 bankruptcy filing is not necessarily a surprise. News of Ridgeway’s financial issues came out in early 2009. The Minneapolis Star-Tribune reported that the charismatic businessman had a growing list of unpaid bills on his ledger and was struggling with debt.

Back then, the Star Tribune said that he owed money to members of a high school football team that parked cars during a sports tournament. T

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So there I was, lounging on the couch in my mom’s basement, playing video games with a 12-year-old friend, when she stormed downstairs looking irritated.

“It’s time for you to get a job and pay some rent!” she said, brow creased and arms crossed. “I’m tired of doing your laundry and feeding you for free. You’re a grown man for goodness sakes!”

Reluctantly, I picked my least crumpled suit off the floor of my closet, one that buttoned up high to hide the low credit score on my chest, and headed off to find a job.

Just a short walk from the house (I have to walk, because for some reason nobody wants to loan me money for a car), I saw a “Help Wanted” sign at the local bank. They were looking for a teller.

This was perfect! I like talking to people, I like money and banks are open very limited hours! I’d be able to earn

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Credit cards can seem to be a blessing for someone who is struggling to get by. But as the debt mounts, you may begin making fewer payments, leading to ridiculously high interest rates. That can lead you to consider filing for bankruptcy in Chicago.

But a recent article by a debt expert Andrew Housser explains how people can avoid using credit cards as a crutch that ends up ruining their credit scores.

A Cook County bankruptcy law firm can help you if your credit card debt or other forms of debt have gotten out of control in your life. We can work to help you save your house from foreclosure or choose whether to file for either Chapter 7 or Chapter 13 bankruptcy.

But it’s not always necessary to file for bankruptcy. So, consult with a law firm dedicated to helping you protect your assets. According to the article, in recent decades household debt has gone up. From 1968 to today, household debt has increased from about $1.3 billion to $800 billion.

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Acquiring a car loan can be more complicated if you have bad credit. This is because many lending companies strictly require good to excellent credit. Furthermore, you may find that the lowest rates are reserved for those with above average credit.

Hence, if your credit score needs improvement, you may need to take extra steps to improve your chance of getting approved. In this article, let’s discuss the steps you can do before applying for a bad credit car loan.