708-598-5999

We all have some bad financial habits even if we do not like to admit it.  We overspend on things that we may not need or put off paying bills causing late fees to pile onto the amount that we owe.  Learning how to break these bad financial habits can save and help you build a better financial future for yourself and your family.  The first step to breaking bad habits it to admit that you have them. For more read, “How to Break 5 Bad Financial Habits.” Image credit:  Jason Rogers … [Read more...]

As more and more readers are turning to the internet to get their news and entertainment, magazine publishers are hurting for revenues.  Source Home Entertainment, LLC based in Bonita Springs, Florida filed for Chapter 11 protection in Delaware reporting just over $200 million in assets and right below $300 million in debts.  According to a company official, the bankruptcy filing stems from “the continuing fundamental technological shift away from traditional consumption of print media.” For … [Read more...]

Unless you plan to live in your home for the rest of your life, you should always be mindful of the day that you will put your home on the market.  Sellers can be very picky and the least little thing can keep your home on the market for months instead of weeks.  For example, curb appeal is very important when trying to sell your home.  Choosing a “bold” exterior color may have seemed like a good idea to you; however, prospective buyers may not love your artistic nature. For ways that you may … [Read more...]

Kids Brands, a New Jersey based company filed for relief under Chapter 11 this week. The company makes bedding, furniture and toys for infants. Products are sold under the brands of Carters and Graco.  Bankruptcy filings show the company reports having less than $35 million in assets but close to $110 million in debt.  Even though the intention is to sell the company, a statement issued on behalf of Kids Brands states that it will seek financing to continue operating while in bankruptcy. For … [Read more...]

If you have the answer to this question, you can sell your home faster.  Things that you take for granted about your home are the very things that buyers are looking for in a new home.  For example, buyers love to hear that a home has great storage and organizing systems such as built-in closet organizers and garage shelves.  Buyers who have been renting an apartment are ready to have more room and a home with ample storage and existing organizing systems is very attractive. For more things … [Read more...]

The St. Louis based company that owns Mattress Source, Jamat LLC, filed for bankruptcy relief under Chapter 11 on June 13.  The company claims have between $1 million and $10 million in assets as well as liabilities.  While Mattress Source will continue to operate and keep some stores open, other stores will be closed as part of the bankruptcy plan.  The company has not released the locations of the stores that will be closing.  The bankruptcy is blamed in part on competition from other … [Read more...]

When you decide to purchase a home, chances are that you have given the decision much thought.  You have weighed the pros and cons of buying a home verses renting a home.  You have searched for the best area for schools, work and recreation.  You may have even made a “wish list” of features you want in your new home.  However, have you given the same consideration to choosing a realtor?  You want someone who can help you turn your dream home into a reality. For help choosing the right realtor … [Read more...]

There is so much focus on how to improve credit scores these days that many people forget that little things they do every day could potentially harm their credit score.  For example, avoiding credit of any type can lower your credit rating and make you appear as a higher risk to potential lenders when you do need credit. Comparison shopping can lower your credit score if you apply for multiple loans even if you decide not to open the account. For more surprising ways you may be harming your … [Read more...]

In a much anticipated case, the Supreme Court has issued a ruling stating that inherited IRAs are not exempt from creditors in a bankruptcy proceeding.  The case in question involves a woman who filed a joint bankruptcy case with her spouse and owned an inherited IRA worth $300,000.  The trustee sought to use the money to pay the couples creditors; however, the couple maintained the account was exempt.  The Supreme Court has ruled in favor of the trustee – the ruling has far-reaching effects on … [Read more...]

The big Three in the auto world (Ford, GM and Chrysler) have pledged $26 million toward the fund to save Detroit’s artwork from being placed on the auction block.  The group working toward saving the artwork is trying to raise $800 million to prevent the city-owned Detroit Institute of Art’s sale by transferring the artwork into a trust.  The city would use the money to pay its creditors through bankruptcy. For the full story read, "Detroit Automakers Pledge $26 Million to Help Save City’s … [Read more...]