Category Archives: Uncategorized

Problem: Open trade jobs with no applicants

Problem: Open trade jobs with no applicants

All the kids graduating from high school are going straight to college and the pool of skilled trade talent is running dry. Like sheep following a shepherd high school seniors graduate and march off to college in the fall because that is what everyone else does. Meanwhile, there are housing booms around the country and not enough skilled trade workers to get the jobs done. There are open trade jobs with no applicants, a considerable problem and missed opportunity for many.

When people can learn skilled trades and vocations in less time than it takes to earn a liberal arts degree, it can be easier to retrain people for the new lines of work needed in a variety of industries, not only construction.

A shortage of plumbers and air conditioning repair technicians is a real problem when the need exceeds the available skilled workers to solve homeowners’ emergencies.

College tuition is expensive, and the loans can be gigantic

When it costs $15,000 and more per year to attend a state school in Illinois the student loans can multiply quickly. Especially when many students borrow more than the money for tuition, books and fees and maximize their loans to also include rent and living expenses, the total cost of a four year degree can easily reach $100,000.

With a $100,000 student loan an average interest rate of 5.7% a student will pay $1,095 a month on a 10-year repayment plan and make combined total payments in the amount of $131,424. The interest alone would be enough to buy a dependable vehicle or a down payment on a home.

The earlier you start working, the earlier you build net worth and gain assets

A couple years out of high school, an iron worker in Seattle is earning more than $50,000 a year with no college degree required. His name is Morgan and he makes $28.36 an hour working on a jobsite with Pacific Northwest Ironworkers shop. He is already earning great benefits and a pension. Meanwhile all his high school friends went off to college and someday they will make as much as he does at age 20.

Because Morgan doesn’t have large student debt burdens he is able to save for a house and his retirement much earlier than his peers who went to college and want to continue to graduate school. Surely many of them will do well, but it will take them many more years to get into the red where they are getting out of debt and accumulating assets.

Joseph Wrobel wants you to make smart financial decisions and get a head!

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start. (312) 781-0996.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read

Good credit after bankruptcy

Good credit after bankruptcy

At the point you are in a bankruptcy it no longer matters what happens that led to filing Chapter 7 or 13. For purposes of good credit, what matters is what happens after the bankruptcy discharge. Many people are surprised in how quickly they can qualify for a student, car or home loan after bankruptcy. Starting with a secured credit card, people can rebuild their credit score, especially since they are no longer under the burden of debts they couldn’t pay.

Start with a secured credit card

People are shocked how easy it is to get a secured credit card. All you need to do is deposit the amount of your credit limit with the issuing bank or credit card company. Very simply, if you don’t pay your credit card bill, you forfeit the deposit. Since the bill is guaranteed, it makes sense to give people secured credit cards to fix their credit.

As you use the secured card like a regular credit card your balance and payments will be reported to the credit bureaus and your scores should rise with responsible use of the secured credit card. After a year or more of using the card, the deposit may be returned to you and the card converts to a traditional credit card.

After a few months of credit rebuilding with your secured credit card you may start seeing traditional credit offers in your mailbox and when you apply to one every three or four months or so you may be accepted more often than rejected for new credit opportunities.

Pay down your balance before the due date

Credit repair professionals helping consumers qualify for home loans after bankruptcy say to use no more than a modest amount of your total credit and pay your credit card bill every month before it is due. When paying your bill, they say your credit score can benefit from leaving a few dollars balance instead of paying the bill down to zero.

The idea in not using too much credit and paying it down every month is to ensure that at any given moment during the month the credit bureaus can take a snapshot of your credit usage. It is better not to max out your cards and at any given moment have plenty of money to spend and to pay the bill after you spend.

Good credit after bankruptcy
Helping people get out of debt with dignity and respect for over 40 years.

For more ideas, see Nerdwallet: How to Rebuilt Credit After Bankruptcy

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start. (312) 781-0996.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

 

Should I buy or rent my home?

Should I buy or rent my home?

Whether you are a first-time home buyer or someone who has previously owned a home, there comes a time you might wonder if it is better to rent or buy your home. Interest rates are scheduled to rise this year and realtors suggest this is a good time to buy. What if you are not ready to buy and cannot decided if you should buy or rent?

If you are rebuilding your credit score and hear about increasing interest rates, consider that taking an extra year or more to increase your credit score and buying power should cause you to have a lower interest rate, compared to getting into a mortgage where your credit just barely qualified for the loan. More money down can also be a benefit worth waiting to buy and renting a little longer.

The cost of home ownership in the Chicago area

While you are building equity when you own a home, there are all kinds of extra costs and expenses that can outweigh building equity. For example, if you buy an older home you may be spending money on replacing the roof, furnace, water heater, or air conditioner. If you had been renting you would have simply made a call to your landlord for those repairs.

Taxes are also an expensive part of your monthly mortgage payment, when taxes and home insurance are included in your monthly payment. That said, you can also claim a tax deduction for property taxes paid up to the new $10,000 limit.

Alternative ways to invest for retirement

Say you can afford to buy a new home but not where you want to live. Have you considered keeping your rental home in Chicago and buying a new home in Will County to lease to a renter? A new home with few needed repairs can be an excellent investment, especially in the collar counties where there is new growth and anticipated increases in future property values.

By the time you are ready for retirement you may want to go live in that home in Will County or sell it and take your equity to wherever you plan to retire.

If you have questions about making the right financial moves, regardless of whether you have had or will ever a have a bankruptcy, a consumer finance attorney at Joseph Wrobel, Ltd. is happy to help steer you in the direction of financial success.

Should I buy or rent my home?
Helping people get out of debt with dignity and respect for over 40 years.

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start. (312) 781-0996.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

Chicago Bankruptcy Podcast with Joseph Wrobel: January 2018

Chicago Bankruptcy Podcast with Joseph Wrobel: January 2018

Chicago bankruptcy and consumer credit attorney Joseph Wrobel answers real people’s questions about their financial situations and what options they might have to fix their financial problems.

Click/tap here to listen to the podcast

Sample questions answered in this 30-minute show:

  • Can I still file for bankruptcy after a foreclosure sale?
  • A wrong employer was listed on my Wage Garnishment Notice;
  • What other than my wages can be garnished?
  • Will filing for bankruptcy prevent my license from being suspended?
  • I am on social security disability; can creditors sue or garnish me?
  • Can I be sued if I can no longer afford my mortgage? Can I claim bankruptcy?
  • Are reaffirmations only used in bankruptcy? Can they be requested on new loans?
Bankruptcy Attorney Joseph Wrobel, Chicago Bankruptcy Podcast, wage garnishment, bankruptcy, foreclosure sale, wage garnishment notice, can creditors sue, can no longer afford my mortgage, reaffirmations, Joseph Wrobel, Chicago Bankruptcy, Consumer Credit,
Bankruptcy Attorney Joseph Wrobel

Joseph Wrobel has been a practicing attorney since 1973 and has experience in a wide variety of law relating to legal matters for individuals and families. Wrobel helps clients get out of debt and get a fresh start. He is an active member in several bar associations and the Bankruptcy Panel of Pro Bono Program of the Chicago Volunteer Legal Services. After serving the U.S. Army Reserve 363rd Civil Affairs Unit, Wrobel earned a B.A. in Psychology from Northwestern University and in 1973, he earned a JD from DePaul University Law School.

About Joseph Wrobel, Ltd:

Keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!  Visit our Chicago Bankruptcy website online for more about the firm or call for more information at (312) 781-0996 or e-mail at JosephWrobel@ChicagoBankruptcy.com.

Joseph Wrobel Limited is a small law firm of attorneys and staff experienced in consumer bankruptcy. They are not a bankruptcy law factory and you will not get lost in their office. You will be treated as a human being with courtesy, dignity, and respect.  The mission of Joseph Wrobel Limited is to have you take control over your finances through the proper use of the bankruptcy laws.

Joseph Wrobel, Ltd. has offices located in the Chicago-Loop, Chicago-Rosemont, and in the suburbs of Burr Ridge, Deerfield, Gurnee, Naperville, Orland Park, Schaumburg, Skokie, St. Charles and Westchester. They can represent Illinois clients in Cook County, Will County, DuPage County, Kane County, LaSalle County, Kendall County and Lake County.

Choosing an affordable college

Choosing an affordable college and creating an employable foundation is a key to success. In 2017 there is one thing that seems certain and that is change. The rise and fall of professions and the volume of applicants for certain jobs can put a college graduate in a rough spot. Especially if you have a specialized education in a competitive and sometimes saturated market, it can be difficult to compete with others who have even more education and connections. The concept of earning a degree and being due a job in your field is yielding the right of way to making smarter and arguably safer choices and choosing an affordable college.

Bankruptcy Attorney Joseph Wrobel earning a degree and being due a job in your field is yielding the right of way to making smarter and arguably safer choices with your time and money.
Bankruptcy Attorney Joseph Wrobel

Will the career you are going to school for exist in 20 years when you are still paying off student loans?

Consider careers in nursing versus computer programming. While the programmer may be easier to train in new IT careers, the specialized degrees may not be as valuable in the future, especially when you consider technology and how quickly things change. For tech lovers choosing an affordable college, there are many local community college programs offering certificate programs in the foundation skills a tech industry worker needs to be able to continue learning and training on new technology as it develops.

Nursing, however, will always be necessary. For anyone committed to a nursing career, the time and money spent on a reputable college nursing degree may be worth your resources. That said, what if you decide down the road that nursing is too stressful, and you want to make a career change. Ask yourself what your base education is worth in other careers and industries and will you need to go back to school for more education and training?

Do you need to work full time, or can you take more time to pursue your education while keeping food on the table? Choosing an affordable college sounds like a smart idea. 

When some people go to school full time they take on extra student loans to pay for housing and living expenses because they are not working during college. While some students are living on their parent’s support and have the luxury of not working and not taking additional student loans, they not be better off if they do not maintain a job and work ethic while in school. For many students, the flexibility of part-time and online course alternatives makes it easier to work and go to school. It may take longer to finish your education, but you can help pay towards your tuition while you are going and will have significantly less student loan debt when you graduate.

Know what you are getting into when you take financial aid and student loans to avoid buyer’s remorse.

Have you ever read the fine print when buying a car? You may nod your head and just sign on the dotted line. When you do this with student loan financial aid packages you might be putting yourself in the path of a bad deal and significant consequences if for some reason you are unable to make your regularly scheduled loan payments.

We recommend reading this CNBC article, How to pick a college that won’t leave you with a mountain of student loan debt to read some of the alarming facts and figures that might prompt you to play closer attention to what may seem like free money at the time.

At Joseph Wrobel, Ltd., we want everyone to take control of their financial future and success by sharing smart financial information and helping people working to reach their financial goals.

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start. (312) 781-0996.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

Chicago Bankruptcy Q&A Podcast with Joseph Wrobel: November 2017

Chicago bankruptcy and consumer credit attorney Joseph Wrobel shares news and updates in bankruptcy law as well as business and consumer financial matters. It has been documented that financial troubles can cause all sorts of ailments, the most common of which is sleeplessness. Joseph Wrobel helps clients alleviate their anxiety created by the inability to pay bills and the embarrassment of financial distress.

Chicago bankruptcy
Helping people get out of debt with dignity and respect for over 40 years.

Sample questions answered in this 30-minute show: Use this link to listen anytime.

  • What happens when a corporation I sued filed for Chapter 7 bankruptcy?
  • Do I have to include my paid for automobile in my Chapter 7 bankruptcy?
  • What happens when my car loan co-signor files for bankruptcy?
  • What happens if a bankruptcy lawyer does not file my bankruptcy petition?
  • I missed my date to file a bankruptcy claim, what happens to my rights?
  • In bankruptcy can I pay for the value of my car instead of what I actually owe?
  • How will my ex-husband’s bankruptcy affect my home if he’s on the mortgage?
  • Can a family member loan me money for a down payment if I am in Chapter 13?

Joseph Wrobel has been a practicing attorney since 1973 and has experience in a wide variety of law relating to legal matters for individuals and families. Wrobel helps clients get out of debt and get a fresh start. He is an active member in several bar associations and the Bankruptcy Panel of Pro Bono Program of the Chicago Volunteer Legal Services. After serving the U.S. Army Reserve 363rd Civil Affairs Unit, Wrobel earned a B.A. in Psychology from Northwestern University and in 1973, he earned a JD from DePaul University Law School.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

Visit our Chicago Bankruptcy website online for more about the firm or call for more information at (312) 781-0996 or e-mail at JosephWrobel@ChicagoBankruptcy.com.

Podcast: October 2017 Chicago Bankruptcy Question and Answers with Joseph Wrobel

Joseph Wrobel is a Chicago Bankruptcy Attorney
Chicago Bankruptcy Attorney Joseph Wrobel

Chicago bankruptcy and consumer credit attorney Joseph Wrobel shares news and updates in bankruptcy law as well as business and consumer financial matters. It has been documented that financial troubles can cause all sorts of ailments, the most common of which is sleeplessness. Joseph Wrobel helps clients alleviate their anxiety created by the inability to pay bills and the embarrassment of financial distress.

Click/tap here to listen to this podcast interview anytime.

Sample questions answered in this 30-minute show:

  • How soon after filing bankruptcy can my divorce be finalized?
  • Can I file for bankruptcy to get rid of medical bills I cannot afford?
  • On Social Security Disability, can I have my bankruptcy fees and costs waived?
  • I am on the deed of my mother’s house and she is going to file bankruptcy, if she were to die, what would happen to the house?

Joseph Wrobel has been a practicing attorney since 1973 and has experience in a wide variety of law relating to legal matters for individuals and families. Wrobel helps clients get out of debt and get a fresh start. He is an active member in several bar associations and the Bankruptcy Panel of Pro Bono Program of the Chicago Volunteer Legal Services. After serving the U.S. Army Reserve 363rd Civil Affairs Unit, Wrobel earned a B.A. in Psychology from Northwestern University and in 1973, he earned a JD from DePaul University Law School.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

Visit our Chicago Bankruptcy website online for more about the firm or call for more information at (312) 781-0996 or e-mail at JosephWrobel@ChicagoBankruptcy.com.

Tips on creating new rewards by playing the money saving game

Saving money is just as easy as spending money when you save a little at a time. Have you ever considered making a budget and thought you had more money to save until you realized that you spend more on gas, food and extras? Spending and saving money are simple habits that we develop. The same way we get in the habit of stopping for coffee on the way to work, we can just as easily get in the habit of making coffee at home and taking time to read the newspaper before leaving the house. There are many articles written on theories and plans for budgeting money. As you consider them, you may find something that speaks to you and makes sense. However, you decide to budget and save to get ahead, doing something is better than nothing and every big goal is reached by many small steps.

Budgets and discretionary spending money

Discretionary spending is supposed to be the use of money on little things we want here and there after our primary financial needs have been met. When you write out a monthly budget of your primary financial needs, do you include money to be stashed away for savings or a rainy-day fund? If not, you might think again about calling “extra” money “discretionary” when you have no savings.

How much do you need to save for unexpected and future expenses such as retirement? It all depends on what you really need to live. The people who maintain high standards of living in luxury will require significantly more money in savings and retirement, than do those who live conservatively. One budget does not fit everyone, but there are a few guidelines, including how much money you might consider spending on your housing, for example.

Tips on budgeting and creating saving habits

In the article, How to Budget Your Money With the 50/20/30 Guideline, there are tips and examples of budgets that consider your goals and help you get ahead.

Habits and reinforcers, are they key to many smart personal savings plans. Just as we form habits of getting our coffee from our own machine or at a coffee shop on the way to work, we can form habits of stashing money away instead of spending to get a reward. When we spend money buying things and consuming we trigger the reward center in our brain. What if instead of instant rewards, we look closer into the reward of instantly increasing our power to buy something in the future?

Spend money investing in yourself. We all get bored and may want a distraction from time to time. These are the moments when we spend money doing something to entertain ourselves or take our minds of other things. Instead of running out and spending money on something you don’t need, spend the same amount on yourself by putting that money into a savings account. The next time you want to spend some money and earn a reward, take a drive to the bank and deposit some more money to your savings account. Your teller receipt will keep showing your growing balance.

Reinforcing positive spending habits and being proud of yourself

Ask yourself, would you rather have that money building in your savings or the other thing or activity you would have spent the money on? Even if you only save money every other time you want to spend money, you may choose to save more often than you spend.

As you continue finding little ways to save more money here and there you can watch your savings continue increasing, and that gives you the same reward sensation as buying or consuming something you like. Just as you can plant a garden, watch it grow and enjoy its benefits, you may feel very protective and proud of that money you were able to save.

Next, ask yourself how you can find some more money in your budget to add to your savings. By spending a little time and energy you can negotiate reduced rates for your household and utility bills – there may be easily be $100 or more you can find to save by simply reducing your monthly bills. As you continue finding more ways to cut spending and increase savings, you are reinforcing good habits and giving yourself a greater reward.

Spending and saving money are habits and after a bankruptcy, you can create some fantastic new habits that can lead you directly to financial success!

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!

 

 

Amnesty Week, collection fees waived in Cook County April 17 through 21

Want to save money? This coming week is Amnesty Week at the Circuit Court Clerk’s office. From this Monday the 17th of April through Friday the 21st your collection fees will be waived when you pay your fines in person or by phone.

For more information visit www.cookcountyclerkofcourt.org

Clerk Dorothy Brown April 2017 Amnesty Week flyer

About us: Joseph Wrobel, Ltd., works with clients to find out if they qualify for Chapter 7 or 13 bankruptcy, and their options and rights under the law. The firm will also advise and assist clients with questions and concerns about the collectors and their rights to pursue you.

Joseph Wrobel, Ltd. helps people get control of their finances and a fresh start at financial freedom. The firm’s website contains informative videos about financial issues as well as bankruptcy protection for families who want a fresh start.

Don’t forget to keep up with us on Facebook, Twitter, LinkedIn and Avvo, where you can read client and peer reviews!