Posts tagged "debt"

Some in Illinois worry budget deal to avoid fiscal cliff could create crisis for them

Hundreds of Occupy demonstrators gathered in Federal Plaza on Dec. 6, 2012 to demand that Illinois Sen. Dick Durbin fight any cuts to Social Security, Medicare and Medicaid. The protesters created a cardboard shantytown encampment, which symbolized “where austerity is taking us,” organizers said. Photo by Jonathan Gibby.
Meet Sara Moore. She’s 78 years old, lives in Lakeview and struggles with chronic pain after fighting two bouts of cancer and dental surgery. Moore depends on Medicaid, Medicare and her Social Security check to make ends meet. The Medicare pays for her home caretaker who does her shopping, gives her a shower, cleans her... Read more »

Debtors Rights Act could keep many out of prison, but some may still slip between the bars

Debtors Rights Act could keep many out of prison, but some may still slip between the bars
Most people that wind up in prison over unpaid debts owe around $250, says Beverly Yang, staff attorney at the Land of Lincoln Legal Assistance Foundation, Inc. But their debts aren’t often why they end up behind bars. “No one can be arrested for owing money,” said Michelle Weinberg, with the Legal Assistance Foundation of... Read more »

Did inequality create our deficit?

Yesterday, we examined seven ways to measure social inequality–how far the poorest of the poor are from the richest of the rich, and what share of the economy everyone in-between holds. By every measure, the United States has been becoming more unequal in the last 30 years. During this time, we’ve also seen mounting deficits.... Read more »

Why 13 is an unlucky number for Cook County families

It’s something you hope never happens to you. But 117,630 families in Cook County have faced it in the last five years: bankruptcy. While bankruptcy has the reputation of being financial rock bottom, it’s actually designed to be helpful–a fresh start for people so burdened by debt that they may never get out from under... Read more »