It isn't often that a bankruptcy case goes to the U.S. Supreme Court. Nevertheless, the court will hear a handful of cases this term that will settle questions that the federal courts of appeals have not been able to agree on. These cases are not from Illinois, but the state's courts must follow the Supreme Court's decisions -- the legal landscape could change for debtors here, so we have to pay attention.
We have just a few more days to restrain ourselves from buying everything we and our loved ones have always wanted -- and getting it all at never-before-seen, low low prices, while supplies last! The Christmas sales will soon give way to the after Christmas sales, but, for most of us, the pressure will be off by the 26th.
This is one of the worst times of years for people who overspend. For compulsive shoppers, the guilt that goes with maxing out credit cards is assuaged a bit when the purchases are gifts for other people. The effect is the same, of course: a pile of debt added to the existing pile of debt.
There is a fine line between loving to shop and being addicted to shopping. There is a fine line between being an impulse buyer and being a compulsive buyer. And there is a fine line between manageable debt and nagging debt.
If you're like a lot of Americans who went to college in their early twenties, then you probably also accrued a large amount of student loan debt as well. At the time it was fine. You were hopeful that you could get a good job and have it paid off in a relatively short amount of time.