Chicago Bankruptcy Lawyer Blog

It’s less than 48 hours until the ball drops and I couldn’t be happier. Usually, I’m a bit wistful before New Year’s—excited about the change, but reluctant to let go of the past. Not so much this time. With 2008 almost behind us, I’m looking forward to a chance to finally wipe the slate clean. Though in reality, a new year is just a flip of the calendar, there’s no denying it has a strong psychological effect, one that we can use to our advantage.

For the first time in a long time, improving finances just might surpass losing weight and quitting smoking as the top New Year’s resolutions (though if you stop smoking, it’s a sure way to save money—along with, you know, extending your life). It makes a lot of sense. While we don’t have power over the economy, making a resolution gives us a sense of control—however small it may be—over our own lives.

Unfortunately, many resolutions are broken because they’re made amidst all the holiday excitement, and aren’t necessarily realistic. For the best chance of success, try aiming for a New Year’s resolution that is both specific and doable. For instance, if you just tell yourself this is the year you will get out of debt, improve your finances or spend less, you’re going to have a hard time meeting your goals because they’re so broad. Everyone wants to do those things, but many of us don’t succeed because we don’t draft a real plan.

I find it always helps to write a resolution down. That way, it becomes real—something to be checked off the to-do list. While you’re at it, you can break it down into the steps it will take to reach your ultimate goal.

Say you want to start saving. Hey, if just saying you’ll save money is enough to get you to do it, more power to you. But more likely, if saving was that easy, you probably would have started doing it already. Instead, try breaking the main objective down into smaller, more manageable goals.

For instance, could you make your daily coffee shop run a special treat instead of a routine? You could save up to $20 a week that way. I’m sure you could brainstorm a few other ways to cut back (check out the Give Yourself a Raise Flyer in our free Debt Relief Toolbox for ideas). Or maybe you’re already being thrifty, but the problem is the savings never makes it into the bank. How about setting up an automatic deposit? Decide how much you can handle socking away each month, and your bank will put it in your savings account for you.

If you really want to get the ball rolling, you have to first take some kind of action. If you live near Chicago or Atlanta, consider making one of our upcoming DebtStoppers community workshops part of your resolution plan. You can sign up here for the Jan. 15 workshop in Chicago or the Jan. 22 event in Atlanta.

Along with the chance to ask questions and get expert advice on debt, saving, foreclosure, bankruptcy, avoiding scams and more, you will also be entered into a raffle for a Dell laptop or a GPS system. And don’t worry about grabbing dinner before attending—the food’s on us.

Don’t fret if you can’t make it, though. You can still get personalized help by signing up for a free one-on-one debt analysis with one of our debt relief experts. Or, as mentioned earlier, register to receive a toolkit packed with useful tips and advice on all your financial needs. It’s all free and just a mouse click away. It just might be the easiest New Year’s resolution you will ever keep.

Christmas has come and gone, but the holiday traveling season is still going strong. Today I’m visiting my brother—a day’s drive away—and soon I’m headed to see some extended family—another full day of driving. Typically, this would mean a couple trips through the drive-thrus of those artery-clogging, oft-hated (yet oft-eaten-at) fast-food joints. Occasionally, we’d stop in a café or diner (also artery-clogging), though it wouldn’t be long before my lead-foot boyfriend was itching to get back on the road to make good time.

But on this road trip, inspired by our enormous supply of Christmas leftovers and our quest for speed, we packed our own food. And for the first time I can remember, we actually stuck to our plan and ate it.

Maybe it’s the economy that finally knocked some sense into us. Sure, Mickey D’s has a dollar menu, but fast-food adds up when you eat it three times a day. Between the two of us, a fast-food breakfast, lunch and dinner would be at least $30. Still cheap compared to sit-down restaurants—which could set you back about that much per meal, not per day—but it’s $30 you don’t have to spend.

We packed bread, peanut butter and jelly, cheese and crackers, nuts, granola, apples that didn’t make it into pies, fruit baskets we got as gifts and, for dessert, tons of Christmas cookies (thanks, Mom!). We also brought our morning coffee in mugs to thwart the siren call of Starbucks.

This killed two (actually, three) birds with one stone. First, we saved money. It probably cost about $2 a day to eat our supplies. Second, we saved time. We didn’t have to wait in line, or for the waiter to bring the check. Yeah, we stopped for gas and to stretch our legs, but it was on our own time. Lastly, we saved our health (not counting the cookies—but everyone needs a treat in moderation, right?). I never feel good about packing away the fried food while I’m on vacation, but I eat it for convenience (that’s my excuse, anyway). This time, that excuse wasn’t an option.

I don’t want to sound preachy, because it’s not like I’ll never eat fast-food again. I’m not gonna lie—sometimes I crave a salty, mass-produced burger and fries. But I’d like to cut back. And while my health and my wallet might not be strong enough incentives alone, together they make a pretty good motivator.

What you eat is up to you (fortunately, there are no diet police—otherwise I’d have been in jail a long time ago). But if you get in the habit of packing simple supplies when you hit the road—or an easy but fairly healthy lunch when you head out to the office or send your kids to school—knowing you already brought food will give you and your family the strength to ignore the calls of the vending machines and Burger Kings. You don’t want to waste what you packed, you know it’s better for you, and it’s a heck of a lot cheaper (hey, it might save you even more money in the future, when you don’t have that heart attack).

But keep in mind it’s not only physical health that affects the quality of life. Financial health is important, too, because a sickly pocketbook can take a major toll on emotional well-being. If your money situation is making you queasy, why not have an expert take a look at it? The financial doctors here at DebtStoppers will give you an introductory check-up for free. With just a click of the mouse, you can sign up for our one-on-one debt analysis. And if you’re near Chicago or Atlanta, why not sign up for one of our free community workshops in January? You’ll be able to chat with experts about finances, foreclosure, bankruptcy and more. We’ll even feed you a hot meal—on the house!

Per tradition, my family pulled out our stash of Christmas movies last night. For the next couple days, we’ll embark on a marathon of classics like “A Charlie Brown Christmas,” “Miracle on 34^th Street,” “A Christmas Story” and, of course, “It’s a Wonderful Life.”

Watching them has taken on newfound importance this year, what with the significantly sparser display of presents under the tree and decorations on the walls. So have the meanings embedded in the movies themselves.

Take “It’s a Wonderful Life” for example (I’ll refresh your memory a bit in case you haven’t seen it in awhile—or at all). Set in the Great Depression, the movie is about George Bailey, a kind-hearted man who has never been able to escape his small hometown because he keeps putting other people’s needs before his own. He eventually takes over his dad’s bank—the Bailey Savings & Loan—and starts trying to fix up the slums in his town, ensuring that everyone can afford a house.

When some money is misplaced on Christmas Eve, George is unfairly blamed and tries to commit suicide, thinking everyone would be better off if he were dead. To make a long story short, an angel comes along and shows George how many lives he has touched. George realizes that the world and his family need him and decides to live—and in the tearjerker of an ending, all his friends and neighbors come together to give him enough money to cover the loss.

Yes, it’s sappy and unrealistic in a lot of ways, but it’s also poignant.

At one point, there’s a run on the Savings & Loan in which panicked customers desperately try to retrieve their money (which of course isn’t actually in the bank—but has been loaned out to finance houses, business, etc.). In turn, this leads to further doubt about the bank’s solvency.

That scene seems all too familiar in light of the recent collapse of the real estate market and major banks—not to mention a slew of other businesses. Like in the movie, people today fear for our future. It’s hard stay upbeat when we’re losing our homes and our jobs, and struggling to put food on the table and gifts under the tree. Yet it’s all too easy to feel lost—to succumb to our perceived helplessness.

But, as George Bailey learns in the end, happiness isn’t about money or possessions—it’s about the simple things. You can see the same theme repeated in just about any popular holiday film—finding the beauty in a homely little tree in “A Charlie Brown Christmas,” or the power of kindness in “A Christmas Carol” or acceptance in “Rudolph the Red-Nosed Reindeer.” The holidays aren’t about things; they’re about feelings, ideas and, most importantly, people (or deer, in the case of “Rudolph”).

Of course, as all know, real life is no movie. There’s no guaranteed happy ending. Things aren’t always black and white. Characters on a screen don’t feel sadness or hunger like we do in real life. But the beauty of real life is that we don’t have to follow a script. Unlike on TV, we can write our own ending.

So if things seem particularly bleak this Christmas (or Hanukkah, or whichever holiday you and yours celebrate), vow to make next year a happier one. Give us a call or send us a message here at DebtStoppers. We’ll help you get back on your feet. In the meantime, enjoy your holidays and look forward to a bright and happy New Year.

Today, we put up our Christmas tree.  A lot of the lights wouldn't work, and some of the decorations didn't look that fresh any more and I really could have used a new angel - this one looks like hell.  But the truth is I just didn't have the wherewithal to go out and buy new stuff.  I also didn't have the money to go out and buy new stuff.  So, I made do with what I had, and though it looked to me a little sparse in some spots, the kids (naturally and thankfully) still think it's beautiful.

I think a lot of people are not in the holiday spirit yet, despite the fact that Christmas is only days away.  Certainly, in most of the country, Mother Nature is doing her part to give us (well, not me, of course) a white Christmas.  Maybe it's because she realizes that if she doesn't dazzle us now with a bit of the white stuff, it's really going to be a bleak holiday for a great many individuals.

Christmas presents, if there are any, are significantly fewer than they were just last year.  Retailers know this, and that's why they are filling our email boxes with last minute enticements of coupons and free shipping and guarantees to get it before Christmas.  The fact is no one has the money.  Heavier mortgage payments, mounting credit card bills, escalating utility payments and hefty gasoline purchases earlier this year have eaten through nearly everyone's budget.  What little money there is left has to be set aside for other essentials, like food, clothing and medical expenses.  There's precious little left for gift giving.

That's another reason for the dearth of ho-ho-hoes.  It's the same for us; I can fit all of the holiday presents for my three kids in a small box and have lots of room to spare.  I dare not put it under the Charlie Brown tree in advance of the big day, or there are going to be three very long, very sad faces moping about our house in the interim.  My mother would, no doubt, remind them that "good things come in small packages" but kids don't think like that, at least mine don't.  They, as probably all kids, think like this:  Bigger is Better and More, More, More.

And you know what, that was the heart of the problem, wasn't it?  The reason we are all in the predicament that we're in is because we thought and acted like a child.  We didn't understand about buying and spending in moderation, or saving for a rainy day.  It was carpe diem all around.  In retrospect, I wish I hadn't seized the day quite so often or hard.  We're certainly all paying the price, aren't we?

But, just like a child, who lives only for the moment, we don't need to dwell on what is past.  We can learn from it, and while it's been a hard lesson, I'm pretty sure it's one that will stay with us for a while.

But what doesn't have to stay with us for a while is the debt that put us in this horrible situation at what should be such a joyous time.  Let this Christmas be the last melancholy one that you and your loved ones ever have to celebrate.  DebtStoppers wants to give you a Christmas present this year:  The chance to make your 2009 Christmas a better one.  Contact us, and we'll tell you how it can be done.

It seems Uncle Sam has learned a thing or two from the credit crisis. Spurred by pleas from thousands of Americans, the federal government just adopted a set of reforms designed to make the credit card industry more consumer friendly. Included are longer payment notifications and limits on the ability to raise interest rates (it’s about time!).

But here’s the downside. Changes won’t go into effect for a year and a half. That could be the course of the recession (if we’re lucky enough for it to be that short)—the time when you need the most protection from greedy bankers. So if you need help now, it looks like you’re going to take matters into your own hands (we’ll be here for you, though—read on for advice on cutting your ties with credit).

But in the meantime, just what can you expect in July 2010?

I’m most excited about the limit on interest hikes. With consumers holding about $850 billion in credit card debt, this one is a biggie. Currently, banks can increase rates at any time. So if you carry most of your debt on a low-rate card (say, 8 percent), there’s nothing to stop your creditor from suddenly deciding to charge 30 percent—which could be totally devastating to your income (not to mention your credit). But no more, thanks to the government. Banks will only be able to raise rates on new cards and future purchases—not existing debt.

New rules also protect against unfairly shrinking payment periods. Have you ever had a bill arrive while you were on vacation, and then gotten slapped with a late fee even though you mailed it immediately after getting home? Just last month I left a bill on the coffee table for a few days before opening it, and had to pay extra to have it sent overnight. Turns out I had received it just a week before it was due. But starting in 2010, Uncle Sam is mandating a 21-day payment period—and even longer when due dates fall on weekends. Regulations also end double-cycle billing, in which consumers are billed for retroactive interest if they miss a payment.

Additionally, credit card statements and terms are required to be more transparent and companies are expected to give consumers 45 days notice before making any changes to accounts, including higher late fees. In all, the changes could mean $10 billion in lost revenue for credit card companies (gee, don’t you feel sorry for them?).

Of course, the new rules could also potentially make it harder to get a card if you have bad credit. But if that worries you, maybe you should ask yourself why you want to open another card when you already have trouble paying off the ones you have. Why sink further into debt when you can use this opportunity to start freeing yourself from it?

It’s never too late to wean yourself off credit cards and the lifestyle that comes with them—spending more than you earn, stressing to make payments while watching your debt grow to monstrous proportions, etc.

Visit our video center to learn to “Get Off The Credit Card Merry-Go-Round” (and check out our other videos on issues like bankruptcy and foreclosure while you’re there). While you’re at it, consider a free one-on-one debt analysis with one of our attorneys.

Why wait 18 months for a credit break when you can break free from debt today?

When I was a kid, I had a friend with “green” parents. But the term green in reference to being eco-friendly had not been coined yet. So we just called them weird.

They grew all their own vegetables, baked their own organic wheat bread, recycled everything and, in general, worried a lot about the environment (her dad also did yoga, which was getting more common but was still lightyears away from being trendy). In the mid-1980s, they were considered liberal, eccentric hippies. Today? They’d be called an average American family. They would be cool.

So what does hippie-chic have to do with your finances? Well, just like the green scene caught on, I have a hunch that financial responsibility will, too.

Times are already changing. Up until the last year or so, people would talk about money—but it was only half the story. We’d flash our credit cards and discuss the things we bought—from the latest cell phones and tech gadgets to our new cars (probably SUVs)—but not how we would pay them. To keep up with the Joneses, we’d purchase publicly and struggle privately.

But I bet if you look around today, you’ll find someone who cut up all her credit cards, someone openly on a budget and someone in danger of losing her home (and probably quite a few people dealing with all three).

Our attitude towards debt is changing. Take foreclosure, for instance. The old way: you can’t make your mortgage payment, but instead of asking for help, you hide the bills and late notices and suffer silently so no one finds out—not your neighbors, co-workers, sometimes not even your spouse. Of course, you’re only putting off the inevitable, as they’ll find out in the end when the bank nails a “foreclosure” sign in your front yard.

I prefer the new way: you let friends and family know you’re in debt, and working to get out. You explain why you can’t go out to dinner or the movies or Starbucks as often, maybe why you can’t exchange presents this year. Heck, they’ll probably tell you they’re doing the same. It seems even the Joneses have gone budget chic. Then follow through on your words. Make a budget and start saving. Look into Chapter 13 bankruptcy. With 10 percent of the nation facing foreclosure, it’s time we get over this bankruptcy stigma.  What’s so bad about saving your house by getting on a payment plan you can actually afford? It sure beats the alternative.

Our stance towards debt is softening. What used to be viewed as a weakness is now seen for what it really is—a common symptom of a national illness (credit dependence). And you should feel rewarded—not punished—for trying to treat it.

If you’re ready to join the bandwagon and bring your debt out into the open, DebtStoppers is here to help. Check out the tried-and-true tips in our new Debt Relief Toolkit. Or come and talk to us at one of our free workshops in Atlanta or Chicago. Not sure where to start? You’re always welcome to sign up for a free one-on-one debt analysis with one of our debt relief experts.

This recession won’t last forever, but despite all its drawbacks it’s changing some things for the better while it’s here. As a nation, we’ve been in denial for decades. Now we’re finally starting to see the light.

I hate being in pain; a headache, stiff knees, allergies, sore throat or any ailment that affects me gets fast treatment. I don't enjoy taking medicine, but I absolutely hate pain. And if there's a way to get rid of my pain, then I'll find it. A lot of people, though, don't like to take medicine, despite the level of pain. They'd rather suffer, even though it may be hours or even days before they "naturally" get better, than take an aspirin or an anti-biotic that will help them deal with their malady promptly.

That is, after all, a personal choice, so if they don't want to take something that can help them, that's their problem. I accept that. What I can't accept is the whining and crying that this martyr inflicts on the rest of us. You know what I mean, I'm sure... "Oh, my throat is so sore that I can hardly talk, much less swallow." And I'm thinking, "Shut up, then!" Or this person walks around slowly, moaning and groaning all the while about how much they ache, and it's all I can do to keep my eyeballs from rolling up into my head. You want to suffer? Good, suffer in silence, then. Sheesh.

It's interesting, but I'm finding that there are a lot of people around who feel the same about their finances, specifically, their debt. I guess you could call them Debt Martyrs. They are the individuals who would rather suffer with the pain of their debt burden, than accept a remedy. I have to ask it... Why? Do they consider themselves weak for needing help, or unworthy or deserving it? It's highly doubtful that there will be a stained glass window built in their honor when they've gone on to a better place.

Some Debt Martyrs will argue their point with an idiom... "I've made my bed and now I'm going to lie in it" or "I accept the consequences of my actions." I'd have to counter with a couple of idioms of my own; how about, "Bad things happen to good people" and "Mistakes happen." Okay, that wasn't really the words I was going to choose, but this is a family blog, after all.

Yes, you can accept your debt and suffer with it, though it may be years and years before you've got it under control. In the meantime, everything else suffers because of it, most importantly, your quality of life. Consider a migraine that you try to ignore; it begins to affect your thinking, your work, and your health to a greater extent than just your head. Eventually, you just want to go hide in a dark room until the pain passes.

A lot of people have differing opinions (and misconceptions) about bankruptcy. If you need more information about bankruptcy, please take a look at the DebtStoppers Bankruptcy page, or visit the DebtStoppers Video Learning Center to view several videos on the topic of bankruptcy, including Chapter 13 Bankruptcy - A Step by Step Guide, Will Personal Bankruptcy Ruin My Credit? and Is Personal Bankruptcy Just the Easy Way Out? Or simply contact our DebtStoppers bankruptcy and debt relief attorneys and we'll answer all of your questions.

Personal bankruptcy is not a sin or something to be ashamed of, and it's not a panacea. It's the smart way out of debt and a way to avoid potential foreclosure. Think of it like this: Bankruptcy is to debt as aspirin is to a headache. It's really as simple as that.

Before you groan at the thought of yet another holiday-themed post, hear me out on this one.

Nearly everyone will have some sort of get-together before the month is out, whether it’s a holiday cocktail party, traditional family gathering or a New Year’s Eve bash to ring in 2009. Problem is, it’s too easy to overspend. I meant to throw a low-key Christmas open house last year. But before I knew it, I’d raided the Christmas décor section at the Crate & Barrel (it was on sale, but still expensive!) and bought ingredients for a bunch of pricey appetizers, including three out-of-season tropical fruits for my "festive" martinis. Then, of course, I started thinking about investing in a new cocktail dress to go with those fancy cocktails…

Needless to say, it doesn’t take long to break the bank. But while you might bask in the glow of your hosting triumph temporarily, you won’t be too happy once your guests have cleared out and you’re left to look forward to the new year with a stocking full of debt (and that’s before the bills from your Christmas shopping adventure arrive).

But your soiree doesn’t have to bust your budget. Of all holiday seasons, people will be most understanding if you go frugal this year. Fortunately it’s becoming almost trendy to be low-cost. What used to be something you didn’t talk about—like sex and politics—has been swept out into the open. So embrace your budget-consciousness, and use it to throw a party that focuses on what really matters—quality time with friends and family. For inspiration, check out the get-togethers I’ve recently attended on-the-cheap.

Swap cookies

I assume the cookie exchange is not a new idea, but I swear that until now, I’d never heard of them, let alone been invited to one. This year? I’ve been to two already and am considering a third. Cookies have caught on like wildfire because they are easy—and affordable—to make and give. It’s really just a new take on the age-old potluck party. When you invite friends, ask them each to bake their favorite holiday cookie. Then you split them up and everyone takes home a sweet variety. Of course, the traditional potluck party works just as well—and provides a more well-rounded meal. The theme is up to you.

Play games

Kids always seem to have the best time around the holidays. Sure, it could be because they get the best presents (what kid has to feign a smile after opening up a pair of socks?). But I think it’s because, unlike us adults, kids know how to relax. Maybe that’s because they know how to play. But they don’t have the Monopoly (get it?) on fun. Set out some easy (and cheap) snack food and break out the cards, dominos and board games. Laugh, goof around, and forget about your troubles for the night. That’s what the holidays are supposed to be about.

Watch movies

Get out your stash of holiday-themed DVDs—sentimental or hilarious—and ask your guests to bring theirs as well. Or break out the home movies. Pop some popcorn and make some hot chocolate while you relive old times. Maybe play some cinema-themed trivia. It’s a heck of a lot cheaper than going to the theater.

Of course, you shouldn’t feel limited to these three suggestions. I’m no professional party planner. But these are the kind of parties that have kept my spirits up this year. It’s amazing—it seems like the less I spend, the more I focus on the feeling of being with the people I love. It’s a welcome distraction.

Holiday gatherings ought to be joyful—not painful. If you find yourself feeling pained because you feel you’re pinching pennies to no avail, give yourself the gift you really need this year—relief. Debt relief. Check out tips on saving money, stopping foreclosure and more in our new (and free!) Debt Relief Toolbox. For immediate help, sign up for a free personalized debt analysis with a DebtStoppers attorney. So you can spend more quality time with your family—and less time worrying about your wallet.

I’m a sunshine-loving California girl. So it should come as no surprise that this winter thing is a little hard for me to stomach. It’s freezing cold in the mountains where I live and though we haven’t had snow yet this year, the ski resorts are praying it will come soon. I, however, am not. If I could crawl in bed and hibernate for a few months, I would.

Christmas is good motivation to make it through December, but once January hits, I’m dreaming of Hawaii. And in years past, our house has fittingly felt like paradise. I like to compare myself to a tropical fish—I do best at temps approaching 80 degrees. So I’d crank the thermostat well into the 70s. Friends would visit and it wouldn’t be long until they were stripped down to their T-shirts. Forget Christmas in July; this was July during Christmas.

Comfort came at a price, though: an astronomical heating bill, to be exact. Up until now, I didn’t mind too much. It was an extravagance, but it was important to me. This year, my significant other finally convinced me it might be time to embrace the cold and save our budget. Instead of setting the thermostat at 72 degrees (or higher if I was really cold), we’re keeping it at about 65 during the day. At night, we turn it down to 60 (he’d like to keep it at 55—or off—but I’m not ready yet). When we’re gone all day, we turn it off. We’ve been keeping up our chilly little experiment since October and so far our bills have been on average $50 lower.

I’m not sure how long I can keep it up (my teeth are chattering as I write this), but I’ve been taking a look at last month’s billing statement every time I waver. It helps. So do the layers upon layers of blankets and the down comforter on the bed.

If you’re not as thin-skinned as I am, you might already be setting your thermostat pretty low. But you can still save some dough by kicking it down a little or turning it off when possible. Start with just one or two degrees, and if you can live with that, keep going until you reach your lowest comfort level. Of course, if you live up north or anywhere temperatures can drop dangerously low at night you should keep the thermostat on for safety while you sleep, preferably at 55 degrees or more (if you can’t afford to heat the house, period, please bundle up so you don’t freeze!) You also don’t want to turn it off if you think the pipes in your house might freeze.

Benefits go beyond the heating bill. Because your house will be cooler, the refrigerator and freezer won’t have to work as hard, so you’ll use less energy. If you keep a real Christmas tree in your home this season, it won’t dry out as fast. You might even burn more calories staying a bit colder (OK, maybe this is just wishful thinking spurred by all the Christmas cookies I’ve eaten lately).

For even more ways to save, check out our updated Give Yourself a Raise flyer, one of the “tools” in our new Debt Relief Toolkit. Need more immediate help due to overextended credit cards or too many missed mortgage payments? Give us a ring or click here at DebtStoppers for a free personalized debt analysis. Knowing you’re on your way to financial freedom will help warm your spirits, even when it’s cold outside.

My idea of gift giving getting smaller is this: Spend less money. That's not exactly a novel concept. But the trade off to spending less may also mean more work for you - more time, more effort, more thought may have to be put into the gift, in order for the gift to be meaningful. In order for a gift to be appreciated, it should mean something, either to the giver or the receiver, and then it is one that will be forever treasured. A gift without meaning is destined only for eBay or the garbage dump.

I remember my mother accepting some really odd (i.e. tacky) gift from a neighbor one year and commenting (afterward, of course), "What the hell was she thinking, giving us this?" My mom's comment stuck with me for three reasons: First, because we never expected a gift from a neighbor, second, we'd never have thought less of her for not giving us a gift, and third, it spoke volumes about what she really thought about us. In simple words, we weren't worth the effort.

Some people say, "It's the thought that counts." But I disagree. It only counts if you put some thought into it. I'm not an advocate of buying a gift for gift-giving's sake. Instead of spending more money this year, just put more of yourself into your gifts.

Consider the gleam in a child's eye when you give him a dollar or two to buy a gift for someone else. He takes his time searching the aisles for the perfect present. All of the suggestions you make are shot down with deadly aim, and your efforts to steer him towards a more "appropriate" gift are promptly thwarted. And the presentation of the gift is a large part of it; it must be wrapped up just so. It may still be a dollar store piece of junk to most people, but to the recipient, who knows how much effort that kid put into its purchase, it's a treasure. Few mothers, for example, ever part with the first special gifts from their children - whether they're bought with a dollar or made with little hands.

With just a little money and a lot of ingenuity or imagination there are plenty of wonderful gifts that can be bought. For many of us who are finding that we're more cash-poor than we've ever been at holiday time, it may be time to think of the most important thing that you can offer beside cash, and that is your time. Likely, that will involve the offer of a helping hand, a shoulder to lean on, an ear to listen with, or merely a hand to hold on to. Those things cost you hardly anything, but to someone else in need, they are absolutely precious.

DebtStoppers bankruptcy and debt relief attorneys would like to offer you something equally as precious: The gift of our time and experience. We want to help you make this the last holiday season where you will worry about your finances, or struggle with a high debt burden or too many credit cards. Contact us, either by phone or through this internet link, and let us help you by making an appointment to visit with one of our DebtStoppers bankruptcy and debt relief attorneys to talk about what the future may hold for you.

If you're looking for something that you can put under your tree, click here for the DebtStoppers Debt Relief Tool Kit. You won't find anything remotely resembling household improvement tools like a wrench, hammer or pliers. But what you will find are tools of another sort - the kind that benefits your bank account- brochures offering our expertise and advice on bankruptcy, investing, saving, beating the recession and giving yourself a raise with money you didn't even know you had to spare.

You will find that DebtStoppers may very well be the best gift you could ever give to someone who really needs it: Yourself.

First the bad news. Americans lost 533,000 jobs in November—the worst string of layoffs in three decades. Suffering businesses are cutting employees loose in all forms—old-fashioned layoffs, buyout and early retirement packages, and company closings. In total, almost two million people have been let go from the job market since the recession began a year ago.

Now the good news. OK, so calling it good might be a stretch. But put your rose-colored glasses on and imagine for a minute that the glass is half-full, because an optimist would look at this as an opportunity in disguise.

If you’re one of the lucky ones still earning a paycheck, consider this your wake-up call—a chance to snap out of complacency.

If you haven’t started an emergency fund already, it’s time to get saving. You should be keeping at least 10 percent of your take-home pay, ideally to invest for the future. But before you jump into the stock market with your stash, make sure you have enough to live a minimum of six months, sans job. If disaster strikes and you can’t work due to illness, you lose your home or—probably the most likely—you get laid off, this will keep food on the table while you handle the situation.

But that’s just the backup plan. You want to keep your current job, right? To increase your chances, you need to strengthen your work image.

You goal is to do all you can to become invaluable to the company. If your bosses like you as a person and a worker, they will probably put a good word in for you if your name comes up. This is not the time for slacking. Remember how careful you were when you landed your first real job? You probably dressed professionally, arrived on time and went out of your way to impress your supervisors. It’s time to resurrect that enthusiastic young version of yourself.

Show up on time (even better, get there early), meet deadlines and forget about casual Friday. Avoid conflict and don’t complain, whine or point fingers at co-workers (you do have the right to stick up for yourself, however). Overall, you want to strike a balance between flying under the radar and cultivating a positive image.

Maybe most importantly, come to work. It’s one thing if you have a flu so bad that you can’t get out of bed, but a common cold? Suck it up, brew some tea and come in to the office. Yes, you might be contagious. Yes, it might be uncomfortable. But the truth is, whether it’s unconscious or not, employers respect people who tough it out. It’s understandable to stay home if your kids are sick, but try your best to have a grandparent, close relative or trusted baby-sitter watch them if possible.

In the meantime, polish up your resume, just in case. And if you do find your job is on the chopping block, consider pledging to work for a smaller salary. It might be cheaper than job hunting, and you can always look for a better job in the meantime.

What if you’ve already faced the worst possible outcome—you lost your job? Use this breather to reassess your career. Are you happy in your line of work? If not, this might be just the jolt you needed to change your routine and pursue your dreams.

Now, I don’t mean to gloss over the hardship of job loss. I know it’s no picnic.  Money will undoubtedly be tight, especially if you have debts to pay—and most Americans do. In fact, ten percent of homeowners are either behind on their mortgage payments or in the process of foreclosure, and that number is expected to grow with unemployment. But you don’t have to become a statistic, if DebtStoppers has anything to do with it. Take advantage of our free one-on-one debt analysis or sign up for one of our free community workshops in Chicago or Atlanta (bonus: there's free food and a laptop giveaway). When you’re worried about making a living, you shouldn’t be worrying about losing a place to live.

Last week we heard more bad news on the economic front. Government officials said they expect the recession to stretch into next year. They also pointed out a few more gloomy facts: the last time Americans cut back this much on spending was right after the 9/11 terrorist attacks, new home sales are at the lowest in almost two decades and jobless claims are sharply rising.

Now, I definitely don’t advocate sweeping the truth under the rug—the economy is in a bad place and it’s beneficial to know how it got there. And I’m proud to live in a country that celebrates the freedom of speech and opinion. But sometimes it seems like the media is being, as my mom would put it, a Negative Nancy. Or maybe it’s not that the media is any more negative than it used to be, but that, living in the electronic age, we’re barraged by news on the TV and on the Internet at rates unlike anything in the past. Back then, you could just flick off the radio or choose not to look at the paper. Now it’s in your face from the moment you turn your monitor on at work.

So I’ve started to tune out the news. I’m not in denial. I know we’re in a recession. Unlike the National Bureau of Economic Research (which just officially recognized that fact yesterday, for crying out loud) most of the country could have told you we were in a recession a year ago.

You don’t need to hear what you already know. So my suggestion is to give it a rest this holiday season. Tune out the media and listen to yourself—and your family. Start by using your own common sense to guide you through the hard times.

For instance, you know that food is expensive. Eggs, bread, milk—all the staples have gone up thanks inflation and increasing (until recently, anyway) fuel costs. So you could feel helpless, or you could do something about it. Buy cheaper brands, clip coupons and eat out less.

OK, now let’s look at some heavier dilemmas. Maybe you can’t afford house payments and the bank is threatening foreclosure. What’s your plan of action? You could panic and do nothing. You could listen to the news—which dwells on the fact that more people than ever are losing their homes—and simply give up hope because foreclosure seems inevitable. But those aren’t very satisfying solutions. They aren’t even real solutions! Here’s one. Did you know that there’s a sure way to hold onto your home? It’s called Chapter 13 bankruptcy, and it’s your right as an American citizen. But reporters don’t talk about it on TV because it’s good news—and they think good news is boring.

DebtStoppers has the scoop on whether and how to file for bankruptcy—along with a game plan for managing your debts. A quick phone call or email is all it takes to get going. Start by signing up for a free one-on-one debt analysis.

If you have a hard time finding the light at the end of this economic tunnel, try looking at the positives. Like the fact that gas is way cheap! If you would have told me this summer that gas would drop below $2 per gallon in my lifetime, I would have called you a dirty, rotten liar—or just laughed hysterically. But it happened. My gas bill has been cut in half, giving my budget some greatly appreciated breathing room. I hope you’re taking the time to enjoy this moment as well. It won’t last forever. But nothing does.

Just take it one day at a time and don’t lose your head. Keep up common sense financial strategies—practice a little restraint, ask for help when you need it and prioritize paying off debts and saving money. If you keep your wits about you, chances are you will look back on this time in your life with different eyes. You might not look back and laugh, but I bet you will smile knowing that it was today’s trials that made you stronger for tomorrow.

I confess—I’m a penny pincher. I don’t mean that I’m thrifty (actually, quite the opposite—I’m trying to learn to spend more cautiously). I mean that I literally save pennies.

When I see a penny on the ground, I have to pick it up. Even when it’s not heads up. Even if it’s not shiny. I guess I’ve always had a soft spot for lonely coins. I also try to save my own change as much as possible. In fact, up until earlier this month, I had been diligently socking away my collected and saved change for the last six years. Eventually, the five-gallon plastic bucket I was dumping it in threatened to break, so decided I’d better cash in. I walked away from the bank with a nice early Christmas present—more than $400.

But let me back up a minute. I’m not saying you should wait that long to break into your piggy bank. Had I turned those coins into dollars and invested them long ago, I’d be sitting on some pretty interest right now. What’s one of the first things you learn in Savings 101? Don’t keep your money under the mattress. Inflation will eat away at it, and it will be worth less tomorrow than it was today—that’s why you want to put it to work earning interest.

But the only thing more important than saving wisely might be saving, period. I say it’s better to have saved and lost (some interest, anyway) than to not have saved at all. If you notoriously live paycheck to paycheck, putting coins in the piggy bank is an easy place to start building a safety net—and paying down debt. You don’t have to write a check or make a deposit. The money doesn’t feel like it’s coming out of your account, because it already did. You feel kind of like you’re cheating the system. Free savings!

Plus, it gives you incentive to use cash—which makes it easier to stick to your budget because you can’t spend more than you earn. You can’t exactly treat yourself to the leftovers when you charge a purchase, right?

Yet somehow a lot of my friends haven’t caught on. I know people who won’t stoop to pick up a quarter. They think it’s not worth their effort. They throw their change into tip jars so they won’t have to deal with it. But why throw money away for convenience? When you get change, don’t put it in the penny jar (unless you’re rich, that is!). Café employees already get a paycheck. Keep your coins and tip yourself.

Then go home, put it in a piggy bank—or a jar, plastic bag, whatever you can find—and cash it in every few months or so (just don’t wait six years like me). Get some free coin wrappers from the bank, package them up and exchange your loot for bills (you can also use CoinStar, the big green change counting machine at the grocery store—but be prepared to fork over an eight percent cut).

Got debts to pay? Now you’ve got the power to start doing it. Want to start a nest egg? You’ve got some money to play with. Of course, the downside to coin hoarding (or any kind of saving at all, for that matter) is that it takes so dang long. Just remind yourself to be patient—you’ll get there eventually. But if you owe so much in debt that any savings seems like chump change—or if you don’t have time to stockpile because you need to pay the mortgage today or risk losing your home—there’s a faster way. Debtstoppers can help. Contact one of our attorneys for a one-on-one debt analysis that won’t cost you a dime. So you can keep the change—and your house.

A new year is only a month away, and resolutions will be flowing like promises from a politician. Resolutions and promises have a way of unraveling, sometimes pretty quickly. I know I always have a problem with my annual resolution to take better care of myself - that lasts for all of a week. But here is a resolution from DebtStoppers to you that we have every intention of keeping: We promise to continue to provide you and the members of the community that we live and work in, with advice, support and legal help that will restructure or even eliminate your debt burdens.

Every month, DebtStoppers holds a free financial workshop for our community members, in Chicago and Atlanta. And it's not like some "other" workshops that are really a tax audit in disguise. We promise that the DebtStoppers workshops are not only informative, but fun, and well worth an evening of your time.

It's also a chance for you to come in and talk - no strings attached - with one of our bankruptcy and debt relief attorneys, about legal options that are available to you. It also gives you the chance to meet neighbors who are in the same tough financial spot as you, and they are probably way more than you would ever have guessed. You may be thinking, "Yeah, misery loves company," but I prefer to say that there is strength in numbers.

We understand that you may have a lot of questions about how best to control your spending, the state of your personal finances, debt and credit related issues or whether or not the "sounds too good to be true" opportunity you just heard about is just that, "too good to be true." You may also have questions about bankruptcy, and need answers to determine whether or not it is right for you. Our workshops provide you with the forum to voice those questions and concerns. At each meeting, we will have a Q and A session - you provide the question and we'll give you the answer. Now, let me be honest, it may or may not be the answer you want to hear. But understand this; it will empower you to make a decision about your own financial future.

If that isn't reason enough to want to come to our financial workshop next month, how about this - a nice meal and the chance to win a Dell laptop computer or a GPS system? We understand that time is money, and we want to offer you the best possible value for your precious time.

You can register for either financial workshop, Chicago on January 15, 2009 or Atlanta on January 22, 2009, online or by phone.

Space for the workshop is limited and on a first come first served basis. Please register early so that you are not shut out from the January workshop. Don't give up if you are, though; there will be another workshop in February, as we promised. If you can't wait that long, you can also contact us at any time for a free personal debt analysis, just give us a call or sign up over the net.

We hope that you will come away from our financial workshops with a couple of things:

1.    A full belly,
2.    Some new friends,
3.    Answers to your questions and alleviation of your concerns, and
4.    The DebtStoppers Debt Relief Toolkit, which contains six or our most popular brochures, including:

*  Is Bankruptcy the Right Tool for Me?

*  Foreclosure

*  How to Build a Budget

*  Saving and Investing 101

*  Beating the Recession

*  Give Yourself a Raise Expanded Edition

But more importantly than those, we hope that you'll come away from our financial workshop with this:

A feeling of hope.