Filing for bankruptcy is a major financial decision that can offer relief from overwhelming debt but also has significant legal implications. One common question is whether it’s possible to file for bankruptcy without a lawyer, especially for those who may have difficulty affording legal representation. The short answer is yes, you can file for bankruptcy […]
Category Archives: Bankruptcy
Bankruptcy is a legal process designed to help individuals and businesses eliminate or repay their debts under the protection of the bankruptcy court. Understanding how to declare bankruptcy and which type suits your situation can be critical in managing overwhelming debt. While bankruptcy can be a stressful process, it’s important to remember that bankruptcy is […]
$1.57 trillion. This is the total amount of money 42.9 million Americans owe in student loan debt, and the total is not getting any smaller. In fact, student loan debt in the United States is growing at a rate six times faster than national gross domestic product (GDP). This enormous financial burden on so many […]
On Tuesday, November 30, 2021, the Consumer Financial Protection Bureau approved a new set of rules that alters how debt collectors contact you. Debt collectors are now allowed to contact you on Facebook, Twitter, Instagram, or any other form of social media. They are also able to “friend” or “follow” you on any social media […]
Minnesota Restaurant Industry given the OK to open, but many restrictions are still in place to help fight the spread of Covid-19. The restaurant industry has not looked the same since COVID-19 caused a nationwide lockdown in March 2020. Since then, Minnesota restaurants had been given the green light to re-open for dining, then back […]
How Americans are Safeguarding Their Finances During an Economic Downturn In the middle of a year characterized by uncertainty, Americans are finding stability through reducing their credit card debt. Economists expected the rising unemployment rates and recession to be met with increased debt. However, reduced spending and government supplementation flipped the expected outcome. The Numbers […]
What property can I keep when I file for a Chapter 13 Bankruptcy? How are my house, car, cell phone, and money handled in Chapter 13? Chapter 13 bankruptcy allows you to protect most of your assets, including your home and car. This bankruptcy filing lets you pursue financial relief while protecting your way of […]
Pandemic-related closures may have forever changed the restaurant industry. Many bars and restaurants are beginning to open their doors once again. The mandated closures of the last few months are now slowly being lifted, as long as safety guidelines are met. Though in most states restaurants can re-open, some restaurants are financially unable to.
Should I Open a New Bank Account Prior to Filing Bankruptcy? Prior to filing bankruptcy, a common concern is whether you can keep your bank account open during the process. The answer in most cases is yes. However, if you owe your current bank money, it is generally a good idea to switch to another […]