Credit Card Debt Increases After Covid Restrictions Lifted
The impact of Covid-19 on the personal lives and economies of people and countries around the world has been massive. Credit card debt increases have been seen after restrictions were lifted. The restrictions on travel and interactions because of the pandemic wreaked havoc on the world’s economy, leaving individuals and businesses struggling. Though there was […]
Bankruptcy on the Rise Say Minnesota Bankruptcy Attorneys
Minnesota bankruptcy attorneys, William Kain and Margaret Henehan, are seeing a notable increase in the number of bankruptcy cases in Minnesota. Our personal findings that bankruptcy is on the rise, is reflected across the nation as the end to pandemic aid has left individuals and businesses struggling. According to a CBS News Money Watch article, […]
Can I Keep My Vehicles if I File for Bankruptcy?
If you are in Minnesota and are contemplating filing for bankruptcy, one of the significant concerns you may have is whether you can keep your vehicles. In America, our cars and trucks are vital to our lives and livelihood, so the idea of losing your means of transportation is understandably concerning. Answer the question “Can […]
What Does Discharge a Debt Mean?
When your financial situation becomes unmanageable because of overwhelming debt, bankruptcy may be an option to consider. A part of the bankruptcy process is the discharge of a debt, which means the debt is no longer required to be paid off. But what exactly does the discharge of debt mean? Let’s take a closer look […]
Three Common Types of Debt
Debt is a common issue that many people face in their daily lives. However, not all debt is created equal. Three of the most common types of debt are medical debt, credit card debt, and mortgage debt. Understanding these common types of debt and how they may impact your financial standing is crucial to make […]
Basics of Budgeting
Budgeting is an essential part of personal finance. Being able to track and manage your expenses is key to financial success. A budget helps you identify where you are wasting money and plan for future expenses. Budgeting also allows you to create a roadmap for reaching your financial goals. It can be a daunting task, […]
Does Bankruptcy Help with Medical Debt?
Medical debt is one of the leading causes for bankruptcy right after loss of income. It is a debt that all too often accumulates due to a major emergency injury or a unexpected catastrophic illness. With the rising costs of medical care, inadequate health insurance, and insufficient personal income, it is no shock that individuals […]
Debt Collectors Illegal Tactics
Debt collectors have long been known for their aggressive tactics when it comes to collecting payments from debtors. In recent years, debt collectors have been accused of using illegal methods to collect money from those in debt. These tactics can range from making threats of legal action to using false or misleading information. Unfortunately, these […]
Student Loan Debt and Bankruptcy
Getting rid of student loan debt is an issue that affects thousands of Americans. Bankruptcy is often a top choice for a fresh financial start, but borrowers are not automatically entitled to a discharge of their student loans. Depending on your situation, you may need to file a forbearance request or negotiate a more reasonable […]
Will Bankruptcy Affect Taxes?
One common question people have during the bankruptcy process is if bankruptcy affects taxes. They wonder how filing for bankruptcy protection will impact their tax burden. While every person’s tax situation is different, there are some commonalities worth noting about taxes and bankruptcy. Here are some things that you should know: Bankruptcy and Back Taxes […]