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When Legal Matters Become Personal

Chapter 7

Consumer debt continues to grow

A recent Star Tribune article indicates that Minnesotans have an average of $63,000 of debt per capita (which includes mortgages). As a bankruptcy attorney, we definitely saw a lull with all of the moratoriums on student loans, garnishment, foreclosures and evictions,...

What is a reasonable car payment?

Even before recent double digit inflation and doubling of interest rates, we were starting to see seven-year car loans being the norm. For years, a reasonable car payment was $4-500, but now the average is $725. This article posits that there is a 20/4/7 rule, which...