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More Americans Turning to Bankruptcy as Financial Pressures Mount Recent data from Epiq AACER—an organization that tracks U.S. bankruptcy filings using federal court records—shows a clear uptick in both consumer and business bankruptcies, signaling growing financial...
Recent data shows that more Americans are struggling to keep up with their debts—and they’re increasingly turning to online searches for help. In fact, Google searches for “bankruptcy lawyer” in the United States have reached their highest level on record, surpassing...
Financial stress doesn’t show up overnight—it builds slowly, often hiding behind life events none of us can plan for. A job loss, medical emergency, divorce, or sudden drop in income can turn manageable bills into overwhelming debt in a matter of months. Many people...
A recent Star Tribune article indicates that Americans put on an average of $1200 of new debt during the holiday season, and offered suggestions on getting out of debt, including the so-called “snowball” or “avalanche” approach. I recently had a client whose parents...
The easy way to qualify financially for chapter 7 bankruptcy (i.e. without doing the means test) is by being under the median income. Other than a household of 3, all figures decreased slightly. The census bureau has determined that the median income for these...
I am honored to announce that I have been asked to join a distinguished panel of attorneys to discuss issues that arise when bankruptcy and divorce collide. (ChatGPT came up with the clever title “Untangling the Knot".) BankruptcyInstituteBrochure
After years of lobbying, the legislature finally updated Minnesota’s state exemptions, with an effective date of Aug 1 for most provisions. The full text of the bill can be found at this link (refer to lines 134-142). MN exemptions are useful outside of bankruptcy,...
The easy way to qualify financially for chapter 7 bankruptcy (i.e. without doing the means test) is by being under the median income. The census bureau has determined that the median income for these household sizes has changed as follows: One person household: (from...
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,...
Don't let the headline alarm you! We do mostly consumer bankruptcies, usually on a flat fee, and even though I put many hours into each case, most of our cases are less than $2500 fee for everything. This article indicates that in some major Chapter 11 cases, such as...