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When Legal Matters Become Personal
Divorce is a process that can result in significant financial implications. This is because it isn’t just a separation of two individuals but also their assets, debts and financial responsibilities. The financial toll of divorce can be substantial, often leading to...
Most large health institutions simply take it on the chin when you don't pay. They realize that if they stopped seeing their patients, then their patients will simply go to their competitors. While there is neither a law, nor an ethical rule, requiring that they...
Bankruptcy does temporarily result in a drop in someone’s credit score and a mark on their credit report. Of course, having a single, major negative mark on a credit report can actually do less harm than having multiple judgments and past-due accounts visible to...
The Department of Justice recently adjusted the median income figures, which are effective in bankruptcy cases filed after May 15. 2023. The median income is an important figure, as debtors below that figure are almost always assured a chapter 7 discharge. For chapter...
When you file for bankruptcy, a trustee will be appointed to oversee and manage your case. Their primary role is to ensure that the bankruptcy process runs smoothly and that both you and your creditors are treated fairly. The trustee's responsibilities cover a wide...
Payday loans often become a desperate consumer’s final lifeline to get by. But interest rates can actually exceed 100% per annum. A recent article discusses pending legislation in Minnesota to cap interest rates at “only” 36%. My experience is that payday lenders are...
A recent article noted that consumer credit card debt has spiked in the last two years, going from near all time lows to all time highs. Most people believe that this is due to the end of the pandemic stimulus payments, combined with inflationary pressures that have...
In a unanimous decision, the United States Supreme Court recently determined that the fraud exception from getting a discharge in bankruptcy, applies equally when the fraud was incurred by a debtor's former partner, and not the debtor itself. Debts that are...
A recent article indicated that there has been an 18% decrease in the amount of medical debts that are being reported on credit bureaus. This is due in part to new policies whereby medical debts under $500 are no longer being reported to the credit bureaus, nor are...
Many people qualify for bankruptcy, but not every request for a discharge is approved and not everyone can utilize the same type of bankruptcy filing. Individuals who are seeking Chapter 7 relief, for example, are subjected to a means test. Only if they pass this test...