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New Study Finds High Debt Can Be Hazardous To Your Health

As reported in Phys.org, a new Northwestern Medicine® study, recently published in Social Science and Medicine, has found that high financial debt is associated with higher blood pressure which can put one at increased risk for hypertension and stroke. “We now live in a debt-fueled economy,” said Elizabeth Sweet, lead author of the study. “Since the 1980s American household debt has tripled. It’s important to understand the health consequences associated with debt.” Researchers used data from the National Longitudinal Study of Adolescent Health for 8,400 young adults, ages 24 to 32 years old. The study found that 20 percent of… Read More

MN Passes Law That Stays Foreclosure If Homeowner Is Applying For Modification

Governor Dayton recently signed into law a bill that was passed unanimously by the House and Senate. The new law creates new loss mitigation and “dual tracking” requirements. Dual tracking is the practice under which mortgage lenders simultaneously process an application for a loan modification and proceed with a foreclosure. In the past, homeowners have lost their home to foreclosure while going through the mortgage modification process. Dual tracking is a process that creates a catch 22 for homeowners in need of help with their mortgage terms. The mortgage lenders would explain to homeowners that they would not consider a… Read More

Minnesota Bankruptcy Lawyer Review: “I Know How Fortunate We Were To Have Had Michael’s Expertise & Help.”

As is typical for a young couple, my wife and I went through some financially trying times throughout our 37 years of marriage. Being self-employed in the residential construction industry brought additional challenges. However, we finally reached a comfortable living and were looking forward to slowing down in our later years. When construction and the economy declined to such a low, we began liquidating everything we could to meet our obligations. Struggling harder than at any time in our lives and after several years with little opportunity of work, we lost most all we had. We had reached our lowest… Read More

Filing For Bankruptcy Helped People Get Back On Their Feet After The Great Recession

John from North Carolina shared a story about his uncle, a furniture-store owner, who filed for bankruptcy in order to regain financial stability. The Great Recession resulted in many people across the United States being laid off from their jobs or losing the businesses that they had dedicated their lives to running. In an article featured on USA Bankruptcy Guide, an online resource for people who are considering filing for bankruptcy, John from North Carolina shared a story about his uncle, a furniture store owner, who filed for bankruptcy in order to regain financial stability. After realizing that he couldn't… Read More

Common Questions About Chapter 7 Bankruptcy

Filing for bankruptcy is an important decision, so those considering seeking protection should thoroughly understand how it works. Here are some common questions Minnesota residents have about Chapter 7 bankruptcy. Filing for bankruptcy is an important decision, so those considering seeking protection should thoroughly understand how it works. Here are some common questions Minnesota residents have about Chapter 7 bankruptcy: Am I eligible to file for Chapter 7 bankruptcy? In order to find out, you must take a means test, which calculates the past six months of gross income. If the total is lower than the median income of a… Read More

Woman Who Filed For Bankruptcy Says Debt Relief “Feels Great”

“For anyone looking to file for bankruptcy, this is a good choice,” wrote Rachel. “It helps relieve you of your debt and the heavy burden on your shoulders. If you find yourself in a hole digging deeper into debt, this will get you out of it.” Sometimes when people are young, they make poor monetary choices that lead to financial distress down the road. If this sounds familiar to you, it's important to realize that there are options available that will help relieve you of debt you may have accrued over the years. Rachel from Washington shared her story with… Read More

Cancer Patients More Than Twice As Likely To File For Bankruptcy, Says Study

According to the data, individuals who have cancer are 2.65 times more likely to to file for bankruptcy than those who aren’t faced with this terrible affliction. In recent weeks, we've focused on the the link between medical treatment and bankruptcy, examining research that suggests that people may opt out of potentially life-saving care so as not to add onto the debt they already have. It has been documented that medical treatment is one of the most common reasons that people file for bankruptcy, says Washington-based KUOW Public Radio, but a recent study from the Fred Hutchinson Cancer Research Center… Read More

Filing For Bankruptcy Helped A Missouri Woman Keep Her Home

In an article featured on USA Bankruptcy Guide, a website designed to be a resource for people who are considering filing for bankruptcy, Tammy from Missouri wrote about how she filed for Chapter 7 bankruptcy in February 2005 after realizing that she had fallen into debt and was at risk of losing her house. One of the most common misconceptions about bankruptcy is that individuals who file for it will lose their valuable possessions, including their car, household goods and even their home. However, the truth is that the purpose of bankruptcy is to give people a fresh start, and… Read More

Foreclosure Filings Plunge 23 Percent Year-Over-Year

New research indicates that overall foreclosure activity dropped in April, providing further evidence that the housing market is continuing to recover following the Great Recession. Recently on this blog, we reported that completed foreclosures in the United States had increased 6 percent from February to March. However, new research indicates that overall foreclosure activity dropped in April, providing further evidence that the housing market is continuing to recover following the Great Recession. According to RealtyTrac, a real estate information company and an online marketplace for foreclosed and defaulted properties, the number of foreclosure filings decreased 5 percent from March to… Read More

Bankruptcy can help you regain financial stability if you lose your job

In an article featured on USA Bankruptcy Guide, an online resource for people who are considering filing for bankruptcy, Roy from Florida shared his story about how bankruptcy helped him get back on his feet after he was laid off. Sometimes, no matter how good you are at managing your finances, an unexpected event can occur, leaving you struggling to make ends meet. Over the past several years, many people in the United States have lost their jobs due to the Great Recession. In these cases, it can be difficult to find employment again, and as such, it becomes easy… Read More