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Common Bankruptcy Myths Debunked in Mankato, MN

Sometimes hard-working and honest people in Mankato, MN find themselves mired in a financial mess and need to seek refuge from their hardships by filing for bankruptcy. If that description fits you, turn to the knowledgeable and compassionate professionals at Behm Law Group, Ltd. We have the expertise and experience to help you get through the bankruptcy process step-by-step.

There are many myths that swirl around bankruptcy and the types of people who file for it. Listed below are four common bankruptcy myths:

  • Bankruptcy doesn’t affect that many people. The number of people who file for bankruptcy protection has decreased since the peak of The Great Recession. From 2008-2010, over 4.1 million U.S. families filed for bankruptcy. These days, the number of families who file hovers around the one million mark annually.
  • Bankruptcy only happens to the poor and uneducated. Sure, among the million or so families filing for bankruptcy protection every year, there are poor and uneducated people. However, it also strikes wealthy and highly educated people. Lawyers, doctors, accountants, business owners, teachers, and many others in highly respected and high-paying professions file for bankruptcy every day.
  • Bankruptcy is the result of irresponsible spending. There are some individuals who try to game the system, carelessly racking up mountains of debt and then filing for bankruptcy. However, the majority of filers are hard-working folks who may have become financially ruined by a job loss, pay decrease, divorce, or a serious illness and the subsequent pile of medical bills that creates. In many cases people rely on their credit cards to buy the necessities – food, gasoline, car repairs, clothing for the kids – and hope that their situations will improve. Sadly, things don’t always turn around, and bankruptcy is the only viable option.
  • Bankruptcy permanently ruins your credit. People who file for bankruptcy are often surprised at how quickly their credit bounces back and how fast they start getting credit card offers in their mailboxes again. To rebuild your credit, think about applying for a secured credit card with a low limit that requires a deposit to a bank. Once approved for the card, make regular, on-time payments, and check your credit report to ensure that everything that was discharged in bankruptcy is, indeed, marked as discharged.

If you or a loved one is facing the difficult decision of whether or not to file for bankruptcy, give us a call today at (507) 387-7200 to learn what your options are. Even if you decide not to file, knowing the available options can bring you tremendous peace of mind.

 

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The Cause of the Gawker Bankruptcy in the St. Peter, Minnesota Area

In the St. Peter, Minnesota area and across the United States, people have access to all kinds of celebrity gossip. Whether it’s your grandma snagging a magazine next to the checkout or your little brother Googling information about the latest famous downfall, we have nearly unlimited access to gossip about the rich and famous.

Recently, however, this access to information has become a bit of an issue for some stars. A celebrity gossip source known as “Gawker” recently filed or bankruptcy as a result of a suit against Hulk Hogan. Here’s all you need to know about the case that led Gawker to file for Chapter 11 bankruptcy:

  • Illicit Publications: Gawker recently published a private video of Hulk Hogan against his wishes. The content of this video was somewhat explicit, making Hogan seek legal action against the celebrity gossip site. Little did Gawker know, this suit would eventually lead to a bankruptcy filing.
  • Private Funding: Hogan was able to pay for this long, arduous lawsuit because Peter Thiel privately funded Hogan’s actions. Thiel is a major player in Silicon Valley, making his funds nearly endless for the purpose of Hogan’s suit.
  • Controversy: In the midst of this suit, there has been controversy amongst journalists. Some have argued that Hogan’s suit violates freedom of press and feel frustrated that Gawker had to file for bankruptcy. Others question Gawker’s news reporting, whether it relates to Hogan or other famous folks.

Expensive lawsuits can lead to bankruptcy in the St. Peter, Minnesota area and in the world of the rich and famous. If you find yourself in expensive legal trouble and you need the assistance of a professional regarding bankruptcy, we’re here to help. Contact the professionals at Behm Law Group Ltd. today!

 

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Summertime Budgets in the New Ulm, Minnesota Area

Summertime is upon us in the New Ulm, MN area, which means folks are ready to get outside and enjoy the glorious sunshine. In the New Ulm area, there are all kinds of exciting activities to enjoy. However, if you’re going through a bankruptcy filing, it can be challenging to keep your budget in check during these three warm, sunny months.

Fortunately, there are all kinds of free or low budget activities to try out in New Ulm, so you can make the most of summer, even while on a budget or going through bankruptcy! Here’s a >list of a few exciting places to visit:

Minnesota Music Hall of Fame: For the low price of three dollars, this museum allows you to experience the musical culture of Minnesota! Featured in the museum are all kinds of well-known artists such as Bob Dylan, The Andrews Sisters, and Prince. What a fun, inexpensive way to spend a rainy summer day!

Museum of Brewing: Although it may seem like a brewery museum might only be geared towards those twenty-one or older, this museum is made for families to enjoy! Admission is free, making the Museum of Brewing a perfect venue for those budgeting or going through bankruptcy. Come see the grounds, enjoy the peacocks, and perhaps indulge in a beer (with or without root!)

Oktoberfest: German culture is important to New Ulm, so it’s only natural that Oktoberfest is widely celebrated! Better yet, admission to the event is free! Come listen to music and participate in traditional German events, without spending too much extra money. While you’re at it, why not pop by the glockenspiel, a forty-five foot tall monument that keeps New Ulm on time year round!

There are so many free or nearly free activities in the New Ulm, MN area, so if you’re concerned about spending too much money or bankruptcy, you can still have a fun and festive summer. For additional questions about your bankruptcy filing, contact the professionals at Behm Law Group, Ltd. today!

 

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Pioneer Life in the Worthington Minnesota Area

Summer in the Worthington, MN area means a lot of exciting things. Perhaps your look forward to swimming or taking long walks outside in the sunshine. Maybe your favorite activities include going out to eat, or splurging on a summer vacation to a warm and sundrenched beach!

Regardless of what you like to do, a summer bankruptcy filing or case can change your plans. Fortunately, Worthington has a number of inexpensive activities available for you to enjoy. One of these events quite literally takes visitors back to a simpler time; a time before bankruptcy, credit card debt, or expensive plane tickets. Nobles County Pioneer Village may just be the summer activity for you and your bankruptcy budget!

Here are a few exciting features of the village:

  • History: Have you been curious about how Worthington became the wonderful city it is today? This county, first occupied by Sisseton Indians, and then white settlers in 1842, has a rich and exciting history that’s waiting to be discovered at the Pioneer Village!
  • Admission Cost: To participate in this exciting attraction, your bankruptcy budget can remain well intact. The Pioneer Village opened after Memorial Day, and admission fees range from free to six dollars per person. What a deal!
  • Attractions: Pioneer Village really can remind you of a time before electronics and modern challenges. From the restored buildings to the horseshoe games scattered around the property, this location boasts fun activities for the whole family in Worthington!

Are you ready to learn more about the rich history of the Worthington, MN area while spending an amount that won’t cause bankruptcy or dent a preexisting bankruptcy budget? The Pioneer Village in Nobles County is the perfect summer activity for you and the whole family!

For modern-day concerns regarding your bankruptcy case or filing, contact the folks at Behm Law Group, Ltd. today!

 

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Will Dire Farm Economy Predictions Result in More Bankruptcies in the Redwood Falls, Minnesota Area?

The U.S. Department of Agriculture is predicting that farmers will produce a record corn crop in 2016. But if Minnesota economic forecasts of dropping commodity prices, a stronger U.S. dollar, and weak global growth create fallout in the Redwood Falls, Minnesota area, Behm Law Group, LLC is ready to help.

Analysts are worried that the combination of healthy supplies, the strength of the U.S. dollar, and slow growth in world-wide demand have kept prices for corn and soybeans low. The result is harming the profits of Minnesota farmers and it could impact other related businesses.

Stephen Behm and the staff at Behm Law Group, LLC are keeping an eye on the latest trends and their impact on the local economy. Behm Law Group has earned a reputation for skill and excellence in the field of bankruptcy law in the Redwood Falls area. They have assisted hundreds of people to make a fresh start financially through Chapter 13, 12, and 7 bankruptcies.

The outlook for 2016 does have some bright spots as well: forecasters credit Minnesota’s large and diverse economic base for helping it absorb the global slowdown. There is a reason for optimism with job gains in education, health care, retail, and finance, as well as a need for tradespeople as homebuilding activity begins to rebound.

If Minnesota’s changing economic fortunes leave you seeking some assistance and you need questions answered, Behm Law Group, LLC offers private and free bankruptcy information. These meetings at the Redwood County courthouse are available to anyone and we expect no commitment should you decide to attend.

Behm Law Group, LLC wants to help you navigate the ever-shifting world economy and get the relief you need through bankruptcy, even if it’s only by having a conversation to help you answer some questions and figure out your options. You don’t have to live with crushing debt and hounding collection calls. Allow us to do what we have confidently and successfully done for hundreds of others: help you with a fresh financial start.

 

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Little Free Summer Activities in the Mankato, Minnesota Area

Summer has officially begun in the Mankato, Minnesota area, which means folks are ready to get outside, work on their suntans, and celebrate three months of sunshine and fun! Although there are a lot of fun activities available during the summer months, it can be challenging to pay for expensive tickets or experiences while on a tight budget or while going through bankruptcy.

Fortunately, there are a lot of free activities available in the Mankato, Minnesota area. There’s one that’s especially exciting that also allows for a little physical activity: the Little Free Libraries scattered around Mankato and surrounding towns. Here’s how to make the most of those little libraries while keeping your bankruptcy budget in check:

Look for Libraries! There is a website available that can help you find all the Little Free Libraries nearest to you. How cool is that? Once you know the locations, sit down with a friend or family member to set your route. The more walking in the sunshine, the better!

Walk it Out! Once you’ve got a plan in mind, grab a book you’re ready to part with and start walking! Take time to enjoy the adventure between little libraries, and to see the neighborhood or town in a whole new way.

Lend or Borrow: Little Free Libraries rely on consistent donations and borrows from folks that pass by. If you see something you like, drop off your old book inside the library and take one that’s new. It’s yours to keep. That is, until you find the next book you want to borrow!

A Little Free Library walk is the perfect free summertime activity to kick off June in the Mankato, Minnesota area. Regardless of your budget or the status of your bankruptcy filing, this free outing will keep you happy and well read. Bankruptcy is not always fun, but that doesn’t mean your summer has to suffer!

For more information about your personal bankruptcy budget or bankruptcy filing, call the professionals at Behm Law Group Ltd. today!

 

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Bankruptcy Turbulence for SkyMall in the Owatonna, Minnesota Area

It’s almost summertime in the Owatonna, Minnesota area, which means folks are preparing to travel and enjoy the sunshine! Though you may be boarding a plane sometime in the next few months, you’ll notice something is glaringly absent. Although you’ll still have access to those individually packaged peanuts, tiny glasses of ginger ale, and in-flight movies, Skymall will be nowhere in sight due to a bankruptcy filing from this past January.

There are a few different reasons why SkyMall succumbed to bankruptcy over the past few years, but here are the major reasons why you’ll be missing SkyMall on your next trip:

Phone Competition: Rather than perusing pages of neck pillows and pet accessories during flights, folks have recently preferred to look through their personal devices. This has decreased the amount of traffic through SkyMall, consequently decreasing their overall sales and taking them one step closer to bankruptcy.

Touch Down and Take Off: Although this had already been a problem during flights, SkyMall still took advantage of that precious time when customers couldn’t use phones during touch down and take off. When flights changed their policy on cell phone usage and folks didn’t have to turn off their phones, SkyMall finally had to file for bankruptcy.

The Cost of Paper: Under increasing pressure to go paperless—for either environmental or cost-based reasons—airlines have recently found it difficult to justify carrying magazines or catalogues.

In the Owatonna, Minnesota area, folks are getting ready to take flight without SkyMall to keep them distracted and entertained. Fortunately, in recent months SkyMall has found a new buyer based out of New Jersey . Perhaps they’ll be back in business, out of bankruptcy, and ready to fly just in time for you to purchase a festive cat hat for Aunt Muriel this fall.

For additional information about bankruptcy filings, contact the professionals at Behm Law Group Ltd. today!

 

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Fun, Fashionable, but filing Bankruptcy in the Marshall Minnesota Area

It’s important to look fashionable and fun in the Marshall, MN area, especially with summer just around the corner. While shops in the area are pulling their shorts and sundresses out of storage, one teen-focused retailer will be pulling out a “Closed” sign instead. Aeropostale filed for bankruptcy earlier this week.

Though Aeropostale may have once been a go-to destination for teen shoppers, it’s recently slipped out of the public eye. After a few years of struggling, they finally filed for Chapter 11 bankruptcy protection. Here’s all the information you need to know:

In total, this New York-centered retailer will close 113 of their 739 stores across the United States and Canada. This process will begin soon, and may have already begun in certain store locations. Stores slated to be closed in Minnesota are located in Blaine, Coon Rapids, and Woodbury.

The market for teen shoppers has changed in recent years. Rather than looking for logos, polos, or high price clothing, teenagers are looking to stores like H&M and Forever 21 for their quick fashion fixes. These types of stores have pushed Aeropostale out of the current youth market and into bankruptcy.

Though Aeropostale stores near you may be closing, they hope to reopen as a “standalone enterprise” after their Chapter 11 filing is complete. This will mean higher efficiency and a lower number of stores.

Aeropostale recently tried a social media revival, which ultimately fell flat. This failed marketing tactic was a sign that bankruptcy may be the best option for this teen clothing retailer.

Although Aeropostale is filing for bankruptcy protection, that doesn’t mean you’ll be without fashionable clothing in the Marshall, MN area. After their bankruptcy filing is complete, this retailer should be up and running once again.

If you have questions regarding bankruptcy or feel you need to file for bankruptcy protection contact the professionals at Behm Law Group, Ltd. today!

 

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Mother’s Day in the Waseca, Minnesota Area

It’s Mother’s Day in the Waseca, Minnesota area, which means folks will be reaching out to thank their mothers, grandmothers, aunts, sisters, friends, and all the other important women in their lives. While it’s important to express our gratitude for these wonderful, hardworking women, it can be tricky to purchase gifts in the midst of financial struggles or a bankruptcy filing.

Rather than spending top dollar on a dozen roses or an expensive box of chocolates, why not try a thoughtful, homemade gift this Mother’s Day? Here are a few ideas to show appreciation without further increasing the need for a bankruptcy filing:

  • Get Creative: Make special cards, coupons, or books for the important women in your life. All you need is a good set of markers and some colorful construction paper, as well as a helping hand from your kids or other family members!
  • Time: Is your mom a bike-riding enthusiast? Does your aunt have a garden that’s the envy of the neighborhood? Take some time to get outside and go for a bike–ride, walk, or other adventure with the wonderful women in your life!
  • Breakfast in Bed: This one is an old classic for a good reason! For families going through bankruptcy or other financial troubles, breakfast in bed can be the perfect way to help Mom relax and enjoy the day. Pancakes and eggs always taste better under the covers!
  • Game Time: Family game night is a great way to spend time together and have some fun. Scrabble, Monopoly, or Apples to Apples are all great ways to relax and laugh while enjoying one another’s company!
  • Bankruptcy can be challenging around the holidays or on special days in the Waseca, Minnesota area. But with a little creativity, you’ll find that there are all kinds of ways to show your appreciation for the women in your life this Mother’s Day.

For questions about your personal bankruptcy filing, or to learn more about bankruptcy processes, contact the professionals at Behm Law Group Ltd. today!

 

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Children and Social Media in the Mankato, Minnesota Area

In the Mankato, Minnesota area, it’s important not to make yourself appear wealthier over social media than you really are. As we discussed last week, 50 Cent got caught making this mistake. Although he claimed not to have enough money to pay his bills, pictures of him throwing around large bills on Instagram and Facebook showed up in bankruptcy court, complicating his filing.

This hasn’t only been a problem for 50 Cent, however, as wealthy parents around the world are learning the hard way. Though parents themselves may not post on social media sites, their children are interested in sharing their Chanel perfumes, expensive yacht vacations, and pricy Bentleys or Corvettes with the Internet world. And creditors are taking notice.

Here are a few quick facts about the strange, new phenomena affecting the hyper wealthy and super rich:

  • Large Impact: Although many folks may not believe social media can have an impact on a bankruptcy case, Facebook or Instagram posts have been recently used in about seventy-five percent of all cases. How’s that for a following?
  • Go–To: Bankruptcy cases are adapting to the world of social media. Online posts are often the first place creditors check for cases of hidden assets.
  • Location, Location, Location: Additionally, social media posts can be tracked, giving away the location and origin of individual posts. That can influence jurisdiction during bankruptcy cases, which means posters must be aware!

Even if you’re up front and honest with all of your assets in the Mankato, Minnesota area, it’s so important to take care of your personality on social media.

Additionally, no matter how much work you do to groom your own page, be sure to have open and honest conversations with those related to you, such as your children or spouse. This will make your bankruptcy case much easier and clearer in the long run!

For additional questions regarding your bankruptcy case, contact the professionals at Behm Law Group today!