Part One of this blog covers the general history of bankruptcy laws from 1542 to 1776 in Europe and during the founding of the United States. The largest shift in the bankruptcy code occurred when Americans rewrote bankruptcy laws between 1776 and the 1800s. Before this American shift in the bankruptcy code, debtors were treated
During this unsure economic time, many of us look to the past to see how we reacted, what worked, and what didn’t. Since the first Great Depression in the U.S., there have been many ups and downs in the economy. One notable “down” was the 2008 financial crisis. The unexpected depression during that time
If you have filed for bankruptcy before in Mankato, MN, or are working through a case now with the help of Behm Law Group Ltd., you know there are many intricacies of the bankruptcy code. Bankruptcy laws weren’t always so complex nor with fairness to all parties involved. Since the first semblances of the bankruptcy
If you’re struggling with financial hardship, you are not alone. Today, over 38 million people in America live at or below the poverty line. While finances should never be paired with human decency, unfortunately for hundreds of years, they have gone hand in hand with social comment. In years past, millions of people living in
After a long spring of dark news and constant worry as we shelter in place, the severity of the COVID-19 pandemic is beginning to show signs of lifting. However, while states are relaxing aspects of the coronavirus lock down, many of us are still coping with work, communication, and other parts of our lives remotely.
Since the beginning of 2020, and for the foreseeable future, everyone in the United States and across the world is dealing with some serious difficulties in the face of COVID-19. One of the most prominent issues many in the United States are struggling with is a lack of income due to shelter-in-place orders and nonessential
If you’re struggling with a low income and looming debts, it may be time to start thinking about taking positive actions for relief that keeps your finances stabilized in the long term. One of the most effective resources available to you for debt relief is bankruptcy. Specifically, if you’re facing a severe imbalance between debt
In the United States today, bankruptcy law has many rules that serve to prevent fraudulent cases. Despite these rules, there are times when trustees catch mistakes or intentional abuse, which results in a case being dismissed, the denial of debt relief or the filing of criminal charges. With the exception of a filer intentionally committing
The continued COVID-19 crisis is still showing the impact it’s having on the global economy. More and more large companies, local businesses, and nonprofit organizations will struggle to make ends meet, and those that cannot may find debt relief in bankruptcy. With the cases of Neiman Marcus and J.Crew, we’re seeing the first of many
In times of financial difficulty there are many options for individual consumers to find relief from the hardship of debt. One of the most effective methods of debt relief is the process of bankruptcy. Filing for bankruptcy provides a government organized relief system that offers long-term results. The most common types of debt, such as
