In the U.S., there are several ways that individuals can resolve debts. Debt settlement through a third-party program is often aggressively advertised as the “best” way to work out debts, but that route comes with many caveats, including significant additional fees. Other debt work-out systems include debt management plans through a credit counselor, debt consolidation,
Due to the pandemic, the past year has been difficult for many people. During the first shutdowns in the U.S. for the spring of 2020, the unemployment rate spiked from just above 4% to a staggering 15%. Over the following year, that number slowly decreased to around 6%. While that’s much better than 15%, things
Anyone who has faced difficulties with their finances or finds they have debts they can’t repay understands the stress and complications of that situation. The wish to resolve those issues as quickly and as effectively as possible is a natural reaction to preserve one’s quality of life. There are several options for finding debt relief
There are several ways to find debt relief in the United States, each with varying effectiveness and cost. Debt relief programs may seem like attractive options, but in the long term, they always cost more than filing for bankruptcy, don’t relieve the stress of debt and are far worse for your overall credit profile/rating than
Since the beginning of 2020, the United States has gone through a crisis unknown since the 1918 influenza pandemic spread throughout thousands of communities. The coronavirus not only created a huge public health issue, but it also resulted in many social and economic problems. The economic impact of the COVID-19 pandemic happened for many reasons.
Although the concept of debt has been around since ancient times, the unnecessary social stigma of owing money hasn’t lessened much despite the increase in individuals with debts since the development of the credit card. Those people with debts they can’t repay still face socially imposed stresses that result in shame, guilt, and other negative
One of the most commonly reported causes of debt and the filing of bankruptcy cases is divorce. No matter what a married couple’s financial situation is before a divorce, the legal, emotional, and physical process of ending a marriage wreaks havoc. If you’ve worked through a divorce and find yourself facing serious debt, you are
At Behm Law Group, Ltd., we work with clients experiencing a broad range of financial and personal circumstances. Our attorneys offer legal protection and services for those working through Chapter 7, 12, and 13 bankruptcies. Clients whom we’ve helped regain stable finances with long-term debt relief in Marshall, MN and local communities have a variety
A common misconception about bankruptcy in the United States is that the individuals or businesses that file will lose all their property. While it’s true that property can be at risk in any bankruptcy case, the fact is that the vast majority of individual filers don’t lose a single piece of property in a liquidation,
When you purchase a car and establish a loan, that contract comes with certain requirements. If you miss monthly payments, you’ll likely have to pay late fees and other monetary penalties. When too many payments are missed, your vehicle will likely be in danger of being repossessed. In many cases, individuals whose cars are going
