There are usually multiple factors that contribute to a resident of Minneapolis or St. Paul, deciding to file for bankruptcy. Credit card debt is one of those factors. The reasons behind each person's credit card debt vary but may include the loss of a job or medical emergencies. While ideally, an individual will have savings set aside to cover several months of living expenses should a financial emergency arise, not everyone is able to accumulate that kind of money before it is needed. In these situations credit cards are often relied upon.
For many individuals residing in Minneapolis and St. Paul, this is a joyful time of year. The weeks between Thanksgiving and New Year's are filled with social gatherings and celebrations that bring many together. During that period of time it is possible that many people will ignore their finances only to be shocked by the bills that arrive in January. Though some individuals will cover those bills without a problem, for others who have been experiencing financial difficulties, it is the thing that financially sends them over the edge. To avoid this situation there are steps that can be taken.
The economy has slowly been getting better since the Great Recession. At this point, home values are increasing and the unemployment rate is not as bleak as it once was. Granted, the unemployment rate is still higher than what it is during a stable economy, but it is still better than it has been in the past four and a half years.
When consumers heard of Hostess Brands bankruptcy filing, many could not believe it. Many were shocked to hear the maker and distributor of such popular products as Twinkie and Ding-Dongs was going out of business.
Having excessive amounts of credit card debt is one of the many reasons Minnesotans decide to file for bankruptcy. In many of these cases it was never really their intention to rack up thousands of dollars worth of debt, but either the debt crept up over time or sprung up due to unexpected expenses and they had nowhere else to turn.
Many Minnesotans have personally felt the squeeze from student loans. For many, there is graduation and the sudden realization that tens of thousands of dollars is owed for that education. Prior to taking out these loans, many did not worry, believing they would just find a great-paying job right out of college. However, after graduation -- for many -- the realization of the current economy and how much entry level positions actually pay starts to set in.
It is officially springtime in Minnesota. That time of year when parents are busy touring colleges with their teenage sons and daughters, trying to figure out what the most realistic school is for their children. For many, while of course getting accepted plays a role, so does the cost of the college.
It's the New Year and with it comes the dreaded anticipation of tax time. Many people put off filing their taxes, but there may be a reason why you shouldn't. If you are thinking about getting a fresh start through Chapter 7 or Chapter 13 bankruptcy it's a requirement for discharge.
A payday loan is supposed to be short term loan that provides quick cash to people with debt problems. They are typically backed by the borrower's next paycheck. Borrowers provide the lenders with either a post-dated check or the routing and account number to a bank account so the loan can be repaid on the next payday.