Lots of information out there about the new CARES Act and what it purports to do. It’s a huge document and has a lot of moving parts. In an attempt to pull out useful information for the average consumer and small business owner, we are working on a series of blog posts to help answer some questions.  One of the most interesting sections discusses a new loan program for small businesses that has an element…

Lots of information out there about the new CARES Act and what it purports to do. It’s a huge document and has a lot of moving parts. In an attempt to pull out useful information for the average consumer and small business owner, we are working on a series of blog posts to help answer some questions.  The CARES Act has some specific protections for debtors in Chapter 13. For background, a Chapter 13 bankruptcy…

Lots of information out there about the new CARES Act and what it purports to do. It’s a huge document and has a lot of moving parts. In an attempt to pull out useful information for the average consumer and small business owner, we are working on a series of blog posts to help answer some questions.  Student loans are discussed in § 3513 of the bill and there is some relief available, provided your…

In a successful relationship, honest and open communications with a partner are critical foundations for long-term happiness. The same principles also apply when managing personal finances. Disagreements over spending and money management can lead to breakdowns in marital relationships, an increase in mutual distrust, arguments over money, and potentially divorce. In a recent survey from last year, 11% of respondents admitted they would leave their spouse over financial issues if they believed they were bad with money.1 Another study suggested that couples who argue weekly…

It is increasingly difficult to stay on top of all of the scams out there when it comes to debt, credit, and financial issues. However, this one really struck a nerve recently when a client received this notice after filing for bankruptcy: This looks pretty official, right? If you got this in the mail after filing your bankruptcy, you would probably be concerned that there is something wrong with your case, after all it says…

I often talk about people I meet who have various illnesses and health problems because of the debt and financial stress they are facing. The reason I talk about it is because people often feel isolated and alone, so they hesitate to get advice or find out their options because others will think less of them. Some of the things I see on a regular basis are depression, insomnia, stomach issues, headaches, and anxiety. I…

138% Interest?! Once again, this week’s blog post is related to things we are seeing in the news and with clients. In the news, Bloomberg published an article this morning titled, “America’s Middle Class is Addicted to a New Kind of Credit.” In our office, we saw a disclosure on a loan agreement that consisted of 138.44% interest that the borrower would pay on a loan, which is crazy. Let’s break it down…