The Minnesota legislature recently passed a law to make the first $25,000 that a person has in a Health Savings Account or HSA exempt from bankruptcy and exempt from judgment creditors or debt collectors who are trying to collect. This bill is called HF 2391 and was introduced by Senator Roger Chamberlain of District 38 to… Read more »
New Year, New You?
Now you’ve recovered form the festive period, then perhaps you’ve already decided what you’re going to focus on this year, and have decided what New Year, New You means for you this year. What are your goals? Maybe New Year, New You means that you’re going to: Get your finances in order, or see how… Read more »
Car Money Saving Tips
Here’s our car money saving tips on how you can save money and still get where you need to go. Your car might be the second biggest monthly expense after your rent / mortgage. Is it really worth it? Here’s what we think you should consider. 121. Choose a smaller car Smaller cars will often cost… Read more »
A warning to people thinking about debt settlement companies
The Consumer Financial Protection Bureau recently brought a case against Freedom Debt Relief alleging that Freedom Debt Relief wasn’t telling its customers everything about how settlement works, and that it wasn’t handling their debts like it advertised. As a bankruptcy practitioner, I meet with lots of people who have tried debt consolidation using debt settlement companies… Read more »
Going To Work Money Saving Tips
Could you really sae money going to work, as well as when you’re there? Here’s what we think. 111. Could you commute with a colleague, friend or neighbour? Commuting with a colleague, friend or neighbour can brighten up your journey. Also, if you both currently drive to work, you can alternate who drives, saving you… Read more »
Toys R Us Files Chapter 11 Bankruptcy
Following on from the news that Toys R Us filed Chapter 11 Bankruptcy in September, we thought we’d explain more about why a company would file for Chapter 11 Bankruptcy, and how it compares a person filing for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Business bankruptcies and personal bankruptcies have two basic similarities: 1. … Read more »
Time of Day Money Saving Tips
Thinking about the time of day you do things can help you save money too. Here’s what we think you should think about. 101. Get up on time Probably the most unpopular suggestion, but getting up on time can actually save you money. Sounds a bit strange doesn’t it, but by getting up on time… Read more »
Your rights as a Minnesotan in the Equifax data breach
WHAT HAPPENED? You have probably heard that Equifax, one of the 3 big nationwide credit reporting companies, recently had a huge data breach. Some 143 million Americans have had their information compromised. Considering that there were 323.1 million Americans in 2016, and that lots of Americans, like children, don’t have credit reports, this is probably… Read more »
Reducing the cost of what you don’t use Money Saving Tips
We talked previously about reducing the cost of what you use. What about reducing the cost of what you don’t use? 91. TV How much do you spend on your TV each month? How much TV do you really watch (not Netflix, Amazon Prime or other streaming services)? Could your TV bill be cheaper? Do you… Read more »
Mortgage company changes mind over unjustified attorney’s fees
We recently filed a Chapter 7 Bankruptcy for someone who continued to pay their mortgage throughout the 3 months of their Chapter 7. We knew that the mortgage company was in no danger of taking a loss, as all payments were current, and the mortgage company did not have to do any extra work because… Read more »
