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New statutes passed to prevent scammers from bankrupting Minnesota seniors

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Personal Bankruptcy on Wednesday, May 22, 2013.

If you've lived in this state for any amount of time you've more than likely heard the term 'Minnesota nice.' But while this term usually refers to our state's exceedingly friendly disposition, it is apparently becoming a targetting tool now for scam artists the world over. And these scammers are getting even more clever in their schemes, targeting our elderly population at an alarming rate.

It's a problem state lawmakers have been keeping their eyes on for quite sometime. And as they wrapped up the 2013 session recently, lawmakers decided to finally do something about these scammers and their propensity to force Minnesota seniors into bankruptcy.

What happens if Minnesota's first copper-nickel mine goes under?

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Chapter 7 on Thursday, May 16, 2013.

Residents in northern have long-awaited the environmental report that would dictate whether PolyMet could be the first company to operate a copper-nickel mine in the state. Scheduled to be an open-pit mine, concerns over the mines environmental impact during operation were the main concerns on activists minds. Now, the fear of bankruptcy and its environmental cost could be what prevent the project from getting off the ground.

Environmental groups have long expressed their concerns about copper-nickel mining in the state, mostly focusing their efforts on sounding the alarm about the harm this type of mining can have on ground water and surrounding soil. But the new issue is concerning whether there is a plan in place if there ever comes a time when Polymet closes abruptly or files for bankruptcy.

Archiver's files for Chapter 11 bankruptcy protection

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Debt Relief on Wednesday, May 8, 2013.

In 1999, Twin Cities entrepreneur Bruce Thomson cashed in on the popularity of scrapbooking and opened the Golden Valley-based chains known as Archiver's. The company was an immediate success and appeared to be on the up and up. But a tough economy and a shift towards digital media began to cut into the company's profits, forcing them further and further into debt.

Now, just weeks after the St. Cloud-based scrapbooking company Creative Memories filed for bankruptcy, CEO Jann Olsten announced that Archiver's was going to be following suit and has since filed for Chapter 11 protection for debt relief.

Recent class actions could change medical debt collections

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Personal Bankruptcy on Friday, May 3, 2013.

Minnesotans are familiar with the fact that medical costs are rising at a staggering rate. Even if you have medical insurance coverage, it often times does not cover all of the medical costs associated with a trip to the hospital. As a result, people around the state, as well as across the country, are falling into personal debt because of their medical bills. While most debt collection involves the healthcare facility itself, some people are finding that their debt is being sold to debt collectors who may not be as friendly when trying to collect what is owed.

But with recent class action lawsuits highlighting violations of the Fair Debt Collection Practices Act by some debt collectors, outcomes in these cases could make a huge difference for people suffering from crippling personal debt and how debt collectors are allowed to handle medical debt collection in the future.

As if bankruptcy and foreclosure weren't bad enough...

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Personal Bankruptcy on Wednesday, April 24, 2013.

When the housing market bubble burst a few years ago, homeowners across the United States, including here in Minnesota, watched as the resale value of their home dropped. Coupled with a relentless recession that cost millions of Americans their jobs, banks across the nation began foreclosing on thousands of homes.

But as if bankruptcy and foreclosure weren't bad enough, millions of homeowners learned that some of the nation's largest banks had wrongfully evicted people from their homes, which eventually led to a federal investigation. It took more than two years before the investigation into the foreclosure abuse was completed, after which homeowners were finally able to recoup their losses in the form of a class-action lawsuit.

FBI investigations force The Scooter Store to file Chapter 11

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Chapter 11 Bankruptcy on Wednesday, April 17, 2013.

Nearly everyone in the state of Minnesota is familiar with the current scooter ads on television. Companies such as Hoveround and The Scooter Store have become common household names, offering motorized mobility to people at little to no cost.

But these two companies have received increased scrutiny from legislators who feel that the ads are pandering to people who may not need the devices, which is forcing Medicare to pay millions of dollars every year to these companies. As a result, the Federal Bureau of Investigation has issued several raids on these companies, including one raid in February on The Scooter Store. In a release made by The Scooter Store this month, they explain that it is because of these raids that they have been forced to file a petition for Chapter 11 bankruptcy.

Despite increased need for healthcare, more doctors filing for bankruptcy

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Chapter 11 Bankruptcy on Wednesday, April 10, 2013.

When we think about the current state of healthcare in the United States, we think of it being particularly healthy. No pun intended. But depending on who you ask, this may not necessarily be the case in every state. And despite the increasing need for healthcare over the past few years, many solo practitioners, who were hit hard by the recession, are now finding it hard to pay off all of their debt.

According to the co-chair of the American Bankruptcy Institute's healthcare committee, Chapter 11 bankruptcy filings among physician practices have spiked recently, leading some business experts to question how stable the healthcare industry really is.

Dionne Warwick tries to 'walk on by' her debt with Chapter 7 relief

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Chapter 7 Bankruptcy on Wednesday, April 3, 2013.

Most people in the state of Minnesota have a very distinct impression of celebrities and professional musicians. For the most part, we idolize them for their talent but secretly are jealous of their enormous wealth. While many families still struggle to find their feet after the recession, famous people can rest easy knowing that they have a cushion of assets to fall back on.

Or at least that's what we'd like to think.

Transferring debt to a credit card may be a worse deal than it sounds

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Personal Bankruptcy on Tuesday, March 26, 2013.

Even though the nation is pressing forward from the recession, many Americans, including those here in Minnesota, are still feeling the stresses of a recession that went on far longer than expected. This has meant trying to save a buck wherever possible in an attempt to lower the debt that was accrued over the past few years.

Taking advantage of people trying to avoid paying through the nose with interest premiums, many credit card companies are now offering debt-balance transfer which allows card holders to transfer other forms of debt such as a car loan to a credit card. But despite the allure of nearly a year free of interest payments, some financial experts warn against giving into the glitz and glam these cards offer.

Aggressive marketing from colleges putting students in considerable debt

On behalf of Huffman, Usem, Crawford & Greenberg, P.A. posted in Debt Relief on Tuesday, March 19, 2013.

For most people across the state of Minnesota, when it came time for graduation from high school, there was likely the considerable pressure to go to one of the top colleges in the nation. But while tuition costs steadily rose over the last few decades, many people wonder now at what point will the cost outweigh the degree?

It's something that the one attorney general has been thinking about for quite some time. For years now he has watched as many big-name schools have used federal funding towards aggressive marketing campaigns in an effort to get more students to come to their schools. But instead of getting an education, many students are simply left with tens of thousands of dollars in debt. Sometimes, students drop out because of the high cost of tuition, never actually reaching the end and getting their degree.

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