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For the last year, thanks to the hard work of all of our staff, and you, our clients, no one who works at this office has gotten Covid while working here, and we have not spread a single case to any of our clients, while getting all of our client's legal needs taken care of. With the spread of vaccination the end is in sight, normal times where we can meet our clients in person in the office are just around the corner.

During the transition we will be having some in person, in office appointments for clients who have already been vaccinated, and for whom the CDC recommended period of time has passed since their last shot. Of course, for anyone who would prefer a phone or video appointment for safety, convenience, or any other reason those types of appointments are always available.

The weather is warming up and outdoor-in person appointments are now available. The updated CDC guidelines indicate that masks are not needed for vaccinated people outside if not in close quarters; although as a precaution we will continue to practice social distancing. If you have not had your vaccination, masks will continue to be a requirement.

Through the transition safety of all staff and clients will continue to be our top priority, we look forward to seeing you soon.

Please see our blog for more info on pandemic response.

How debt impacts the youngest generation

| Mar 6, 2019 | Bankruptcy

Americans under the age of 30 owe about $1.05 trillion in overall debt, and they owe a variety of lenders such as credit card and mortgage companies. However, the biggest concern is the amount of student loan balances that young Americans carry. There are roughly 44 million Americans who owe a combined total of $1.5 trillion in such debt. For those under 30, it can delay their plans to get married or buy a home.

Overall, student loan balances are second only to mortgages, which means that Americans are paying more to student loan companies than credit card or auto lenders. Currently, 11.4 percent of student loan accounts are delinquent. That means that payments have not been made in 90 days, and that can be a sign of overall economic health. It is thought that 40 percent of student loan borrowers will be in default by 2023.

There are some things that individuals who are struggling with debt can do to help themselves. First, they could seek additional income to make it easier to pay down debt balances or keep up with monthly payments. It may also be worthwhile to look into ways to consolidate or refinance current debt balances. A higher credit score could also be a tactic used to obtain access to loans at lower interest rates.

Individuals who cannot pay their bills each month may be a candidate for bankruptcy. In a bankruptcy proceeding, debts may be reorganized or discharged in full. In a Chapter 13 proceeding, an individual makes payments to creditors over a period of three or five years. While a bankruptcy case is open, creditors generally cannot contact debtors or make efforts to repossess property. Doing so may be in violation of the automatic stay granted when a case is filed.

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