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Coronavirus Impact and Assurance: Yes! We are still open for business!

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.

Can I have good credit again after bankruptcy?

| Sep 7, 2020 | Bankruptcy

Whether you have recently completed a bankruptcy or are currently contemplating filing for bankruptcy protection, you may wonder what your financial future looks like after this experience.

While significant debt leads a person to a situation where they must seek help via a Chapter 7 or a Chapter 13 bankruptcy, they should know that rebuilding their credit and enjoying a positive financial life after a bankruptcy can happen.

Starting out after a bankruptcy

When fresh out of a bankruptcy, you may see an immediate jump in your credit score. As explained by Credit Karma, this reflects the fact that your debt-to-income ratio has improved as you are no longer saddled with the excessive debt that put you into a bankruptcy in the first place. At this stage, you may want to find ways to keep improving your score.

Obtaining even one new credit account may help a post-bankruptcy consumer. It may be wise and even necessary for this to be a secured form of credit, like a vehicle loan or a secured credit card. The goal with this account should be to show creditors that you have learned how to have, use and manage credit responsibly. This means you should make all payments on time. If you have a secured credit card, paying it off in full every month may benefit your credit score.

Co-signers may help

You may request a family member to co-sign on a new credit account. This may open up more credit opportunities for you than applying on your own.

This information is not intended to provide legal advice but is instead meant to help residents in Minnesota feel confident that they can have a bright financial future with a healthy credit score after previously filing for bankruptcy.

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