Has your business fallen on hard times? Have you taken out a variable-rate loan to help you through? While a variable-rate loan may seem like a viable solution, it’s important to understand that you’re at the mercy of changing interest rates. And as any Michigan bankruptcy attorney will tell you, an increase in interest rates […]

If you own a business, you’re likely bombarded with offers for merchant cash advances (MCAs). They’re largely easy to ignore, unless you’re having business cash flow issues. Then they might seem very appealing. After all, you get fast approval and funding, there’s minimal credit requirement, and no collateral is needed to secure short-term business funding. […]

Did you know that roughly 23 million in the United States owe over $250 in healthcare costs? To add salt to the wound, at the time of publication of this post, the elimination of health insurance subsidies of the Affordable Care Act (ACA) has sent health insurance premium costs rocketing. And while ACA insurers are […]

Are you a Michigan resident feeling an overwhelming amount of financial strain? If so, you’re not alone. Michigan recorded its highest level of bankruptcies in 2025 since the COVID pandemic. Michigan had 16,373 bankruptcies in 2025, which was 89 more than in 2024. And only 243 less than in 2020, when the state was under […]

Did you know that foreclosures are up in 2025 as compared to 2024? There was a 12% increase in completed foreclosures for the first half of 2025 compared to the same period in 2024. September 2025 saw a 20% year-over-year jump in completed foreclosures, while October 2025 saw a 32% jump. There is distress in […]

Consulting firm Challenger, Gray & Christmas reported that employers announced 153,074 job cuts in October of 2025. That’s a 175% rise from the 55,597 cuts announced just a year ago in October of 2024. The industries experiencing the most cuts were tech, retail, warehousing, and the service sector. This doesn’t mean that others haven’t been […]

If you’re a small business owner in Detroit or elsewhere in Michigan, then you know you have more obstacles to clear than larger companies in remaining solvent. And with the economy being especially unpredictable right now, there’s an increase in small business owners facing bankruptcy. This is when small business owners in Detroit and throughout […]

Finding success as a small business owner in today’s big-box store and corporate climate is more difficult than ever. Many small business owners are facing the potential of crushing loan debt and credit card debt, attempting to survive the current volatile market conditions, supply chains, and other challenges. If this seems achingly familiar to you, […]

The idea that bankruptcy is just for low-income consumers is a misconception. In fact, according to a recent article that references the credit scoring company VantageScore, American consumers with prime and even super-prime credit scores are starting to miss debt repayments and facing some financial challenges. That means that those who have high credit scores […]

The impact on U.S. consumers with overwhelming debt from credit cards, student loans, personal loans, auto loans, and mortgages right now is crushing. These consumers are in, or are entering, a personal debt crisis.  If you are one of the many who are experiencing this, you may not know that bankruptcy is a very viable […]