Hoglund Law Blog

Consumer spending over the last three quarters of 2011 has shown a reversion to credit card use over debit card.  Silvio Tavares, senior vice president at First Data, which processes card transactions for 4.1 million merchants, notes that “Consumers have spent the last couple of years de-leveraging and reducing credit card use, but the past [...]

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While the once large auto business network owner Denny Hecker serves out his 10-year sentence in the Duluth Federal Prison Camp, bankruptcy trustee Randy Seaver is on the search for hidden assets.  Randy Seaver, assigned trustee in handling the bankruptcy estate of Denny Hecker, believes that there are hidden assets and the persons may have [...]

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In March of 2010, President Obama signed into law the Affordable Care Act.  The Affordable Care Act is the highly controversial health care reform law. This Act is said to be one of the signature accomplishments of the President.  Since the Act was signed into law, 26 states have filed suit in federal courts around [...]

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In a two decade long study, 177,184 women between the ages of 42 and 67 were followed as part of the Nurse’s Health Study.  One of the remarkable findings of the study was the increased likelihood of developing type-2 diabetes as the result of periodic night shift work.  Nurses who worked periodic night shifts for [...]

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The U.S. Postal Service has been struggling financially. Patrick R. Donahoe, the postmaster general, has stated that if Congress does not take action the agency will not be able to make a $5.5 billion payment this month and may be forced to shut down this winter. Recently, the Postal Service has proposed cuts to eliminate [...]

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According to data from Credit Karma, the average credit score in the United States is 666. The current trend for lenders is that a credit score of 660 is needed to obtain a mortgage, car loan, or credit card. Approximately 40% of Americans have a credit score lower than 660. This means four out of [...]

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Will Social Security Checks Be Paid If Debt Ceiling Is Not Raised Around 28 million Americans are expecting to receive their Social Security checks on August 3, and 27 million are expecting their checks later in August. However, if Congress does not reach a deal to raise the national debt ceiling by the deadline of [...]

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Robert Sylvester Kelly, better known as R & B singer R. Kelly, is facing foreclosure on his home in Olympia Fields, Illinois. J.P. Morgan Chase Bank filed the $2.9 million foreclosure suit against R. Kelly last month. It appears that R. Kelly has not lived in the home since early last year. Kelly has not [...]

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According to new research, popular food chains Denny’s, Wendy’s and Domino’s may be in danger of going bankrupt. TheStreet.com ranked restaurants’ chances of going bankrupt by their Altman Z-Score. The score is based on financial information from each company, and predicts the likelihood of bankruptcy within two years. TheStreet has been using their scoring system [...]

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Narayana Kocherlakota, president of the Federal Reserve Bank in Minneapolis, recently suggested a change in the U.S. tax system to discourage debt growth. High consumer and bank debt lowers the stability of the economy. This makes economic trouble, like what occurred in 2007 through 2009, more likely. Currently, the tax code encourages debt by allowing [...]

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