diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4336d8ffd..12fbc6cb7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,8 @@
+# v5.0.8
+
+### Bug Fixes
+* Hot Fix NullPointer error related to missing folder and GUI-wide settings file #1003 #1004
+
 # v5.0.7
 
 ### Improvements
diff --git a/OpenBCI_GUI/GuiSettings.pde b/OpenBCI_GUI/GuiSettings.pde
index 8215c34d6..00f79a4f8 100644
--- a/OpenBCI_GUI/GuiSettings.pde
+++ b/OpenBCI_GUI/GuiSettings.pde
@@ -86,6 +86,21 @@ class GuiSettings {
 
     public boolean saveToFile() {
         String json = getJson();
+
+        try {
+            final File file = new File(filename);
+            final File parent_directory = file.getParentFile();
+
+            if (null != parent_directory)
+            {
+                parent_directory.mkdirs();
+            }
+        } catch (Exception e) {
+            e.printStackTrace();
+            outputWarn("OpenBCI_GUI::Settings: Error creating /Documents/OpenBCI_GUI/Settings/ folder. Please make an issue on GitHub.");
+            return false;
+        }
+ 
         try {
             FileWriter writer = new FileWriter(filename);
             writer.write(json);
diff --git a/OpenBCI_GUI/Info.plist.tmpl b/OpenBCI_GUI/Info.plist.tmpl
index 936cc6a2d..1d4735c2e 100644
--- a/OpenBCI_GUI/Info.plist.tmpl
+++ b/OpenBCI_GUI/Info.plist.tmpl
@@ -23,7 +23,7 @@
         <key>CFBundleShortVersionString</key>
         <string>5</string>
         <key>CFBundleVersion</key>
-        <string>5.0.7</string>
+        <string>5.0.8</string>
         <key>CFBundleSignature</key>
         <string>????</string>
         <key>NSHumanReadableCopyright</key>
diff --git a/OpenBCI_GUI/OpenBCI_GUI.pde b/OpenBCI_GUI/OpenBCI_GUI.pde
index 662590055..8c9436cf8 100644
--- a/OpenBCI_GUI/OpenBCI_GUI.pde
+++ b/OpenBCI_GUI/OpenBCI_GUI.pde
@@ -60,7 +60,7 @@ import http.requests.*;
 //                       Global Variables & Instances
 //------------------------------------------------------------------------
 //Used to check GUI version in TopNav.pde and displayed on the splash screen on startup
-String localGUIVersionString = "v5.0.7";
+String localGUIVersionString = "v5.0.8";
 String localGUIVersionDate = "September 2021";
 String guiLatestVersionGithubAPI = "https://api.github.com/repos/OpenBCI/OpenBCI_GUI/releases/latest";
 String guiLatestReleaseLocation = "https://github.com/OpenBCI/OpenBCI_GUI/releases/latest";