Some areas of law are relatively straightforward, while others are maddeningly complex. As a result, some legal actions can be safely taken without the aid of an attorney, while others require experienced advice. For example, you would likely not need an attorney to help you before you signed a common cellphone contract with a major carrier. However, you would likely wish to consult with an attorney if you chose to file for divorce.
Statistics can be hard to grasp until they are practically applied. On face, the statistic of “33 percent” means nothing unless it is applied. However, if someone scores 33 percent on a test, that individual has earned the letter grade of “F.” If a certain brand of meat carries a 33 percent risk of contamination, you are almost certainly not going to eat it. And according to the Kaiser Family Foundation, 33 percent of Americans admit to having difficulties paying their medical bills.
There is an old adage which says that an ounce of prevention is worth a pound of cure. This is certainly true when it comes to healthcare. For most of us, living a healthy lifestyle and preventing disease and injury are far cheaper than paying for expensive care when our health begins to fail. In light of the fact that medical debt is the leading cause of personal bankruptcy, investing in your physical health may be a way to safeguard your financial health.
You have likely seen ads for car title loan companies on television. Or perhaps you have heard them playing at numerous commercial breaks when you listen to the radio. Or perhaps their advertisements invade your attempts to search for anything on the Internet. Car title loan companies advertise widely. But these companies are most eager to find individuals whose challenging financial situation makes their pitch particularly appealing.
When the Affordable Care Act was passed, one of its major goals to protect people from the ruinous medical debt that many people have been forced to incur after a single, catastrophic accident or if they suffer from a chronic illness that prevented them from getting insurance. Relief from medical debt has become the No. 1 reason Americans seek bankruptcy protection, and the ACA was meant to help.
According to dailyfinance.com, more than half of all American parents were planning to take on at least some holiday debt in order to buy presents for their children, and its likely you did, too. Consumer credit card debt in the U.S. totals almost $800 billion -- second only to student loans in the total held by Americans.
Despite the Great Recession being officially declared over, it’s still a tight job market. Many people remain unemployed, while others are still worried about their job security. Even some in stable jobs feel they can’t afford to take risks.
Earl Simmons, the rapper known as DMX, filed for Chapter 11 reorganization in July, but he’s not getting much relief -- and it’s not the first time. The performer tried filing for bankruptcy in 2009, but that case was dismissed by the bankruptcy court after it found DMX had “unreasonably delayed” the case to the detriment of his creditors.
You may be thinking to yourself that a bankruptcy attorney’s blog isn’t likely to recommend trying to file bankruptcy on your own, and you would be right. This isn’t about helping bankruptcy lawyers hold onto their clients, however -- it’s advice from the Los Angeles Times’ consumer columnist David Lazarus.
Written by Dan Marshall