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January 2014 Archives

Using credit cards to pay off medical bills: be careful

With medical bills being as expensive as they are, some Americans have turned to using credit cards to settle up with their providers. As that trend has increased, patients have even begun to use rewards credit cards in an effort to get a little something back while they’re at it. Many Americans already have a rewards card of some sort, and can obtain bigger rewards for larger bills. In some cases, patients can even receive a discount on the total cost of the bill from the provider for the prompt payment. Why not, right?

Healthcare industry quick to farm out medical debt

Medical debt is a real burden for many Americans. As the costs of health care have increased and insurance companies have decreased coverage, the problem has been growing. Experts say that the average American household of four had over $20,000 of healthcare costs in 2013. For those who have the insurance coverage and disposable income, these costs are not ruinous. For many families, though, this just isn’t the case.

What do you do when you want/need to retire and you do not have the money!!

  I have been practicing consumer bankruptcy law in Lexington, Kentucky for 25 years now. It pains me to see people come in and tell me that they have liquidated their pensions in order to pay debt/kids college/medical bills etc. My message to all of you today is DON'T DO IT!!!  Your retirement accounts are not there for anything other than you retirement, which is becoming more expensive to navigate with each passing day.

What Does it Cost to file Bankruptcy ?

   Almost everyday I get a call from someone wanting to know what it costs to file bankruptcy. It is frequently the first question. It shouldkn't be, but it frequently is. When I hear this I know that the person is of the opinion that all bankruptcy lawyers are created equal. Unfortunatley, that is not the case. Some of our local bankruptcy attorneys in Lexington are new and therefore don't charge as much. They also don't have much expenience and can mess up a personal finances pretty bad by making mistakes in the petition or not asking the right questions when they are preparing the petition.

Country singer files for Chapter 7 bankrutpcy

Eddie Montgomery of the country music duo Montgomery-Gentry recently filed for Chapter 7 bankruptcy in Lexington months after the closure of his steakhouse in Harrodsburg, Kentucky. Montgomery, a resident of Danville, reportedly listed a total of $1.9 million in assets and $13.4 million in debts, most of which stem from his failed restaurant.