By: Darrell Castle There are two chapters of individual consumer bankruptcy and they both do different things. Which one is better for YOU depends on YOUR unique situation. Are you behind on your house or car note and want to keep your property? Are you behind on credit card or medical bills and just want to get rid of that debt relatively quickly? Determining which chapter is best for you depends on the answers to these questions and more. An experienced bankruptcy attorney can help you determine which chapter to file, but let’s touch on what they’re both used for and can accomplish. Chapter 7 bankruptcy Unsecured debts are debts that are NOT backed by collateral, like your credit card
How Specialties Affect Which Doctors Get Sued Which doctors get sued the most? It depends a lot on your specialty. The Rand Corporation released figures by the Massachusetts Medical Society that outline which types of doctors most commonly face lawsuits. The studies show a significant increase in risk of medical malpractice suits based on the risk of the work typically done by the doctor. In other words, the lawsuits don’t depend on geography, hospital budget, or patient’s outlook. It depends on how risky the procedure is. Specialties with a really high risk of problems all run a high risk of medical malpractice suits. This includes any doctor or surgeon focused on: brain surgery heart surgery or childbirth In each of these examples, the stakes
Chapter 7 or Chapter 13 Bankruptcy? A lot of people wrongly assume that Chapter 7 bankruptcy is somehow inherently better than Chapter 13. After all, Chapter 7 has the advantage of clearing out your unsecured debt very quickly. Chapter 13 takes longer and reorganizes your debts rather than clearing them out entirely. With that in mind, sometimes clients will come to our office expecting to qualify for a Chapter 7. Then we talk, and after our conversation it’s clear their priorities and financial obligations would make Chapter 13 a better choice. It’s true Chapter 7 has a lot of advantages. But there are plenty of situations when you probably don’t want a Chapter 7, or when you might actually prefer
If you live in Memphis, you know the poverty rate is out of hand here. Perhaps you’re even struggling yourself. And data shows the financial problems in Memphis fuel a $5.3 billion “poverty industry,” according to The Commercial Appeal. The industry, which supports around 1000 local businesses, ranges from health clinics to pawn shops, from check cashiers to farmers markets that accept food stamps. The funds come mostly from the federal government through subsidy and welfare programs. The rest of the money comes from the state government, charities, and some underground or criminal activity. Sometimes people who aren’t suffering from poverty assume the people involved are trying to take advantage of the system. But I meet people in our Memphis
SSDI Claims on the Rise. Who Benefits? We’ve spoken recently about an upswing in SSDI claims over the last decade. But who really benefits from the increase in SSDI claims? First, doctors benefit. Doctors make a lot of money from the SSDI claims system. You have to see a doctor and get their opinion before you can ever apply. For an excellent application, you may even need a doctor to write a specific statement for you. Employers benefit. Whether they purposefully discriminate or not, a lot of employers don’t want unhealthy workers. They don’t always make workplaces comfortable or usable for people with disabilities. As a result, many disabled employees seek other options, which opens up the position to people
Anyone who is injured while on the job or develops an illness related to work may be entitled to worker’s compensation benefits. Injuries can range from carpal tunnel syndrome to construction accidents and even death. In Tennessee, employers with more than five employees are required to have workers’ compensation insurance; and construction companies must offer it no matter how many employees they have. So if you are an employee at one of these businesses, and if your injury or illness is job related, then you are quite possibly eligible for compensation through workers’ comp. Workers’ comp thus seems pretty simple, at least as you get started. In reality though, sometimes the insurance companies deny legitimate claims and make it difficult
Video Transcript Hi, I’m Darrell Castle and I’m an attorney licensed to practice law in the state of Tennessee. And the answer to that question is, almost anyone can file for Chapter 13 bankruptcy. Citizens and non-citizens alike qualify. But there are some things you have to do to qualify for Chapter 13. You have to meet certain requirements. It’s open to anyone who meets these requirements. First of all, you have to file your income taxes. You have to be able to present proof that you’ve been filing your income tax and so forth. Second, you can only file if your secured debt — and that means debt that has property that if you did not pay the debt
By: Darrell Castle Chapter 7 bankruptcy has a lot of power. The powers are so beneficial that I just had to cover them all in a free e-book. You can download it here — all you need is a name and email address! But WHO does it benefit? Who can file for Chapter 7 bankruptcy? If you have unsecured debt you’re struggling with and just can’t pay, then Chapter 7 bankruptcy is a great option for you. Unsecured debt is simply debt NOT backed by collateral or property. Unpaid credit card and medical bills are perfect examples of unsecured debt. There’s no property your creditors can take from you when you fall behind on the payments. However, that doesn’t mean
By: Darrell Castle You qualify for Social Security Disability Insurance if you’re MEDICALLY unable to work. You DON’T qualify for Social Security Disability Insurance if you have the ability to work but just don’t want to work or you can’t find a job. The Social Security Administration (SSA) will determine whether or not you’re disabled when you apply. The SSA has an impairment listing – also referred to as the “blue book” – that lists special disabilities a person can have that would automatically qualify them to receive Social Security Disability Insurance benefits. If you think you’re medically unable to work but you’re disability doesn’t match one listed in the impairment listing, you can still apply, and you should! It
By: Darrell Castle Despite popular belief, bankruptcy benefits more than just the person filing. And no, I’m not talking about the attorney! Bankruptcy can benefit the creditors and society as a whole. Let’s take Chapter 13 bankruptcy for example. By filing for Chapter 13 bankruptcy, you can lump your debts into an AFFORDABLE 3-5 year repayment plan. Chapter 13 is especially beneficial if you’re behind on your house or car payment as it allows you to keep your property, which is one of the benefits for the debtor along with getting out of debt. But it’s also beneficial for you (the debtor) because, again, it’s an AFFORDABLE payment plan. Many times, you’re only paying a fraction of your debt back