Monthly Archives: April 2018

Unexpected Benefits of Bankruptcy

Bankruptcy offers a person relief from the pursuit of creditors, but many people fail to realize that there actually a large number of unexpected benefits that arise from bankruptcy. This article will review some of the important but little known benefits that individuals are often able to realize through bankruptcy. Avoid Paying Former Spouses Some Debts Bankruptcy allows a person to discharge some or even all non-support obligations associated with a divorce, which can result in individuals saving a significant amount of money in some cases. Bankruptcy can Reduce the Impact of a Tax Lien In some situations, bankruptcy can result in tax liens being made either entirely or partially ineffective, which can save a person a significant amount of money. Change the Payment Terms for a Loan In many cases, people discover that declaring bankruptcy lets them reduce the monthly payments for a loan. In some cases, bankruptcy can even help a person escape a repayment plan altogether. Erase Judgment Liens on a House Bankruptcy, in many cases, allows a person to avoid judgment liens that have been placed on his or her house, which can prove to be particularly beneficial. Escape Unaffordable Payment Plans Bankruptcy often lets individuals     Read More

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Advice if You are Denied Medicaid Benefits

People who are denied Medicaid or have their benefits terminated are frequently left confused and uncertain about how to proceed. Fortunately, there are some measures that a person in this situation can take to preserve his or her rights. This article will review some of the important steps that a person should take after being denied Medicaid. Request an Administrative Hearing A person who receives Medicaid should make sure to request an administrative hearing within 45 days after being denied Medicaid or having Medicaid terminated. To request an administrative hearing, a person must complete an administrative hearing request form (MSC 0443) and submit the document to to the Department of Human Services. Continue Receiving Benefits Request forms allow a person to keep the same Medicaid benefits while waiting for a hearing. This can be done by selecting this option on the hearing request form. It is important to note that a person must request to continue receiving benefits within 10 days of Medicaid being terminated. Many people benefit from this decision because the rate of Medicaid reimbursement is frequently less than the private pay rate. Prepare for the Hearing Before a Medicaid hearing, states are required to review applications and     Read More

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Things to Avoid During the Bankruptcy Process

For people who have a significant amount of debt, filing bankruptcy is often a wise idea. The bankruptcy process not only lets a person eliminate debt, but in many cases a person is also able to obtain manageable payments and begin planning for a better future. Many people discover that a seasoned bankruptcy attorney is able to help them overcome their financial hardships and determine their available legal options. There are some important things, however, that a person should avoid while declaring bankruptcy. Avoid the Accumulation of New Debt Many people feel the temptation to obtain a new credit card or even personal loan during difficult financial times. There is a risk, however, that creditors might view any financial agreements entered shortly before bankruptcy as a sign that the individual did not intend to repay the amount. In some cases, a person might even be charged with fraud. As a result, individuals should avoid obtaining any type of new debt during this time. Avoid Moving or Transferring Assets As part of the bankruptcy process, a person must list all of his or her assets, which includes any assets that were recently disposed. Some people who recently sold or transferred assets     Read More

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