10 ways to protect your self from bankruptcy caused by prolonged illness.
10 ways to protect your self from bankruptcy caused by prolonged illness.
Accidents and prolonged sickness can be a drain both emotionally as well as financially. Sometimes money crunch is caused by the inability to hold a job, or when the medical bills escalate and it becomes increasingly difficult to balance expenses. Further, medical insurance may prove insufficient or will not cover long term medications. Life has become such that one needs to think about and plan for any eventuality. Experts recommend the following: 1. Ask your doctor for samples of medication. 2. Often an older drug is effective and cheaper. Request the doctor to write a prescription for a drug that is more affordable. According to studies you can save up to 75% this way. 3. Find out the generic name of the medication and choose to purchase it instead of branded medication —the saving can amount to as much as 70%. 4. Very often companies sell higher dosages of medication for a marginally higher cost. Be prudent, buy the higher dosage and spilt the medication in half, one-third, or quarters. The savings you can make are almost 50 %. 5. Order 90-day supplies in bulk from discount mail order pharmacies or online services. The savings are considerable and many doctors help long term patients reduce costs by putting the patients in touch with distributors. 6. If a particular medication is very expensive ask the doctor to recommend a substitute. This is known as therapeutic substitution. 7. Do try comparison shopping. You will find that the same medication is priced differently in local pharmacies, online outlets, and chain stores. Online pharmacies like http://www.walgreens.com/, www.costco.com , or http://www.drugstore.com/ offer medications at affordable prices. 8. There are several patient-assistance programs that offer free or discounted medication to those who cannot afford long term illness. Companies like Merck have programs that benefit uninsured patients. Medicines are given at discounts of 10-40%. 9. If you or a family member travels frequently you could buy your medicines abroad. Often the same medicine manufactured by the same company is much cheaper overseas. One can also order medicine by mail from Canada where medicines cost 30-50% less than the US. But do check the laws before you attempt this. 10. Start a health saving account where you can save pre tax dollars towards unforeseen medical expenses. This has a high deductible. Find out if you or other family members are eligible. Use an insurance broker who always thinks of you. He must keep you updated on all new developments as far as health schemes are concerned and make sure you reap all the benefits of the insurance scheme. You could also consider a critical illness policy in addition to a regular health insurance. Paul Wilson is a freelance writer for http://www.1888Discuss.com/home-improvement/ , the premier REVENUE SHARING discussion forum for Home Improvements Forum including topics on buying, selling and insuring, automobile, electronics and more. He also freelances for submit free press release http://www.1888PressRelease.com/Legal-0-23.html
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Bankruptcy Lawyer: Your Final Solution When Running Out Of Options
Before rushing to a lawyer to assist you in filing for bankruptcy, you have to make sure what is bankruptcy and what is not. Only then will you have to find a bankruptcy lawyer that you can work with in filing your case. Many people rush to file for bankruptcy thinking that it will solve their financial problems. The opposite is often true. Declaring your business to be legally bankrupt, only mean that you have done everything you could and there is no way for recovery. It means being deep in debt that it will already be impossible for you to sustain the business. There are kinds and variations to bankruptcy and the legal process will depend very much on where you are coming from but the purpose is the same. Bankruptcy cases will take years to resolve. The court will determine what debts do not have to be repaid and what will be directly deducted from your income. In the interim, credit lines will be closed to you. Your credit history will be tainted and no credit institution will want to do business with you. Back taxes that you owe will still have to be paid and obligations will still be enforced like alimony and child support. When there is no resolution that is possible, finding a good bankruptcy lawyer will then be the only recourse. A good bankruptcy lawyer should be someone you can be comfortable talking with. Someone you can trust and someone who has displayed competence in handling bankruptcy. This is very important as communication between you and the lawyer must be based on trust. There have been so many instances when the client holds back on information that he thinks is not so significant only to learn later on that the piece of information that was withheld posed additional complication to the case. Withholding information from your bankruptcy lawyer pose problems where non existed before. Bankruptcy lawyers can only help the client to the extent of the knowledge that the lawyer has. It is crucial then that the client works with the lawyer. This is in the first place the client?s future that is at stake. Do not hesitate to interview the lawyer prior to retaining him. Ask the lawyer questions and a good lawyer must answer you in a language that you can understand. If you don?t, do not be afraid to clarify statements that could be ambiguous to you. Find out a bankruptcy lawyer that already has an extensive experience in handling bankruptcy cases. Whenever possible find a bankruptcy lawyer who is a specialist. Avoid the generalist, as they may not be able to help you as much. If you feel uncomfortable talking with a particular bankruptcy lawyer, find another one. You can visit the local bar association to find out their recommendation. When you visit your bankruptcy lawyer, bring a list of all the creditors that you owe, including payments to personal loans that you are not left behind and a list of all your assets and liabilities. The more information you provide the bankruptcy lawyer, the better and more accurate the recommendations he will give you. Remember that lawyers can only work as good as the information that you provide. Cooperate well in giving your lawyer the data regarding your case because you are in the best position to give those to him. You also will be the person that will either suffer or benefit from the outcome. Robert Thatcher is a freelance publisher based in Cupertino, California. He publishes articles and reports in various ezines and provides bankruptcy lawyer resources on <a href="http://www.your-bankruptcy-lawyer.info">www.your-bankruptcy-lawyer.info</a>.
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Basic Information About Bankruptcy
How will Filing for Bankruptcy Affect my Credit? . .Bankruptcy is a life changing event in any person’s life, with long lasting consequence For example, a record of the bankruptcy will appear in the Public Records section of your consumer credit report for the next ten years Having said that, however, consumers can and do seek and obtain credit after going through bankruptcy . .What Information will be on my Credit Reports? . .In addition to the public record of the bankruptcy, each of your creditors that were included in the bankruptcy will update your account to reflect the bankruptcy The exact information reported will vary based upon the history of the account at the time the bankruptcy is filed In general, most accounts should be reported as “Included in Bankruptcy ” Some may refer to the specific type of bankruptcy with remarks such as “Chapter 7″ or “Wage earner repayment plan ” . .After bankruptcy, the balance, current payment, and amount past due should all reflect zero dollars However, if you were late on your bills before your bankruptcy was filed, those notations may or may not appear on your credit reports The last part of this article discusses how to dispute false information on your credit reports after bankruptcy . .Will I be Able to Get Credit after Bankruptcy? . .For the majority of consumers that file for bankruptcy and either obtain a discharge (Chapter 7) or complete their repayment plan (Chapter 13), the answer is “Yes” It is likely that credit will be more costly than prior to bankruptcy, which may be reflected in higher interest rates, security deposits, or lower amounts of credit offered The two most important factors in being able to obtain credit after bankruptcy are 1) paying all of your bills on time after bankruptcy; and 2) the length of time that passes after your bankruptcy Obviously, you have control over the former, but not the latter Consumers can rebuild their credit after bankruptcy by using low limit or secured credit card accounts, and conscientiously paying them off each and every month . .How to Dispute False Credit Reports after Bankruptcy . .As noted above, post-bankruptcy credit reports should show discharged accounts as “Included in Bankruptcy” with a zero balance and zero past due Often these accounts are reported inaccurately, or have not been updated with the correct information Under the Fair Credit Reporting Act, consumers have the right to dispute false or incomplete information in their credit reports . .First, get a copy of your credit report Consumers can request their free annual credit report by writing to Annual Credit Report Request Service, P O Box 105281, Atlanta, GA 30348-5281 The request form is available at the annualcreditreport com website . .Next, send a written dispute letter to the credit reporting agencies Tell them that you filed for bankruptcy, and give them the bankruptcy court case number List the specific accounts and account numbers which were discharged Send your letter via certified mail, with a return receipt requested Keep a copy of your signed, dated letter, along with copies of enclosures . .If you cannot get false information deleted from your credit report, you may want to talk to a consumer protection attorney about your rights under the Fair Credit Reporting Act .
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