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Rogers Bankruptcy Law Blog

Bankruptcy: Is it an option?

Debt, for some, is unavoidable. Sudden medical bills, the loss of a job or other life challenges may make it necessary to take on debts. Once they're back on their feet, many people pay off these debts and carry on with life. Some, though, struggle for too long and fall behind. They may feel they can never get out of debt, which becomes a stressful burden.

One possible solution is to consider bankruptcy. Many do not consider it because of the implications it has in the near future, but if you're truly in over your head, it has the potential to help you significantly. There are other options, such as debt management plans or settlements, that could also help you.

Don't let the possibility of a deal derail your defense planning

A defense to violent crime charges must be carefully planned. It will take some work to determine what facets of the case deserve focus and which only need a passing review. We know that you might not even know where to get started. We are here to help you go over the case and plan a defense strategy that takes your goals into account.

When you are facing criminal charges of any sort, especially for a violent act, you need to look at how the facts of the case might be perceived by the jurors. Your goal is to make them question what the prosecution is claiming. Since the prosecution has to prove "beyond a reasonable doubt" that you did the crime, you need to introduce that reasonable doubt as part of your defense.

Know about the different types of homicides charges

The loss of a human life is a serious matter. When there is foul play, negligence, recklessness or similar matters involved, the loss of life might mean that there is a criminal element to the case. In some instances, a homicide case might be opened.

Many people don't realize that there are some deaths that aren't murder. Sometimes, deaths occur naturally or they are fully accidental without any malice. When this occurs, it might be possible to face criminal charges but those charges are likely going to be less serious than murder.

Should you work with a debt-settlement company?

If you are in over your head with credit-card debt, one of your options may be debt settlement. A debt-settlement company isn't always the best avenue for settling your debts with your credit-card lender, though. Instead, understand that you can negotiate with your lender directly. Often, if you're willing to pay a lump sum at one time, it's possible to negotiate a debt and pay it off for less than you owe.

Debt settlement comes with risks if you choose to work with a debt-settlement company. First, know that some companies make you deposit money monthly into a special account before your debts are settled. For example, company A may ask you to deposit $300 monthly for 24 months to settle your debts. If you can't afford these payments, it's advisable to avoid the service and look for other ways out of debt. If you miss a payment, it's possible you could lose the agreement and again have to pay your debts in full.

Carefully consider bankruptcy if you are drowning in debt

We've recently discussed how bankruptcy isn't an easy way out of debt. This fact is one that many people don't realize. They think that anyone can file for bankruptcy, have debts forgiven and move on with life without another thought. If you recall, we covered some of the education requirements that are necessary before and during your bankruptcy case. These are serious parts of the case and must be taken seriously.

When you make a decision to file for bankruptcy, you are admitting that you can't handle what you have going on right now. This is a very good thing because it opens the door for you to be able to find out what went wrong and how to correct the issues so that you don't have to deal with them again.

Counseling is necessary for a bankruptcy filing

Some people think that filing bankruptcy is an easy way out of debt, but this isn't at all the case. Instead, it is often the avenue of last resort for people who have tried desperately to take control of their financial situation. One thing that you might not realize is that filing bankruptcy isn't a fast option either.

Before you file for bankruptcy, you have to go through credit counseling through an approved agency. This roughly one-hour session is meant to try to find ways that you can take control of your finances without having to file for bankruptcy. It will also go over some of the important points that you need to be aware of if you file.

Credit debt could increase with new rate hikes in 2018

Credit-card debt is a growing concern in America. Thanks to the growth and stability of the economy at this time, people have felt comfortable taking on debts they may not have in the past. There's a risk to taking on debt, though. One of those risks is facing hikes in your interest rates, costing you more money than you initially planned for.

If you have credit-card debt, you may want to do all you can to reduce it before a rate hike takes place in 2018. According to a news report from March 21, the Federal Reserve is raising interest by a quarter percentage. While that doesn't seem like much, it could hurt those with significant debt. Even worse is the fact that the Federal Reserve intends to raise the rates twice more this year.

Drunk driving is illegal in Arkansas

Drunk driving isn't tolerated in Arkansas. It doesn't matter what's going on in town or where you are headed, you shouldn't get behind the wheel if you have been consuming alcohol. The penalties for impaired driving are serious here, so make sure you take this into consideration before you make the decision to drive after having a few drinks.

One of the things that people don't realize about Arkansas is that you face a driver's license suspension if you are convicted of drunk driving. On a first offense, you are looking at six months without being able to drive. The period of the suspension goes up with each consecutive conviction.

Know your options for handling outrageous medical bills

Let's face it -- medical care in this country often comes with an astronomical cost. Even people who have good health insurance might get crippling bills after seeking care. For people who don't have insurance, the cost is even more staggering. In all of these cases, you should learn about what options you have for taking care of the bills.

One thing to remember is that you do have the right to question the bill. You can ask for an itemized bill for your care. This will detail what each penny is for in the bill. As you look over this bill, you should make sure that there aren't any errant charges in it. You might be shocked at how much you were overbilled.

Can you negotiate medical bills?

Medical debt is one type of debt that can instantly be overwhelming. Whether it's a single blood test or a major surgery, the costs have a potential to be high. When surgeries can cost thousands of dollars and blood tests range in the hundreds, it's no wonder that a single visit to a hospital emergency room puts so many people in debt.

The good thing about medical debt is that there are many ways to handle it. By focusing on the bills you receive and working out a plan of attack, you can reduce what you owe and prevent medical debt from taking over your finances.