While Congress busily tries to hammer out some kind of health care reform, their efforts will be too little, too late for many Americans. Some of the most appalling news to come out of all the health reform talk is the way medical bills can break a family financially. Relatively recently, in 1981, only eight percent of bankruptcies came about as a direct result of medical bills. By 2001, more than half of the country’s personal bankruptcies had illness and onerous medical bills at their root. Since then, bankruptcies triggered by medical debt have increased 50 percent.

Unfortunately, it’s not enough to have a good job and good insurance. Of those who declared bankruptcy due to medical debt, more than 75 percent were insured at the beginning of the bankrupting illness. High deductibles, co-pays, and loopholes over what may or may not be covered cause the out-of-pocket expenses to skyrocket when an illness is serious. Additionally, when the primary wage earner is unable to work, both the family’s income and job-based health insurance can be lost just when they are most necessary.

The currently growing group struggling to meet medical bills consists of seniors. A variety of factors come into play, and our sluggish economy isn’t helping. Some people have been forced into retirement earlier than expected, while others are finding their retirement investment returns dwindling.

Perhaps these severe problems with our nation’s health care will be addressed and resolved, perhaps not. In the meantime, what should people be doing? Your illness and your medical bills won’t wait until the thousand-page health care reform bill wends its way through Congress. If you’re already facing mounds of debt, if you’re finding it impossible to pay your mortgage and meet your bill deadlines, it may be time to consult a Phoenix bankruptcy lawyer.

Don’t wait until your utilities are cut off or your home goes into foreclosure. Definitely don’t wait until a family member is forced to go without necessary medical care. Instead, explore your options with an expert. A Phoenix Chapter 13 bankruptcy can allow you to keep your home and your automobile while restructuring your debt. Phoenix bankruptcy attorneys are versed specifically in both federal and Arizona bankruptcy laws and can advise you on proper action to take now.

Until true reform comes through, you may need an expert like that in your corner.

U.S. auto manufacturers are facing more pressure from import manufacturers every year. They have already been feeling the heat from Nissan, Toyota and Honda, but now with Hyundai taking a larger chunk of the middle and lower range cars, SUV’s and trucks this may be the start of the end of the likes of Ford and G.M.

Ford has already announced a restructuring and a projected cut of 30,000+ jobs. G.M. has recently retired an old name brand Oldsmobile and is posting losses on a regular basis. Delphi Corp., the largest auto parts supplier for U.S. manufacturers has already declared bankruptcy which makes buyers leary of future parts availability. Most of the other parts suppliers are very close to or are currently declaring bankruptcy.

In the 80′s when Chrysler was having severe finacial woes the government stepped in with million dollar loans and other aid. The government is currently reeling from Katrina, New Orleans, and the war in Iraq. It can’t afford to bail out Ford or G.M. The public opinion is against a government bailout as the economy is not its best. George Bush has too many other problems to deal with like high gas prices, natural gas, Iraq, etc…

So, without a government bailout and no proposed new laws to halt the outsourcing and outflowing of jobs and such to overseas giants like China and Japan, it is only a matter of time before Ford and G.M. go bankrupt. Toyota and Honda have been gunning for the number 1 spot and now that they have it are not going to give it up. The only hope left is with the trucks. Both Ford and G.M. have a bustling truck business and it is their only profitable business. The imports have tried to break into this market and after quite a few years they have not had much success. The majority of trucks are bought by die hard Ford or Chevy people. But, that may also change. Toyota has found that the key may be in Nascar. This could and will lead to other imports getting involved and taking the American out of Nascar. That would eventually happen as they have more money and lower costs.

Basically, with the laws the way they are right now, the U.S. auto manufacturers do not stand a chance. So the question is do we restrain trade with countries like China and Japan, possibly hurt foreign relations, Make it more expensive to buy better built and higher quality imports, etc… Or let democracy, free trade, and a capitalist society have its way giving Americans the best, safest vehicles, for the lowest price? Regardless of how we make our laws, Walmarts or their equivalents will always prevail – the basic premise of Walmart’s founder Sam Walton was to sell the best products to consumers at the lowest price possible. Look at what he did. In a period of 40 years he went from one store to being the largest retailer in the world. Walmart has plans for 2500 stores in China. Maybe the U.S. auto manufacturers could learn something here. Take the imports on at their own game, stop paying multi-million dollar compensation packages to executives that aren’t fixing the company. Maybe they need to pay more attention to what brings the best results in advertising at the least expense. Why is it that some companies must spend millions on advertising and others in the same niche get more results for much less?

Ford and G.M. need to rethink and come out with an attack plan. Go after the imports at their own level. Maybe make a marketing ploy of America and what we may lose. The kids of today aren’t growing up dreaming of Shelby Mustangs and Corvettes. They are driving Honda and Toyotas that they fix up like in the Movie The Fast and the Furious. Maybe its too late.

When a home owner finds that they are no longer able to maintain their mortgage payments they may have to hand back the keys to the property and move out. Bankruptcy is then the easiest option to write off outstanding debts and start again debt free. After the changes brought in by the enterprise act of 2002, the rules surrounding bankruptcy were amended. Most significantly, the period that a person remains bankrupt in most cases was reduced from 3 years to 12 months.

It was suggested by many that these changes revolutionised the bankruptcy process making it much easier for an individual to go down this route. In reality however, the main reason why people avoid bankruptcy has remained unchanged. This is that they are home owners who do not want to risk losing their property. The loss of property is a likely outcome if a home owner declares bankruptcy because if there is any significant equity, the house will normally be sold to realise this for creditors.

However, this reluctance to declare bankruptcy no longer applies if the homeowner is already resigned to leaving their property. In a situation where an individual knows they are unable to continue to pay the mortgage on their property, it is likely to be repossessed by the mortgage company and they will have to move out. If the individual has unsecured debt outstanding (which will almost always be the case given a likely mortgage shortfall), bankruptcy becomes a very real option as there is no longer a property to lose.

For people who know they will have to leave their property and then want to deal with their unsecured debt liability, the bankruptcy process is relatively simple. The first step is to move into alternative rented accommodation. This should be done before declaring bankruptcy to aid the credit checking process. Once done, the mortgage company can be told that the mortgage on the old house will no longer be repaid and that the house should be repossessed. At this stage it is advisable to complete a voluntary surrender form confirming to the mortgage lender that the property has been vacated. The local council should also be informed so that council tax is no longer charged.

The bankruptcy process can then be completed including any estimated mortgage shortfall in the list of unsecured creditors. This and any other secured debt will be written off by the bankruptcy. In 12 months, the individual will be discharged debt free to continue with their life.

Of course, a solution like this is not suitable for everyone. For example, you cannot continue as a company director if you declare bankruptcy and as such, bankruptcy is not generally possible for directors. However, for the vast majority of people who have no property, the downsides to bankruptcy are minimal. As such it is often an excellent solution for those who have already made the decision to walk away from their property but are worried about being left responsible for a mortgage shortfall.

For people in dire financial straits who are considering bankruptcy, one major hurdle or deterrent can be the question of the cost to declare bankruptcy. But few people actually know exactly what it will cost to declare bankruptcy. This article tackles that subject.

The first thing to consider is the court costs. At present, those are $274 for Chapter 7 and $189 for Chapter 13 bankruptcy. This might seem a little excessive considering the fact that the very reason you require such a service is because you are in a difficult financial situation. However, when you consider the potential of what bankruptcy can do in terms of relieving your financial stress, these costs seem far more reasonable.

However, when considering the cost to declare bankruptcy, the real cost is not in these court fees. As with most legal situations, the real price tag is attached to your lawyer. And you will need a bankruptcy lawyer. There is no way around the fact that fees for bankruptcy attorneys add up sometimes to a hefty chunk of cash. Particularly since reforms to the bankruptcy laws in 2005, which have made the process more complicated for lawyers. But the fact is that you simply have to have a lawyer and in doing so, and in having one you have faith in, you are more likely to file successfully, thus free yourself of much of your financial worry. If you are successful in declaring chapter 7 bankruptcy, you will be freed of many of your outstanding debts, thus freeing up funds to pay these fees. In addition to this, the automatic stay comes into play as soon as you file, which forbids your creditors from contacting you to demand any form of payment, thus making it easier for you to find funds to pay your lawyer.

Want to know how to manage your debt without losing control? Get the right information on Cost To Declare Bankruptcy before you make the important decision. To get the facts on bankruptcy, simply Click Here

You have a house that is rather large, and while you once had the money to pay the mortgage, you now have to declare bankruptcy for that home in Ohio. There are many reasons why you had to declare bankruptcy, but the most prevalent one is because you lost your high-paying job. However, you will find that declaring bankruptcy in Ohio is not an especially difficult process.

About Bankruptcy in Ohio

When it comes to declaring bankruptcy in Ohio, it should be noted that there are several things you should check first in order to truly be considered bankrupt. First of all, there is the matter of how long it has been since you have actually been able to pay your bills. If it is a matter of note being able to pay them for a month, then that is not yet considered bankruptcy.

If you plan on declaring bankruptcy in Ohio, that means that you are unable to pay any of the bills that you have. Some people are able to pay some bills but not others, and this does not make them able to declare bankruptcy. True bankruptcy means that you are unable to pay any of your bills, and that your current income is either nothing or below the poverty level.

So, if you are declaring bankruptcy in Ohio, the first thing that you need to think about is what you can sell in order to repay some of your debt. Some people decided to sell some of their belongings to pawn shops, but you do not necessarily have to do this. First of all, if you still have a considerable amount of money left to pay on your mortgage the bank will repossess your house. This might lessen some of the debt, depending on your financial situation.

Next, the bank might repossess your car too. It really all has to do with how long it has been since you paid your car insurance and other car bills. It also has to do with how valuable you car currently is. For example, a used car in good condition would still be less favorable than a new car in good condition.

Lastly, something that is necessary for you to consider when it comes to bankruptcy is how you lost your job in the first place. While you can find help for getting out of bankruptcy, if you left your previous job on bad terms that might hurt your cause. For more information, search the internet. With the proper research, you are sure to be able to find a way to get a new job, thus eliminating your bankruptcy.