Cramdowns under Chapter 13 bankruptcy law
Belleville Bankruptcy And Social Security Blog
by johnjohnston
8M ago
Chapter 13 bankruptcy helps to provide a lifeline to individuals and businesses struggling with overwhelming debt. Understanding the intricacies of this legal process can be a game-changer when managing and relieving your financial burdens. If you’re currently exploring avenues for debt relief, you’ve likely come across the concept of “cramdowns” under Chapter 13 bankruptcy law. Familiarizing yourself with cramdowns can help to inform your effort to navigate this financial maze successfully. What are cramdowns in Chapter 13 bankruptcy? Cramdowns are a powerful tool provided by Chapter 13 bankr ..read more
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Medical evidence is the backbone of disability cases
Belleville Bankruptcy And Social Security Blog
by johnjohnston
9M ago
When people are seeking disability benefits, one reason that their application may be denied is that they don’t have the proper medical evidence. This can be provided at the time that the claim is filed, but it’s also possible for people to file the claim first and simply provide information about their medical sources. Either way, however, this medical information is going to be the basis of the claim because it shows key details about the alleged disability. This does not mean the doctor is making the decision. They aren’t declaring that someone is disabled or that they are not. That is a jo ..read more
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Do you have to have a “Blue Book” disability to get SSDI?
Belleville Bankruptcy And Social Security Blog
by johnjohnston
9M ago
A lot of people struggle with the decision to file for Social Security Disability Insurance (SSDI), and there’s a ton of misinformation out there that can make that decision even harder. One common misunderstanding is the purpose of the Social Security Administration’s (SSA’s) “Blue Book” or listing of impairments. Many people mistakenly believe that your condition has to be on that list in order for you to meet SSA’s definition of what it means to be disabled. That’s simply not true. What you need to know Having a listed disability can make your claim easier, but not having a condition on the ..read more
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Why the “tools of the trade” really matter in bankruptcy
Belleville Bankruptcy And Social Security Blog
by johnjohnston
9M ago
When someone files for bankruptcy, they may believe that they’re going to lose everything. This is a very common misconception. In fact, some people even avoid filing for bankruptcy because they already don’t have enough money to make ends meet and they think they’re just going to lose the assets that they do own. But the reality is that there are many different bankruptcy exemptions. These are set up to help people keep things that are important, such as homes, cars, jewelry, family heirlooms and much more. One area where exceptions are made is for the tools of the trade. Protecting someone’s ..read more
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How soon can you file for bankruptcy again?
Belleville Bankruptcy And Social Security Blog
by johnjohnston
9M ago
Debt is provided by lenders to people who wish to make large purchases that they couldn’t otherwise afford. For example, people may go into debt for a home or car or use a credit card to buy food, clothing or electronics. But, people also suffer from unexpected debts, such as medical bills Too much debt can cause problems for people. Debtors may struggle to pay off their debt if they face late fees and high interest rates. People who struggle with debt often have more options than they realize. Two common ways people resolve their debt obligations are Chapter 7 and Chapter 13 bankruptcy.  ..read more
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2 things to know about SSDI consultative exams
Belleville Bankruptcy And Social Security Blog
by johnjohnston
10M ago
Applying for Social Security Disability Insurance (SSDI) benefits is seldom an easy process. Many claimants end up being asked to undergo a consultative exam (CE). Consultative exams are evaluations performed by (supposedly) unbiased medical professionals in order to provide clarity about a claimant’s condition. If you’ve recently been contacted and asked to go to one or more consultative examinations, here’s what you need to know. This doesn’t mean that your claim is about to be denied It’s a bit far-fetched to think that the CE physician is really as independent and unbiased as the Social Se ..read more
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Can bankruptcy stop a foreclosure?
Belleville Bankruptcy And Social Security Blog
by johnjohnston
11M ago
If you get a notice that you’ve missed a mortgage payment, it doesn’t mean you’re going to immediately lose your home. It usually takes months for the default-turned-foreclosure process to play out. In fact, most lenders don’t start the foreclose process after just a single missed payment. So, there can be something of a delay between missing payments and getting an official foreclosure notice, giving homeowners time to respond. One potential response to missed mortgage payments that cannot immediately be repaid is to declare bankruptcy.  As soon as you file the foreclosure process stops ..read more
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What is SSDI back pay?
Belleville Bankruptcy And Social Security Blog
by johnjohnston
11M ago
The time between the application for and the decision on a Social Security Disability Insurance (SSDI) claim typically takes between three to six months. Then, if your application is denied, you must go through the appeal process. If your claim is eventually approved, what happens to the money you would have been due during that long wait? You won’t lose those benefits The Social Security Administration (SSA) refers to these unpaid benefits as “past-due benefits.” This payment covers the period of time between when you filed for disability and when you were approved – and, sometimes, even more ..read more
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2 kinds of bankruptcy that could benefit you
Belleville Bankruptcy And Social Security Blog
by johnjohnston
1y ago
Many people suffer from overwhelming debt caused by unexpected medical bills, accidents, late fees, unemployment and rising interest rates. After accumulating debt that can’t be paid, people often search for quick and easy solutions to their troubles. As a result, many people file for bankruptcy. Bankruptcy is a process that allows people to wipe out large amounts of debt.  People have many options when seeking debt forgiveness. Two of the most common options are Chapter 7 and Chapter 13 bankruptcy. Here’s what you should understand about each: Chapter 7 bankruptcy is the most common Peop ..read more
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Do people avoid filing for bankruptcy because of the stigma?
Belleville Bankruptcy And Social Security Blog
by johnjohnston
1y ago
Financial hardship can be a bitter pill to swallow. Unfortunately, anyone can be in this position and may need to file for bankruptcy. However, some people avoid doing this because of the stigma associated. Gone are the days when bankruptcy was associated with poor money management, and people who filed were viewed negatively.  Today, most people understand that one may need to declare bankruptcy due to medical bills and other unavoidable financial issues. In fact, bankruptcy has become so common that many people you know may have already been there. In other words, the negative public st ..read more
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