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November 2016 Archives

Emergency room visits can lead to surprise medical expenses

Going to the emergency room usually means that one is having a severe health crisis. Once there, one's thoughts are simply that the illness or injury is promptly and properly treated. And, for many in Long Island, this is the case as they are discharged and go home to rest and recuperate.

Reaffirming debt in a Chapter 7 bankruptcy

As some Long Island residents may already know, a Chapter 7 bankruptcy filing can be the financial lifeline they need to climb out from under an insurmountable amount of debt. This is particularly true if the debtor has unsecured debt that is not associated with collateral, such as credit card debt or medical debt, which will be paid off via liquidation. However, what Long Island residents may not know is that even if they go through the Chapter 7 bankruptcy process, they may choose to "reaffirm" a debt if they wish to keep a piece of secured property, for example, a motor vehicle.

Making minimum payments may not help those with credit card debt

Credit card debt is different than other types of debt. There isn't a repayment plan with a defined end-point. Instead, a person just has to pay the minimum payment each month. If a Long Island debtor wants to pay more, he or she can, but it isn't mandatory. However, such flexibility can be damaging.

Homeowners facing foreclosure should watch out for these scams

People in Long Island who have fallen behind on their mortgage payments may be desperate to find a way to avoid foreclosure. For some, trying to sell their home is their preferred option. However, they need to look out for scammers presenting them with deals that are simply too good to be true.

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