Remember when a person’s 65th birthday used to be a milestone. Well, it still is of course, but that used to be the age at which your working days were over and your retirement began. You said goodbye to your boss and co-workers and did not look back. As they say, “That was then, this is now” and according to a recent article by CNBC’s “On the Money”, approximately 19 percent of people age 65 and over are still working either full or part-time. This is the highest rate since 1962 a span of over 55 years. Retirement is simply…Read More
Bankruptcy is common enough that most people know the basic principles for filing a case. However, some of the bankruptcy requirements are less well-known, which is why we always recommend you consult with an experienced bankruptcy attorney before filing a case. Keep Orderly Records First, the Court can require you to keep orderly business records if you own your own business. Profit and Loss statements, payroll records for employees, inventories of goods or supplies, and prepared financial statements are just a few examples. This rule partly exists so that a person cannot try to avoid investigation by claiming that…Read More
As anyone who has planned a wedding knows, the wedding gown is one of the most important- and pricey- decisions the bride will make. Brides around the country are in a panic now that the bridal chain Alfred Angelo has filed for Chapter 7 bankruptcy. The company reportedly closed all 61 of its stores this past Thursday as part of its plan to file bankruptcy. No Warning This past week, all Alfred Angelo stores all shut down with little to no warning to its customers. The closings came as a big surprise to customers of the 80 year old company. …Read More
This episode of the Next Lawyer Up podcast features attorney Doug Jones. I know that it is probably not prudent to wade too much into politics on the Next Lawyer Up podcast but, in this particular case, I (speaking for myself only) am willing to make an exception. If there is any justice at all, attorney Doug Jones will be the very next United States Senator elected from the state of Alabama. Doug was born and raised in Alabama. He graduated from the University of Alabama and from Samford University’s Cumberland School of Law. Doug is now in private practice after having served as…Read More
The average consumer knows that credit cards do have advantages, e.g., better response to fraud issues, ease of renting cars and hotel rooms, cash back and travel bonuses. The problem? Many consumers use them to spend more than they can afford. As simple as that notion may seem, CNN Money released an article suggesting that the problem of overspending could be avoided if consumers had a “good introduction” to credit card use. Specifically, the article suggests avoiding three rather large mistakes when selecting a card: (1) Avoid paying credit card late fees; (2) Avoid unnecessary interest; and (3) Get something…Read More
The Center for Financial Services Innovation study recently reported that nearly half of Americans say their expenses are equal to or greater than their income. For those ages 18 to 25, the percentage is over half, up to 54%. In my practice, I see this time and time again with my clients after reviewing their income versus their expenses. The bulk of a client’s income is spent on housing. If your rent or mortgage payment is 50% of your income, there is no possible way to meet the barest of your monthly basics like utilities or groceries. To supplement, many…Read More
As a consumer bankruptcy attorney I frequently find myself advising clients who need bankruptcy relief because they have taken on the burden of not only their own debt but also debt incurred for their adult children. Of all the folks I try to help, this is oftentimes the most heartbreaking client. I know the client has found themselves in financial turmoil because of love for their child and it is hard, but necessary, to advise the parent to stop this behavior in order to find financial solutions. Tough Love Many news articles have been written on this topic of “tough…Read More
Believe it or not, North Alabama has been, at least until very recently, a contender for the nation’s leader in terms of frivolous opioid pain killer prescriptions. Per an earlier plea agreement, on February 7, 2017, Dr. Shelinder Aggarwal, formerly of the Chronic Pain Services clinic in Huntsville, Alabama, was sentenced to 15 years in federal prison for illegally prescribing these drugs and engaging in about $9.5 million in Medicare and other insurance fraud. The sentence also included a fine that was levied against Dr. Aggarwal to the tune of some $6.7 million, in addition to requiring him to reimburse Medicare and Blue Cross Blue…Read More
We are proud to announce that Knoxville attorneys Cindy T. Lawson and Heather Ellis Banks will be volunteering their time and expertise to assist their community. Legal Aid of East Tennessee (LAET), in partnership with the Knoxville Bar Association (KBA) has created a Debt Relief Legal Advice Clinic (DRLAC). The purpose of the clinic is to inform and educate individuals about debt issues, bankruptcy and reasons why someone should or should not file bankruptcy. Debt Relief Legal Advice Clinic The first meeting of the DRLAC will be Saturday, July 29 beginning at 9:30 a.m. The clinic will be held at…Read More
In late June, the Federal Trade Commission (FTC) filed a complaint in federal court in North Carolina against a debt collection company in that state. Allegedly, the debt collection company took money from consumers for fake (so called “phantom”) debts. In other words, for debts that the consumers did not actually owe. According to the FTC, here’s how this scam worked. The debt collection company bought counterfeit payday loans through a debt broker from a third-party lending company. The debt collection company then began collecting on the fake debts from consumers. Complaints started coming in from consumers who complained that…Read More
