President Obama’s Health Care Legislation has a date with the Supreme Court

In March of 2010, President Obama signed into law the Affordable Care Act.  The Affordable Care Act is the highly controversial health care reform law. This Act is said to be one of the signature accomplishments of the President.  Since the Act was signed into law, 26 states have filed suit in federal courts around the nation challenging the constitutionality of the Act.

That big-ticket provision of the Act that is being challenged is the “individual mandate” that requires nearly all Americans to purchase a minimum level of health insurance.  The Supreme Court recently agreed to hear two major questions: 1) whether the “individual mandate” provision is unconstitutional; and 2) whether the entire law must be invalidated due to the centerpiece provision which is the “individual mandate.”

Both advocates and adversaries of the Act have serious concerns regarding the constitutionality of this Act.  The federal government reported that last year approximately 45 million Americans were without health insurance.  As a result of uninsured Americans, the federal government sites $43 billion in uncompensated medical costs.  On the other side of the aisle, arguments have been made that the health care law has not lived up to its promises and actually is creating a substantial burden on small businesses.  Opponents of the Act also contend that the Affordable Care Act unconstitutionally reduces individual freedoms.

The Supreme Court will begin to hear oral arguments in late February or March, and a ruling is expected by June.  The result undoubtedly will influence the political debates in this presidential election year.

 

Source:

Bill Mears, Supreme Court takes up challenge to health care reform law, https://articles.cnn.com/2011-11-14/politics/politics_health-care_1_oral-arguments-health-care-reform-law-affordable-care-act?_s=PM:POLITICS (accessed 11/15/2011)

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The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Nigh shift workers are at greater risk for Type 2 diabetes

In a two decade long study, 177,184 women between the ages of 42 and 67 were followed as part of the Nurse’s Health Study.  One of the remarkable findings of the study was the increased likelihood of developing type-2 diabetes as the result of periodic night shift work.  Nurses who worked periodic night shifts for three years or less were 20% more likely to develop type-2 diabetes than those who only worked days.   Those who worked periodic night shifts for at least 20 years were at even greater risk for developing type-2 diabetes at the rate of 60% more likely than those who only worked days.

Doctor Frank Hu, a professor of nutrition and epidemiology at the Harvard School of Public Health notes that although the increased risk is not huge, it is still substantial enough considering one-fifth of the workforce has some rotating night shift work.  The increased risk is not attributable solely to the hours you work but may result from the side affects that are associated with periodic night shift work.  Doctor Hu contends, “Irregular work hours tend to disrupt the body’s circadian rhythms (also known as the “body clock”), which play a critical role in maintaining healthy blood-sugar metabolism and energy balance.”  This internal clock influences our ability to metabolize certain foods at certain times.  Thus if you go on a late night raid of the refrigerator, the enzymes needed to turn high-fat foods into energy may not be alert enough to handle the barrage, and result in those calories ending up as fat rather than fuel.

David Earnest, Ph.D., states that, “In the past 25 years, we’ve focused a lot on lifestyle issues such as maintaining a healthy diet and avoiding a sedentary lifestyle. But regardless of whether you’re a shift worker or not, that may not be enough to avoid these health issues.”  The study is not conclusive as to how much night shift work affects the risk of type-2 diabetes, but there is considerable evidence that periodic night shift work shows some increased risk of type-2 diabetes.  There are a combination of factors at play including family history, diet, weight, smoking, and exercise.  Now periodic night shift work may be another factor to add to that list.

 

 

Source:

Amanda Gardner, Night shift work may raise diabetes risk, https://www.cnn.com/2011/12/06/health/night-shifts-diabetes-link/index.html?hpt=hp_t2 (accessed 12/8/2011)

Nigh shift workers are at greater risk for Type 2 diabetes

In a two decade long study, 177,184 women between the ages of 42 and 67 were followed as part of the Nurse’s Health Study.  One of the remarkable findings of the study was the increased likelihood of developing type-2 diabetes as the result of periodic night shift work.  Nurses who worked periodic night shifts for three years or less were 20% more likely to develop type-2 diabetes than those who only worked days.   Those who worked periodic night shifts for at least 20 years were at even greater risk for developing type-2 diabetes at the rate of 60% more likely than those who only worked days.

Doctor Frank Hu, a professor of nutrition and epidemiology at the Harvard School of Public Health notes that although the increased risk is not huge, it is still substantial enough considering one-fifth of the workforce has some rotating night shift work.  The increased risk is not attributable solely to the hours you work but may result from the side affects that are associated with periodic night shift work.  Doctor Hu contends, “Irregular work hours tend to disrupt the body’s circadian rhythms (also known as the “body clock”), which play a critical role in maintaining healthy blood-sugar metabolism and energy balance.”  This internal clock influences our ability to metabolize certain foods at certain times.  Thus if you go on a late night raid of the refrigerator, the enzymes needed to turn high-fat foods into energy may not be alert enough to handle the barrage, and result in those calories ending up as fat rather than fuel.

David Earnest, Ph.D., states that, “In the past 25 years, we’ve focused a lot on lifestyle issues such as maintaining a healthy diet and avoiding a sedentary lifestyle. But regardless of whether you’re a shift worker or not, that may not be enough to avoid these health issues.”  The study is not conclusive as to how much night shift work affects the risk of type-2 diabetes, but there is considerable evidence that periodic night shift work shows some increased risk of type-2 diabetes.  There are a combination of factors at play including family history, diet, weight, smoking, and exercise.  Now periodic night shift work may be another factor to add to that list.

 

 

Source:

Amanda Gardner, Night shift work may raise diabetes risk, https://www.cnn.com/2011/12/06/health/night-shifts-diabetes-link/index.html?hpt=hp_t2 (accessed 12/8/2011)

 

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Student Loans may be the “Good” Kind of Debt

Although most people would like to have zero debt compared to much debt, student loan debt may not be as bad as other kinds.  With low interest rates and flexible payment options, Carolyn Bigda from the Chicago Tribune contends that student loans tend to be more forgiving than other types of debt.  However, the primary focus should not be what debt people should get into, but rather, consider saving before paying off loans.

On average 65 percent of students who attend a four-year private college and 56 percent of students who attend public universities end up raking in $28,100 and $22,000 in student loan debt respectively.  A recent graduate may be concerned with paying off that debt as soon as possible.  Doing just that may not be the best idea.  Saving more of your income compared to paying off student loans may be the wiser decision depending on a person’s future goals.  For example, if you would like to buy a home, purchase a car, or take a vacation once in awhile, having savings will help pay for these things without increasing total debt.  If there are no savings available to pay for these goals, financing them is the only other option, which ends up leading to greater debt.

While completely neglecting student loan debt is not an attractive option either, there are ways to save money and pay off that debt.  Private loans may be refinanced, and if the interest rates are still burdensome, targeting private loans first may be advisable.  In the case of federal loans, student loans may be consolidated and interest rates could be reduced as much as .5 percent.  Also new rules announced in October would result in a waiver of any remaining balance if after 20 years of repayment a student loan balance still exists.

Depending on ones circumstances and financial situation, it may be wise to consider saving over paying off student loan debt.  College graduates Philip Taylor and his wife, Teresa did just that.  They held off a bit on paying back their student loans, they saved, and were able to purchase a house, pay off their credit card balances, and start funding a retirement account.  When all was said and done, they had enough saving to pay back a huge chunk of their student loans.

 

Source:

Carolyn Bigda, Consider saving before paying off student loans, https://www.chicagotribune.com/business/yourmoney/sc-cons-1117-started-20111118,0,6457015.story (accessed 11/18/2011)

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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An Increase in Foreclosure Activity is a Good Thing

An Increase in Foreclosure Activity is a Good Thing

It is certainly a very scary time receiving a notice of default and having to go through the process of foreclosure.  There are few things worse than losing one’s home.  However, an increase in foreclosure rates may be a sign that the housing market is on its way to recovery.  As industry analysts put it, “the sooner the inevitable foreclosures get cleared out, the better.”

The Associated Press reports that in the month of October, more U.S. homes entered into the foreclosure process than in previous months.  The Associated Press also reports that there was a monthly increase in the number of U.S. homes scheduled for auction, repossession, and notice of default.  As a result of this increase in the month of October, homes that likely will be lost to foreclosure have reached a seven-month high.  Although these figures sound like terrible news for those struggling to make payments, industry analysts urge the necessity of the foreclosures in order to bring on the revival of the housing market.

It seems as if this housing crisis has been around for quite some time.  Some have contested that government intervention, which has required tedious filing practices on the part of the lenders, is behind this slowed process.  However, RealtyTrac CEO James Saccacio is optimistic that this will change, he remarks, “We’ll eventually see foreclosure processing go up.”

Insider trading data suggests that some already are beginning to feel the revival of the market.  Trading in the real estate and construction markets have lead some to believe that a rebound is not too far off.

 

Source:

Rebecca Lipman, Foreclosures Rising: Are We Nearing the End of the Housing Crisis?

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The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Super Committee fails to reach debt reduction package

Earlier this week, the bipartisan 12-member panel, the so called “super committee,” failed to reach an agreement on the goal of $1.2 trillion in debt reduction.  The final vote originally was set for Wednesday before Thanksgiving, but because the panel did not have a blueprint of a proposed package, the super committee announced on Monday, November 21, 2011, that it was unable to reach a deal.

Automatic budget cuts are scheduled to kick in 2013, and the cuts would slash $1.2 trillion in defense and nondefense spending.  However, programs such as Social Security and programs for low-income people such as Medicaid are exempt from the automatic budget cuts.  Medicare cuts would be limited in the cuts made as well.  Even though the cuts are to kick in 2013, Congress could easily reverse them.

Budget experts have continued to stress the importance of tackling the debt issue in order to get the country back on a sustainable fiscal track.  Some of those experts said, “Congress needed to ‘go big’ on a deal that tackles the big drivers of future debt — entitlements and health care.”  They contend this big deal would have to be some kind of bargain reaching $3 to $4 trillion over ten years.  The super committee’s failed attempt was a shot at $1.2 trillion and was nowhere near the level of debt reduction demanded by experts.

 

 

Source:

Charles Riley, Super committee: What’s next, https://money.cnn.com/2011/11/21/news/economy/super_committee_failure/index.htm?iid=HP_Highlight (accessed 11/23/2011)

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Consumer Spending and U.S. incomes up slightly

The Commerce Department reported Wednesday that consumer expenditures rose by a nominal .1% in October, which is down slightly from a .7% increase in consumer spending that we saw in September.  Meanwhile, U.S. incomes rose a bit, up .4% in October compared to a .1% increase in September.  However, despite these lack luster figures, there is room for optimism in the retail market, which is predicting an increase in spending of 2.8% compared to the 2010 holiday shopping season.

This week’s jobless claims rose by 2,000, to a seasonably adjusted 393,000.  The increase by 2,000 was the trend breaker of three previous consecutive weeks of jobless claims decline.  However, the Labor Department is not alarmed by this shift and does not find it unusual.  The four-week moving average of new jobless claims, which is a more reliable indictor because it handles the issue of unusually volatile weeks, actually is decreasing by 3,250.  Economists generally contend that jobless claims must stay below 400,000 in order to see any real market recovery.  Although, jobless figures are hovering only slightly below that mark, it is still positive to note that those figures are slightly below rather than slightly above the 400,000 mark.

Reports also have shown a decrease in purchases of durable goods.  Durable goods are products that are designed not to wear out quickly and are to be used over time, rather than consumed immediately.  Notable durable goods are products such as cars, jewelry, phones, refrigerators, and furniture.  Nondurable goods are products such as food, fuel, shoes, and paper.  The figure for durable goods is down .7%.  However, this estimate slightly is misleading because a substantial portion of the .7% decrease can be attributed to a large decline in purchases of commercial airplanes, which is down 16.4%.  Several other durable good sectors actually have reported gains, such as a 6.2% rise in orders for motor vehicles and parts.

 

Source:

Eric Morath and Tom Barkley, Spending Slowed in October, https://online.wsj.com/article/SB10001424052970204630904577055931450123646.html (accessed 11/23/2011)

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The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Credit Cards After Bankruptcy?

Many individuals when filing a bankruptcy want to know if it is possible to simply leave a creditor out of the bankruptcy.  It is not. The law is very clear that all creditors must be included when filing a bankruptcy. It is often possible to essentially remove a secured creditor from a bankruptcy by signing a reaffirmation agreement. However, signing a reaffirmation agreement on a credit card is unwise and typically will not be approved.  All reaffirmation agreements must be approved by the judge in the case. It is extremely unlikely that any judge would approve a reaffirmation agreement for a credit card and very few attorneys would ever recommend reaffirming such a debt.

Once a person has finished a bankruptcy, it is not particularly difficult to get a new credit card.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Changes In Circumstances In a 13

When filing a Chapter 13 Bankruptcy, many individuals are very concerned about what will happen if there is a change in their income. A Chapter 13 is a repayment plan that is largely based upon a debtor’s income and expenses. In some cases the payment is based on tax debt or mortgage arrears. The payments vary considerable on a case to case basis.

If a person files a Chapter 13 and there is a significant change in circumstances, it is possible in most cases to go back to the court and ask for a reduction in the payments. It is also possible in some cases to ask that the case be changed from a Chapter 13 into a Chapter 7 liquidation which does not involve repaying the creditors.

When a person enters into a Chapter 13, it is important that they stay in contact with the attorney who represents him or her.  Oftentimes problems can be addressed in the Chapter 13, if the attorney is informed.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Is student loan dischargeable in a Chapter 13?

Student loans are typically non-dischargeable in either a Chapter 13 Bankruptcy or in a Chapter 7 Bankruptcy. (In some instances, an individual can have his/her student loans discharged in a bankruptcy if the individual can show the student loans present an undue hardship. The standard for this is very high and very few individuals are able to successfully show this.)

A Chapter 13 is essentially a repayment plan where the individuals pay back their creditors based upon their income. Some people will pay the creditors 1% of what is owed to them and some will pay back 100%. The amount paid back will depend on a person’s individual circumstances. If a person owes student loans in a Chapter 13, the student loans will survive the bankruptcy and essentially be waiting for the debtor at the completion of the Chapter 13.

While the individual is in a bankruptcy, the student loan company will be treated like any other unsecured creditor if it is put into the plan. The student will only get a portion of the Chapter 13 payment if they get anything at all. The debtor will still owe the student loan company whatever has not been paid upon the completion of the bankruptcy.

If a student loan is considered long-term debt, meaning that the individual will be paying on the student loan for longer than the duration of the Chapter 13 plan even if the individual were making full payment to the student loan company, then it is permissible to allow the debtor to continue to pay the student loan company directly while the person is in the Chapter 13. In many cases, this will be a benefit to the debtor because the student loan company will be paid more during the Chapter 13 plan and the debtor will therefore owe them less when the Chapter 13 plan is completed.

Student loans are typically non-dischargeable in either a Chapter 13 Bankruptcy or in a Chapter 7 Bankruptcy. (In some instances, an individual can have his/her student loans discharged in a bankruptcy if the individual can show the student loans present an undue hardship. The standard for this is very high and very few individuals are able to successfully show this.)

A Chapter 13 is essentially a repayment plan where the individuals pay back their creditors based upon their income. Some people will pay the creditors 1% of what is owed to them and some will pay back 100%. The amount paid back will depend on a person’s individual circumstances. If a person owes student loans in a Chapter 13, the student loans will survive the bankruptcy and essentially be waiting for the debtor at the completion of the Chapter 13.

While the individual is in a bankruptcy, the student loan company will be treated like any other unsecured creditor if it is put into the plan. The student will only get a portion of the Chapter 13 payment if they get anything at all. The debtor will still owe the student loan company whatever has not been paid upon the completion of the bankruptcy.

If a student loan is considered long-term debt, meaning that the individual will be paying on the student loan for longer than the duration of the Chapter 13 plan even if the individual were making full payment to the student loan company, then it is permissible to allow the debtor to continue to pay the student loan company directly while the person is in the Chapter 13. In many cases, this will be a benefit to the debtor because the student loan company will be paid more during the Chapter 13 plan and the debtor will therefore owe them less when the Chapter 13 plan is completed.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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6 Questions to Ask before you Hire a Social Security Disability Lawyer

Roseville, MN.  Finding a good lawyer for your Social Security Disability and SSI claim can be difficult.  Promises on the Internet and TV ads are seemingly endless.  Finding a good lawyer, however, is important.  How can you do it?

I wrote a HoglundLaw blog last year about how to choose a lawyer for your Social Security claim.  Clarity is in order.  A good Social Security lawyer can correctly answer these 6 questions below correctly.  Before you hire a lawyer, print this out and ask these questions.  Can your potential Social Security Disability lawyer pass this test?

  1. Ask:  “Are you a licensed attorney?”  If you want representation from a lawyer who has gone to law school and can practice law, this will cut to the chase.  This is a yes or no question.
  2. Ask:  “How many hearings do you average a week?”  For most lawyers, an average of 2 or more Social Security hearings per week says a lot about their current experience and client base.
  3. Ask:  “Do you ever get into arguments with Social Security staff or judges?”  If your prospective lawyer brags about “scuffles” with Social Security, decide if he or she burns bridges.  If you smell smoke, get out!  You don’t want to be lugging around your lawyer’s baggage.  You want a persuasive lawyer.  Leave attack dogs at home.
  4. Ask:  “What do you argue other than medical evidence at Social Security hearings?”  Listen to the answer.  A good Social Security lawyer can explain how he or she will make you a real person for the judge at your hearing, not just a list of diagnoses.
  5. Ask:  “What is your win rate?”  This is a trick question.  Bad lawyers brag and induce you to hire them with a “success” rate.  Legal promises like this are unethical.  And there is another problem.  How do you think a lawyer gets a high win rate?  Cherry-picking.  Do you want to get dumped before your hearing to preserve the win rate?  A good lawyer, on the other hand, will candidly evaluate your case but not promise your result.  You want a lawyer who will stay the course.
  6. (I saved the best question for last.)  Ask:  “What do other local Social Security lawyers think about you?”  Then ask, “Can I call one that doesn’t work with you?”  A good lawyer will smile and hand you a card with a local name and a phone number.  A bad lawyer will try to explain his or her reputation.  If you might be talking with a bad lawyer, you might want to hire the new one on the card.  Good lawyers invite you to compare.

Find a good Social Security Disability lawyer.  If you have questions for our lawyers, call Hoglund Law Offices for a free consultation.

Andrew Kinney, Esq.

Attorney Andrew Kinney
Hoglund Lawyer Andrew Kinney

About the Author:  Attorney Andrew Kinney began practicing in the area of Social Security Disability Law in 1992.  He works at Hoglund Law Offices, a multi-state law firm listed in the top 100 largest law firms in Minnesota in 2010 by Lawyers Weekly.  He speaks locally and nationally, most recently on vocational expert cross-examination at a national conference in San Antonio.  He is currently a Chair of the Social Security Disability Law Section of the Minnesota State Bar Association.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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What happens when one signs up for credit counseling?

The typical credit counseling program is a repayment plan to unsecured creditors. Essentially, what a credit counselor does is negotiate a repayment plan with creditors. The plan will usually allow the debtor to pay less in interest to the creditors. Credit counseling will typically not provide for a reduction in the principle amount owed. The typical credit counseling plan lasts for five years. The payment is based upon the amount of debt owed to the creditors and the fees of the credit counseling agency.

There are a number of pitfalls involved in choosing credit counseling as an option to dealing with debt. The first issue involves the payment. Because the principle owed to the creditor is not reduced, the payments are often simply not affordable for many debtors. Also the payments are not flexible, if a person participating in a credit counseling program has a loss in income, the credit counseling payment remains the same. If a person can not make the payment, the person will be removed from the plan.

Another issue which frequently reeks havoc with credit counseling plans is that if all creditors do not agree to the plan, then those who do not agree are not bound to the plan and are free to continue to attempt to collect on the debt owed to them. For example, if one creditor holds out and is not being paid through the plan, that creditor could sue the debtor and then garnish the debtor’s wages which may make it impossible for the debtor to continue on with the credit counseling plan. It is not uncommon for a creditor to refuse to participate in a credit counseling plan especially if the creditor already has obtained a judgment against the debtor or if the debt has already been turned over to a collection agency.

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The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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The United State’s 18 Largest Banks are In Trouble Again

The Federal Housing Finance Agency is bringing suit against the United State’s 18 largest banks.  This suit stems from the banks sale of $200 billion in toxic mortgage-backed securities to Fannie Mae and Freddie Mac.  The FHFA claims that the banks overstated the value of the mortgaged homes and the number of the homes that were owner-occupied.  Defendants in this case include notable financial giants such as: Bank of America, J.P. Morgan Chase, and Goldman Sachs.

The media has been reporting that the suit is valued upwards of $200 billion; however, the FHFA contests this figure and suggests that the suit seeks only the actual loss in value of the securities, which would result in a more modest figure of $40 billion.  Despite this discrepancy in value, this suit is among many other legal burdens that these banks face.  Attorney generals from all 50 states have sought in total $20 billion in redress resulting from the alleged foreclosure-related abuses.

Legal experts weighing in on this case note that Fannie and Freddie’s actual losses may not be sourced from the banks misstatements but rather from a change in market conditions.  One expert went on to say that if the banks successfully can argue that the losses were due not from misrepresentations but from the burst of the housing bubble, they should have a good chance at winning the case.

 

Source:

Roger Parloff, Uncle Sam’s new crusade against banks, https://finance.fortune.cnn.com/2011/11/08/fannie-freddie-lawsuit-banks/?iid=HP_River (accessed November 8, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Think Twice Before Choosing a College Major

The weak economy and high unemployment rate is a great burden, and people are searching for answers.  During this weak economy, many are choosing to go back to school, ride out the market, and add a few more degrees to their resume.  However, despite having a higher level of education, the joblessness rate for people with a college degree or higher is at 4.4%.

Whether you are deciding to move into a new line of work or just bolster your resume, there are certain majors that will put you in the fast lane for a job right after graduation.  The Wall Street Journal found that six fields of study have an unemployment rate of zero percent.  Actuarial Science, Astronomy and Astrophysics, Educational Administration and Supervision, Geological and Geophysical Engineering, Pharmacology, and School Student Counseling all boast a 100 percent employment rate.  Other notable majors that pride themselves in low unemployment rates are Agricultural Economics, Teacher Education, and Nursing.

Majors that hold high unemployment rates include: Clinical Psychology, United States History, and Library Science.  The aforementioned majors have an unemployment rate of 15% or greater.

The study also examined median earnings and popularity of majors.  Business Management and Administration topped the popularity list, while Petroleum Engineering came in first in the median earnings category with $127,000.

 

 

Sources:

Liz Goodwin, The 10 college majors with the lowest unemployment rates, https://news.yahoo.com/blogs/lookout/10-college-majors-lowest-unemployment-rates-163049193.html (accessed 11/9/2011)

 

The Wall Street Journal, From College Major to Career, https://graphicsweb.wsj.com/documents/NILF1111/#term= (accessed 11/9/2011)

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The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Younger Generations Worse Off Than Older Generations

Over the history of the United States there has been a general trend of increased wealth with each passing generation.  However, analysis by the Pew Research Center points to the exact opposite.  The older generations have been able to amass more wealth over time relative to the younger generations.  Despite the obvious ability to collect more wealth by living longer, households in 1984 headed by people 35 years and younger had a median net worth of $7,859 greater than households headed by people 35 years and younger in 2009.  Today, the wealth gap between households headed by people age 65 and older and households headed by people age 35 and younger has never been wider.  In 1984 the 65 year old age group had a median net worth 10 times greater than the 35 year old age group. Today the 65 year old age group holds a median net worth 47 times greater than the 35 year old age group.

Besides a weak economy, there are several other likely culprits to this increasing net worth gap.  For instance, today’s individuals are starting their independent lives later and putting home ownership off longer.  The increased cost of attending college also has aided in this change; younger generations are attending college in greater numbers compared to the older generations.

The Pew Research Center attributes the largest factor in the increased wealth gap to the housing market.  The report said, “While rising home equity helped drive wealth gains for the older generation over the long-term, younger people had less time to ride out the housing market’s volatility — especially its most recent boom and bust.”  Whatever the reason for the increased net worth gap, one thing is certain, the younger generation is not better off financially than their parents and grandparents.

 

Source:

Annalyn Censky, Older Americans are 47 times richer than young, https://money.cnn.com/2011/11/07/news/economy/wealth_gap_age/index.htm?iid=HP_River (accessed November 8, 2011)

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Foreclosure Sales Down, but Will Likely Increase Later in 2011

During the second quarter of 2011, almost one third of all home sales were foreclosures. According to RealtyTrac Inc., foreclosure sales made up 31% of home sales during April through June 2011. A foreclosure sale occurs when a home is purchased after the owner receives a notice of default or when a home is repossessed. The second quarter foreclosure sales represent a decrease from the foreclosures during the first quarter of this year. However, the figure is six times the percentage of foreclosures that is considered healthy for the housing market. Overall, 265,087 homes that were in foreclosure were sold during the second quarter.

The percentage of foreclosure sales would have been larger without a federal and state investigation into the foreclosure process. An investigation has been launched because of defective foreclosure paperwork kept by banks and mortgage servicers. The investigation has caused foreclosures to be delayed and foreclosures will likely increase when the investigation is complete.

Nevada had the highest foreclosure percentage, with foreclosures making up 65% of all home sales. Arizona and California followed, with foreclosures accounting for 57% and 51% of home sales. Michigan, Colorado, Florida, Illinois, and Oregon also had foreclosure sales that made up at least one third of home sales.

 

 

Source:

Associated Press, Foreclosures Likely to Surge Again This Year, https://realestate.aol.com/blog/2011/08/25/foreclosures-likely-to-surge-again-this-year/ (accessed August 25, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Parents Less Willing to go into Debt to Pay for College

Fewer American parents are willing to go into debt to finance their children’s education. According to a report prepared by Sallie Mae, 51% of parents “strongly agreed that they would stretch financially to send their children to college.” This represents a 13% decrease from the 64% of parents who felt the same last year. Approximately 51% of parents also said they would go into debt to pay for their children’s tuition, down from 59% last year. Since Sallie Mae began the survey in 2007, this is the first time those figures have fallen.

The survey could indicate that parents are beginning to change how they feel about sending their children to college. For many years American parents have had the ambition to send their children to college, not matter the cost. One reason for the change could be that the cost of college has greatly increased. The average cost for attending a private university has increased 70% in the last ten years, and the average cost for attending a public university has increased fourfold since 1991.

The change in attitudes can also be attributed to the poor economy and the impact the downturn has had on families. Many parents have lost jobs, housing prices have fallen, and investments have suffered losses. There has also been an increase in students who graduate in fewer semesters and students who live at home while attending college.

 

 

Source:

Annamaria Andriotis, Sorry, Junior: Parents Pull Back on College Spending, https://www.smartmoney.com/spend/family-money/sorry-junior-parents-pull-back-on-college-spending-1314559509454/?link=SM_hp_borrow (accessed September 6, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Late Mortgage Payments Increase

According to the Mortgage Bankers Association, the number of borrowers who were late on their mortgage payments rose to 12.87% in the second quarter of 2011. Prior to the second quarter of this year, the number of homeowners who were delinquent on their mortgage payments had been decreasing for over a year.

The 12.87% refers to mortgages that were at least 30 days overdue or in the foreclosure process. The second quarter figure represents a decrease from the 14.4% in the second quarter of 2010, but a slight increase from the 12.84% at the end of the first quarter of this year. The figure corresponds to 6.3 million homeowners who are behind on their mortgages.

The actual foreclosure rate is near its lowest in four years. However, this is largely due to government assistance programs and an investigation into foreclosure documents that has caused lenders to delay foreclosing. The increase in late mortgage payments illustrates how the rise in unemployment can affect the struggling housing market.

 

 

Source:

Maggie Shader, Delinquent Mortgage Payments on the Rise (accessed August 25, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Pitfalls Of Debt Negotiation

When a person is in financial trouble, one way of dealing with creditors is negotiating a settlement where the debtor pays a lump sum to the creditor. Typically a debtor will offer a small percentage of what is owed to the creditor and the creditor will then accept the settlement and forgive the debtor for any remaining balance.

There are a few drawbacks to this approach. The first is that debt negation can have tax consequences that the debtor is unaware of. The amount of the forgiven debt is often considered taxable income. For example, if a debtor settles a $10,000 debt for $4,000, then the debtor may have to pay taxes on the remaining $6,000 balance. Typically the debtor will receive a 1099 from the creditor at the end of the year. And the forgiven debt will be treated as income by the Internal Revenue Service.

The next most obvious drawback is that the debtor must actually have a lump sum of money available to pay the creditor. Most people in financial trouble do not have these funds available. To obtain these funds, many debtors will cash out retirement accounts. This will cause the debtor even worse tax issues. If the money is in, for example, a in a tax protected account, the debtor will have to pay taxes on the funds when they are removed from the account and then will again be taxed on the difference between the settled amount and the debt which was owed. In addition, the debtor will also have depleted his/her retirement account which can raise issues for the debtor when retirement rolls around.  Not only will the debtor have less money in the account, but he/she will miss out on the interest which would have accumulated from the removed funds.

Another way that debtors acquire the funds to settle the debt is saving up. The problem with this is that creditors will typically only grant settlement to delinquent borrowers. That means that the debtor would need to stop making payments in order to get the settlement. However when one stops making payments on a credit card for example, the credit card will likely raise the interest rate to nearly 30% and then tack on countless fees and late charges. A balance of $500 can quickly grow to twice its original size. When the debt is finally settled, the debtor might be paying half of the debt, but the whole of the debt will be more than the person owed to begin with.

Not making the payments can also result in the creditor pursuing legal action against the debtor. The creditor can sue the debtor and obtain a judgment against them and then start garnishing the debtor’s wages or levying their bank accounts making it all the more impossible for the debtor to ever come up with enough funds to settle the debt. A person who has hired a debt negotiation company is still vulnerable to these collection efforts.

Another issue which debtors often run into is that they do not obtain the proper paperwork from the creditor to prove that the debt has been settled and the debtors later find themselves dealing with a collection agency attempting to collect on the debt which was already settled. Creditors will often sell bad debt in bulk to collection agencies for pennies on the dollar. The collection agency then attempts to collect on the debt. If they are unable to get any funds, they in turn sell it to a new collection agency and then that collection agency attempts to collect on the debt. If the debtor who settled the original debt does not have the proper documents to prove that the debt was settled, the debtor will have a difficult time dealing with the subsequent collection agencies.

Another problem with debt negotiation is debt negotiation companies themselves. These companies often have a debtor pay them a monthly payment which they then hold in escrow awaiting enough funds to effectively negotiate a settlement. Many of these companies will assign most of the initial payments to their fees.

Some of these companies fail to disclose that they cannot protect an individual from collection activity while the individual is attempting to save money for a settlement. Many debtors are caught by surprise when their wages are garnished because they believed they were offered some type of protection by the debt negotiation company.

In some circumstances, debt negation can be a real benefit to a debtor. However, the pitfalls are many and need to be heeded and weighed before choosing this route to deal with financial difficulties.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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HOGLUND LAW CLIENT GETS SOCIAL SECURITY HEARING – WITH OBAMA’S HELP

Obama Speaks to Hoglund Law Client

Roseville, MN – After working and paying into Social Security for more than 30 years, Lois Dare had a curious cough.  Was it pneumonia?  She got a chest x-ray.  Later that day, her doctor’s office called her at home.  “You need to come in.”  The diagnosis?  Life-threatening lung cancer.  Parts of her left lung had to be removed.

Profoundly grateful to her doctors, her family, and her pastor to have survived her invasive surgery, she now needs oxygen to get through the day and night.  Without a job, and facing two denials for Social Security disability benefits, most people in this situation would feel sick and helpless.  Not Lois.

Her story to get her Social Security hearing would span the world from her town in Minnesota all the way to China.  In an era of disconnected politicians and short attention spans, she would gain the heart and the attention of the Minnesota Governor, the offices of the U.S. Congress, the U.S. Senate, and the President of the United States.

What is it about this remarkable woman that she can get so much done with so little energy?  To describe Lois, “empowered” is an understatement.  She’s very engaging, but had no political connections.  “Persistent” is inadequate, because she’s been chronically tired.  “Opportunistic”?  She’s had few opportunities since getting sick.  “Focused”?  Yes.  For Lois, the cancer bypassed her most generous organ:  Her heart.  And where her heart is, she goes.

Lois was at her girlfriend’s house a few weeks ago when she heard President Obama was coming through Minnesota to Cannon Falls on August 15, a few days later.  “I’ve got to talk to him,” Lois told her.  Impossible, thought her girlfriend.  Not for Lois.

She got back to her house.  “Fill up the gas tank,” she told her husband.

“What about your oxygen?” he worried.

“Just pack the batteries!”

So began the odyssey to talk with the President of the United States.

She lived out of her car for two days.  She stood in line for 11½ hours for tickets to hear the President speak.  She underwent security checks.  After satisfying all the initial requirements, Lois was one of 122 ticket holders who could hear the President speak close up.  But there was a problem.  More security checks were two football fields away.  She couldn’t make it with her oxygen in tow.  Was this the end of her chance to talk with the President of the United States?  Not for Lois.

She saw a car drive up.  She went over and leaned in toward the window.  “Could I have a ride?  I can’t make this walk and I want to see the President.”

“Get in,” said a friendly voice inside.  This is how Lois hitch-hiked a ride to meet the President of the United States.  Once at the new Secret Service check-points, the driver flashed a card and brought her through them.  She learned she was riding with the President’s press secretary.  “I wish I had a daughter,” she told him.  “If I did, I would have her meet a nice man like you.”  He laughed, hard.

Once out of the car, she secured a place right in front of the President’s dais.

After his speech, the President took a few questions from the audience.  Lois raised her hand, but couldn’t raise it too high.  He still called on her.

Lois asked the President what people are supposed to do when they are sick while waiting for Social Security benefits.  Lois was speaking for herself, but also for others like her.

The President answered her, agreeing with Lois that those who have become unable to work should be able to rely on Social Security benefits, especially since they have paid for them throughout their lifetime.

After leaving the podium, President Obama hugged Lois.  Close up, he told her she reminded him of his mother, who died of cancer.  “Whatever else he said to me, I don’t know.”  She was overwhelmed.

President Obama instructed his staff to get her contact information.  Then came the deluge.  Lois soon received calls from the offices of Rep. Michele Bachmann, Sen. Amy Klobuchar, and Minnesota Gov. Mark Dayton.  The Associated Press called.  Even a Chinese correspondent wanted to interview her, without a translator.

She got her Social Security disability hearing scheduled in September.  Then Lois and I went to argue her claim.

 

Social Security disability hearings take time for Social Security to schedule, and the backlog of pending claims is increasing across the country.  Some states encourage programs that can clog the system with applications.  At the hearing level, attorneys can write legal briefs for an approval without a hearing.  In Lois’ case, however, her attorneys tried an “on-the-record” request for approval.

“Not all cases, despite your best efforts, can avoid a hearing,” says Tracy Bishop, a Hoglund attorney involved in Lois’ case.  “Sometimes the hearing is necessary to make the process human.”

Lois’ story is about gratitude.  Lois wants no one to take health for granted.  “I’m grateful to be alive, to be here on this Earth…I would rather have the aches and pains than to not be on this Earth.”

Lois’ story is about survival.  She will continue following up with her cancer doctor.

Lois’ story is also about resilience that rejects dependence.  “I needed somebody to hear me.  I did what I had to do.”  The message she lives is simple and profound:  When all seems lost, help yourself by reaching out to others.

 

For a video clip on the President’s appearance with Lois, click here:  https://www.youtube.com/watch?v=ZOZji2w-i30

Andrew Kinney, Esq.

9/28/11

HoglundLaw.com

akinney@hoglundlaw.com

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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U.S. Postal Service Close to Bankruptcy

The U.S. Postal Service has been struggling financially. Patrick R. Donahoe, the postmaster general, has stated that if Congress does not take action the agency will not be able to make a $5.5 billion payment this month and may be forced to shut down this winter. Recently, the Postal Service has proposed cuts to eliminate a deficit that will rise to $9.2 billion this year. The proposed cuts include ending Saturday delivery, closing 3,700 locations, and laying off 120,000 employees.

The financial problems can be attributed to lower revenue and increasing costs for the Postal Service. Fewer people and businesses are utilizing post office services, largely because of increased Internet usage. Additionally, the Postal Service has contractual obligations to its employees, including no-layoff provisions, which have resulted in increased costs. Labor costs account for 80% of the Postal Service’s expenses, compared to 53% at UPS and 32% at FedEx. Postal Service employees also receive better health benefits than other government employees.

The Senate Homeland Security and Governmental Affairs Committees will consider the Postal Service’s situation this week. Democrats and Republicans have been unable to reach an agreement on a solution. If the Postal Service does miss the $5.5 billion payment due at the end of September, an emergency will not immediately occur. However, in early 2012, the Postal Service will be unable to pay for its operations and will have to shut down.

 

 

Source:

Steven Greenhouse, Postal Service on Verge of Going Broke, Shutting Down, https://www.msnbc.msn.com/id/44396682/ns/business-us_business/#.TmUMDzuF4ro (accessed September 5, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Information About Credit Scores

According to data from Credit Karma, the average credit score in the United States is 666. The current trend for lenders is that a credit score of 660 is needed to obtain a mortgage, car loan, or credit card. Approximately 40% of Americans have a credit score lower than 660. This means four out of ten consumers will likely be denied credit or pay high interest rates. This illustrates the importance of credit scores. New federal regulations have increased consumers’ access to their credit scores. However, many think the new regulations do not go far enough. Here are a few things to know about credit scores.

  1. You may have the right to see your credit score for free. If you are denied credit or are forced to pay higher interest rates because of your credit report, you are entitled to see your credit report for free. However, this regulation does not apply to all consumers, only to those who are denied or given high interest rates.
  2. The threshold for obtaining credit is always changing. Previously, a credit score of 660 was considered a good score. During the recession, a score of 720 or 750 became the new standard. Lenders also focus on credit history and other credit details when deciding whether to lend.
  3. Track your credit score. Credit scores change, so it is not enough to just check your score once. Monitor your credit score to see how decisions affect your score and identify areas where you can improve your score.
  4. Do not be surprised if your credit score varies. There are many different credit score models used by lenders. Focus on risk factors, such as amount of debt, number of accounts, and credit use, because improvement in risk factors will likely improve your score no matter what model is used.

 

 

Source:

Justine Rivero, 4 Things to Know About Credit Scores, https://money.msn.com/credit-rating/4-things-to-know-about-credit-scores-forbes.aspx (accessed August 24, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Americans Are Reducing Credit Card Debt

According to TransUnion, a credit bureau, consumer credit card debt in the U.S. has decreased to $4,699 per borrower. This represents a 5% decrease since the second quarter of 2010, and is near a 10 year low. The decrease is considered positive news for the struggling economy. Additionally, the number of borrowers who were at least 90 days late with their credit card payments decreased 0.6% over the same period. This represents a 17 year low.

The decrease in credit card debt can be attributed to both lenders and borrowers. Lenders have decreased debt by writing off debt that has become uncollectible, closing bad accounts, and reducing credit offered to risky borrowers. Consumers have also been responsible for decreasing credit card debt by making their payments. From the first quarter of 2009 to the first quarter of 2010, Americans made $72 billion more in payments on their credit cards than purchases. That is comparable to $86.6 billion in write offs by lenders.

DailyFinance.com offers five tips to get out of credit card debt. First, track your income and spending. It is important to make a budget for 30 or 60 days to find money you can use to pay off your debt. Second, keep track of the details. Use online calculators to find out how much an extra few hundred dollars in payment will make. If you come in under budget for the month use the extra money to pay off debt. Third, contact your lenders to see if they will reduce your interest rate. Fourth, start with the highest interest rate card and pay off your debt in order of interest rate. Finally, when you get out of debt put the money used to make payments in a savings account. You should save enough money to cover three months of expenses, so an emergency does not put you back into debt.

 

 

Source:

Laura Rowley, U.S. Consumers Pay Down Their Credit Card Debts, https://www.dailyfinance.com/2011/08/17/u-s-credit-card-debt-declines/ (accessed August 24, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Is the Social Security Disability Program Facing Insolvency?

Is the Social Security Disability Program Facing Insolvency?

Over the past few years, Social Security’s disability program has seen an increase in applications, largely due to the loss of almost 7 million jobs in the economy. Applications for Social Security generally increase when the economy is bad, because many disabled people lose their jobs and are unable to find work. In 2011, Social Security is expecting 3.3 million applicants for disability benefits. The number of applications has increased 50% in the last ten years. The increased number of applicants has added to Social Security’s backlog of cases, and many applicants wait at least two years before their case is decided.

New estimates predict that the Social Security disability trust fund will be depleted by 2017. This means the disability program will not be able to pay beneficiaries their full benefits in 2017, unless Congress takes action. Social Security trustees are recommending that Congress reallocate money from the Social Security retirement program to the disability program. However, diverting money from the retirement program would only be a short-term solution and would hurt the retirement program.

Congress will likely have to make improvements to the Social Security disability program. Lawmakers are particularly concerned about overpayments. In 2010, Social Security disability beneficiaries received $1.4 billion in overpayments. Most of these payments went to people who started working and should not have qualified for the payments. Under the debt reduction plan that became law in early August, Congress can increase Social Security’s budget by $4 billion over the next ten years. The increased budget will provide resources for Social Security to identify beneficiaries who no longer qualify for benefits. Congress is also concerned about the lengthy application process for legitimately disabled applicants.

Source:

Stephen Ohlemacher, Social Security Disability on Verge of Insolvency, https://m.apnews.mobi/ap/db_6776/contentdetail.htm?contentguid=pDMRHiaX (accessed August 23, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Consumer Bankruptcies Decrease in July

Consumer Bankruptcies Decrease in July

According to the American Bankruptcy Institute, consumer bankruptcy filings in July were down 18% from July 2010. Nationally, 113,470 consumer bankruptcies were filed in July of this year. In July 2010, 137,698 consumer bankruptcies were filed. The decrease in July continues the downward trend in bankruptcy filings in 2011. The number of filings in July represents the seventh straight month in which bankruptcy filings were lower than 2010 filings.  July consumer bankruptcy filings were also down 5% from the number filed in June of this year.

Samuel J. Gerdano, the Executive Director of the American Bankruptcy Institute, has said that “the continued decline in consumer bankruptcies in tandem with a sluggish economy is a reflection of the deleveraging of household debts and tightening of consumer credit over the past year.” Total consumer bankruptcy filings for 2011 are expected to be lower than the number filed in 2010.

 

Source:

July Consumer Bankruptcy Filings Fall 18 Percent From Last Year, https://www.abiworld.org/AM/Template.cfm?Section=Home&CONTENTID=64221&TEMPLATE=/CM/ContentDisplay.cfm (accessed August 9, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Burt Reynolds Facing Foreclosure

Burt Reynolds Facing Foreclosure

Merrill Lynch Credit Corporation has sued Burt Reynolds over his Florida home. According to the lawsuit, the 75-year-old actor is behind $1.2 million on the mortgage for his home in Hobe Sound, Florida. Reynolds has not made a payment on the home since September 2010. BankAtlantic holds a second mortgage of $750,000 on the home and was also named in the lawsuit. Reynolds’ Florida home is 12,500 square feet and is valued at $2.4 million. The actor attempted to sell the home in 2009, listing the property at $8.9 million. However, a poor housing market and high asking price made it difficult to sell the home.

The foreclosure suit is not the first time Reynolds has faced financial difficulty. In the 1990s, Reynolds filed for Chapter 11 bankruptcy after a divorce and poor career and investment choices. Reynolds also owns a home in Little Rock, Arkansas. He is currently filming a made for TV movie.

 

Source:

Tim Kenneally, Burt Reynolds Slapped with Foreclosure Lawsuit over Florida Home, https://movies.msn.com/movies/article.aspx?news=664577&GT1=28101 (accessed August 18, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Consequences Of Not Paying Credit Card Bills

Consequences Of Not Paying Credit Card Bills

  • Cardholders can contact the credit card company first if they know they will be late making payments. Companies are more likely to work out a payment plan if contacted by the cardholder. Additionally, cardholders should not ignore calls from creditors. It is a good idea to explain the situation and negotiate a payment plan.
  • 60 days delinquent: Credit card companies will pass the account to a collections department. Collection will become more aggressive and the lender will report the delinquency to a credit reporting company, if they have not already done so. Cardholder will likely have to pay a penalty, but may still be able to negotiate a payment plan.
  • 90 days delinquent: Credit card company will likely close the account and become even more aggressive in pursuing collection. Late fees and interest will accumulate. Cardholder can agree to a payment plan to restore the account.
  • Charge-off status: Credit card company will write the debt off as uncollectible, report status to credit reporting company, and may sell the account to a debt collector. Cardholder can negotiate a payment plan or settlement. If possible, it may be more beneficial to negotiate with original creditor. The settlement should be in writing and settle the account in full.
  • Court: The credit card company or debt collector can sue to collect the debt. If they win, a judgment could allow them to garnish wages or seize assets to cover the debt. Cardholders should appear in court if sued, otherwise the creditor will win by default.

 

 

Source:

Janna Herron, What If You Stop Paying Your Credit Cards?, https://today.msnbc.msn.com/id/43690720/ns/today-money/ (accessed July 31, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Payday Loans Dangerous For Borrowers

Payday loans are short-term loans offered by lenders as an advance on the borrower’s paycheck. Payday loan lenders are located in stores and online. Generally, it is a good idea to take out a payday loan only if it can be paid back immediately. Payday loans are one of the most expensive types of credit. The loans carry high interest rates, and interest adds up quickly if payment is not made on time. It is not uncommon for borrowers of payday loans to pay 700 or 800% interest. Payday loans are usually easy to get. The money usually is transferred in a few hours, and borrowers only need a paystub to prove they are employed. In most circumstances, payday loans are dischargeable in bankruptcy.

Payday loans often are targeted to people who cannot afford them. Additionally, most lenders do not sufficiently disclose the interest rates and other costs. Borrowers who apply for online payday loans have to be careful to avoid enrolling in additional programs. Online applications often include opportunities to sign up for unrelated programs, such as travel, phone, or Internet plans. A borrower can easily become enrolled in these programs and will be charged every month. Regulation of payday loans varies from state to state. The predatory behavior by lenders has caused many to question the existence of payday loans.

 

 

Source:

Sheryl Nance-Nash, How Online Payday Loans Can Get You in Trouble, https://www.dailyfinance.com/2011/08/10/how-online-payday-loans-can-get-you-in-trouble/ (accessed August 14, 2011).

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Past Relevant Work


Video Transcription:

Hi, my name is Andrew Kinney.  I’m an attorney at Hoglund Law offices.  I practice Social Security Disability Law.  Today I wanted to talk about past relevant work.

It’s a phrase that Social Security uses a lot. It means the work you used to do within the last 15 years.  Why is past relevant work important to your case?  Well, when social security makes decisions about disability insurance and supplemental security income they go through a process.  They decide first if someone is currently working, it’s called SJ issues.  Then they look to what medical problems affect work in a basic way.  It’s called a severities step. The third step is deciding if the individual meets or equals any sort of definition or listing of disability.  The fourth step finally is can you return to you past relevant work; what you used to do?  And they have definitions of what you used to do exactly as opposed to what you used to do in the general category.  There is another step after that as to your ability to perform other work.  But in terms of performing past relevant work social security evaluates your past relevant work in every single case.

Now the essence of past relevant work is you probably know you can’t return to your past work if you’re applying for benefits, the medical standard is can you work full time at either your past work or other work.  That generally applies to most people depending on age.  So practically speaking, most people who are considering disability or have applied for social security disability benefits don’t think they can return to their past relevant work.

Now here’s the crux of the problem. Social Security, at least when you’re under 50, now will consider if you can return to not just what you used to do perhaps a specialist in something, skilled craftsman, maybe a lawyer. Social security will look not to whether you can return to that job let’s say you had a stroke and can’t concentrate too well they’ll consider that people under 50 whether they can return to other work as well.  So you can benefit greatly from having some legal advice as to whether you should apply or if you have applied how do I meet my definition of disability because if the only thing you can’t do is your past work you can probably perform some other part time work in some other capacity.   Your attorney is going to need to make arguments that you are by definition disabled.  You are by definition disabled if you meet certain criteria.  And again I’ll mention stroke but it can be any matter of health problems.  A lot of the health problems are listed under our disability library at www.HoglundLaw.com

The other instance where past relevant work actually is very important though is if you are over 50 or within 6 months of age 50.  And this can happen after you apply or can happen after you have your pending appeal.  In that case social security looks to see if you have physical restrictions first.  If physically you’re limited to sit down work or sedentary work.  And the definition of sedentary is within social security’s regulations.  As absorbed to the dictionary of occupational title.  Social Security looks to see if you can’t return to your past work and you’re limited to sit down work, if you’re over 50, and you don’t have skills that could shift into other sort of sedentary work you can be what’s called gridded out.  There are some guidelines that social security uses for people over 50 and that’s again an instance where past relevant work is crucial.

If you have questions about past relevant work please feel free, if you don’t already have an attorney call our office at 1-800-850-7867 you can also go on our website at www.HoglundLaw.com.  Hopefully this information can help you.  If we can actually represent you that’s wonderful.  But keep in mind that these concepts are specific to Social Security so getting to know them is very important.  Thank you.

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Submitting Evidence After Social Security Hearing


Video Transcription:

Hi my name is Andrew Kinney and I’m a Social Security attorney at Hoglund Law offices.  Today I wanted to talk about submitting evidence after your social security hearing.

Social security has hearings for people who are applying for disability insurance and supplemental security income.  First, there is an application, in most cases a reconsideration stage, and then a hearing.  The hearing is with a federal administrative law judge that looks at your medical records and decides your case based on that your testimony and other factors.

The subject today is unique because most times you should get your medical evidence in before your social security hearing, not after.  But sometimes you don’t have a choice.  Usually, what I see if we get involved in a social security claim and someone is unrepresented is that all the evidence was not to the judge on time.  Usually, when that happens we’re helping at the level after the appeals counsel level.  So we’re submitting evidence that should have been available before the hearing way too late, I would argue.  In social security claims its important all along the way to make sure social security has all the updated medical records at all the stages I talked about.  But what is particularly important, at least by when  your hearing is scheduled, is that you do a final push and get all the updated records from all the medical sources so that they’re available at the hearing.

In the situation at hand here, when I’m talking about submitting records after the hearing, one of challenges is that at some point after the hearing the judge will have a written decision.  The date of that written decision will be the last day the judge will look at this stuff for now.  You have an unknown deadline after a hearing to submit medical evidence.  What do you do about it?  Well, if you have an attorney with you at the hearing the attorney should ask to hold a record open. Typically, we ask the judge “Don’t make a decision your honor until we can get these specific records.”  Generally, judges have a deadline for that.  Now if you don’t have that agreement then you really don’t know if you’ll have time to get updated medical evidence.  So a backup option, particularly if you’re unrepresented is to call your hearing office after the hearing and talk to the assistant to the judge and ask can the judge not make a decision because there was some evidence that I forgot.

The basic idea here is you can get evidence in after a hearing at least according to the current law, but it’s not ideal in fact by any stretch of the imagination. You should at all cost try to get evidence in before.   If you do submit records after your hearing your attorney should submit a brief if at all possible explaining why these record are relevant in fact. Also it should be explained why they’re relevant and that the judge should look at them when the judge may have made a decision in the case but has not committed it to writing.  If you have more questions about Social Security benefits, applying for social security, or in the case of here, how should I handle my evidence in my social security claim well be happy to talk with you.  You can call 1-800-850-7867.  You can also go online at www.HoglundLaw.com and look up these sorts of issues.  Hopefully this helped today.  Thank you.

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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Over 50? Why Age Matters In A Social Security Disability Claim?


Video Transcription:

Hi, my name is Andrew Kinney.  I’m an attorney at Hoglund Law offices.  I practice Social Security Disability Law.  Today I wanted to talk about why age matters in social security claims.

We help many, many people.  Some are younger some are older.  Social Security Law treats older people differently, specifically people over 50.  Why does that matter?  Well the standards change at age 50.  Some people call it a grid, but Social Security calls it a medical vocational guideline.  What does that mean?  When you’re trying to prove you’re unable to work, you are left confronting the social security process. It’s very, very important to know what the standards are.

What would allow you to be approved?  If you’re over 50 and you have physical problems that require you to sit-down or do sedentary work, that may allow you an automatic approval with certain criteria met.  If you can’t return to your past relevant work, or what you used to do the last 15 years, there’s another video on past relevant work specifically.  So if you’re under 50  you maybe approved for Social Security benefits. But, if you’re over 50 or will soon be over 50 you could take advantage of the easier guidelines to be approved.

Now you don’t have to be limited to sedentary work only if you’re over 55 you might be limited to light level work, and social security has definitions of what light means, but you’re limited to certain physical kinds of work and you can’t return to your past work you might be able to be approved to social security easier. So, it’s good to know how your age matters.

If you have more questions about Social Security law, grids in particular feel free to go to our website at www.HoglundLaw.com.  You can also call us at 1-800-850-7867 if you think you might want to have a lawyer help you.  Thank you.

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

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