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San Antonio bankruptcy lawyerYou could get 100% of your health insurance paid from April through September 2021 if you lost your employer-based insurance during the pandemic. Last month’s American Rescue Plan Act included the $1,400 stimulus payments, expanded unemployment insurance, and many other benefits. One other lesser-known benefit pays your health insurance if you’ve lost your job and your health insurance with it. Today’s blog post talks about this new free health insurance.

 What is This Health Insurance Benefit?

This benefit could potentially pay your and your family’s entire health insurance premiums for April through September of 2021.  The White House, American Rescue Plan.

That could save you lots of money. You’d save by not having to pay the monthly insurance premiums. You could especially save by having coverage for any health care costs that would arise during this time.

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elderly parents, bankruptcy, finances, Texas lawyer, Texas bankruptcy attorneySome baby boomers have done advance planning to help those who will care for them in their old age by buying long term care insurance or setting aside specific funds. A growing number of aging individuals, however, are facing mental and physical challenges by relying on their family members. Research shows that 40 percent of U.S. adults are helping to care for a family member with a major health issue. The cost of caring for elderly parents can easily spin out of control, but you can get on top of your finances again through bankruptcy.

According to the National Alliance for Caregiving and the Metlife Market Institute, adults taking care of elderly parents face an increased risk of poor health themselves and a tendency to shortchange their own finances in the process. Poor health can lead to individual medical bills for you and using your savings to help a family member can lead to reliance on credit cards or loans to purchase basic necessities.

Sometimes one child has to give up their own career in order to focus on taking care of a parent. A female who chooses to give up her employment to become a caregiver will lose over $324,000 in pension or Social Security benefits and wages over the course of her lifetime. Many of the women taking on this new role hope that they will only need to step out of the workplace for a short period but then find that their family member requires more or longer-term care than they anticipated.

If you have been struggling to help a family member with the process of aging, there’s no doubt you have felt the impacts of doing so mentally, physically, and financially. If you are buried in debt and need a fresh start to get your life back on track, contact a Texas bankruptcy attorney today.

Olympics, Olympic Rings, San Antonio bankruptcy lawyer, career athletes, bankruptcy, financeThe 2014 Winter Olympics has just wrapped up and all eyes were on the incredible athletes from all around the world who have spent their life training for the big event. Although the Olympics is a celebration of all their hard work, it’s easy to underestimate the amount of time, energy, and financing that goes into preparing an athlete. Whether it’s the Olympics or professional sports, there’s a lot of hard work to get to the top. Some athletes struggle financially before or after their sports career, many even filing for bankruptcy.

The list of professional athletes who have gone bankrupt is longer than you might think. There are several reasons why they get there, but a primary one is poor financial planning or a series of hardships that threw them off course. Especially for younger athletes, not knowing how to properly manage their money can be a challenge too great, leading them to financial struggle mere years after their wealth accumulates.

According to a 2009 study, NFL retirees have a higher average income than men in similar age brackets of the general population. When that study broke down by age, however, younger athletes had higher numbers of sports stars with income close to or below the poverty level. A quick rise to fame can be difficult for younger athletes. Celebrating their big payoff after years of hard work and investment might mean financial difficulty and bankruptcy down the road as a result of poor financial planning.

Financial problems can affect individuals of all income levels and backgrounds. When you’re buried too deep and feeling like you’ll never be able to get on top of your situation, bankruptcy can be there to help. Bankruptcy can give you the fresh start you need. If you’d like to discuss your options, contact a San Antonio bankruptcy attorney today.

Since the ball dropped on New Year’s Day, people have been trying to keep their resolutions. Whether that is quitting smoking, losing weight, or just improving quality of life, keeping up with resolutions can be a challenge. Another common resolution is to get out of debt, and 2014 could be the year for it.

eliminate debt IMAGEThe first step to tackling debt is to list all outstanding balances. Include everything that you might owe for your mortgage, student loans, auto loans, credit card bills, or other bills. It is also important to include the interest rates on these bills so that the most expensive debts are dealt with first.

The next step is to track your spending. Using a year’s worth of bank statements and credit card statements, find out what you spend each month. This will let you see which expenses are necessary and which are not. Use this as a starting point in creating a budget that you can live with, and stick to it. That will allow you to trim any wasteful spending and reallocate those funds to getting rid of debt quickly.

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Believe it or not, financial scammers often do not target the wealthiest individuals. Instead, those facing financial pressures and even considering bankruptcy are most often victimized. Those with money problems may painted into a corner, under immense stress, willing to do whatever it takes for a fresh start, and more susceptible to the dubious claims of scam artists.

refinancing scamStaying educated on the tricks of these con artists will help protect you from falling into their trap. How do scammers seek to steal from vulnerable Texas residents? A few of the most common scams include: Home Affordable Refinance Program Scams (“HARP”): HARP is a program available to those who are not behind on their mortgage but have difficulty refinancing.  Scam artists are well aware that this program exists. They may try to contact you by phone or through the mail, claim that you qualify for HARP support, and ask for money to work through the process on your behalf. The only way to truly know if you qualify for HARP is to check HARP’s website, or contact your mortgage lender. Eligibility for HARP is based on a number of factors listed by HARP. If you are not sure you can check Freddie Mac’s website to gauge your potential eligibility for HARP.

Unfortunately, scammers often use HARP as a way to funnel money their way. The main thing to look out for are third parties asking for large fees to help you take advantage of the program.

 Rent to Own or Lease Back Scheme: This scam can result in loss of your home if you are not careful.  In this trick, con artists try to convince homeowners to sign over the title or deed to their home with no intention of ever giving the house back.  This is done with claims about getting money up-front while leasing the home or renting again in order to buy it back. These scam artists typically target people they know applied to refinance but were denied due to credit.

The best way to protect yourself from a scam like this is to never sign over the deed or title of your home unless you are legitimately selling the property with the aid of lenders, real estate agents, and proper legal professionals.

 Trusted Legal Help If you are dealing with foreclosure, looming debt, and other financial pressures, remember that you do not have to handle it alone. An experienced Texas bankruptcy attorney can help. Our team in San Antonio works with residents throughout the state looking for a fresh financial start.  Feel free to contact us today to learn more.

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