Various Blogs regarding Cincinnati Family Law, Estate Planning And Bankruptcy.
At Bailey & Gunderson, our attorneys help people going through some of life's most difficult challenges. We bring our experience, skill and creativity to every case, taking on all types of Family Law including Divorce, Bankruptcy, Probate and Estate Planning issues. Learning that most people ask the same questions - this blog is our way of providing some general legal information. Feel free to contact our Cincinnati Law Offices to discuss your specific situation.
If you are thinking about filing for divorce, the following tip may be helpful:
HAVE REAL ESTATE AND PERSONAL PROPERTY APPRAISED IF YOU ARE THINKING ABOUT ENDING YOUR MARRIAGE.
You will not receive your fair share of the division of the real estate and personal property if you do not know the value of your assets.There is no sense in guessing on the value of the marital home, business, jewelry or baseball cards in a divorce. There are experts available who can appraise real estate and personal property.You should utilize these experts in valuing the marital assets so that you can determine your fair share of the assets in a divorce.
FOR OTHER ADVICE ABOUT DIVORCE OR DISSOLUTION OF MARRIAGE, PLEASE CONTACT OUR OFFICE.
This insight into the law is provided by the attorneys at Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township.Phone: (513) 631-0022.
The average home in Ohio and across the country that carries any kind of credit card debt owes $15,762, according to a report from Nerd Wallet. Unlike debt like a mortgage or car loan, credit card debt can be detrimental to someone's credit score.
Keeping that in mind, it is imperative that people know how to manage having a credit card. Here are six tips to using those accounts wisely:
1. Know your credit score. Before opening a credit card or taking on any other loan, for that matter, it is imperative that consumers know what their credit score is. As the Federal Trade Commission points out, people may gain access to their credit score for free once every year. There are also sites that permit consumers to pay for a score, and there are even credit cards that grant free access to that information. The reason this is so important is that interest rates are often based on the cardholder's credit score.
2. Set your own due date. Many credit card companies will permit a cardholder to set the due date he or she wishes. This can be advantageous, as it may work to set the date apart from the date that rent or mortgage is due. Or, some people find they prefer to have a due date close to payday every month.
3. Manage the balance wisely. One factor that determines someone's credit score is whether or not a card has been maxed out. Experts suggest keeping the balance on a card between 20 and 30 percent of the actual limit. Even if the balance can be paid off in full, maxing out a card every month can be detrimental.
4. Never carry a balance. The only time interest is charged on an account is when someone cannot pay off the balance in full and on time. Interest rates can be shockingly high, adding a significant amount of money to the next month's bill. Consumers should adjust their budget to ensure they can bring the credit card balance to zero every month. Failing to do so could result in revolving, overwhelming debt that creates severe financial turmoil.
5. Communicate with the card company. It is entirely possible to make a mistake and miss a payment. If someone has a good history with the card company, it is possible to get late fees waived. According to a poll from CreditCards.com, eighty-nine percent of people who were charged a late fee but asked for reprieve were granted it.
6. Know what to do about debt. There are countless people across the country who have credit card debt. It is possible to find a card with an appealing balance transfer option. This enables a consumer to move debt from one card with a high interest rate to another card at a better rate, possibly even a 0 percent rate for a certain period of time.
People with serious credit card and other debt may also want to explore the option of filing for bankruptcy. Anyone who has questions regarding that issue should speak with an attorney.
We can help you with your debt or bankruptcy questions at Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township.Phone:(513) 631-0022.
DO YOU NEED TO HAVE YOUR PARENTING ORDER REVIEWED PRIOR TO THE HOLIDAY SEASON TO MINIMIZE STRESS ON THE CHILDREN (AND YOURSELF)?
The holiday season is a special time for everyone, but it’s extra special for the children.You might not be in the most comfortable place with your co-parent right now, especially if your divorce or separation is rather recent. Be sure to review your parenting agreement or order to make sure that you are complying with it.For the sake of helping your children experience the holiday season without stress, try and work together with your co-parent to coordinate certain aspects of the holiday season for the children.
WE CAN REVIEW YOUR PARENTING ORDER.
If you both will be spending time with your children over the holidays, speak with your co-parent about events you each plan to attend. This will help prepare your co-parent to talk about those events when the co-parent speaks with the children.
Also, have a conversation with your co-parent about gifts you are each thinking about giving the children. This is not a time to try and one-up your co-parent in terms of gift giving, but rather to coordinate who is giving what gift so that you are not duplicating gifts for the children.
An important issue trending in the news recently is “sexual harassment”.
Can you recognize sexual harassment?
What is sexual harassment? Is sexual harassment occurring at your workplace? Are you the victim of sexual harassment or a perpetrator of sexual harassment? Can you recognize sexual harassment?
What should you do if you are a victim of sexual harassment in the workplace?
The attached article from the Ohio Bar Association provides some insights about the law related to this important topic.
Medical debt continues to be a leading cause of new bankruptcy filings in Ohio
If the number of bankruptcies filed is any indication of an economic recovery, the latest statistics indicate that Ohio is recovering from the recession of 2008. According to the data, the number of personal bankruptcy filing declined in Ohio by five percent to 46,892 filings during 2013.
Along with the good news, the data also had some negative points. Although the number of bankruptcies declined in Ohio, the decline was significantly lower than the national average of 12 percent. In addition, the data indicated that the reason why many Ohioans were filing for bankruptcy had little to do with the economy. Medical bills were cited as one of the leading reasons that pushed Ohio residents into bankruptcy.
Similar Medical Debt Trends nationwide
Ohioans are not alone in struggling with medical bills. According to a 2012 study published in the American Journal of Medicine, which analyzed bankruptcy data between 2001 and 2007, over 62 percent of bankruptcies were triggered by medical bills, at least in part. The study also indicated that, unsurprisingly, as healthcare costs continue to rise, medical bills became more of a financial burden to Americans. During the six-year period of the study, the number of bankruptcies where medical bills were a cause rose by about 50 percent.
The study also found that having health insurance was not a panacea against bankruptcy. Among the bankruptcies filed because of medical bills, 75 percent of the filers had health insurance. The study found that the despite having insurance, many of these consumers were saddled with out-of-pocket costs for expenses such as prescription drugs and medical equipment, many having outstanding bills well over 10 percent of their pretax income. Others were forced to pay for their medical procedures in full, because the insurance companies cancelled their policies once they required treatment.
Bankruptcy can help
For those struggling with medical debt, bankruptcy can offer a way out. Once bankruptcy is filed, the automatic stay goes into effect, which halts all creditor collection efforts, such as harassing phone calls or collection lawsuit. Regardless of whether the debtor files for Chapter 7 or Chapter 13 bankruptcy, medical debt is dischargeable, meaning that the debtor is relieved of the obligation to repay the debt. Once bankruptcy has concluded, the debtor emerges free of medical debt with a fresh financial start.
Bankruptcy is not a solution for everyone. For this reason, if you are struggling with medical debt, it is important to consult with an experienced bankruptcy attorney. An attorney can accurately assess whether bankruptcy would be a good fit for your situation.
If you are thinking about filing for divorce, the following tip may be helpful: 
DO YOU NEED TO HAVE YOUR PARENTING ORDER REVIEWED PRIOR TO THE HOLIDAY SEASON TO MINIMIZE STRESS ON THE CHILDREN (AND YOURSELF)? 
Sexual Harassment is Making News.
