Medical Bankruptcy: Fact or Fiction?

You have probably heard someone use the term "medical bankruptcy." This is a word commonly used by individuals who either are going through a medically related financial crisis, or are acquainted with someone who is facing severe medical debt. Although medical bankruptcy is not a legal term, it is a useful term to describe a financial remedy for an individual who may have reached the end of their rope because of medical debt.

Medical bankruptcy can be a misleading term because there is no legal remedy available exclusively for medical debt. In general, bankruptcy is the dissolution or reorganization of some or all of an individual's debt. When you file for any type of bankruptcy you must include all your debt. This would apply to home mortgage loans, car loans, credit cards, and medical debt. There are several types of bankruptcies, but most individuals filing a bankruptcy for medical debt will typically file for a Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy may allow an individual to eliminate their debt, while a Chapter 13 bankruptcy can allow an individual to reorganize their debt into a 3-5 year plan, while at the same time reducing the principle on their debt.

The idea that a medical bankruptcy exists as a legal remedy may have developed because the court handles medical debt in a different way than they might other types of debt. Not all debt will receive the same treatment in court. A bankruptcy court will generally divide an individual's debt into two classes: Secured Debt or Unsecured Debt. Secured debt is the type of debt that is usually tied to assets like an auto loan or home mortgage. Unsecured Debt is usually not tied to assets, yet can often be eliminated or greatly reduced through a bankruptcy. It's important to realize that medical debt is usually classified as an unsecured debt.

While the term "medical bankruptcy" is not a legal term, it is a useful way for an individual to describe how their finances fell into chaos. An experienced bankruptcy attorney will immediately understand what a client needs when they inquire about a medical bankruptcy. A bankruptcy attorney can then inform them how a bankruptcy could be a solution to their financial hardship caused by medical debt, and even help the individual decide whether a Chapter 7 or Chapter 13 is most appropriate for their situation. Once an individual has decided the best course of action, the attorney will then lead them smoothly through the legal process of filing, and obtaining a bankruptcy.

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No Credit Car Loans: Bad Credit, No Problem

If you are looking for a quick and easy car loan, a "no credit car loan" might be a good option. However, you need to know what you are getting yourself into with loans of this type.
No Credit Car Loans - the Background
The plain truth is that obtaining auto loans or any other kind of personal loan, for that matter, is not as simple as it used to be. Large commercial banks don't want anything to do with personal loans, especially financing new cars. In most cases, people who buy a new car from a dealer wind up financing their loan through the dealership. The dealer will most likely tack additional charges onto the bottom line.
What a Buyer Might Face With No Credit Car Loans
If your credit score is less than perfect you understand that you are facing many restrictions on the type of financing you can realistically get. Lending is a high risk venture. Now more than ever. The lender evaluates your repayment history. Nobody wants to lend money to someone known for defaulting on loans. Those who do, charge more interest and apply more restrictions. More interest equals to more of the money being paid back before you default. How your credit score affects your work ethic is another story. But, it is true. Some employers will not hire you if your credit is bad.
Collateral
Collateral is a good bargaining tool. If you have enough collateral you can buy pretty much anything you want. But, if you have a poor credit history, there is a good chance you don't have any collateral. A rock and a hard place. Just like when you were a kid. You can't get a job without experience - you can't get experience without a job! Likewise, just as the kind-hearted grocer gave you that first break, there are lenders willing to give you a break and help you re-establish your credit and obtain collateral.
Hazards of No Credit Car Loans
Beware of wolves wearing sheep clothing. There are lenders that prey on people with poor credit. They bank on the fact that you might not be all to credit savvy. They count on you not knowing the ins and outs of auto financing. You may be asked to pay astronomical interest in exchange for waiving credit check requirements. You could end up making payments for twenty years without ever actually paying one cent of the principal.
Similarly, you have the "title loan." You put up your car as collateral and agree to pay back the loan in a very short time. Usually about a week. This is basically legalized loan sharking. If you borrow $200, you pay back in the neighborhood of 3-4 hundred. This may help you buy a second vehicle, but think about it - is a second vehicle really that important? Why not take the bus for a while, save up and buy your second or first vehicle without all the extra charges?
Always carefully read all of the fine print in any kind of financial deal. If a no credit car loan will benefit your financial situation without putting you out on the ledge, then go for it.

Mike McTigue is an Automotive Journalist and former Car Dealer with a unique insight into the auto financing industry, and special financing.

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Perfect Use Lips

Nothing impresses your friends more than a perfect lip line, because it is the hardest makeup application to do.To get it, avoid applying the lip pencil too heavily, which will be difficult to blend and soften into the lipstick. Keeping your mouth closed lightly trace the lip line with the lip pencil so it can barely be seen, but can be used as a guide line.

Hold the brush horizontally to trace along the lip line, and do a little bit at a time, backing up and going over it again. Don't try to get the whole line in one stroke. The best lip brush is a sable with a slightly tapered edge, not straight one.

This provides more control and a cleaner line.If you are really pressed for time, apply lipstick only on the bottom lip and press your lips together. Then, blend out to the lip line with the edge of a lip brush, not the tip, for a precise line, or use a dampened cotton swab for a soft, natural lip line.

When finished, instead of blotting the lips by biting a tissue, lay the tissue across both lips while your mouth is closed. This will imprint your lips, including the edges of the mouth where lipstick usually bleeds. Perfect!

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Perfect Use Lips

Nothing impresses your friends more than a perfect lip line, because it is the hardest makeup application to do.To get it, avoid applying the lip pencil too heavily, which will be difficult to blend and soften into the lipstick. Keeping your mouth closed lightly trace the lip line with the lip pencil so it can barely be seen, but can be used as a guide line.

Hold the brush horizontally to trace along the lip line, and do a little bit at a time, backing up and going over it again. Don't try to get the whole line in one stroke. The best lip brush is a sable with a slightly tapered edge, not straight one.

This provides more control and a cleaner line.If you are really pressed for time, apply lipstick only on the bottom lip and press your lips together. Then, blend out to the lip line with the edge of a lip brush, not the tip, for a precise line, or use a dampened cotton swab for a soft, natural lip line.

When finished, instead of blotting the lips by biting a tissue, lay the tissue across both lips while your mouth is closed. This will imprint your lips, including the edges of the mouth where lipstick usually bleeds. Perfect!

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