Wednesday, November 21, 2018




Liquid Assets, Means Testing And More – Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

Liquid Assets, Means Testing And More – Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

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liquid assets debt Liquid Assets, Means Testing And More   Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

Serious debt problems are stressful enough, without the additional worry of trying to wrap your head around all of the rules and legal speak relating to procedures like filing for bankruptcy. Here we take a look at some of the most common terms you’ll encounter if you are researching bankruptcy as an option, or preparing to file.

Chapter 7

liquid assets debt1 Liquid Assets, Means Testing And More   Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

Under Title 11 of the United States Code, there are several different forms of bankruptcy people and businesses can file for. Chapter 7 is the most commonly used in personal bankruptcy cases. It is a form of bankruptcy that is resolved very quickly, with no ongoing monthly payments to creditors. Chapter 7 is available to people who meet its terms, which include having a low income compared not only with their debt, but with other families in their area.

Chapter 13

liquid assets debt2 Liquid Assets, Means Testing And More   Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

The second most common type of bankruptcy in America is chapter 13. This is also a form of personal bankruptcy, however unlike chapter 7 it does involve ongoing payment plans to creditors, over a period that will last between three and five years. Some people who are not eligible for chapter 7 can still file for chapter 13.

Means Testing

Means testing is the process used to determine whether you really can’t afford to pay your debts. It looks at your income from the past six months and analyses this against the median in your area (that’s the middle average in the range, so the halfway point financially between the poorest and richest family). It also takes into account the amount you have to pay off each month for your debts. Passing the means test is one of the main obstacles to filing under chapter 7, and there is also some means testing involved with chapter 13.

Liquid Assets

liquid assets debt3 Liquid Assets, Means Testing And More   Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

The technical definition of liquid assets is the things you own that can easily be converted into actual money. This will include things like cash, savings, and any stocks and shares you might own. Liquid assets are what are used to repay some portion of what you owe your creditors.

Exempt Liquid Assets

Some liquid assets are exempt from being reclaimed by the court as part of bankruptcy proceedings. The laws on what is considered exempt vary regionally, so you will need to find out from your chapter 13 or chapter 7 attorney what you may be allowed to keep.

Discharge

liquid assets debt4 Liquid Assets, Means Testing And More   Cutting Through The Legal Jargon Surrounding Personal Bankruptcy

Discharge is the term used to refer to the “end game” of bankruptcy procedures – the point where you are no longer obliged to repay any creditors. With chapter 7, your debts are usually discharged within a few weeks or months, because repayments made from your assets are all done at once. With chapter 13, you will not have your debts discharged until the end of the agreed payment plan, and you will be under special financial restrictions until that point. This will be a minimum of three to a maximum of five years after you file.

Once your debts are discharged, the creditors are no longer allowed to pursue you for payments, and neither are any third party debt collection agencies with regard to the debts covered by your bankruptcy case.

Today’s guest author, Monica Smith, is a financial consultant at the GoldBach Law group, a law firm that specializes in chapter 13 bankruptcy attorneys in California. She is an avid reader and likes reading novels in her spare time.

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Acquiring A Legal Marijuana Card Before You Break The Pot Laws

Acquiring A Legal Marijuana Card Before You Break The Pot Laws

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Have you been caught driving under the influence of marijuana?

If you have ever been arrested driving under the influence of marijuana, it is important that you find an attorney who can help you through the process of your DUI arrest. Whether your cannabis was lawfully possessed or not, California state prohibits drivers to operate a motor vehicle under the influence of any substance. This law mostly applies to those who drive under the influence of alcohol, but it not exclusive to that substance. All controlled substances fall under this law, including marijuana.

Marijuana DUI process
A skilled attorney will be able to defend a marijuana DUI much easier as compared to one involving alcohol. This is because there are no tests that can prove when marijuana entered the system and how much THC is actually in the body. Driving impairment caused by the substance has also not been proven, thus making it more difficult for the prosecution to make a case. A knowledgeable attorney knows that there is no scientific or proven evidence stating that marijuana in fact impairs driving abilities. If you have been arrested for marijuana DUI, it is very important that you get a good attorney to defend you during your case.

420 Doctors Los Angeles Review
There are some illnesses and conditions that will qualify you for a legal marijuana card. However, possessing a card does not mean you can get away with your DUI. If you want to look for a clinic where you can obtain a marijuana card, look through 420 Doctors Los Angeles reviews to find a legitimate medical practitioner. As there is over a thousand 420 doctor locations to legally purchase pot. However some medical doctors are more legit then others. So you need to read online reviews of doctors that perscribe medical marijuana card.

Here are some conditions that can qualify you for a medical pot card:

-Acquired immune deficiency syndrome (AIDS), HIV infection
-Anorexia, Cachexia
-Arthritis
-Cancer
-Chronic pain
-Glaucoma
-Migraine headaches or chronic headaches
-Persistent muscle spasms, multiple sclerosis

How to get a medical marijuana card
After you have looked over a trustworthy 420 doctors Los Angeles review website, you can choose a clinic to visit.

Here are the steps in acquiring a legal marijuana card:

1. Determine the hours of the doctor you want to see
2. Find out if the doctor accepts walk-in patients or only sees those who have scheduled an appointment
3. If the doctor requires an appointment be made, call the clinic and schedule one
4. Bring a valid ID and some of your medical records to your appointment
5. The doctor will give you an evaluation and see if you qualify for a marijuana card
6. If you do qualify, you will get a medical marijuana recommendation which you can use immediately

Many doctors give you an option of having a photo identification card. It is suggested that you choose one with your photograph on it so that you will have extra protection from law enforcement.
If you have ever been arrested for driving under the influence of marijuana, it is important that you look for an attorney who can navigate you through the process of a DUI. Look for law firms near you with attorneys specializing in DUI cases who can help you with your case.

Christopher J McCann is an Orange County DUI Criminal Defense Attorney at Law Offices of Christopher J McCannthat helps his clients facing marijuana drunk driving arrests. Mr. McCann writes for his two active blogs with helpful posts like How Does Marijuana Affect Driving.

marijuana Acquiring A Legal Marijuana Card Before You Break The Pot Laws

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