Saturday, 31 December 2011

Will a Foreclosure Prevent Me from Getting an Inheritance Cash Advance?

One of the most frequent questions that persons have for an inheritance cash company is whether their financial problems or current financial situation will have any impact on their eligibility for a cash advance.

Generally, bad credit or the state of your bank balance will have no impact on whether you're eligible for a probate cash loan. However, while determining your eligibility for an inheritance cash flow, the company will prepare a credit report that will determine whether you have any liabilities like pending child support, or any judgments against you that could affect your eligibility.

Home foreclosures do not automatically disqualify you from eligibility for an inheritance cash advance. In fact, in most cases you may not be prevented from obtaining an inheritance cash advance based merely on a home foreclosure or discharges in bankruptcy. A foreclosure does not interfere with an inheritance cash advance.
However, when you apply for an inheritance cash advance, it is important that you make your financial situation as clear to the funding company as possible. Tell the company about any creditors that you're aware of, any liabilities that may affect your inheritance, or any court judgments against you, in order to ensure a smooth processing of your advance application.

Since your inheritance cash advance is really an advance on your inheritance and not a loan, your income status is not of any particular interest since there are no monthly installments to pay. Any claims on your inheritance like medical claims, can impact the ability of your estate to pay back the funding company in full. In such cases, the probate cash company will assume the risk, except in those cases where the person was aware of these claims, but failed to inform the company about it.

Bankruptcy Concerns at Sears

Retailer Sears’ financial woes are not exactly news to California bankruptcy attorneys. After all, the company has been struggling to regain its previous market share for a while now. However, this holiday season seems to have sent the company to the edge of bankruptcy.

Sears and Kmart reported dismal sales this holiday season, typically the busiest and most profitable time of the year for retailers. That shouldn't be a surprise to anybody, least of all shoppers who have been avoiding both Sears and Kmart for a while now. Both store chains have been in a state of decline for a number of years, and this holiday season, the evidence was clear to see.

Sales at Kmart fell by about 4.4% during the 8 weeks ending on December 25. At Sears, there was a 6% percent decline in sales. According to analysts, Sears has been losing more money during the first three quarters of the year than it is able to make back during the typically busy last quarter. There's no doubt that Sears Holding is in deep financial trouble.

In California, at least 3 Sears stores in California have shut down since the holidays. Those are among 79 stores across the country that have closed down, or will soon shut down after reporting dismal holiday sales this year. In all, there are about 41 Sears and 38 Kmart stores that are scheduled for closure. However, none of the Kmart stores in California are scheduled for closure yet.

Sears has been looking at years of continuous sales declines. The company seems to be caught in a no-win situation. It cannot revamp its stores to make them more like Target with its ‘cheap chic’ culture because of little cash flow. It also cannot drop prices to Wal-Mart levels, because the company cannot operate on lower margins than it is now.

Arizona Laws Regulate ‘Practice Drift ‘By Doctors

In Arizona, revised guidelines set strict regulations for doctors who want to practice outside of their specialties. However, several states do not have any regulations or only have limited regulations on such ‘practice drift,’ exposing patients to risk.

In Arizona, those guidelines only came in 2008, in response to an incident in which three patients of a Phoenix emergency room doctor died after having cosmetic surgery in his clinic. The guidelines were passed soon after, and they regulated the kind of training that doctors who want to practice outside of their specialties, need to have. The guidelines established that doctors need to be competent in the procedures that they perform if these are outside their specialties.

It was very important that those guidelines be established because of an increasing number of doctors who practice in specialties outside their own. For instance, cosmetic surgery is a lucrative field. Regulators around the country have been finding a number of doctors branching out into cosmetic surgery without being trained to do so. Doctors are being tempted to branch out into other potentially more lucrative fields without the requisite training and in the absence of any licensing requirements. These procedures are performed in the doctor’s own office.

Both hospitals and insurance companies frown upon such ‘practice drift,’ but doctors manage to get away with this because office surgery facilities are unregulated in half the country. Currently, only 21 states like Arizona require some kind of licensing and accreditation for doctors who want to practice outside their field. You don’t have to be an Arizona medical malpractice lawyer to know that a patient is at a serious risk of medical injury when a doctor trained in obstetrics performs a cosmetic surgery procedure when he does not have the training or qualifications to do so.

Wednesday, 28 December 2011

Mortgage Interest Tax Deductions Could be Eliminated in 2012

In 2012, there will be quite a few tax deductions that California tax lawyers want people to know may not be the same as this year. For instance, the tax deduction for mortgage interest was earlier on its way out for people who had high incomes. However, last year, that restriction for people with high incomes was eliminated, as lawmakers decided to focus on stabilizing the economy, and providing mortgage interest tax breaks for people with high incomes too.

In 2012, it could be a different matter altogether. Already, there is talk of bringing those restrictions on mortgage interest credits for high income groups back. California tax lawyers expect that higher income groups who take mortgages next year may find lower tax advantages than they do now. In fact, we wouldn't be too surprised if these tax breaks for certain groups of people were eliminated altogether.

For some people, the tax advantages of taking a mortgage in 2012 will be very limited.
There are other tax breaks that are on the endangered list in 2012. One of those rules is one that allows people to deduct sales taxes instead of state and local taxes. That rule is due to expire at the end of 2011. The rule is expected to be reinstated, but at this point in time, it's hard to tell whether Congress will decide to reinstate it.

Also, the home energy tax credit scheme comes to an end on December 31, 2011. If you have purchased energy-efficient fixtures for your home, including doors, Windows, heating and air-conditioning systems or skylights, you may be eligible to get 10% of the cost as an energy tax credit. The credit is for a maximum of $500.

FDA Says Lap-Band Marketing Company Fails to Warn of Risks to Patients

The Food and Drug Administration is accusing a marketing company of failing to warn patients about the risks of lap band surgery, in its marketing and promotion campaign. The 1-800-GET- THIN marketing company has promoted its weight loss surgery on billboards and via radio and television ads. However, the Food and Drug Administration says that the company doesn't adequately warn about the risks of the surgery. The campaign does mention some of the risks of the surgery, but the typeface is so small that it's barely visible, and patients are likely to miss it.

California medical malpractice lawyers have been especially concerned about the growing number of deaths associated with lap band surgery. Since 2009 alone, 5 patients in southern California have died after they underwent lap-band weight loss surgery in centers that were associated with the campaign.

The 1-800-GET- THIN marketing company does not actually provide the surgery, but refers potential clients to surgery centers, surgeons and facilities that perform the services. The marketing campaign includes dozens of billboards dedicated to promoting lap band surgery.

Now, the Food and Drug Administration has sent a warning letter to 1-800-GET-THIN and 8 of its affiliated surgery centers. The warning letter says that the advertisers must do a better job of making clear the risks of the surgery. The Food and Drug Administration says that the marketing company is required to make available all information that patients need, including data about safety risks.

This is the first time that the federal agency has cracked down on advertisements by the company. The action by the federal agency comes after criticism by relatives of patients who died after they underwent lap band surgery, and even Lap-Band manufacturer Allergan.

Monday, 26 December 2011

Motorcycle Accident Fatality Numbers up Again

In 2009, the National Highway Traffic Safety Administration had announced news that was very welcome to Los Angeles motorcycle accident lawyers. The agency reported a decline in the number of motorcycle accident fatalities nationwide, the first such decline recorded in more than 11 years. However, in 2010, it was an entirely different picture. According to new data released by the National Highway Traffic Safety Administration for 2010, there was an increase in the number of motorcyclists killed in accidents, from 4,469 in 2009 to 4,580 in 2010.

That made for an increase of .7%, and although that may seem like a minor increase, it is still important because it signifies that any progress that has been made in reducing these fatality numbers over the past years, may have already been lost.

The federal agency has not yet gotten around to giving an explanation for the increase in motorcycle accidents-related fatalities. However, Los Angeles personal injury lawyers have a few theories. For one thing, in 2010, there was an increase in the number of vehicle miles traveled, with Americans traveling more miles last year. That has meant heavier vehicular traffic, and as a result, an environment that isn't as safe for motorcyclists. The previous year’s lower motorcycle accident death rate had been linked by some experts to a drop in vehicle miles traveled across the country, because of the recession. That doesn't seem to be true any more, and it could be that there are more numbers of automobiles on the streets, and these are colliding with motorcycles.

The National Highway Traffic Safety Administration has not released data about the causes of motorcycle accidents last year, including rates of helmet use among motorcyclists and other important data that could provide clues to the reasons for this increase. However, any Los Angeles motorcycle accident lawyer would advise that a motorcyclist always wear helmets while riding, and look out for vehicles.

Friday, 16 December 2011

Home Flipping Major Factor in Arizona Foreclosure Crisis

Speculative real estate investors may have had much more to do with the current foreclosure crisis in Arizona and around the country than earlier believed. According to a new federal report, investors who used the easy availability of low down payment, subprime credit to purchase multiple houses, are likely to have inflated home prices, thereby possibly contributing to the current foreclosure crisis.

The research by the Federal Reserve Bank Of New York focuses on what has been thus far a neglected factor in the housing crisis. Federal officials have been trying to contain the foreclosure crisis, and have not studied the reasons for the crisis in great depth. Now, the Federal Reserve Bank Of New York has found that in 2006, more than one out of all home mortgages in the country were owned by people who already owned at least one residential property. In states like Arizona, these real estate investors accounted for close to half of all mortgage-backed property purchases.

In fact, between 2000 and 2006, real estate investors like these formed the fastest-growing segment of homeowners in the country. As they purchased more and more and more properties, these investors likely inflated home prices, making it more expensive for owner-occupants to purchase homes. Arizona foreclosure lawyers found that values of these homes began to drop in 2006, leading to large-scale defaults on mortgages. Arizona was affected severely by the mass defaults, as were California, Florida and Nevada. In these states, delinquent mortgages accounted for more than a third of the delinquent mortgages numbers nationwide.

According to the report by the Federal Reserve Bank Of New York, both lenders and regulators need to limit speculative borrowing to avoid a housing crisis of this kind in the future.

Monday, 12 December 2011

More Details about Sexual Molestation by California Cheerleading Coach Emerge

More information is emerging about the sexual molestation of a 14-year-old boy by a cheerleading coach in San Jose. The coach, Anthony Loza was arrested last week on suspicion of sexual abuse and molestation of a child. Police believe that he had a three-month sexual relationship with the 14-year-old boy, who also happened to be one of his charges. Loza was a coach at Andrew Hill High School and Energy Athletics.

The abuse apparently came to light when the boy's mother found text messages on his cell phone from the cheerleading coach. The text conversations confirmed the mother's worst fears, and she confronted the boy. He admitted that he had kissed his coach, and the mother called the police. After an investigation, both the child as well as the coach admitted to police that they had engaged in sexual relations.

The boy is reported to have been attending either Andrew Hill High School or Energy Athletics. At this point, it does not seem that the coach was involved in abusing any of the other children at these programs, but police are asking any other persons with information about the abuse to contact San Jose police. Loza is currently lodged at the Santa Clara County Jail where he is being held on a $500,000 bail. If bail is posted, he is likely to return to court in January.

Thanks to the media spotlighting of abuse of children by teachers and coaches as well as efforts by Los Angeles sexual abuse lawyers to highlight this serious problem, more parents are now aware now that they can no longer afford to blindly trust teachers, coaches, school employees and other people in positions of authority and trust. The mother in this case was alert enough to go through her child's cell phone and identify the abuse. Parents must be more vigilant and look out for signs of abuse.