Auto insurance can cost you a fortune or it can be very affordable, but what makes the difference? Which insurance provider offers the cheapest rates? Do some companies allow you to finance your premium so that your monthly payments can be lowered? This is your direct auto insurance guide where we will walk you through how you can save thousands a year on your auto insurance.
There are definitely some tricks of the trade and factors that will help you get the most coverage available for the lowest premium out there. Premiums are usually priced in 6 month increments or even sometimes 12 month increments.
An insurance company pulls your insurance score. This is different than your credit score. Just like a credit score, however; the less you get pulled over and the lesser amount of tickets will help you have a higher score. The higher score you have on insurance will result in better insurance rates which will yield you a lower premium. What people don't realize is that insurance companies are just like any other financial company, they deal with risk and depending on the risk level, it will directly affect your premium cost and insurance rates. Depending on your history, some products may not even be offered to you even if the insurance company offers them.
Tips to lower insurance premiums:
Too many people over insure their cars. If you own an old car that is completely paid off, just make sure you have a policy that will cover the car of an individual if you caused a crash so that their car could be paid for. Don't make the mistake of getting comprehensive insurance on a car that is worth less than $3,000 dollars. A high deductible may sound lame, but it will drastically lower your premium amount. If an insurance company knows that you are willing to put down some money if you get in an accident, they will consider you a lesser risk than someone that has a very small deductible. Many insurance companies offer discounted premiums when you first sign up with them for the first 6 months. It may sound silly, but changing insurance agents every year will keep your premiums low as you will be utilizing these discounted premium rates.
Monday, July 27, 2009
Friday, July 24, 2009
Is Travel Insurance A Rip-Off? by Gen Wright
Some people never bother with travel insurance, while others swear by it. Do you need travel insurance? Is it worth the extra cost? What does it cover?
Research
Compare plans that are offered through large insurance companies, and travel agents - sometimes, agents get truly great deals. Make sure to check for:
- Trip cancellation - Accidental death - Emergency medical and dental - Loss of luggage - Bankruptcy
Before you buy any insurance plan (even the ones that look great), make sure that you don't already have a plan you can apply towards your trip. Sometimes, current insurance plans that you have include many of the things listed above - you don't want to pay twice!
What If You Don't Buy Insurance?
There's no guarantee that you will need travel insurance during your trip. Then again, there's no guarantee that you won't need it either. Since you will be traveling to a destination that's far from your home, it never hurts to make sure that you are covered in some manner.
There's also the practical side of travel insurance to consider. What if the airline you chose goes bust? What if your cruise is cancelled? Travel insurance can protect you from these things (they happen more often than you may think!).
Inquire
If you find a plan that appeals to you, make sure to ask about all the fine details. Sometimes, insurance plans simply don't make sense. In this case, it is far better to ask about the things that you don't understand, rather than purchase something that you can't use.
Call up customer representatives, ask them to explain all terms to you, and then decide upon the right trip insurance. If you come across a company that is not user-friendly, it's best to have this knowledge before you purchase any trip insurance plan.
Daydreaming of a Trip?
While all this talk about trip insurance is important, you won't be able to get off the ground unless you have an adequate amount of cash flow. Paying for a vacation can be costly. Instead of spending every dime that you have, think about obtaining a private car title loan.
Car title loans can be gained through small lenders. These loans are primarily intended for individuals with bad credit that can't get loans from typical financial institutions. The loan is secured by the value of your vehicle and therefore, the only thing that will be required of you is that you own your own vehicle. With standard financial institutions becoming more and more stringent in their loan criteria, a car title loan may be the solution you are looking for. If you already have a vehicle, apply for a car title loan - you'll get a response within hours. After you have been approved, start packing your bags - your dream vacation awaits!
Research
Compare plans that are offered through large insurance companies, and travel agents - sometimes, agents get truly great deals. Make sure to check for:
- Trip cancellation - Accidental death - Emergency medical and dental - Loss of luggage - Bankruptcy
Before you buy any insurance plan (even the ones that look great), make sure that you don't already have a plan you can apply towards your trip. Sometimes, current insurance plans that you have include many of the things listed above - you don't want to pay twice!
What If You Don't Buy Insurance?
There's no guarantee that you will need travel insurance during your trip. Then again, there's no guarantee that you won't need it either. Since you will be traveling to a destination that's far from your home, it never hurts to make sure that you are covered in some manner.
There's also the practical side of travel insurance to consider. What if the airline you chose goes bust? What if your cruise is cancelled? Travel insurance can protect you from these things (they happen more often than you may think!).
Inquire
If you find a plan that appeals to you, make sure to ask about all the fine details. Sometimes, insurance plans simply don't make sense. In this case, it is far better to ask about the things that you don't understand, rather than purchase something that you can't use.
Call up customer representatives, ask them to explain all terms to you, and then decide upon the right trip insurance. If you come across a company that is not user-friendly, it's best to have this knowledge before you purchase any trip insurance plan.
Daydreaming of a Trip?
While all this talk about trip insurance is important, you won't be able to get off the ground unless you have an adequate amount of cash flow. Paying for a vacation can be costly. Instead of spending every dime that you have, think about obtaining a private car title loan.
Car title loans can be gained through small lenders. These loans are primarily intended for individuals with bad credit that can't get loans from typical financial institutions. The loan is secured by the value of your vehicle and therefore, the only thing that will be required of you is that you own your own vehicle. With standard financial institutions becoming more and more stringent in their loan criteria, a car title loan may be the solution you are looking for. If you already have a vehicle, apply for a car title loan - you'll get a response within hours. After you have been approved, start packing your bags - your dream vacation awaits!
Monday, July 20, 2009
Some Advice For Locating Cheap Homeowners Insurance by William Hazelhurst
If you own your own home for which you are paying a mortgage you have to to carry an insurance policy which covers the property in case of a disaster or other problem. However, although it is certainly a requirement that you have this insurance, it is certainly not necessary for you to pay more than you have to for that insurance plan. That is why many people are searching for cheap homeowners insurance to save a bit of money while ensuring that they have the protection they need at the same time.
Not surprisingly, there are numerous ways in which you can save money when buying a homeowners insurance policy.
One of the most popular ways is to do a Web search and there are a large number of websites which will allow you to do this. I most cases, you just provide a little information about your home which may include its location as well as how much coverage you require. With the click of your mouse the site will start querying a number of insurers for quotes and will come up with a list in a matter of seconds.
Another method of finding cheap homeowners insurance is one which all too many homeowners tend to overlook. Almost certainly you already have insurance of one sort or another perhaps in the form of an automobile insurance policy or a term life plan. In many instances you will almost certainly be able to package several different insurance policies with the same company together and they will generally give you a discount if you do so. There may also be other discounts that are available from your insurer that are not widely known and which are only made available if you ask for them. A good example of this is that frequently insurers will provide you with a discount if a child in your house who maintains their grade point average at a certain level.
It never hurts to look for cheap homeowners insurance and it is one way for you to ensure that you are not spending your money needlessly. It goes without saying of course that you should not forfeit quality when you are searching around for the lowest price and it is necessary for you to ensure that the insurance company you choose will be able to take care of you in the event that the unthinkable should happen.
Not surprisingly, there are numerous ways in which you can save money when buying a homeowners insurance policy.
One of the most popular ways is to do a Web search and there are a large number of websites which will allow you to do this. I most cases, you just provide a little information about your home which may include its location as well as how much coverage you require. With the click of your mouse the site will start querying a number of insurers for quotes and will come up with a list in a matter of seconds.
Another method of finding cheap homeowners insurance is one which all too many homeowners tend to overlook. Almost certainly you already have insurance of one sort or another perhaps in the form of an automobile insurance policy or a term life plan. In many instances you will almost certainly be able to package several different insurance policies with the same company together and they will generally give you a discount if you do so. There may also be other discounts that are available from your insurer that are not widely known and which are only made available if you ask for them. A good example of this is that frequently insurers will provide you with a discount if a child in your house who maintains their grade point average at a certain level.
It never hurts to look for cheap homeowners insurance and it is one way for you to ensure that you are not spending your money needlessly. It goes without saying of course that you should not forfeit quality when you are searching around for the lowest price and it is necessary for you to ensure that the insurance company you choose will be able to take care of you in the event that the unthinkable should happen.
Wednesday, July 15, 2009
Choosing Family Insurance Coverage by janet ashby
Many insurance companies offer family insurance coverage as an alternative to covering family members individually. This type of insurance typically covers healthcare costs for family members and premiums are usually the same however many children are in the family. For this reason it can be an excellent choice if you have two or more children. The cover is for any dependant children and for both parents. Other family insurance may include householder's insurance to cover damage to the home and insurance to cover mortgage payments in the event of illness, disability or death to the principal wage earner.
Employers Health Coverage - Adding Children
It can be extremely expensive to add a child to an already existing health coverage plan offered by employers and you may be advised taking out a separate family insurance cover, especially if you have two or more children.
What Does Family Insurance Cover?
This type of insurance coverage very often provides regular once a year medical examinations for any children below sixteen (or 18 in some plans) and prenatal and maternity cover. Many of the policies include children until they reach twenty four provided they are full time students. Plans may perhaps also include cover for hospital stays, x-rays and laboratory tests, operations etc. It is important to always check you are aware of precisely what coverage the plan offers. You may perhaps be able to select maternity coverage for every family member which may be a good choice for those with female children. Though none of us wishes teenage pregnancy to occur it can happen and the family insurance can be very useful in these circumstances.
Family Dental Coverage
Some insurance policies include family dental coverage or you may perhaps want to take out separate family dental insurance coverage. These plans differ in the type of cover offered and also in age maximum for any dependant children. Naturally the coverage you receive is dependant on the the monthly premiums.
Full Time Students
As noted above several insurance plans include children over eighteen provided they are in full time education. Insurance cover sometimes extend to 23 or 24. Ensure that the facilities on campus, local hospitals or physicians are willing to accept the family's insurance and you need to give the student an insurance certificate when they leave for school.
What Might Not Be Included
Family insurance coverage may perhaps not include certain treatments common in childhood, replacement for spectacles, allergy tests or braces. Find out about the cover provided by the plan under consideration and think about taking out a savings plan for circumstances not included in your family insurance.
Conclusion
Family insurance coverage is a good option for large families to cover most healthcare costs. Although individual policies may vary all dependent children up to the age of eighteen, or even twenty three or four if they are in full time education, are usually covered.
Employers Health Coverage - Adding Children
It can be extremely expensive to add a child to an already existing health coverage plan offered by employers and you may be advised taking out a separate family insurance cover, especially if you have two or more children.
What Does Family Insurance Cover?
This type of insurance coverage very often provides regular once a year medical examinations for any children below sixteen (or 18 in some plans) and prenatal and maternity cover. Many of the policies include children until they reach twenty four provided they are full time students. Plans may perhaps also include cover for hospital stays, x-rays and laboratory tests, operations etc. It is important to always check you are aware of precisely what coverage the plan offers. You may perhaps be able to select maternity coverage for every family member which may be a good choice for those with female children. Though none of us wishes teenage pregnancy to occur it can happen and the family insurance can be very useful in these circumstances.
Family Dental Coverage
Some insurance policies include family dental coverage or you may perhaps want to take out separate family dental insurance coverage. These plans differ in the type of cover offered and also in age maximum for any dependant children. Naturally the coverage you receive is dependant on the the monthly premiums.
Full Time Students
As noted above several insurance plans include children over eighteen provided they are in full time education. Insurance cover sometimes extend to 23 or 24. Ensure that the facilities on campus, local hospitals or physicians are willing to accept the family's insurance and you need to give the student an insurance certificate when they leave for school.
What Might Not Be Included
Family insurance coverage may perhaps not include certain treatments common in childhood, replacement for spectacles, allergy tests or braces. Find out about the cover provided by the plan under consideration and think about taking out a savings plan for circumstances not included in your family insurance.
Conclusion
Family insurance coverage is a good option for large families to cover most healthcare costs. Although individual policies may vary all dependent children up to the age of eighteen, or even twenty three or four if they are in full time education, are usually covered.
Monday, July 13, 2009
Stay protected around the globe with worldwide travel insurance by Peter Smyth
Whether you are visiting the ancient Mayan Ruins in Mexico or the Sydney Opera House in Australia, having worldwide travel insurance can help make sure that trip is one to remember, for all the right reasons. Few activities bring the pleasure and excitement that traveling all over the world does, but costs are always a concern and every traveler at some point or another has considered whether or not they should get travel insurance.
Travel insurance is needed by all travelers
Travel insurance is now easier to get than it's even been before. Travel insurance companies are aggressively marketing their policies and services in various ways, especially on the internet. You need only to enter in your travel information, and in seconds you can receive numerous quotes from providers who eager to provide you with a policy for your next trip.
If you are a worldwide traveler then it's not a question of whether or not you'll need travel insurance, but merely when. Some people doubt the need for travel insurance, falsely believing that it is too expensive and unnecessary, but nothing could be further from the truth. Even in the case of minor incidents, having travel insurance can prove to be well worth the added expense to your trip.
Don't know where to begin your search for world travel insurance?
If the idea of looking for travel insurance seems intimidating, here are a few ways that you can take the process step by step and find the best coverage.
Identify what coverage you will need- Worldwide travel insurance offers almost any type of coverage you may find yourself in need of when traveling, including accidental death and dismemberment, medical care, lost and stolen baggage and personal property, and trip cancellation and interruption. Most insurers offer plans which will include all of the aforementioned protection, so as to address the needs of every traveler as best as possible.
Compare insurers- Worldwide travel insurance is offered by plenty of companies but the best deal for you may be available only through one company. Don't accept the first quote you receive, instead shop around and compare coverage from a number of providers, it's the only way to guarantee that you're in fact receiving the best rate on insurance that's available.
Don't be afraid to ask questions and read the fine print-It's important that you understand exactly what your travel insurance does and does not cover, and the best way to do so is to ask questions and read the details of the policy before you purchase it.
Having just any travel insurance plan just won't do; get adequate coverage from a provider that you can count on.
Travel insurance is needed by all travelers
Travel insurance is now easier to get than it's even been before. Travel insurance companies are aggressively marketing their policies and services in various ways, especially on the internet. You need only to enter in your travel information, and in seconds you can receive numerous quotes from providers who eager to provide you with a policy for your next trip.
If you are a worldwide traveler then it's not a question of whether or not you'll need travel insurance, but merely when. Some people doubt the need for travel insurance, falsely believing that it is too expensive and unnecessary, but nothing could be further from the truth. Even in the case of minor incidents, having travel insurance can prove to be well worth the added expense to your trip.
Don't know where to begin your search for world travel insurance?
If the idea of looking for travel insurance seems intimidating, here are a few ways that you can take the process step by step and find the best coverage.
Identify what coverage you will need- Worldwide travel insurance offers almost any type of coverage you may find yourself in need of when traveling, including accidental death and dismemberment, medical care, lost and stolen baggage and personal property, and trip cancellation and interruption. Most insurers offer plans which will include all of the aforementioned protection, so as to address the needs of every traveler as best as possible.
Compare insurers- Worldwide travel insurance is offered by plenty of companies but the best deal for you may be available only through one company. Don't accept the first quote you receive, instead shop around and compare coverage from a number of providers, it's the only way to guarantee that you're in fact receiving the best rate on insurance that's available.
Don't be afraid to ask questions and read the fine print-It's important that you understand exactly what your travel insurance does and does not cover, and the best way to do so is to ask questions and read the details of the policy before you purchase it.
Having just any travel insurance plan just won't do; get adequate coverage from a provider that you can count on.
Friday, July 10, 2009
Health Impacts of A Bad Economy by Anil Sharma
It is heartbreaking to know that millions of people are choosing to put off their health related issues and postponing dealing with health problems at a later point of time when the economy is a bit better. For now, they have decided to deal with health issues on an as needed basis. It is important to know how to stay healthy during a bad economy so that the healthcare costs can be kept to the minimum.
Health is indispensable and choosing not caring about it is going to jeopardize the economic recovery itself. More jobs would get impacted if the employees constantly worry about themselves or their loved ones being not getting too sick. Family related issues are one of the most prominent stress causing factors that impact performance at work.
Additionally, since more and more people do not have health insurance because they have been laid off from the jobs or because the employers are cutting back on the benefits, they are forced to go to an emergency every time. The excess load on the emergency services has reduced the efficiency and the patients who need extra urgent care also have wait more before they are given any attention.
The regular annual health checkups if ignored can have long term impact on the health of the employees. They might find out in the future that they could have prevented a health issue or at least mitigated it if only they had their annual checkup done.
Even though the jobs and salaries have been cut there is obviously no reduction in the cost of a health care service.
The administration has to bring up a solution to this gargantuan problem as soon as possible. Deterioration of health and loss of jobs form a vicious circle that is effectively slowing down the economic recovery. A cheaper health care system is going to take off some burden from the shoulders of the people who then may not need to choose between health and food or home.
The green offshoots in the economy that everyone is talking about is encouraging but it seems they are not taking into account the health that has been ignored for the last 12 months or so.
The spread of the H1N1 flu has made matters worse. The people have a fear in their hearts about falling sick and therefore they have curtailed their visits to the malls and shopping places. As a result the retailers are continuing to see dismal sales and more and more stores are still closing for good adding to the jobless rate at an ever increasing pace.
Myhealthcode.com has great information on how to avoid health issues on order to survive through these rough economic times.
Health is indispensable and choosing not caring about it is going to jeopardize the economic recovery itself. More jobs would get impacted if the employees constantly worry about themselves or their loved ones being not getting too sick. Family related issues are one of the most prominent stress causing factors that impact performance at work.
Additionally, since more and more people do not have health insurance because they have been laid off from the jobs or because the employers are cutting back on the benefits, they are forced to go to an emergency every time. The excess load on the emergency services has reduced the efficiency and the patients who need extra urgent care also have wait more before they are given any attention.
The regular annual health checkups if ignored can have long term impact on the health of the employees. They might find out in the future that they could have prevented a health issue or at least mitigated it if only they had their annual checkup done.
Even though the jobs and salaries have been cut there is obviously no reduction in the cost of a health care service.
The administration has to bring up a solution to this gargantuan problem as soon as possible. Deterioration of health and loss of jobs form a vicious circle that is effectively slowing down the economic recovery. A cheaper health care system is going to take off some burden from the shoulders of the people who then may not need to choose between health and food or home.
The green offshoots in the economy that everyone is talking about is encouraging but it seems they are not taking into account the health that has been ignored for the last 12 months or so.
The spread of the H1N1 flu has made matters worse. The people have a fear in their hearts about falling sick and therefore they have curtailed their visits to the malls and shopping places. As a result the retailers are continuing to see dismal sales and more and more stores are still closing for good adding to the jobless rate at an ever increasing pace.
Myhealthcode.com has great information on how to avoid health issues on order to survive through these rough economic times.
Tuesday, July 7, 2009
Speeding Tickets-The Difference between 99mph and 100mph by Steve Miller
Chances are we all know someone who has received a speeding ticket. If you have found yourself reading this article, you may even be the one with a speeding ticket or other speeding violation. However, how many of us know someone that has been cited for going over 100mph? Some noteworthy recipients of an 'Over 100mph' speeding ticket include Basketball player LeBron James, actor Matt Dillon and politician Al Gore's son. From sports to Hollywood to politics, it is a completely different beast when it is over 100mph. All the rules change from 99mph to 100mph. The ticket may even go from a simple speeding ticket to 'reckless driving'!
Each state handles 'triple-digit speeding' with different punishments. As the three famous drivers above were all cited in three different states, they all face varying combinations of penalty fines, courts fees and possible license suspensions. While each may be able to withstand the fines and fees, these types of speeding tickets usually result in an insurance policy adjustment or possible cancellation.
Can you avoid these punishments in California?
California Highway Patrol Officer, Vince Ramirez says a 100 mph-plus driver may be caught either by radar or by cruiser (known as a "bumper piece"). He says:
"Most offenders are caught on "the outskirts of big cities, high desert areas or rural populations."
That is a good lesson for all of us to be extra careful in these areas to avoid state punishment. If pulled over, by no means should you ever offer a bribe to avoid the state punishments. It is a felony offense. Of course, it is perfectly okay to ask for only "a warning" but at 100 mph or more, it is not likely you will get it. Additionally, remember that it is likely the officer will ask you how fast you thought you were going, but you are under no obligation to answer. Just be polite and do not challenge the ticket right there, as it may annoy the officer, undermining your case.
Penalties vary across states and jurisdictions.
In California, for example, a first offender likely will face a fine not exceeding $500, two points on a license and possible jail time. The infraction becomes a misdemeanor if the police can prove a driver was reckless. In Virginia, it is a fine of up to $2,500 and mandatory jail time. Some states like Florida and New York use a sliding scale for speeds up to 50 mph over the limit. Many including Oregon enforce mandatory license suspensions.
99mph to 100mph-reckless driving considerations
According to auto.AOL.com, whether an infraction becomes a reckless driving offense depends on road conditions, how you were driving, the officer serving your ticket and the state in which you received it. Factors include if you were seen making unsafe lane changes or had a passenger in your car (even more so if it's a child). Reckless driving is usually a misdemeanor criminal offense. In Florida, a third offense for driving 50 mph over the limit is a felony. In Virginia, driving above 85 mph is considered reckless.
Check with the court for the county in which you were cited for all the details of your particular "Over 100mph" speeding ticket, contact us at howtofightspeedingtickets.com, a service provided by Ticket Busters of California (TicketBust.com) or call us at 800.850.8038.
Each state handles 'triple-digit speeding' with different punishments. As the three famous drivers above were all cited in three different states, they all face varying combinations of penalty fines, courts fees and possible license suspensions. While each may be able to withstand the fines and fees, these types of speeding tickets usually result in an insurance policy adjustment or possible cancellation.
Can you avoid these punishments in California?
California Highway Patrol Officer, Vince Ramirez says a 100 mph-plus driver may be caught either by radar or by cruiser (known as a "bumper piece"). He says:
"Most offenders are caught on "the outskirts of big cities, high desert areas or rural populations."
That is a good lesson for all of us to be extra careful in these areas to avoid state punishment. If pulled over, by no means should you ever offer a bribe to avoid the state punishments. It is a felony offense. Of course, it is perfectly okay to ask for only "a warning" but at 100 mph or more, it is not likely you will get it. Additionally, remember that it is likely the officer will ask you how fast you thought you were going, but you are under no obligation to answer. Just be polite and do not challenge the ticket right there, as it may annoy the officer, undermining your case.
Penalties vary across states and jurisdictions.
In California, for example, a first offender likely will face a fine not exceeding $500, two points on a license and possible jail time. The infraction becomes a misdemeanor if the police can prove a driver was reckless. In Virginia, it is a fine of up to $2,500 and mandatory jail time. Some states like Florida and New York use a sliding scale for speeds up to 50 mph over the limit. Many including Oregon enforce mandatory license suspensions.
99mph to 100mph-reckless driving considerations
According to auto.AOL.com, whether an infraction becomes a reckless driving offense depends on road conditions, how you were driving, the officer serving your ticket and the state in which you received it. Factors include if you were seen making unsafe lane changes or had a passenger in your car (even more so if it's a child). Reckless driving is usually a misdemeanor criminal offense. In Florida, a third offense for driving 50 mph over the limit is a felony. In Virginia, driving above 85 mph is considered reckless.
Check with the court for the county in which you were cited for all the details of your particular "Over 100mph" speeding ticket, contact us at howtofightspeedingtickets.com, a service provided by Ticket Busters of California (TicketBust.com) or call us at 800.850.8038.
Sunday, July 5, 2009
Filing For Bankruptcy - Is It Time for a Fresh Start? by Jeremy Nelson
Filing for bankruptcy can be a way to get a fresh start financially. How so? Because chapter 7 bankruptcy is a legal procedure which enables you, a debtor, to discharge outstanding debts that you feel you are no longer able to pay. To qualify for relief under this law, your financial circumstances must meet certain criteria. Also only certain types of debt are dischargeable. Debts which may not be erased include student loans, taxes, alimony and child support.
The process begins when you or your attorney file a "petition for relief" with the bankruptcy court. Once the petition is filed, creditors are automatically prohibited from calling or in any way contacting you, and otherwise pursuing or continuing any legal action against you or your property unless they get authorization from the court. Thus, collection calls, lawsuits, wage garnishments, repossessions and foreclosure are stopped immediately. But what may cause you to consider filing for bankruptcy as an option?
Causes of bankruptcy
Causes of bankruptcy are not necessarily poor money management, but may include loss of job, divorce, medical problems resulting in excessive medical bills, or a combination of these factors. For instance, loss of your job may also mean loss of medical insurance and this may just coincide with a major medical situation. More recently, rising mortgage payments in a falling real estate market have forced many people into bankruptcy. But what other effects will bankruptcy have on your financial affairs?
Effects of filing for bankruptcy
The chances are that if you are considering bankruptcy, your credit will never be worse than it is right now. But bankruptcy is reported to the credit bureaus and will appear on your credit report for up ten years. A potential lender who sees a bankruptcy as a part of your credit file may view it as a negative item, worse than delinquencies or accounts in collections. It will have a negative effect on your credit score since a credit score is derived from the information on your credit report. Bankruptcy could possibly reduce a credit score by 100 or more points.
Keep in mind that Chapter 7 bankruptcy may not relieve you of all your debts. Therefore it is the course of wisdom to consult an attorney to determine how secured debts, debts obtained with a cosigner, and other types of debts are handled. In general debts such as taxes, student loans, child support, and alimony cannot be discharged under this filing for bankruptcy. So it's important that you make payments for these types of obligations on time since delinquencies could continue to be reported to credit bureaus and further impact your credit score. Bankruptcy may make it more difficult for you to obtain credit, buy a home, and get insurance in the future soon after filing. Credit that you are able to obtain may be from sub prime lenders that carry a higher interest rate.
Furthermore, with the easy access to information provided by the Internet and with more employers doing background checks when determining your qualifications for a job, a bankruptcy filing can have even more of a long-term impact.
So while filing bankruptcy can bring relief from overwhelming debt you are not able to repay, it does have its disadvantages and long term consequences and should therefore be carefully considered. Re-establishing good credit after bankruptcy is quite possible although it may take time. Also some lending institutions will take into account the factors that led to your bankruptcy when evaluating a loan application.
The court hearing
After you or your attorney has filed the petition with the local bankruptcy court a date will be set for the hearing. At this meeting the trustee (the person appointed by the court to sell non-exempt assets) will examine the debtor by asking a few questions and no appearance before the judge is necessary. Creditors may show up at this meeting but this is usually rare.
No doubt, with increasing economic pressures, we will continue to see more and more bankruptcy filings by individuals in financial distress. Careful evaluation of your circumstances and the potential impact of filing for bankruptcy will enable you to decide if a chapter 7 filing is the best course for you.
The process begins when you or your attorney file a "petition for relief" with the bankruptcy court. Once the petition is filed, creditors are automatically prohibited from calling or in any way contacting you, and otherwise pursuing or continuing any legal action against you or your property unless they get authorization from the court. Thus, collection calls, lawsuits, wage garnishments, repossessions and foreclosure are stopped immediately. But what may cause you to consider filing for bankruptcy as an option?
Causes of bankruptcy
Causes of bankruptcy are not necessarily poor money management, but may include loss of job, divorce, medical problems resulting in excessive medical bills, or a combination of these factors. For instance, loss of your job may also mean loss of medical insurance and this may just coincide with a major medical situation. More recently, rising mortgage payments in a falling real estate market have forced many people into bankruptcy. But what other effects will bankruptcy have on your financial affairs?
Effects of filing for bankruptcy
The chances are that if you are considering bankruptcy, your credit will never be worse than it is right now. But bankruptcy is reported to the credit bureaus and will appear on your credit report for up ten years. A potential lender who sees a bankruptcy as a part of your credit file may view it as a negative item, worse than delinquencies or accounts in collections. It will have a negative effect on your credit score since a credit score is derived from the information on your credit report. Bankruptcy could possibly reduce a credit score by 100 or more points.
Keep in mind that Chapter 7 bankruptcy may not relieve you of all your debts. Therefore it is the course of wisdom to consult an attorney to determine how secured debts, debts obtained with a cosigner, and other types of debts are handled. In general debts such as taxes, student loans, child support, and alimony cannot be discharged under this filing for bankruptcy. So it's important that you make payments for these types of obligations on time since delinquencies could continue to be reported to credit bureaus and further impact your credit score. Bankruptcy may make it more difficult for you to obtain credit, buy a home, and get insurance in the future soon after filing. Credit that you are able to obtain may be from sub prime lenders that carry a higher interest rate.
Furthermore, with the easy access to information provided by the Internet and with more employers doing background checks when determining your qualifications for a job, a bankruptcy filing can have even more of a long-term impact.
So while filing bankruptcy can bring relief from overwhelming debt you are not able to repay, it does have its disadvantages and long term consequences and should therefore be carefully considered. Re-establishing good credit after bankruptcy is quite possible although it may take time. Also some lending institutions will take into account the factors that led to your bankruptcy when evaluating a loan application.
The court hearing
After you or your attorney has filed the petition with the local bankruptcy court a date will be set for the hearing. At this meeting the trustee (the person appointed by the court to sell non-exempt assets) will examine the debtor by asking a few questions and no appearance before the judge is necessary. Creditors may show up at this meeting but this is usually rare.
No doubt, with increasing economic pressures, we will continue to see more and more bankruptcy filings by individuals in financial distress. Careful evaluation of your circumstances and the potential impact of filing for bankruptcy will enable you to decide if a chapter 7 filing is the best course for you.
Wednesday, July 1, 2009
A Little About The History Of Blue Cross Blue Shield by Art Gib
Did you know that Blue Cross Blue Shield is the largest provider of health insurance coverage in America? In fact, the company brand insures approximately 1 in every 3 Americans which adds up to over 100 million people! The history of the company stretches back 80 years and since then BCBS has been a respected member of the health care community that continues to grow and provide insurance help for more and more people each and every day. Here's a little bit about the history of Blue Cross Blue Shield.
Its Beginnings
Lifelong educator and lawyer Justin Ford Kimball was vice president of Baylor's colleges of Medicine, Nursing, Dentistry as well as its hospital in Dallas when he noticed that Baylor Hospital had many unpaid bills, many of which were owed by school teachers who could not afford to pay them. Motivated not only by the loss of income, but also by his sympathy for teachers, Kimball developed a pre-paid hospital plan that would eventually form the beginnings of Blue Cross Blue Shield. This prepayment plan was a huge success since teachers could more easily save a little money each month to cover future possible hospitalization rather than pay for it in one big chunk later.
The success of the Texas plan soon caught on, and within ten years of its inception, the program boasted an enrollment of 1 million. Health care coverage soon included maternity, and in 1933 the first "Blue Cross" baby was born in North Carolina. Amazingly, the cost of delivering the baby as well as the mother's 10 day hospital stay totaled a mere $60! The Blue Cross symbol itself was commissioned in 1934 as an advertising gimmick meant to increase brand recognition, and it has remained with the company ever since. The Blue Shield was added five years later.
It was during the war years in the 1940's that companies began to offer health benefits as part of an overall compensation package for employees. However, BCBS offered not only group plans through businesses, but continued to offer great rates and coverage to individuals much as it still does today.
By the mid 1950's, thanks in large measure to the popularity of employer-based health benefits, the percentage of Americans covered under health insurance stood at 70%, up a full 60 percentage points from the previous decade.
By the year 2000, it was Blue Cross that processed the majority of Medicare claims, and its membership stood at 88 million: more than any other insurer in the country. BCBS continues to fill America's health care needs, even in difficult times, by providing a wide array of products at the lowest possible prices.
Its Beginnings
Lifelong educator and lawyer Justin Ford Kimball was vice president of Baylor's colleges of Medicine, Nursing, Dentistry as well as its hospital in Dallas when he noticed that Baylor Hospital had many unpaid bills, many of which were owed by school teachers who could not afford to pay them. Motivated not only by the loss of income, but also by his sympathy for teachers, Kimball developed a pre-paid hospital plan that would eventually form the beginnings of Blue Cross Blue Shield. This prepayment plan was a huge success since teachers could more easily save a little money each month to cover future possible hospitalization rather than pay for it in one big chunk later.
The success of the Texas plan soon caught on, and within ten years of its inception, the program boasted an enrollment of 1 million. Health care coverage soon included maternity, and in 1933 the first "Blue Cross" baby was born in North Carolina. Amazingly, the cost of delivering the baby as well as the mother's 10 day hospital stay totaled a mere $60! The Blue Cross symbol itself was commissioned in 1934 as an advertising gimmick meant to increase brand recognition, and it has remained with the company ever since. The Blue Shield was added five years later.
It was during the war years in the 1940's that companies began to offer health benefits as part of an overall compensation package for employees. However, BCBS offered not only group plans through businesses, but continued to offer great rates and coverage to individuals much as it still does today.
By the mid 1950's, thanks in large measure to the popularity of employer-based health benefits, the percentage of Americans covered under health insurance stood at 70%, up a full 60 percentage points from the previous decade.
By the year 2000, it was Blue Cross that processed the majority of Medicare claims, and its membership stood at 88 million: more than any other insurer in the country. BCBS continues to fill America's health care needs, even in difficult times, by providing a wide array of products at the lowest possible prices.
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