Damon Duncan

What is Forced Placed Insurance?

by

[av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’main_color’ custom_bg=’#d7d8ca’ src=” attachment=” attachment_size=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=”]

[av_heading heading=’What is Forced Placed Insurance?’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ margin=” margin_sync=’true’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jj023904′ admin_preview_bg=”][/av_heading]

[/av_section][av_video src=’https://www.youtube.com/watch?v=ZYYcMokMn04′ mobile_image=” attachment=” attachment_size=” format=’16-9′ width=’16’ height=’9′ conditional_play=” av_uid=’av-jj025vgf’]

[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jj0252yj’ admin_preview_bg=”]
If you are behind on your house payments and are considering filing Chapter 13 bankruptcy to save your home, it is important that you find out whether you have forced placed insurance.

Happy family in front of houseYour bankruptcy attorney may ask you whether your homeowner’s insurance payments are usually included in your mortgage payments (in other words, whether your insurance is escrowed). If your answer to that question is yes, but you are several months behind on your mortgage payments, there are further steps you need to take.

When you fall behind on mortgage payments, the mortgage company is no longer receiving money from you each month to make your homeowner’s insurance payment on your behalf. Therefore, the homeowner’s insurance may lapse due to non-payment. The mortgage company cannot have the liability of a house with no insurance coverage, so the mortgage company will pay for insurance on your behalf. This is called forced-placed insurance because the mortgage company is essentially forcing it onto your home since there is no other insurance coverage on your home.

Why should you be concerned about forced placed insurance? The reason is that this insurance is generally much more expensive than the insurance you could find and pay for on your own. When your Chapter 13 bankruptcy is filed, the mortgage company will add the forced placed insurance costs onto the amount you are behind on payments. In the end, this could cause your Chapter 13 plan payment to be higher than necessary.

If you contact your mortgage company and find out there is forced-placed insurance on your property, speak with your Chapter 13 bankruptcy attorney about your options. He or she may recommend that you obtain your own property insurance that you will pay for out of pocket. Your attorney will also remind you to notify the mortgage company with proof of the new coverage when it has been obtained, so the forced-placed insurance can be canceled.
[/av_textblock]

[av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′]

[av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=”]

[av_comments_list av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av_uid=”]

How Long Does Bankruptcy Ruin Your Credit?

by

[av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’main_color’ custom_bg=’#d7d8ca’ src=” attachment=” attachment_size=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=”]

[av_heading heading=’How Long Does Bankruptcy Ruin Your Credit?’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ padding=’10’ color=” custom_font=”][/av_heading]

[/av_section][av_video src=’https://www.youtube.com/watch?v=qD1UKvxGy8c’ format=’16-9′ width=’16’ height=’9′]

[av_textblock size=” font_color=” color=”]
If you are considering getting a clean slate and filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy in North Carolina, you have probably heard that bankruptcy will “ruin your credit for 10 years.”

Fortunately, this is not true – as long as you are taking the necessary steps to care for your credit post-bankruptcy.

How Long Will It Be On My Credit Report?

Female on White BackgroundWhat is true is that when you file bankruptcy, the bankruptcy will stay on your credit report for seven to ten years. This means that for at least seven years from the date your bankruptcy case is filed, bankruptcy will show on your report. After seven years from the date you filed, you can contact the credit bureau to request the bankruptcy be removed, but they are not required to remove it until ten years have passed.

However, just because a bankruptcy shows on your credit report, does not mean your credit is ruined for ten years.

How Long Will My Credit Score Be Hurt?

Your credit score will likely be impacted by the bankruptcy for the first two or three years immediately following your bankruptcy filing. After that time, it is important for you to work on rebuilding your credit, even though the bankruptcy is still showing on your credit report. By working on rebuilding your credit while the bankruptcy is still showing, you are taking important steps to ensure your credit is not “ruined” for ten years. If you are in Chapter 13 bankruptcy, however, be sure to talk to your attorney before you incur any new credit or debt.

After two or three years following your bankruptcy filing, if you have been working on rebuilding your credit, you will begin to see your credit score increase again. It is important to remember that the bankruptcy is similar to a wound – it will not heal overnight, and it takes diligence, time, and care to completely heal. Eventually, that wound will turn into a scar and can still be seen but is not painful. Just like after two or three years the bankruptcy will still be visible on your report but will not have a big impact on your actual FICO score. By caring for your credit and taking the necessary steps to rebuild it during the seven to ten years it is reflected on your credit report, you will ensure that the bankruptcy gives you a true clean slate – and that it does not ruin your credit for ten years.

Just be patient, and remember that your score will not improve overnight. You will need to review any and all post-bankruptcy credit offers carefully, to be sure the interest rate is not outrageous – you certainly don’t want to end up with a debt that will haunt you for years.
[/av_textblock]

[av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′]

[av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=”][/av_social_share]

[av_comments_list]

Should I Give A Recorded Statement to the Insurance Company or Employer?

by

The answer is maybe!  When an employer, or especially their workers’ compensation insurance company, wants to take a recorded statement from you, they are not trying to help you.  They will probably try to use the statement against you in the future.  Most of the time they are gathering ammunition to use against you in the recorded statement.

Recorded Statement to Insurance Company?

When taking a recorded statement from you, the insurance company representative may state questions in a way that weakens your case for workers compensation benefits. For example, you have injured your knee at work. The adjuster may ask you if you help coach any of your children’s sports teams. You explain that you help coach your son or daughter’s soccer team. The adjuster may try to twist your answer in such a way that it appears your current injury is an injury you had outside of work and they could deny your workers compensation benefits based upon the way you answer this question. Be extra careful how you answer the question.  Remember the insurance adjuster is not your friend, even though they may seem like a nice person.  They have a job to do!

We suggest you not give a recorded statement to the insurance company unless you are in the presence of your attorney.

In the alternative, you may agree to state what happened to you in writing. Ask the insurance adjuster to send you their questions in writing and you can then answer them in writing.

However, be aware if you do not cooperate with the insurance company they may deny your claim.  If you decide to give the insurance adjuster a statement, at least contact an attorney to discuss your options before you give the statement. The insurance adjuster’s job is to find a technicality so they can avoid covering your workers’ compensation claim. It is a business for the insurance company and they generally lose money if they have to pay your claim. A workers’ compensation attorney can help you ensure that protect your rights.

What Is Vocational Rehabilitation In Workers’ Compensation?

by

[av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’main_color’ custom_bg=’#d7d8ca’ src=” attachment=” attachment_size=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=”]

[av_heading heading=’What Is Vocational Rehabilitation In Workers’ Compensation?’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ padding=’10’ color=” custom_font=”][/av_heading]

[/av_section][av_video src=’https://www.youtube.com/watch?v=x8W_81vSkuo’ format=’16-9′ width=’16’ height=’9′]

[av_textblock size=” font_color=” color=”]
To have vocational rehabilitation services provided, the insurance company must agree to provide the job training or appropriate rehabilitation. If they do not agree to provide these services then the injured worker, usually through their attorney, can request the Industrial Commission require the insurance company to pay for these services.  At this point, a rehabilitation specialist will evaluate you and your condition.  At that point, they will give you a tailored assessment and an individualized plan based on your needs.  You will then start with whatever solution has been agreed upon, whether that means you have specific job training, they place you in an entirely new job, or you go to school to further your career.

StethoscopeShould the employee refuse to accept the services, or just plain will not cooperate, at any point during the vocational rehabilitation services when ordered by the Industrial Commission; the Industrial Commission can bar the employee from further compensation.  This will happen until the employee decides to cooperate with the Industrial Commission.  During the period of suspension, the employee will not receive benefits either, unless for some reason the Industrial Commission feels that the refusal was justified. To ensure you continue to receive your compensation during workers’ compensation it is important to carefully follow all of the rules. If you have any questions then you should contact your workers’ compensation attorney.
[/av_textblock]

[av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′]

[av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=”][/av_social_share]

[av_comments_list]

Are Travel Expenses Covered Under Workers Compensation?

by

Generally speaking, mileage to go to and from treatment is covered under workers’ compensation if the client travels 20 miles or more roundtrip.  The current mileage reimbursement rate is $.565 per mile, but it is subject to change in accordance to the Internal Revenue Service guidelines.  If the Internal Revenue Service alters the mileage rates, … Read more

Can Bankruptcy Stop A Foreclosure?

by

[av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’main_color’ custom_bg=’#d7d8ca’ src=” attachment=” attachment_size=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=”]
[av_heading heading=’Can Bankruptcy Stop A Foreclosure?’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ padding=’10’ color=” custom_font=”][/av_heading]
[/av_section]

[av_video src=’https://www.youtube.com/watch?v=UUFqInYT2eM’ format=’16-9′ width=’16’ height=’9′]

[av_textblock size=” font_color=” color=”]
The short answer to the question is yes.  When a homeowner is facing foreclosure they should immediately look at their options in filing bankruptcy.  Whether you are looking into options for keeping the house or surrendering it, bankruptcy could very well be the best option for you.  The hardest decision for most people comes down to whether they want to try and save their home or surrender their property within the bankruptcy.  Generally speaking, most clients will have to choose between the two options, but the good news is you’re not alone.  Meeting with an experienced bankruptcy attorney can put you on the right track and offer a different perspective.  It’s important to have someone on your team who is experienced and will offer guidance to you and your family.

Before we talk about the benefits of each type of bankruptcy when it comes to the foreclosure of your home lets first briefly discuss how bankruptcy stops foreclosures.
[/av_textblock]

[av_heading tag=’h3′ padding=’10’ heading=’The Automatic Stay’ color=” style=” custom_font=” size=” subheading_active=” subheading_size=’15’ custom_class=”][/av_heading]

[av_textblock size=” font_color=” color=”]
An automatic stay is enacted when you file for bankruptcy. That is a fancy way of saying that the filing of a bankruptcy puts a freeze on all collection efforts, including foreclosures. If a creditor tries to collect debts, foreclose on a property, try to repossess a vehicle, etc. then they are violating federal laws and could face sanctions. So no matter which type of bankruptcy you file there will be an automatic stay that goes into place, which will stop a foreclosure. However, that automatic stay only lasts for different periods of time depending on which type of bankruptcy you file. So lets talk about each of those different types of bankruptcies.
[/av_textblock]

[av_heading tag=’h3′ padding=’10’ heading=’Chapter 7 Bankruptcy and the Foreclosure of a Home’ color=” style=” custom_font=” size=” subheading_active=” subheading_size=’15’ custom_class=”][/av_heading]

[av_textblock size=” font_color=” color=”]
The bad news first, a Chapter 7 bankruptcy typically means you will ultimately end up losing your house. Someone who is facing a foreclosure may choose to file a Chapter 7 bankruptcy if they believe the house isn’t worth keeping in the long run.

Foreclosure Sign in Front of HouseThere is some good news. Filing a Chapter 7 bankruptcy before the foreclosure will allow them to keep the foreclosure off of their credit and will wipe out any potential deficiency balances from the foreclosure…that’s really important! Also, although filing a Chapter 7 bankruptcy will not protect your house long term if you are behind on the house payments it will make the foreclosure process start back over. This will typically buy you another three months or longer in the house. (We’ve had people in their property for two years after surrendering it in a bankruptcy.) Live there rent and mortgage free and save your money up for the next place you move to. A Chapter 7 bankruptcy will also wipe out most of your unsecured debts like credit cards, medical bills and unsecured personal loans. There have also been rare circumstances where someone has surrendered their house within a Chapter 7 bankruptcy and then the bank is willing to try to work something out and modify or refinance the house after the bankruptcy. Like we said, this doesn’t happen often but it is another possibility.
[/av_textblock]

[av_heading tag=’h3′ padding=’10’ heading=’Chapter 13 Bankruptcy and the Foreclosure of a Home’ color=” style=” custom_font=” size=” subheading_active=” subheading_size=’15’ custom_class=”][/av_heading]

[av_textblock size=” font_color=” color=”]
Has your mortgage company been dragging you along for months now?  They keep telling you they are working on a loan modification but haven’t actually delivered on their promise?  Don’t let your sale date come and go before finding out what your options are for filing bankruptcy.  The mortgage company is not keeping your sale date in mind and could very well lead you right in to losing your home through foreclosure.  If you want to keep the house and get on a repayment plan, you need to look into filing Chapter 13 bankruptcy before it’s too late.  This type of bankruptcy will reorganize your debts and allow you to get assistance on paying back what’s behind on the house over 3-5 years.  Depending on what you are behind on the house and how much other debt you have, you will probably be on a repayment plan for 5 years which will allow you to keep a low monthly payment to pay back the arrearage amount on your house.  A Chapter 13 bankruptcy will also allow you to usually only pay back a portion of your unsecured debts like credit cards, medical bills and unsecured personal loans. At the end of your Chapter 13 bankruptcy you could potentially save your home and have no more unsecured debts.
[/av_textblock]

[av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′]

[av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=”][/av_social_share]

[av_comments_list]

Is Gross or Net Income Used To Determine the Average Weekly Wage in Workers’ Comp Cases?

by

If you have been injured by an accident at work, you will find it is in your best interest to meet with an attorney as soon as possible to be sure your rights are being protected. When you meet with an attorney, you will likely find that one of the first questions they ask you as they begin working on your file is “how much were you making at your job?”

Workers' Compensation Questions

Your income at your job prior to the accident is important to your workers’ compensation case because it allows your attorney to determine your “average weekly wage.” Your average weekly wage is the calculation used to determine your “comp rate,” which equals 66% of your average weekly wage.After your attorney determines your average weekly wage using your gross income, your comp rate (which is the amount you will be paid until you either return to work or a settlement is reached) will be determined by calculating 66% of your average weekly wage.

As you can see, your average weekly wage is the number that ultimately determines the amount of money you will be entitled to receive while you wait for a settlement in your case or wait to appear in front of the Industrial Commission. Your attorney will use an average of your gross income prior to your injury to determine the average weekly wage for your case.