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credit card and medical bill debt Archives

Am I liable for my parents medical debt?

People consider bankruptcy for many reasons, and one of the most common reasons for bankruptcy in the United States today is medical debt. Often, however, individuals consider bankruptcy not because of their own medical debt, but because of the debt of a parent. Before you file for bankruptcy because of a parent's medical debt, be sure to consult with an experienced attorney to determine if you are actually legally liable for your parent's medical debt to begin with.

Bankruptcy can offer serious medical debt relief

If you are like thousands of Americans, you didn't get yourself into an unbearable debt situation through frivolous spending — you simply had bad luck surrounding medical costs. A huge number of Americans are swimming in medical debt that threatens to drown them each month. While the matter remains exceptionally politicized for individuals of every political persuasion, everyone agrees that medical costs across the country have skyrocketed out of control, and everyday Americans are suffering.

Am I liable for my deceased family member's credit card debt?

When a person who has accumulated a great deal of credit card debt passes away, the survivors may suddenly be thrust into a very uncomfortable situation. Whether they expected it or not, the decedent's creditors, or possibly third party collectors, will take many steps to try to convince the survivors of the individual who owed the credit card debt to pay it. But should you have to pay a deceased person's credit card debt?

Your tax refund can help alleviate credit card debt

Credit card debt has a way of piling up while you're not looking and eating up every spare cent of your income once you do see it. Thousands of individuals throughout the country feel as though they are drowning in credit card debt, and understandably so. The good news is that the situation is rarely as dire as it feels when you are underneath it all. This tax season, if you are going to receive a tax refund, consider investing that money in your own peace of mind by using it to pay down your credit card debt.

Medical debt is the most common cause of bankruptcy

The past year has proven without a doubt that the country is deeply divided on nearly every political and social issue that America currently faces. If there is anything that it seems like everyone can agree on, one way or another, it is that the cost medical care in our country is simply astronomical. While this is not the forum for determining exactly how to fix this issue, it is worth acknowledging that medical expenses are the number one leading cause for bankruptcy filings in the nation. If you have had your life devastated by medical debt, you can take some comfort in knowing that you are by no means alone.

Consumer rights in multiple annual percentage rate scenarios

Credit card debt can be one of the most frustrating and destructive liabilities for a consumer. Fortunately, the government recognizes that consumers deserve some protections against lenders who may use unfair or even dehumanizing practices. Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, consumers are afforded a number of rights that can help them manage credit card debt more effectively and avoid unfair treatment in the process.

Unfair collections tactics should not be tolerated

Debt is one of the true horrors of the modern world. As we become more unavoidably connected, personal debt takes on an eternal life that makes it almost impossible to outrun, even legitimately. As debt moves from one creditor to a second and third and so on, the context of the original debt becomes lost, leaving only raw information in spreadsheets that one creditor may buy from another. For the consumer, this can lead to an everlasting cycle of bizarre harassment and unfair practices at the hands of impersonal collectors.

How can you deal with overwhelming credit card debt?

Credit cards can be useful for the average Ohio consumer, but when the balance becomes unmanageable, this can eventually snowball into a serious financial problem. Credit card debt is one of the most common types of debt because many people use their cards when cash flow is limited, or they depend on credit in the event of an emergency.

Signs of a credit repair scam

If you are overwhelmed by debt, you may be weighing the advantages and disadvantages of filing for bankruptcy or maybe seeking the help of one of the many businesses that purport to repair your credit. This is an important decision, one which may determine many things about how you go about your life for many years. Unfortunately, many credit repair services are merely scams that will leave you in worse financial shape after claiming to help you.

What is the FICO Score 9?

The FICO Score 9 is a credit score, and it's one of the newest versions. The companies that report on credit are always trying to improve the way that they do so to make it more accurate. While these scores do take into account many of the things you'd expect -- your debt, missed payments, lines of credit and more -- it's important not to assume that they never change.