News & Events

Protected: Is Chapter 7 Bankruptcy Right For Me?

Chapter 7 bankruptcy isn’t the right choice for everyone.  Before filing for Chapter 7, ask yourself the following questions:

1. Are you judgment proof even without Chapter 7? What that means is, can your creditors actually get anything from you even if you don’t file for Chapter 7.
2. Will Chapter 7 discharge enough debts to make it worthwhile. Bankruptcy has serious repercussions on your credit that last for a long time.
3. Will you lose more than you gain? When you file for bankruptcy, the bankruptcy court will attempt to liquidate your assets.  Therefore, any property, vehicles, or other valuables you may have may be taken from you if you cannot protect them.

Are you Judgment Proof?

When unsecured creditors attempt to take your money or property they usually must go through the court to do so.  They must first obtain either a wage garnishment or authorization to seize property before they are able to do so.  In many cases, your income itself may be exempt from collection altogether.  For instance if your income is from Social Security, your creditors cannot get at it.

Moreover, oftentimes your creditors simply won’t even try to take your money or property through the courts.  While they may call you or send letters, they won’t be able to actually touch any of your money.

Even with all of that in mind, Chapter 7 may be correct for some people that are otherwise mostly or wholly Judgment Proof.  Chapter 7 can provide a fresh start for many consumers and may be the best option regardless of your income, property, and other concerns.

Will Chapter 7 discharge enough debt?

Certain debts will simply not go away by filing for Chapter 7 bankruptcy.  Child support, alimony, student loans (in most cases), recent income taxes, recent debts, and certain personal injury debts (particularly those arising from DUI cases) will stay with you even if you file for debt.

Other debts may also be non-dischargeable if the bankruptcy judge rules that the creditor can still pursue the debts after bankruptcy.  Your creditors may ask the judge in a bankruptcy case to rule that their debts are special and not subject to discharge.  The judge will then have to determine whether or not to allow those debts to be discharged in Chapter 7.

Finally, do you even have enough debt to make bankruptcy the best option?  While this is more of a case-by-case evaluation, you may be able to get out from under your debt by negotiating directly with the creditor for reduction in the amount of debt you owe, or for a lenient payment plan.

What will you have to give up?

Many assets that are necessary for daily life will be “exempt” from the bankruptcy court – you will get to keep these assets regardless of whether you file for bankruptcy.  Motor vehicles (up to a certain value), homes (also up to a certain value), clothing, household necessities, certain insurance policies, tools of the trade, and various other assets you will get to keep.

However, other assets that are not necessary may be taken by the bankruptcy court, sold, and redistributed for your creditors.  These types of assets may include family heirlooms, additional vehicles and homes, cash, and bank accounts.

Conclusion

Bankruptcy is a major decision that should not be taken lightly.  When deciding whether to file for bankruptcy, it is helpful to ask yourself the three questions above first, and then really start to evaluate whether bankruptcy is right for you.  One of the worst things you can do is rush headlong into a bankruptcy only to realize half-way through that it’s not right for you (if you do this, you may even lose the right to file for bankruptcy again for a period of time)!

Complementary and Alternative Medicine in Child and Adolescent Psychiatry

KEYWORDS

• Complementary and alternative medicine • Health law • Informed consent • Liability

• Medicolegal aspects

KEY POINTS

• All treatment decisions should be made in a child’s best interests. If the child’s parents make a decision, a psychiatrist may not simply override their judgment with his or her own preference, but can report the parents to state authorities or bring the case to court if the psychiatrist believes the child might be harmed by the decision.

• There is no case law regarding the use of complementary and alternative medicine (CAM) in child psychiatry, so the risk of malpractice liability in this setting is minimal. However, any deviation from customary medical practices creates an increased risk of legal liability.

• If CAM therapies are recommended, any known risks, benefits, and alternative treatments should be fully disclosed.

• As is the case with conventional medicine, physicians can reduce their personal liability by practicing good clinical medicine, obtaining informed consent, and comprehensively doc- umenting. Continue reading →

A Wave of High-Profile Court Cases Has Major Impact on the BioPharmaceutical Industry

While the biotech and pharmaceutical industries face ever-increasing intense global competition, there have been numerous, recent, high-profile litigation cases affecting the industry. Consequently, there is ever-increasing pressure on the industry to comply with these new legal mandates. This article provides the author’s thoughts regarding several high-profile litigation cases that are having a major impact on these industries.

Truthful, Non-Misleading Off-Label Promotion of FDA-Approved Drugs

The industry is still feeling the impact of the U.S. Supreme Court’s decision in  Sorrell v. IMS Health Inc., 131 S. Ct. 2653 (2011). The Sorrell decision is having a significant impact on the U.S. Food and Drug Administration’s traditional ban on off-label promotion. In Sorrell, the U.S. Supreme Court affirmed that truthful, non-misleading off-label promotion of FDA-approved drugs is protected under the First Amendment. Consequently, truthful, non-misleading off-label promotion cannot be indiscriminately banned by the FDA. The decision in Sorrell will have a significant impact on how pharmaceutical companies decide to promote their FDA-approved products. No doubt, it is believed that there will be more litigation in the wake of the Sorrell decision, based on controversies about what is deemed to be truthful, non-misleading off-label promotion for individual products that have already received FDA approval. In addition to the Sorrell decision, other recent high-profile decisions are having a major impact on the pharmaceutical industry. Continue reading →

Chapter 7 bankruptcy isn’t the right choice for everyone.

Chapter 7 bankruptcy isn’t the right choice for everyone. Before filing for Chapter 7, ask yourself the following questions:

1. Are you judgment proof even without Chapter 7? What that means is, can your creditors actually get anything from you even if you don’t file for Chapter 7.

2. Will Chapter 7 discharge enough debts to make it worthwhile. Bankruptcy has serious repercussions on your credit that last for a long time.

3. Will you lose more than you gain? When you file for bankruptcy, the bankruptcy court will attempt to liquidate your assets. Therefore, any property, vehicles, or other valuables you may have may be taken from you if you cannot protect them.

Are you Judgment Proof?

When unsecured creditors attempt to take your money or property they usually must go through the court to do so. They must first obtain either a wage garnishment or authorization to seize property before they are able to do so. In many cases, your income itself may be exempt from collection altogether. For instance if your income is from Social Security, your creditors cannot get at it.

Moreover, oftentimes your creditors simply won’t even try to take your money or property through the courts. While they may call you or send letters, they won’t be able to actually touch any of your money.

Continue reading →