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Posted on Wednesday, 22nd June 2011 by Eden Fryett

An El Paso cancer treatment center is finally up for sale after numerous financial problems that ultimately led to Chapter 7 bankruptcy.

With millions of dollars in debt on the books and several bankruptcy filings in its repertoire, the Center for Integrative Cancer Medicine in western Texas is up for sale. The building where the center was housed has been foreclosed on, just a few years after it opened and then filed for Chapter 11 bankruptcy protection.

El Paso Inc. reports that the center was the brainchild of Dr. Jesus Gomez, who knocked down a motel and put in the high tech medical center, with the latest treatment technology and even areas for meditation.

In April of this year, however, the young center already had financial problems, and filed for Chapter 11 reorganization to try and repay its way out of the financial straits.

The private practice was a risk acknowledged by those in the industry. The high cost of providing health care puts the private practitioner in a particularly risky investment situation.

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Tags: Bankruptcy, El Paso, El Paso Cancer, Paso Cancer
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Posted on Wednesday, 22nd June 2011 by Lucy Hales

Q: Do I have to pay tax after a short sale? I am selling my house short and the neighbor told me that the IRS requires lenders issue form 1099C for all debt that was forgiven. In my case, it is almost $70,000 and paying taxes on that much will be impossible.

A: Is this short sale on your primary residence? If yes, you should be fine, because The Mortgage Debt Relief Act of 2007 does not consider forgiven debt on your principal residence as a taxable income for either short sale or foreclosure. It also applies for debt reduced through mortgage restructuring. This provision is valid for up to $2 million in debt for a married couple, forgiven from 2007 through 2012. If you are single or married filing separately, it is $1 million.

Tags: Short Sale, Tax
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Posted on Wednesday, 22nd June 2011 by Eden Fryett

In the event you need to pay a substantial amount of debt, you might soon begin experiencing messages or calls from collection agencies hired by your creditors. If you are a citizen of New York State, though, you might have particular legal rights according to state guidelines in relation to debt collection agency. For your own proper protection, you ought to familiarize your self with these privileges. Otherwise, you won’t know if your debt collection businesses phoning you are working illegally.

Below are actually legalized issues with regards to a number of the widespread collections concerns for debtors inside NY:

Laws of Limits: A statute of limitations on a debt is the time frame after the very last settlement created throughout which a consumer may be sued properly for payment. In other words, in case a collector (or creditor) contacts a person on the subject of having to pay a financial debt which is older than the time limit, then you have a complete protection and don’t require to pay for.

In NY, the statute of limitations is actually six yrs. for

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Tags: New York, York
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Posted on Tuesday, 21st June 2011 by Toby Duncan

There are many reasons why I love what I do for a living. One of them is being able to work with my partner (soon to be husband) and the other is the amazing clients. I feel so blessed that I get to help people who are in distress and help them. Even now, I get emotional when clients hug me after their 341 hearing.

Here’s an email I received from a client that made me cry. (Reprinted with permission. Name has been changed.)

Hi Jeena!

Just wanted to send a big 6 months post BK thank you out to you, woman. I visit FB occasionally and am glad you are getting your message out there. Also hope that your wedding plans are coming along. Very,very happy for you and Jeff and hope to see you get married just the way you both want it to happen. Post pics!!

Want to let you know that I am so happy that I found you to help me through my terrible year in 2010 when I could barely breathe, and grew a muffin top to boot due to the stress of the economy and its effects on my business. I

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Posted on Tuesday, 21st June 2011 by Lucy Hales

An estimated $60 billion a year is siphoned off from the Medicare program through fraudulent means. The investigation into healthcare fraud has uncovered this and many other shocking facts even as the country gears up to find out more about the various cases filed by the Obama administration in different cities.

Healthcare reforms are an important component of Obama’s political strategy. The Democrat President has been pushing for a complete overhaul of the various programs and schemes sponsored by the government under this heading.

Although the Republicans have been strongly opposed to the focus on healthcare, it is undeniable that this area is one where much of the government expenditure happens. Given the current situation where it is becoming evident that government spending cuts need to be brought in right away, there is clearly a need to stem leaks from heavily sponsored programs such as Medicare.

Nearly 45 million Americans are beneficiaries of the Medicare program. The treatment and health schemes offered under this program are sponsored by various companies that are, in turn, paid by the government from tax payer funds. C

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Tags: Fraud, Healthcare Fraud
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