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Any claim that a debtor may have at the time a bankruptcy case is filed is considered an asset and must be disclosed to the bankruptcy court. This includes lawsuits that are currently pending in court or through an administrative process, and those that are not yet filed. Social Security Disability claims, Worker’s Compensation claims, unemployment claims, class action lawsuits, and personal injury lawsuits are...

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The Washington Times reports that this year’s White House budget projects that the national debt will top $15 trillion in 2011, equaling the size of the entire U.S. economy. By the end of the fiscal year on September 30, the national debt is expected to be $15.476 trillion, or 102.6 percent of the U.S. Gross Domestic Product. The Obama administration also projects that the U.S....

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Recent studies have concluded that, while traffic safety continues to improve overall, prescription drugs are rising as a cause of serious and fatal incidents on our roadways.  Commonly prescribed drugs can cause side effects such as blurred vision, dizziness, headaches or memory lapses.  When a person takes multiple drugs, interactions effects between the prescriptions can cause these and other problems.  Side effect and interaction effects...

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A bankruptcy case is part lawsuit, part financial audit.  The debtor is asking the bankruptcy court to order creditors to accept payments over time, or in some cases to order the discharge of a debt without any payment.  Either way, the debtor is expected to make an accounting of assets, debts, income, and expenses and conclusively prove the debtor’s present inability to repay certain financial...

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Last month the Food & Drug Administration held hearings concerning the safety of tanning beds.  The World Health Organization recently release a report on tanning beds, rating their cancer risk as comparable to that of tobacco smoke and asbestos.  The research was published in the journal Lancet Oncology, and shows a 75% increase in risk of melanoma, the most dangerous and deadly type of skin cancer,...

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A Louisiana judge recently awarded $2.6 million to seven Virginia families whose homes were ruined by sulfur-emitting drywall imported from China, setting the standard for new claims from the thousands of Texas homeowners and renters affected by this product. Tainted drywall from China can cause serious health problems as well as substantial property damage.  The sulfur gases released by the drywall creates a noxious odor...

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