Archive for 2011

Southlake Aviation LLC Seeks Bankruptcy Protection

Southlake Aviation LLC which is backed by Texas  millionaire David Disiere filed for bankruptcy protection last week in Texas.

With little explanation of its financial situation, Southlake Aviation LLC sought Chapter 11 protection on March 30, estimating its assets and liabilities were both valued between $50 million and $100 million. The company is based in Irving, Texas.

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Who Files for Disability?

What are some of the conditions that individuals file disability claims for?  Regarding mental impairments (psychological and psychiatric), disability applications often include some of the following problems: bipolar disorder, major depression, schizophrenia, low IQ, personality disorder, anxiety disorder, panic attacks, autism, Asperger’s, and mental retardation.

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Who Files for Disability?

What are some of the conditions that individuals commonly file disability claims for? Regarding physical impairments, individuals often cite the following problems: osteoarthritis and other forms of arthritis (such as rheumatoid arthritis), heart problems, high blood pressure, diabetes, diabetic neuropathy, MS, irritable bowel syndrome, crohn’s disease, peripheral artery disease, various forms of cancer, eye problems, hearing problems, epilepsy, asthma, COPD, reflex sympathetic dystrophy, muscular dystrophy, and meniere’s disease.

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Republican House Files Bills to End HAMP

Once again House members have threatened middle-class America with new legislation that would end HAMP. It is not enough to target their jobs with anti-worker union busting tactics, threats, and violations of the democratic process through late night secret passage of legislation. Now some Republican House members have introduced two bills that President Obama has promised to veto.

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Change Coming To ADA

For the first time in more than 20 years, regulations governing the Americans with Disabilities Act are getting a major overhaul.

Starting Tuesday new rules go into effect covering everything from building design to what qualifies as a service animal.

Notably, the new ADA regulations will include first-ever accessibility requirements for swimming pools, parks, golf courses, boating facilities, exercise clubs and other recreational facilities.

What’s more, going forward, only trained dogs will be eligible for use as service animals.

While service dogs can provide a ...

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Borders Extension Request Approved

Tuesday a judge granted Borders a 90-day extension to determine how many additional stores it will close as it reorganizes under bankruptcy protection.

Borders said in February, that it planned to close 200 stores. It now seeks to close up to 75 more, although the number is likely to be closer to 20 to 25, Borders spokeswoman Mary Davis said.

The Ann Arbor, Mich., company will receive more time to negotiate with landlords, confirmed Borders Attorney David Friedman. The 90-day extension gives ...

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Social Security Disability Information Guide

Disability is something most people do not like to think about. But the chances that you will become disabled probably are greater than you realize. Studies show that a 20-year-old worker has a 3 in 10 chance of becoming disabled before reaching retirement age.  We offer an informational guide to Social Security Disability:

Social Security Disability Information Guide

We provide basic information on Social Security disability benefits and these articles are not intended to answer all questions. For specific information about ...

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Check Out Machi & Associates, P.C.

Machi & Associates, P.C. is spreading across the Web. See us on Twitter, facebook, YouTube, feedburner, and more.
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Bill Calls for Free Consumer Access to Credit Score

Easily knowing one’s credit score for free might affect a consumer’s efforts to correct errors or improve the score, an expert in bankruptcy said Thursday about a bill introduced Thursday by U.S. Rep. Steve Cohen.

The Tennessee Democrat wants consumers to get a free copy of their scores each year by asking for them, not just when they’re turned down for credit or receive a higher interest rate or unfavorable terms on loans as is provided by last year’s ...

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Borders Files for Bankruptcy

Borders, the 40-year-old chain that helped define the age of the book superstore, filed for bankruptcy protection on Wednesday, a widely expected move after years of increased competition, declining sales and months of missed payments to its vendors.

Publishers, who have anticipated the bankruptcy filing for months, said they hoped that it would be a chance for the beleaguered bookseller to reinvent itself. But they were also skeptical that the company’s deep-rooted problems could be overcome.

Borders, which began in 1971 as ...

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Congressman Files for Bankruptcy

A Texas congressman on the House Financial Services Committee has filed for personal bankruptcy, saying the problem is a loan he guaranteed for his family meat company, which went bankrupt. According to court documents, Representative Rubén Hinojosa, a Democrat, has $2.9 million in liabilities, and nearly $1.5 million in assets. Most of the debt, $2.6 million, is a claim by Wells Fargo Bank. The financial services panel has jurisdiction over legislation affecting banks. House aides and ...

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Disability in Michigan

Diagnosed with multiple sclerosis at 34 and unable to take the medicine that could slow the disease, she lost her job as a secretary and applied for Social Security benefits in early 2009. Three months later, her claim was rejected for lack of medical proof.

“I just felt more overwhelmed,” said Young of Redford Township. After Young hired an attorney, her claim was approved in January — just before the savings she and her husband were living off of ran ...

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Spike in Disability Claims Clogs Overloaded System

Nearly 2 million people are waiting to find out if they qualify for Social Security disability benefits. It will be a long wait for most, even if they eventually win their cases.

The Social Security system is so overwhelmed by applications for disability benefits that many people are waiting more than two years for their first payment. In Ohio, Michigan, Minnesota and other states, the wait can be even longer.

The Social Security commissioner, Michael J. Astrue, says the delays are unacceptable, ...

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Bankruptcy and Social Security Benefits.

I filed for Chapter 13 bankruptcy after being laid off. Do Social Security benefits count as income in bankruptcy, or are they protected?

Your benefits are protected. Social Security is excluded from the calculation of disposable income when setting up a debtor repayment plan.

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Machi & Associates TV Commercials

Many of our TV Commercials can be found on YouTube.

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How Long Will Social Security Disability Benefits Continue?

I am 56 and receive Social Security disability benefits. At what point will I switch to regular Social Security? Will the monthly amount change?
When you reach full retirement age, your disability benefits will automatically convert to retirement benefits. The amount will remain the same.

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Bankruptcies Up for Older Adults

When the economy tanked in 2008, Alvin Ferdinand depleted his retirement nest egg and maxed out his personal credit cards trying to save his Michigan business. At age 64, he says, he had no choice but to file for bankruptcy, losing the three assisted living facilities he owned and administered.

Irene Froehlich, 61, dutifully paid her credit card bills on time, even after her commission-only income fell by 75 percent two years ago. But when the credit card companies ...

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