Debt!! Why it’s important to get out of debt – Ask Steve

Debt!! Why it’s important to get out of debt – Ask Steve

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April 1, 2017
Get out of debt!

Stephen Foondos United Law Center. Get out of debt! Sounds simple, right? No, we know it’s not so easy

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from the United Law Center this and every Saturday from 3-4:00 p.m. for the Ask Steve radio program on NewsRadio KFBK 1530AM when we discuss why it’s important to get out of debt and also what it means when you work with an attorney on contingency. Be sure and check out Stephen’s new legal challenge series that runs every weekday morning at 7:30am on KQCA-MY58 TV. These weekly topics will extend into the radio show where we explore them in more depth. This week’s show will cover:

Interest Rates just were raised again

Get out of debt! Sounds simple, right? No, we know it’s not so easy, but it’s important given the uncertain political climate and major transition happening in our country. Interest rates just were raised again, for the second time this year, and are expected to go up again at least once more in 2017. Rates for mortgage modifications alone have risen from 3.5% to 4.25% since December! The sooner you manage your debt, the better off you are to be ready for a rainy day. Check out this list of easy tips to get started. Think Bankruptcy may be something you should consider? We are here to help. Please call us at 916-367-0630 for a consultation.

Hidden Costs of Contingency Fees – You know the old adage, “It sounds too good to be true?”, well contingency fees can sometimes fit into that category. In workers’ compensation and personal injury cases, like car accidents or other medical claims, attorneys get paid on contingency meaning they don’t charge you for their time spent litigating the case until it is settled in the client’s favor. Sounds great, right? However, in order to properly litigate your case, there could be hard costs, expenses and other fees charged to you for evidence gathering and expert testimony. Make sure you stay in close communication with your attorney so they aren’t incurring these costs, which will be charged back to your case, without your knowledge and buy-in. Otherwise your settlement could be greatly impacted by such costs once the payout for settlement is made. Moreover, if you lose your case, in some instances you could also be responsible for the other side’s attorney costs, in addition to our own. If you have further questions on this, please email us here.

 

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