Author Archives: BEBdata

Medical Problems & Consumer Bankruptcy

Medical problems contributed to 66.5% of all bankruptcies, a figure that is virtually unchanged since before the passage of the Affordable Care Act (ACA), according to a study published yesterday as an editorial in the American Journal of Public Health. The findings indicate that 530,000 families suffer bankruptcies each year that are linked to illness or medical bills.

The study, carried out by a team of two doctors, two lawyers, and a sociologist from the Consumer Bankruptcy Project (CBP), surveyed a random sample of 910 Americans who filed for personal bankruptcy between 2013 and 2016, and abstracted the court records of their bankruptcy filings. The study, which is one component of the CBP’s ongoing bankruptcy research, provides the only national data on medical contributors to bankruptcy since the 2010 passage of the ACA. Bankruptcy debtors reported that medical bills contributed to 58.5% of bankruptcies, while illness-related income loss contributed to 44.3%; many debtors cited both Read more here.

NADA 2019

We are getting excited about attending the upcoming National Auto Dealers Association annual conference in San Francisco!

The NADA Show Expo is the auto industry’s premier marketplace of products, services and technologies. More than 700,000 square feet of exhibits highlight more than 500 manufacturers and suppliers of the hottest products and coolest technologies.  See you there!!

Shift to Online Buying

This shift to online buying means that customer expectations have changed, which is why multi-channel marketing is now vital. Nowadays, customers expect a 24-hour real-time response, and 81% of customers will take their business elsewhere if their queries are not answered quickly enough.

Percentage of customers will take their business elsewhere
Percentage of customers will take their business elsewhere if their queries are not answered quickly enough.

How does the Means Test Work

The means test determines how much disposable income a person has to pay their creditors. If this number is zero, then there is a good chance you could qualify for chapter 7 bankruptcy. If the number is higher, then you would likely to file chapter 13. In chapter 13 bankruptcy you would then seek to make your available disposable income lower by taking allowed deductions, similar to doing your taxes, on the means test. These deductions are often calculated from your paystubs and include things like your federal taxes, Medicare, social security etc. Therefore, if these amounts are less in the future, then you won’t get as much of a deduction on the means test.
The good news is that a consumer will have more disposable income in which to possibly avoid filing bankruptcy, although for most people, it probably will not make a significant difference. For lower income earners who are already below the median income, the impact from a bankruptcy standpoint will most likely be negligible.

12-Year BK Span

In the 12-year span from October 1, 2005 to September 30, 2017, about 12.8 million consumer bankruptcy petitions were filed in the federal courts. Of those, 8.7 million–68 percent–were filed under Chapter 7, and 4.1 million– 32 percent–were filed under Chapter 13. Nonbusiness filings (i.e., filings involving mainly consumer debt) constituted 97 percent of all Chapter 7 bankruptcies and 99 percent of all Chapter 13 bankruptcies.

Postal Rate Hike Approved

It’s official.  The Postage Rate Hike has been approved and will take effect on January 27, 2019.

Prices were approved raising rates approximately 2.5% across the board. Shipping Service price increases vary by product. For example, Priority Mail Express will increase 3.9 percent and Priority Mail will increase 5.9 percent. Although Mailing Services price increases are based on the Consumer Price Index (CPI), Shipping Service prices are primarily adjusted according to market conditions.

The new prices include a 5-cent increase in the price of a First-Class Mail Forever stamp, from 50 cents to 55 cents.  Click below to review Price Comparisons by Type of Service.

FIRST CLASS COMPARISON – Postal Rate Comparison First Class 2018-2019

MARKETING MAIL COMPARISON – Postal Rate Comparison Marketing Mail 2018-2019

NON PROFIT MAIL COMPARISON – Postal Rate Comparison NP 2018-2019

2019 POSTAL RATE GUIDE – BEB Postal Rate Guide