|
|
|
|
 Preshow #1bankruptReturn to index of stories... |
Drowning in Debt -- A NH couple desperately seeks a Fresh financial start after going Broke. In this Outlook on Money report: The Bankruptcy Boom. That's NOW, on NH Outlook. |
| Hello/Intro Rush Return to index of stories... |
Hello. I'm Beth Carroll. Welcome to New Hampshire Outlook. The number of Bankruptcies are on the rise. More than 2-million Americans filed for bankruptcy in 2005. It's estimated 1 in 7 families are on the brink of financial collapse-- just one layoff, medical crisis or divorce away from financial disaster. In 2005 -- There were 6,058 bankruptcy filings in NH. Up 32% from the previous year. Close to 30-percent of those filings came in October alone. That's when tough new Bankruptcy laws kicked in -- prompting an unheard of rush on bankruptcy courts. As the October 17-th deadline approached.indebted consumers scrambled to get protection from creditors before filing got more expensive and complicated. Lawyers were swamped everywhere. Concord Attorney Sandy Kuhn says she ended up sleeping at her Dover Office because the workload was so steep. |
| Intro Bankruptcy Return to index of stories... |
Why are so many people teetering on financial ruin? In this "Outlook on Money" report -- we look at the soaring rate of bankruptcy - the role credit cards play -- and how the new laws have changed the equation. We begin. with the anatomy of a Bankruptcy. TAKE SOT FULL/Outlook on Money |
| Tag Bankruptcy Return to index of stories... |
Even if Josh & Melissa's Chapter 7 Bankruptcy petition is approved, they still have that 58-thousand dollar debt for school loans hanging over their heads. They have a 30-year payoff plan, that's graduated so they can start with smaller payments and increase the amount over time as their income rises. Josh and Melissa say they plan to include the expense in their monthly budget. |
| Intro Conversation Return to index of stories... |
According to Harvard Researchers, 40-Percent of American families spend more than they make each year --relying on Credit cards to make ends meet. All it takes is a temporary job loss, divorce or huge medical bill to drive consumers over the edge. Here to talk about Bankruptcy, Credit Cards, and how new federal laws have changed the landscape: Peter Wright, Director of Clinical Programs at the Franklin Pierce Law Center, Kerry York, the Executive Director of Consumer Credit Counseling Services of NH & VT, and Sandy Kuhn, Director of the Bankruptcy Department at Family Legal in Dover. Welcome to all of you. Q KERRY YORK: You're on the front lines. The First stop for many DROWNING in debt. When someone comes into your office -- what's the drill? Q Under new Bankrupcy laws there is MANDATED credit counseling. What does that ENTAIL? Q SANDY: How do you know if Bankruptcy Is the Right Solution to Your Debt Problems? a debt-repayment plan wouldn't work Q PETER: Josh & Melissa Doucette. Didn't own a house -so, they couldn't lose it. The Biggest fear of filers -- will I lose my home? How REAL is that fear? ** What about those buying homes they can't afford -- no interest loans. Foreclosures DOUBLED since 1980. Expect more bankruptcies because of that ??? Q KERRY: What is the ROLE of credit cards in all this? Q PETER: I was struck by this: If you have a $1,000 balance on a credit card with 18 percent interest, and you just pay the minimum balance every month, it'll take you 12 years to pay off this DEBT. HOW costly A MISTAKE is that??? ======== INTRO SOT/ BETH: There's a dirty little secret about Credit Cards called "Universal Default." Even if you make your credit card payments on time, the bank can RAISE your interest rate "automatically" if you're LATE on payments elsewhere -- or, they think you've taken on TOO much debt. Josh and Melissa-- the Dover couple we spoke to-- found that out the hard way: Q Safe to say most card holders are unaware of this. ** Can you negotiate better rates with banks ? |
| Bankruptcy Conv Return to index of stories... |
====== Q SANDY: Harvard Study: Costly ILLNESSES trigger HALF of ALL personal bankruptcies. It's Not just about those "running up" their credit cards??? **Sandy/ what are you seeing in your office? ** Health protection offers no protection against ending up in bankruptcy court Q KERRY: Avg filer is 41 -- more than half are college educated. Can you give us a sense as to who SEEKS out counseling? Q PETER: Have the new Bankruptcy laws SLASHED the number of Bankruptcies and forced more filers to "deal with" their debt? Q PETER: How have new Bankruptcy laws changed the picture? Q SANDY/PETER: Are you seeing more people that can REPAY their debt. filing for chapter 13 ? ** Has the use of a MEANS test changed anything??? Q SANDY: What do you need from those FILING for bankrutpcy? q PETER: At the Law center you do pro-bono work -- for those unable to PAY the bankrutpcy fees. So, for those who haven't filed because they can't pay the FEE.there is help available??? Q Bankruptcy MARS your credit for 10 years. Can you still get credit?? No safety net. Child care, car payments, college tuition, and house payments NOT optional expenses -- pushing families to the limit. Q Is Average family without a SAFETY net. ============= Q Advice on AVOIDING bankruptcy -- Like your OPINIONS. 1 Get a home equity line of credit before anyone in your family gets sick -- use it as safety net only. SMART??? 2 Make sure family has DISABILITY insurance.if you can no longer work you'll have money coming in. 3 What about signing up for direct-DEBIT payment plans ? GOOD iDEA?? 4 Maintain a realistic monthly BUDGET to keep track of your finances. ** stick to ONE credit card if you can. My thanks to: KERRY YORK, PETER WRIGHT,AND SANDY KUHN |
| Meilissa SOT Return to index of stories... |
There's a dirty little secret about credit cards called "Universal Default." Even if you make your credit card payments on time, the bank can RAISE your interest rate "automatically" if you're LATE on payments elsewhere -- or, they think you've taken on TOO much debt. Josh and Melissa-- the Dover couple we spoke to-- found that out the hard way: Safe to say most card holders are unaware of this. Can you negotiate better rates with banks? |
| Web Pointer Return to index of stories... |
For more information on bankruptcy and links to our other "Outlook on Money" stories Log on to our website at nhptv.org/outlook. You can also find all of our New Hampshire Outlook programs online on-demand. |
| Goodnight Return to index of stories... |
That concludes this edition of New Hampshire Outlook. Thanks for watching. I'm Beth Carroll. I'll see you next time. |
| key: Consumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 1/30/06 HOST: Beth Carroll Length: 2:00 minutes Drowning in Debt -- A NH couple desperately seeks a Fresh financial start after going Broke, in this Outlook on Money report: The Bankruptcy Boom. That's now on NH Outlook. Hello. I'm Beth Carroll. Welcome to New Hampshire Outlook. The number of Bankruptcies are on the rise. More than 2-million Americans filed for bankruptcy in 2005. It's estimated 1 in 7 families are on the brink of financial collapse-- just one layoff, medical crisis or divorce away from financial disaster. In 2005, there were 6,058 bankruptcy filings in NH. Up 32% from the previous year. Close to 30-percent of those filings came in October alone. That's when tough new Bankruptcy laws kicked in prompting an unheard of rush on bankruptcy courts. As the October 17-th deadline approached indebted consumers scrambled to get protection from creditors before filing got more expensive and complicated. Lawyers were swamped everywhere. Concord Attorney Sandy Kuhn says she ended up sleeping at her Dover Office because the workload was so steep. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Sandy Kuhn\Dir. of Bankruptcy Dept.\Family Legal |
| key: Crime / Legal Issues / Law Enforcement Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 1/30/06 HOST: Beth Carroll Length: 2:00 minutes Drowning in Debt -- A NH couple desperately seeks a Fresh financial start after going Broke, in this Outlook on Money report: The Bankruptcy Boom. That's now on NH Outlook. Hello. I'm Beth Carroll. Welcome to New Hampshire Outlook. The number of Bankruptcies are on the rise. More than 2-million Americans filed for bankruptcy in 2005. It's estimated 1 in 7 families are on the brink of financial collapse-- just one layoff, medical crisis or divorce away from financial disaster. In 2005, there were 6,058 bankruptcy filings in NH. Up 32% from the previous year. Close to 30-percent of those filings came in October alone. That's when tough new Bankruptcy laws kicked in prompting an unheard of rush on bankruptcy courts. As the October 17-th deadline approached indebted consumers scrambled to get protection from creditors before filing got more expensive and complicated. Lawyers were swamped everywhere. Concord Attorney Sandy Kuhn says she ended up sleeping at her Dover Office because the workload was so steep. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Sandy Kuhn\Dir. of Bankruptcy Dept.\Family Legal |
| key: Consumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 1/30/06 HOST: Beth Carroll Length: 8:50 minutes Drowning in Debt -- A NH couple desperately seeks a fresh financial start after going Broke, in this Outlook on Money report: The Bankruptcy Boom. That's now on NH Outlook. Across the country bankruptcy courts saw 20-thousand filers a day. Why are so many people teetering on financial ruin? In this "Outlook on Money" report we look at the soaring rate of bankruptcy, the role credit cards play, and how the new laws have changed the equation. We begin with the anatomy of a Bankruptcy. Even if Josh & Melissa's Chapter 7 Bankruptcy petition is approved, they still have that 58-thousand dollar debt for school loans hanging over their heads. They have a 30-year payoff plan, that's graduated so they can start with smaller payments and increase the amount over time as their income rises. Josh and Melissa say they plan to include the expense in their monthly budget. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Josh Doucette \Dover, Melissa Doucette\Dover, Sandy Kuhn\Dir. of Bankruptcy Dept.\Family Legal |
| key: Consumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 1/30/06 HOST: Beth Carroll Length: 15:30 minutes Drowning in Debt -- A NH couple desperately seeks a Fresh financial start after going Broke, in this Outlook on Money report: The Bankruptcy Boom. That's now on NH Outlook. According to Harvard Researchers, 40-Percent of American families spend more than they make each year --relying on Credit cards to make ends meet. All it takes is a temporary job loss, divorce or huge medical bill to drive consumers over the edge. Here to talk about Bankruptcy, Credit Cards, and how new federal laws have changed the landscape: Peter Wright, Director of Clinical Programs at the Franklin Pierce Law Center, Kerry York, the Executive Director of Consumer Credit Counseling Services of NH & VT, and Sandy Kuhn, Director of the Bankruptcy Department at Family Legal in Dover. Welcome to all of you. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Kerry York\Executive Director\Consumer Credit Counseling Service of NH-VT, Peter Wright\Dir., Clinical Programs\Franklin Pierce Law Center, Sandy Kuhn\Dir. of Bankruptcy Dept.\Family Legal |
| key: Crime/ Legal Issues / Law Enforcement Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 1/30/06 HOST: Beth Carroll Length: 15:30 minutes Drowning in Debt -- A NH couple desperately seeks a Fresh financial start after going Broke, in this Outlook on Money report: The Bankruptcy Boom. That's now on NH Outlook. According to Harvard Researchers, 40-Percent of American families spend more than they make each year --relying on Credit cards to make ends meet. All it takes is a temporary job loss, divorce or huge medical bill to drive consumers over the edge. Here to talk about Bankruptcy, Credit Cards, and how new federal laws have changed the landscape: Peter Wright, Director of Clinical Programs at the Franklin Pierce Law Center, Kerry York, the Executive Director of Consumer Credit Counseling Services of NH & VT, and Sandy Kuhn, Director of the Bankruptcy Department at Family Legal in Dover. Welcome to all of you. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Kerry York\Executive Director\Consumer Credit Counseling Service of NH-VT, Peter Wright\Dir., Clinical Programs\Franklin Pierce Law Center, Sandy Kuhn\Dir. of Bankruptcy Dept.\Family Legal |
| key: UNH Return to index of stories... |
no UNH stories |
| st extra Return to index of stories... |
NH has one of the highest overall debt levels in the nation. Debt level and bankruptcies have risen together in the past decade. Wracking up credit card debt - puts you at a much "higher" risk of bankruptcy. Living in a society obsessed with the idea of charge and consume makes falling into credit card debt - an easy trap. |
| Tonight 7:30 Return to index of stories... |
Tonight on New Hampshire Outlook: Join us tonight at 7:30 only on New Hampshire Public Television. |
| WEB PROMO Return to index of stories... |
Tonight on New Hampshire Outlook. . Tonight at 10pm on New Hampshire Public Television. |
| web briefs Return to index of stories... |
GET A WHOLE NEW OUTLOOK WEEKNIGHTS @ 7:30 P.M.! JANUARY 30 - FEBRUARY 3, 2006 www.nhptv.org/outlook MONDAY, JANUARY 30 Outlook on Money: Bankruptcy More than two million Americans filed for bankruptcy in 2005. Experts estimate that as many as one in seven families are on the brink of financial collapse-one layoff, medical crisis or divorce away from financial disaster. In the past decade, consumer debt and bankruptcy have risen together. And New Hampshire residents have one of the highest overall debt levels in the country. In this Outlook on Money special, host Beth Carroll looks at the newly enacted federal bankruptcy laws, and talks with local experts who offer advice on what to do if you're drowning in debt. The program will feature a Dover couple who recently filed for bankruptcy. They talk about the events leading up to their decision, and the filing process. Local experts, including Sandy Kuhn, a bankruptcy attorney from Concord, will discuss ways to avoid debt and examine the impact of the new laws. TUESDAY, JANUARY 31 Justice Nadeau In December, Justice Joseph Nadeau retired after 37 years on the bench, including the last five on the New Hampshire Supreme Court. He's leaving before the mandatory retirement age to spend more time helping jurists in other countries establish the rule of law. Recently, he worked with Iraqi jurists on crafting the new Iraqi constitution. Outlook's Richard Ager brings us a profile of a man with a lifelong mission with the law. http:/www.courts.state.nh.us/supreme/meetnadeau.htm Court Listening Sessions The 100-member Citizen's Commission on the Courts has completed its final public listening session. The commission is examining all aspects of the state's courts and ways to improve them. Outlook's Richard Ager talked with the commission's co-chairs, Kathy Eneguess and Will Abbott, to find out what they've been hearing from citizens around the state. http:/www.nhcitcourts.org/ WEDNESDAY, FEBRUARY 1 North Country Economy The recent announcement that Groveton Paperboard would shut down came as a shock to its 108 workers, but it's an all too familiar development in the North Country. The region's economy has long relied on its natural resources -- in particular forest products -- and the closure has renewed calls for diversification of its business base. Outlook's Richard Ager visited Groveton to see what is being done for the workers, and what initiatives might make for a more stable economic base for the area. THURSDAY, FEBRUARY 2 NH Originals: The McDonald Brothers This week, NH Outlook launches a new series about our state's "innovators and instigators." NH Originals will explore the lives of individuals who have had a major impact on the quality of life in New Hampshire, the country and even the world. The series airs Thursdays in February and will be featured periodically on Outlook. In the premiere of NH Originals, host Beth Carroll brings us the story of the McDonald brothers. Richard and Maurice McDonald had dreams of making it big in Hollywood. Instead, the brothers from Manchester opened a restaurant in San Bernardino, California and "McDonalds" was born. The brothers' focus on the technology of creating "fast food" changed the American way of eating. Bode Miller For over seven years, Portsmouth filmmaker Bill Rogers has been documenting the life and success of New Hampshire athlete Bode Miller. In February, the internationally celebrated skier will return to the Winter Olympics in Torino, Italy. Rogers, who recently released his documentary, "Bode Miller: Flying Downhill," will be there, too. We talk with Rogers about what went into the project and learn about the young man who stars in the film. "Bode Miller: Flying Downhill" will air on NHPTV on Saturday, February 4 @ 8 p.m. Flying Downhill: www.flyingdownhill.com Coruway Film Institute: www.mv.com/ipusers/coruway/main.htm FRIDAY, FEBRUARY 3 Friday Journalists Roundtable Journalists from around the state discuss the week's top stories. Guests: TBA |
| voice overs Return to index of stories... |
Monday, January 30th: Coming up: Outlook on Money and filing for bankruptcy. Details on how to avoid it NEXT. I'm Beth Carroll join me for NH Outlook. Tuesday, January 31st: Coming up: former Associate Supreme Court Justice Joseph Nadeau on what's next in his life. I'm Beth Carroll that's straight ahead on New Hampshire Outlook. Wednesday, February 1st: Coming Up: with the closing of a North Country paper mill we look at what's next for workers and the state of the economy in the region. Ahead on NH Outlook. Thursday, February 2nd: Coming Up: "NH Originals" and the story of the McDonald brothers-- the Manchester men credited with starting the fast-food chain. Details Next on NH Outlook. Friday, February 3rd: Coming up: Journalists from around the state join me to discuss this week's top stories. I'm Beth Carroll New Hampshire Outlook is next. |
| website Return to index of stories... |
For information on our program, and links to our guests and interviews, visit our web site at nhptv.org. You can see and hear streaming video of our broadcasts. We want to know what's on your mind. Join our discussion forum and tell us what you're thinking. If you have a story idea or comment on our program, click the feedback button. Or, call us at 800-639-2721. |
| Releases Return to index of stories... |
Have releases for Kerry J. York and Peter S. Wright for Show |