If you have been a victim of violent crime in Texas, you may be entitled to a cash award from the Texas Crime Victim’s Compensation Fund. And it is flush! The total amount that it has for victimized Texans is now $1,000,000,000! That’s billion with a “B.”

You can be eligible for up to $50,000 if you are a violent crime victim in Texas, and another $75,000 if you are totally and permanently disabled.

An excerpt from the Texas Attorney General’s website reads as follows:

The Crime Victims’Compensation Program is administered by the Office of the Attorney General and is dedicated to ensuring that victims of violent crime are provided financial assistance for crime-related expenses that cannot be reimbursed by insurance or other sources.

State law requires that reimbursement first be sought from other sources, such as health insurance, Medicaid, Medicare, auto insurance, or Texas Workers Compensation. CVC program staff assists applicants in coordinating the use of all available resources.

Claims may be approved for benefits up to a total of $50,000. Individuals who suffer total and permanent disability as a result of the crime may qualify for an additional $75,000, which may be used for specific and limited expenses, such as lost wages, prosthetics, rehabilitation or making a home accessible, depending upon the law in effect on the crime date.

The financial assistance may be limited or unavailable depending on laws in effect when the crime occurred and is dependent upon the applicant providing necessary and required documentation.

For More Information

In your community, contact your local law enforcement agency’s Crime Victim Liaison or your prosecutor’s Victim Assistance Coordinator.

Or e-mail:crimevictims@oag.state.tx.us or Call (800) 983-9933 or (512) 936-1200 (in Austin) or Fax: (512) 320-8270.

The article explains that even though it is not a must to be out of debt at retirement, it is an excellent idea. I have had a number of older folks come in recently that have a lot of equity in their home, but no money to pay the mortgage.

While I’m not usually a fan of “reverse mortgages,” that is one option if you are over 62, have a lot of home equity and either can’t pay the mortgage anymore, or just need the money, and don’t want to move.

I’m shocked by the number of people that come in that are in their 60′s and have just taken out a mortgage. And they are about to retire, or they’ve already retired. What are they thinking? In some cases, the folks had sizable retirement plans until the recent stock collapse changed their plans.

I think home ownership is overrated, particularly if you are older. Who needs the headache of lawn care, pest control, things breaking, having to clean a larger place, etc. I’m for renting after you reach a certain age, and not worrying about things. You can’t take it with you!

But a lot of the debt older folks get into is credit card debt. Some borrow it to help their children. Some use it for necessary medical bills or prescriptions. Others were working, but lost their jobs and have been using the credit cards to live on, until they find that new job.

Unfortunately, for some older folks, there may not be a new job, at least one like they had. And they’ll be lucky to get health insurance. They way the health care system is now, older workers just cost too much to insure.

My advice to older folks that find themselves in debt over their head: if there is no other reasonable option, go ahead and file bankruptcy.

View from Max Gardner's Farm, No. Carolina

The American Bankruptcy Institute (ABI) reported recently that the July 2009 consumer bankruptcies reached the highest monthly total since the Bankruptcy Code was reformed in 2005, according to the records of the National Bankruptcy Research Center (NBKRC). The July 2009 total was a 34.3% increase over a year ago, and an 8.7% increase over June 2009 filings of 116,365. Chapter 13′s are about 28.3% of all consumer cases, with the rest Chapter 7′s.

Obviously, the economy is pushing a lot of people into bankruptcy, with job layoffs and downsizing. I also see a lot of medical debt and people that can no longer work because of medical issues and disability.

One prospective client that came to see me with a chronic, life-threatening disease was told by his car finance company to “go ahead and die,” so that they could repossess his car. It’s really pitiful when one human being treats another like that.

Yours truly in the law office

It may be coincidental, but I had two clients last week that are having to file bankruptcy just for medical debt.

One fellow had $90,000 in medical debt, because he was between jobs and had an accident that put him in the hospital. A big local hospital Memorial Hermann sued him and got a judgment against him for it, and he had no way to pay it back.

Another very young lady, here in this country studying at college, had to have her appendix removed, and two days in the hospital without insurance resulted in a $60,000 hospital bill, plus bills from all the doctors and laboratories that are still coming in. She may also need to file a bankruptcy, or face a lawsuit or years of debt collector calls.

I don’t know what the best answer is for this country, whether it is President Obama’s plan or something else. But something should be done so that people get the medical help they need, and the expense is covered so that they don’t have to file bankruptcy. I also don’t understand the incredible cost of medical procedures and hospital stays, but I’ll save that for another blog.