If you're considering debt settlement because of your bleak financial situation, you're not alone. With the average American holding nearly $100,000 in debt, it's no wonder that so many are looking for ways to get out from under the weight of all that debt. Attempting to negotiate and settle is a difficult decision to make [...]
Drowning in debt is stressful all on its own and a position no one expects to find themselves in. Once a debt collector or creditors start harassing you with letters and calls full of threats, we understand it can be downright terrifying. At Wright Law Offices, we are Phoenix bankruptcy lawyers who have dedicated our [...]
Are you inundated with calls from creditors? When you fall behind on bills the calls often start and it's critical you know your rights. An important resource is the Federal Trade Commission's website which includes a copy of the Fair Debt Collection Practices Act. Calling an experienced attorney is a useful tool [...]
Apart from settling a debt, bankruptcy is the only other way to forcibly stop wage garnishing. Wage garnishing is when creditors can take a percentage of your paycheck to pay debt that is owed. In the state of Arizona, the maximum that creditors can garnish from a debtor's pay check is 25%. Filing bankruptcy stops [...]
The average loan debt is thirty thousand dollars per student and more than 25% of people are behind on their payments or have defaulted. However, the Obama administration frowns upon borrowers discharging their government student loan debt by filing bankruptcy. The administration wants to protect the integrity of the federal student loan program. The Brunner [...]
It used to be the case that older Americans were the most stable demographic in terms of finances. However, the last six years or so have made things more difficult for people over 50, and Arizona is no exception with its large numbers of retirees. AARP recently performed a study and found that the risk [...]
Arizona residents who file for Chapter 7 bankruptcy do not necessarily have to surrender annuities or life insurance policies, according to a federal appeals court ruling dating back to 2012. The decision has relatively limited impact nationally because the court relied upon the provisions of Arizona law pertaining to exempt property. A person who seeks [...]
Homeowners in Arizona and across the nation may still pay their mortgages after bankruptcy. After filing for bankruptcy, including Chapter 7 bankruptcy, an individual may wonder if they can refinance their home loan if they remain in their house. The answer will generally depend on the specific circumstances of each individual homeowner. If a court [...]
By Ben Wright of Wright Law Offices. Arizona residents considering bankruptcy need to be aware that there is a difference between a consumer bankruptcy filing and a business bankruptcy filing. In other words, there are different rules that need to be followed depending upon where and how your debts are incurred. Bankruptcy code 11 U.S.C. [...]
Residents of Arizona have not been immune from personal financial challenges caused by the struggling economy. Some have had to file for personal bankruptcy to stop foreclosure on their homes while others have participated in mortgage modification programs. Information is now coming out of foreclosure actions around the country revealing bank practices that have prevented [...]