CONSUMERS STRUGGLING TO MANAGE CREDIT CARD DEBT

A story written on Forbes a while back questioned whether there is a distinction between good and bad credit card debt. For millions of American consumers who needed the assistance of a bankruptcy attorney to eliminate overwhelming credit card debt through personal bankruptcy, credit cards represent delinquent payments, creditor harassment and financial challenges they would [...]

By |2014-11-12T21:11:45+00:00November 12th, 2014|Chapter 13, Chapter 7, Personal Bankruptcy|0 Comments

Older Students May Need Debt Relief From Student Loans

For many people, a college education and student loans have long been synonymous. With student loan debt now at approximately One Trillion dollars and income levels for college degree holders down 14.7 percent, the stage has been set for college graduates entering a struggling economy to be overwhelmed by financial challenges. For many of them, [...]

By |2014-09-24T17:43:10+00:00September 24th, 2014|Chapter 13, Chapter 7, Personal Bankruptcy, Student Loans|0 Comments

Bankruptcy, Divorce and Home Ownership

During a divorce in Arizona and in other community-property states, the parties often decide that one person will keep the family home and continue making payments while the other person will sign over their interest on the home to their spouse. However, if one partner decides to file personal bankruptcy, the mortgage company might not [...]

What Happens When Someone Files For Bankruptcy

When someone living in Arizona files for bankruptcy, they are often doing so because of costly medical bills, having been laid off from a job or simply having a large amount of unsecured debt. There are enormous benefits to filing for personal bankruptcy, but it is not without its costs. After filing, people may need [...]

Preparing For A New Life After Personal Bankruptcy

Arizona residents faced with the difficult prospect of bankruptcy may be interested in some tips for rebuilding credit and recovering from the emotional toll that bankruptcy can take. Bankruptcy is meant to help someone overcome their debt. With time, support and some smart financial moves, it should be possible to ensure a smooth transition out [...]

New Bill Would Help Families Burdened By Medical Debt

The Accuracy in Reporting Medical Debt Act was a new bill that had been introduced in Congress in 2013 aimed at protecting consumers from inaccurate reporting of medical debt to credit bureaus. An estimated 10 percent of all insurance claims are processed incorrectly. Debt collectors often use information about medical debt that is false, incomplete [...]

Adults Usually Not Responsible For Childhood Medical Debts

A visit to the doctor is not something to which most children look forward. Most children are concerned about what the doctor will do to them and not with how the bill is going to be paid. But today, debt collectors are harassing adults for medical debt that was incurred when they were minors. The legal [...]

Financial Challenges Associated With 401(k) Loans

A recent study reported that a quarter of the population has borrowed from their retirement accounts. Borrowing from a 401(k) at an attractive interest rate to pay off high-interest credit card debt could make sense, but there are disadvantages. One risk is the loss of asset protection for the 401(k) in case of a personal [...]

Financial Challenges Bring Debt Collection Abuses

Financial challenges brought on by unemployment and a struggling economy have exposed many Arizonans to abuses by debt collectors and debt collection agencies. The Fair Debt Collection Practices Act was enacted to control debt collection practices that Congress believed were responsible for personal bankruptcy and unwarranted turmoil in the personal lives of consumers.   Stopping [...]

By |2014-08-18T23:32:15+00:00August 18th, 2014|Bankruptcy in Arizona, Personal Bankruptcy|0 Comments

College Students Increasingly Struggle With Credit Card Debt

The struggling economy, unemployment and unexpected life changes have been the cause of financial challenges for many Arizona residents over the past few years. Meanwhile, many college students have struggled with credit card debt that has caused some of them to file for personal bankruptcy, particularly as they have dealt with tuition and diminished job [...]