We’ve often talked about debt here at Bellah Perez, PLLC — credit cards, mortgages, auto loans, medical debt. It’s become an unfortunate part of modern life. Now, the younger generations are facing serious debt in one specific form: student loans. In fact, Forbes reports that U.S. student loan debt amounts to $1.31 trillion, making it [...]
In June, the Supreme Court ruled that companies who purchase debts and then collect them aren’t held accountable to the Fair Debt Collection Practices Act (FDCPA). The FDCPA protects debtors from third-party overly aggressive actions and unfair collection practices. However, Supreme Court relied on the statute’s wording of “third-party collection”, and found that the FDCPA [...]
We’ve talked at length in past blogs about the dangers of cutting corners when it comes to debt. However, there are several legitimate avenues available to find debt relief. The most common solutions are debt consolidation, debt settlement, and bankruptcy. Nonetheless, before taking action to resolve debt, it’s important to understand each option. Debt Consolidation [...]
The Powerball lottery jackpot reached a staggering number last month, topping out at $758.7 million, amounting to the second largest haul in the contest’s history. The odds of winning were one in 292.2 million. Obviously, with numbers like that, the chances of scoring the jackpot were more than slim. But plenty of average Americans receive [...]
We always conduct an initial consultation with prospective clients. This offers us the opportunity to determine whether an individual actually needs to file bankruptcy, and, if they do, what chapter they should file and if there would there be any issues in with their case. Time and again, I find myself asking my potential clients [...]
One of the scariest things about carrying debt is the threat of a lawsuit. This is because a lawsuit usually leads to a garnishment. In a typical civil, or small claims, lawsuit, a debtor will first be served with a summons and complaint. The complaint outlines the grounds for the lawsuit and the allegations against [...]
As bankruptcy attorneys, we hear lots of stories about how our clients accumulated debt; how they wish to get of debt; and what it is like to live with debt hanging over their heads. One of the most common reasons that our clients wish to file bankruptcy is because they are tired of "robbing Peter [...]
The path to financial freedom can often be stormy and rough. Despite this, many people consider navigating that path completely on their own. We recently learned at a bankruptcy meeting that Arizona is one of the top states for pro se filings (pro se being a legal term for representing oneself). To put that into prospective, [...]
The glorious rapper (and also bankruptcy filer), M.C. Hammer, knew something about things you couldn't touch. Unfortunately for many, one of the types of debt that can't be touched in a bankruptcy are student loans. After Congress amended the bankruptcy laws in 2005, almost any loan issued for an educational benefit (either governmental or private) was [...]
If there is one thing I could suggest to any potential bankruptcy client, or anyone for that matter, it is to avoid credit unions at all costs. Well, at the very least, avoid getting an auto loan and a credit card with your local credit union. This is because most credit unions (and some other [...]
