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July 2013 Archives

What is a debt to credit limit ratio

Arizona residents who are trying to improve their credit rating or build a good credit history should keep track of their debt to credit limit ratio. Having a good credit score involves more than just paying off credit card debt in a timely manner; it also involves not using most of someone's available credit. Individuals may assume that if they have a credit card with a high credit limit, as long as they make regular payments, their credit rating will improve even if they stay close to the card's limit.

Minimizing negative credt impacts of divorce

Divorcing couples in Arizona often face financial challenges surrounding the division of liabilities as well as assets. Mortgage loans, for example, present difficulties when attempting to reach an equitable division of property. In many cases, Chapter 7 bankruptcy may provide relief from some of these struggles.

Proposed best practices for medical debt collection on horizon

In the wake of growing concerns about healthcare, lawmakers are working to create legislation governing the way healthcare providers collect debts. Providers and debt collectors are aware of this push, resulting in a joint effort by the two largest organizations behind these professions to create proposed best practices for collecting debt incurred from medical expenses. Those two organizations recently presented the proposed standards to members. A Medical Debt Task Force made up of representatives from both of these organizations, medical providers, credit bureaus, credit agencies and patient advocate organizations created the proposal, which will not be mandatory but is expected to become standard.

Bankruptcy filed by "Gossip Girl" star

Arizonans who follow celebrity news may have heard that Kelly Rutherford, an actress from the popular show "Gossip Girl," is reportedly filing for bankruptcy after a custody battle and a divorce. The actress is reportedly looking at almost $2 million in legal fees and other costs associated with her divorce and custody issues. It is also reported that her income level has dropped substantially and that she is presently making under $1,300 a month whereas she was previously making $486,000 a month.

  • MCBA | Maricopa County Bar Association
  • State Bar of Arizona
  • ABA | American bar Association | Defending Liberty Pursuing Justice
  • Oregon State bar
  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
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The Dodds Law Firm, PLC, is located in Surprise and serves clients throughout the West Valley area. To schedule a consultation with a lawyer, call 623-208-6098 or toll free at 877-827-9906. You can also contact us online.

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