Main Menu
The Dodds Law Firm, PLC
Surprise, Arizona Attorney
contact us today
Local 623-208-6098
Toll Free 877-827-9906

September 2013 Archives

Credit card legislation has mixed results

Arizona residents may be happier overall with how credit card companies handle their accounts following the implementation of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, but there are still some issues that many users face. One goal of the CARD Act was to ensure that people with credit cards were not being hit with unexpected interest rate increases or an enormous amount of penalties by lenders. As a result of the legislation, many people are paying more than the minimum and the number of payments that are 30 days or more past due has dropped significantly.

Who is responsible for credit card debt after a death?

It is not always clear as to whether relatives of someone who has died are responsible for the credit card debt left behind. According to financial experts and several attorneys, in general, those kinds of debts require the credit card company to make a claim and are not the responsibility of any heirs. The estate of the deceased is responsible for the payment of all of the decedent's debts, which are usually subtracted from the assets of the estate and then distributed according to priority. If the deceased has no assets or the debts are greater than the assets, then the outstanding debt is written off by credit card companies.

U.S. company files for bankruptcy, liquidation

A U.S. trustee recently filed a petition asking a judge to liquidate a beef processing plant that is in the process of filing for bankruptcy. In July 2013, Northern Beef Packers in South Dakota filed for bankruptcy under Chapter 11; the company now hopes to be granted Chapter 7 liquidation.

Dan R. Dodds Dan R. Dodds

At the Dodds Law Firm, I focus my practice on the needs of individuals who have suffered losses because of abusive, deceptive or unfair conduct by others. I also provide comprehensive counsel in all matters related to Chapter 7 and Chapter 13...Read More

The Dodds Law Firm, PLC | 14239 West Bell Road, Suite 108 | Surprise, AZ 85374 | Toll Free: 877-827-9906 | Phone: 623-208-6098 | Map & Directions