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July 2014 Archives

Fed crackdown may help Arizona debtors

When an old debt is not paid in a timely manner, it may be purchased by debt collection companies for pennies on the dollar. However, there are rules that debt collection companies must follow when trying to collect a past due balance. According to a lawsuit by the Consumer Financial Protection Bureau against Frederick J. Hanna & Associates, the company filed 350,000 lawsuits without checking to see if the person being sued was the one who owed the debt.

Creditors may seize some financial assets

Arizona credit card holders who have trouble making their payments due to job loss, divorce, medical expenses or other unforeseen circumstances may worry about the safety of their retirement funds if they default on their credit card agreement. Banks and other creditors must go through a process before they are able to garnish wages or seize funds from a bank account. In most cases, though, retirement accounts are exempt from such seizures.

Can medical debt affect credit worthiness?

Some Arizona residents may have experience dealing with different forms of medical debt. According to the Consumer Financial Protection Bureau, recently published research indicates that having medical debt may inadvertently cause lenders to underestimate someone's credit worthiness. Another study performed by the Federal Reserve Board is said to have found that more than half of all collections in credit reports are associated with medical debt.

Creditor harassment subject of lawsuit against Kohl's

Arizona residents who are being harassed by creditors may be interested in a Michigan woman's response to overdue charges at Kohl's, the well-known department store chain. The woman has filed a lawsuit against Kohl's for unfair collection practices in relation to the bill.

  • 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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