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August 2014 Archives

Proving the validity of a debt in Arizona

When a creditor calls demanding payment for a debt, is that person obligated to pay? The answer to that question depends on whether or not the debt is valid. Those who are contacted by creditors regarding an alleged unpaid debt may request proof that the person actually owes that money. However, this request must be made in writing. It also must be made within 30 days after the creditor makes a request for payment.

Filing for bankruptcy in Arizona

People in Arizona may benefit from learning more about how to qualify for Chapter 7 bankruptcy. According to federal Bankruptcy Code, certain types of business entities, corporations, partnerships and individuals may qualify as the petitioning debtor. Debtors are required to pass a means test in order to qualify for the relief provided under Chapter 7 status. The selection process is based on calculating whether a presumption of abuse is apparent in the accumulation of debt.

FICO updates may help Arizona borrowers

Updates to the way FICO scores are calculated could increase the median credit score of individuals with unpaid medical debts on their credit reports. The recent update is aimed at helping lenders determine who the riskier borrowers are while acknowledging that medical debt is usually obtained under different circumstances than credit card debt or mortgage debt. It also aims to help people who may immediately pay off medical debt that they previously did not know about.

The bankruptcy discharge date

Arizona residents might be interested in knowing more about when a bankruptcy actually takes effect. A recent article discusses the discharge date for both Chapter 7 and Chapter 13 bankruptcy. The discharge date is when a debtor is no longer required to make payments to creditors and certain debts are discharged entirely. The article suggests that the date depends on which type of bankruptcy the petitioner filed.

  • 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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