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October 2014 Archives

Settlements with credit card companies

In most cases, credit card companies will negotiate with consumers on past-due amounts to come to a settlement agreement. Some companies advertise services to do this for the consumer, and they can help in some cases. It is important to watch for scams, though, because many companies may attempt to take advantage of consumers or lure them in with false information, such as advertisements to settle debts for pennies on the dollar or guarantees that they will make unsecured debts go away. Some even claim to use a "new government program" to do all of this.

Arizona means testing and Chapter 7 eligibility

Many Arizona residents who file for bankruptcy wish to proceed under Chapter 7, otherwise known as a complete liquidation, as they receive a complete discharge of most unsecured debts following the close of the bankruptcy proceedings while still being able to retain certain types of exempt property. In order to qualify to file under Chapter 7, however, filers must undergo a process called "means testing" to determine if they meet income eligibility requirements.

Juggling debt and retirement in Arizona

Americans over the age of 60 owe $43 billion in student loan debt in addition to an average of $5,347 in credit card debt. These obligations may make planning for retirement difficult. However, there are ways that older Americans can find help dealing with their debt. For those who have taken out student loans to pay for their child's education, it may be possible to ask those children to assume more of that obligation.

Discharge of debt under Chapter 13 bankruptcy

At the beginning of the bankruptcy process, people in Arizona can look forward to having their debts discharged and getting a fresh start. With Chapter 13 bankruptcy, people need to complete a series of steps before earning the discharge. There are a few exceptions to the discharge rule, but Chapter 13 bankruptcy gives debtors release from a wider range of debts than chapter 7.

How does Chapter 7 bankruptcy work?

Arizona residents who are struggling to make ends meet may be curious about how bankruptcy works. When debts mount beyond a person's ability to pay, bankruptcy laws provide some relief by allowing the consumer to discharge some debts and start over with a clean slate. Filing for bankruptcy automatically prohibits most creditors from continuing collection efforts. The bankruptcy clerk will give notice of the filing to listed creditors.

  • 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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