Arizona Bankruptcy & Foreclosure Blog

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Message from Diane L. Drain

In this blog I will examine financial concerns that affect us all (yes, even those who believe they are financially secure) and to offer a peek behind the ‘financial curtain’. The primary goal of our office is to give our clients what they value most – peace of mind. There are many ways to deal with financial problems, including bankruptcy; but for every good option there are hundreds of scams.

Arizona Bankruptcy & Foreclosure BlogDiane Drain2020-08-27T18:55:06-07:00
2105, 2021

Scott Michael Forrester Disbarred Arizona Bankruptcy Attorney – Effective 5/5/2021

By Diane Drain|May 21st, 2021|Attorneys|Comments Off on Scott Michael Forrester Disbarred Arizona Bankruptcy Attorney – Effective 5/5/2021

SCOTT MICHAEL FORRESTER, DISBARRED BY THE STATE BAR OF ARIZONA.  EFFECTIVE MAY 5, 2021. […]

1705, 2021

Student Advocates Team and others Falsely Promised Services – Now Banned

By Diane Drain|May 17th, 2021|scams, Student Loans|Comments Off on Student Advocates Team and others Falsely Promised Services – Now Banned

Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC (Reprint from Federal Trade Commission, May 17, 2021) The operators of a student loan debt relief scheme are banned from providing debt relief services and have [...]

1705, 2021

Three Arizona Democrats decide that Creditors and Debt Buyers are More Important than Homeowners

By Diane Drain|May 17th, 2021|Consumer Issues|Comments Off on Three Arizona Democrats decide that Creditors and Debt Buyers are More Important than Homeowners

On January 1, 2022, HB2617 will become the law of Arizona.  Your home is no longer protected from your judgment creditors, which will have a devastating effect on Arizona’s consumers, and those hardest hit by Covid-19. This bill was promoted by Ben Toma, House Majority Leader, bought and paid [...]

1605, 2021

Summary of Foreclosure Alternatives – COVID-19 Hardships

By Diane Drain|May 16th, 2021|Deficiency, Foreclosure, Loan Modification|Comments Off on Summary of Foreclosure Alternatives – COVID-19 Hardships

There is so much mis-information about a forbearance of home mortgages during COVID-19.  Know your options before making a decision not to pay your mortgage. (4/1/21 UPDATE - see summary of foreclosure alternatives) This chart provides a summary of relief options available for borrowers facing a COVID-19 related hardships. [...]

1505, 2021

New Law Allows Creditors to Invade Arizona Homestead Protection

By Diane Drain|May 15th, 2021|Consumer Issues|Comments Off on New Law Allows Creditors to Invade Arizona Homestead Protection

On January 1, 2022, HB2617 will become the law of Arizona.  Your home is no longer protected from your judgment creditors, which will have a devastating effect on Arizona’s consumers, and those hardest hit by Covid-19. This bill was promoted by Ben Toma, House Majority Leader, bought and paid [...]

405, 2021

Tenants Can Hold Debt Collectors Accountable for Illegal Evictions

By Diane Drain|May 4th, 2021|Collection companies & Debt buyers, Consumer Issues|Comments Off on Tenants Can Hold Debt Collectors Accountable for Illegal Evictions

CFPB Rule Clarifies Tenants Can Hold Debt Collectors Accountable for Illegal Evictions Bureau Issues Interim Final Rule on Fair Debt Collection Practices Act (reprint April 19, 2021) The Consumer Financial Protection Bureau (CFPB) today issued an interim final rule in support of the Centers for [...]

2504, 2021

Bankruptcy, Explained by John Oliver

By Diane Drain|April 25th, 2021|Bankruptcy, Chapter 7 Bankruptcy|Comments Off on Bankruptcy, Explained by John Oliver

There is so much mis-information about bankruptcy and how it works, or does not work.  Know your options before making any decision to file or not to file bankruptcy or participate in a "debt workout scheme". Below is a YouTube video presented by John Oliver, who does a fairly [...]

2004, 2021

HB2617 is a Trojan Horse – Will Take Away Decades of Protection for Arizona Homeowners

By Diane Drain|April 20th, 2021|Consumer Issues|Comments Off on HB2617 is a Trojan Horse – Will Take Away Decades of Protection for Arizona Homeowners

Arizona Bill wants Judgment Creditor to get paid before homeowners when house is refinanced (something Arizona law has not allowed since mid 1950s). Concerns about Arizona HB 2617, especially with the amendments: will allow old and new judgments to attach to homesteads. What the bill and amendments do:  There [...]

1504, 2021

Possible Change in Arizona Homestead Law & Refinancing

By Diane Drain|April 15th, 2021|Consumer Issues, Excess Sale Proceeds, Real Estate|Comments Off on Possible Change in Arizona Homestead Law & Refinancing

Are you planning on refinancing your home?  If so, you could lose protections from creditors under bill at Legislature Russ Wiles, Arizona Republic, Arizona Republic Interviews Diane L. Drain about Arizona homestead protection and exposure to creditors. Published 6:13 p.m.  MT Apr.  13,  2021 Homeowners who refinance their mortgages [...]

304, 2021

Even if You Are in Prison – File Required Bankruptcy Documents or Your Case Will Be Dismissed.

By Diane Drain|April 3rd, 2021|Bankruptcy, Before filing bankruptcy|Comments Off on Even if You Are in Prison – File Required Bankruptcy Documents or Your Case Will Be Dismissed.

In prison?  If You Are Going to File Bankruptcy, You Must Follow the Rules – No Exception. In re Harrell, BAP No. EC-20-1091-BTL (9th Cir BAP, 3-20-21) Harrell is incarcerated at Folsom State Prison in California. He filed a “skeletal” chapter 7 bankruptcy case on [...]

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