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
1804, 2022

Busting myths about bankruptcy and private student loans

By Diane Drain|April 18th, 2022|Bankruptcy, Student Loans|Comments Off on Busting myths about bankruptcy and private student loans

Education Loans Can Be Discharged in Bankruptcy Busting myths about bankruptcy and private student loans By Robert G. Cameron – APR 12, 2022 (Reprint from Consumer Financial Protection Bureau "www.CFPB.gov".  The following is an excerpt from Mr. Cameron's article.) What is behind the perception that student loans cannot be [...]

1604, 2022

ARIZONA IS ONE OF 2 STATES THAT WILL TAKE YOUR TAX REFUND IN BANKRUPTCY.  SHOULD THE LAW CHANGE?

By Diane Drain|April 16th, 2022|Bankruptcy, Consumer Issues|Comments Off on ARIZONA IS ONE OF 2 STATES THAT WILL TAKE YOUR TAX REFUND IN BANKRUPTCY.  SHOULD THE LAW CHANGE?

ARIZONA IS ONE OF 2 STATES THAT WILL TAKE YOUR TAX REFUND IF THIS HAPPENS.  SHOULD THE LAW CHANGE? By RUSS WILES, Arizona Republic (reprinted for educational purposes only) Tens of millions of Americans look forward to income-tax refunds as a way to pay down debt, buy necessities and [...]

703, 2022

$88 Billion in Medical Bills on Credit Reports

By Diane Drain|March 7th, 2022|Consumer Issues|Comments Off on $88 Billion in Medical Bills on Credit Reports

CFPB Estimates $88 Billion in Medical Bills on Credit Reports Prepared Remarks of Director Rohit Chopra on New CFPB Medical Debt Report By Rohit Chopra – MAR 01, 2022 (reprint) “Good morning. Today, the CFPB released a report on medical billing and collection practices [...]

2302, 2022

What Happens at the End of a COVID Mortgage Forbearance?

By Diane Drain|February 23rd, 2022|Foreclosure, Loan Modification|Comments Off on What Happens at the End of a COVID Mortgage Forbearance?

WHAT HAPPENS AT THE END OF A COVID-19 FORECLOSURE FORBEARANCE? Can servicers demand a large balance? Generally, the servicers should not be demanding full payment following a COVID forbearance. There are a number of loss mitigation options for people coming out of a COVID forbearance. [...]

2301, 2022

Have You Been a Victim of a Financial Scam? Is Bankruptcy an Option?

By Diane Drain|January 23rd, 2022|Consumer Issues|Comments Off on Have You Been a Victim of a Financial Scam? Is Bankruptcy an Option?

Most of us trust others.  After all, we would not scam someone else, so why would they scam us?  Scams have been around for hundreds of years, but the sophistication of scams grows with the use of technology. I am going to write this article [...]

2001, 2022

Bankruptcy and New Arizona Homestead Statutes

By Diane Drain|January 20th, 2022|Consumer Issues|Comments Off on Bankruptcy and New Arizona Homestead Statutes

Bankruptcy Issues After January 1, 2022 Changes in Arizona Homestead Statutes Reprint from Gary Stickell’s website: January 19, 2022 The Arizona Homestead exemption increased from $150,000 to $250,000 as of January 1, 2022.  Final edits of HB2617 – easier to readAlong with that increase there [...]

3012, 2021

No More Surprise Medical Bills – New Law

By Diane Drain|December 30th, 2021|Consumer Issues|Comments Off on No More Surprise Medical Bills – New Law

New Law Prohibits Surprise Medical Bills Reprint from The New York Times, December 30, 2021 For years, millions of Americans with medical emergencies could receive another nasty surprise: a bill from a doctor they did not choose and who did not accept their insurance. A [...]

2510, 2021

Finally, New Debt Collection Rules

By Diane Drain|October 25th, 2021|Collection companies & Debt buyers|Comments Off on Finally, New Debt Collection Rules

CFPB Confirms Effective Date for Debt Collection Final Rules (Reprint from CFPB, July 30, 2021) The Consumer Financial Protection Bureau (CFPB) today announced two final rules under the FDCPA will take effect in November. The first rule, issued in October 2020, focuses on debt collection [...]

2908, 2021

Medical Debt Purchased by Debt Buyers for Pennies on the Dollar, but Sue For the Full Amount

By Diane Drain|August 29th, 2021|Collection companies & Debt buyers|Comments Off on Medical Debt Purchased by Debt Buyers for Pennies on the Dollar, but Sue For the Full Amount

Dirty Little Secret – medical bills are the highest they have ever been and debtor buyers are paying pennies on the dollar to purchase the debts, but then sue the borrower for the full amount of the debt. Article Yahoo!Finance, Adriana Belmone, June 21, 2021 [...]

2907, 2021

Tools to Help Renters and Landlords Access Federal Assistance

By Diane Drain|July 29th, 2021|Consumer Issues, COVID-19, Eviction|Comments Off on Tools to Help Renters and Landlords Access Federal Assistance

CFPB Releases Online Tool to Help Renters and Landlords Access Federal Assistance New resource helps renters and landlords find state and local programs distributing federal rental assistance funds WASHINGTON, D.C. — July 28, 2021: The Consumer Financial Protection Bureau (CFPB) released an online tool to [...]

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