Diane talks about bankruptcy, Arizona laws, and more…

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 for by the creditors and [...]

Forbearance of Home Mortgages During COVID-19 Know your options before making a decision not to pay your mortgage 11/18/21 UPDATE – see summary of foreclosure alternatives This chart provides a summary of relief options available for borrowers facing a COVID–19 related hardships. The options that they can access depend on the loan investor. In addition [...]

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 especially those hardest hit by Covid-19. This bill was sponsored by Ben Toma, House Majority Leader, and pushed by the debt buyer industry, [...]

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 Disease Control and Prevention (CDC)’s [...]

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 decent job describing the challenges [...]

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 are three parts to the [...]

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 could lose protections from debt [...]

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 March 2, 2020. Later that [...]

CFPB Cracking Down on Mortgage Servicers Servicers Should Gear Up for Expected Surge in Homeowners Needing Assistance Warning to Mortgage Servicers (April 1, 2021 – reprint from CFPB) The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. [...]

Bankruptcy Related Changes Under the CARES Act and the Consolidated Appropriations Act of 2021 February 9, 2021 By Andreozzi Bluestein LLP  By: Daniel F. Brown, Esq. (provided here for educational purposes only). The Consolidated Appropriations Act of 2021 The Consolidated Appropriations Act of 2021 (the “Appropriations Act”) was passed by Congress [...]

CFPB Submits 2020 Report  to Congress on the Administration of the Fair Debt Collection Practices Act Report highlights commitment to protect consumers during the COVID-19 Pandemic The Consumer Financial Protection Bureau (CFPB) released the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts [...]

You will not lose your 2021 Stimulus Payments If you File Bankruptcy (Maybe?) Protection of Stimulus Payments from a Bankruptcy Trustee The following is from the NCLC Consumer Law Implications of the American Recovery Plan Act Public Law No. 116-260, Consolidated Appropriations Act of 2021, div. FF, tit. 10, § 1001(a) adds [...]

You Have a Reverse Mortgage Know Your Rights and Responsibilities Reverse Mortgage Borrowers Publication from Consumer Financial Protection Bureau “CFPB”.  Reverse mortgages can be a nightmare, leaving your spouse evicted from their home once the signing spouse dies.  This in-depth guide teaches current reverse mortgage borrowers about their rights and responsibilities under a Home Equity [...]

With Protections Expiring, Millions are in Danger of Losing Their Home by: Jann Swanson  Mortgage News Daily, Mar 2 2021, 9:17AM (Reprint for education purposes only) What happens to homeowners and landlords when the federal, state, and local protections put in place during the pandemic go away? The Consumer Financial [...]

A powerful story from one man who refused to be bullied to one of the devious debt collectors: Millions Are Hounded for Debt They Don’t Owe. One Victim Fought Back, With a Vengeance Article by Zeke Faux, Bloomberg Business week. Andrew Therrien wanted payback. He got it—and uncovered a conspiracy.  "It begins when someone [...]

If you are behind on your mortgage, beware of mortgage relief scams. There is free foreclosure help. If anyone tries to charge you in advance for help or guarantees that they can stop your foreclosure, they’re not legitimate. Here are some red flags that can help you spot and avoid [...]

FTC Bans Payday Lender and Forgive Illegal Debt –  Lead Express, Inc.; Camel Coins, Inc.; Sea Mirror, Inc,; Naito Corp.; Kotobuki Marketing, Inc.; Ebisu Marketing, Inc.; Hotei Marketing, Inc.; and Daikoku Marketing, Inc.From Industry Owners, operators of tribal payday lending scheme settle charges they defrauded millions of dollars from consumers [...]

Every client deserves competent advice in order to plan their life, but they also need to be able to avoid unforeseen results.  They also deserve to be treated with respect and compassion by everyone involved in the bankruptcy process. Helping a client protect important assets before filing bankruptcy has always been seen as appropriate "pre-bankruptcy [...]