Diane talks about bankruptcy, Arizona laws, and more…

RELIGION AND BANKRUPTCY Bankruptcy has its roots in religion. No one should avoid dealing with debt because of misunderstandings about religious or ethical considerations. It is NOT shameful to seek relief from crushing debt! ...Forgive Us Our Debts... by O. Max Gardner, Attorney at Law Dalton Camp proclaimed several years ago that, “having lost [...]

Usury – historical references and bankruptcy USURY can be traced back 4,000 years.  It has always been despised, condemned, restricted or banned by moral, ethical, legal or religious entities. The oldest references to usury are found in religious manuscripts of India, dating back to 2000-1400 BC where the ‘usurer’ is associated with any interest [...]

Does God Want You to Be Bankrupt? Religious laws related to bankruptcy vary across different faith traditions. Here's a brief summary of some key principles from Christianity, Judaism, and Islam: 1. Christianity: - The New Testament encourages generosity, forgiveness, and compassion towards those in debt. It teaches that debts should be repaid when possible [...]

Diane Drain received the 2022 Preeminent Award and Gold Client Champion Award from Martindale-Hubbell. The 2022 AV Preeminent award is given to an "elite group of attorneys who have been rated highly by their peers as having Very High Ethical Standards and an A grade.  Lawyers.com Diane L. Drain, bankruptcy attorney, retired law professor, [...]

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 discharged in bankruptcy? It is [...]

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 otherwise get their finances back [...]

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 in our country. Medical bills [...]

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. In order to know which [...]

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 in reverse order.  Rather than [...]

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. Along with that increase there were other significant changes to the Arizona Homestead law.   A Judgment recorded [...]

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 law that goes into effect [...]

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 communications and clarifies the FDCPA’s [...]

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 “Medical debt is the no. [...]

CFPB Releases Online Tool Helps 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 help renters and landlords impacted by the pandemic easily find [...]

Arizona Residential Eviction Actions Procedures – effective July 15, 2021 IT IS ORDERED that the following procedures are applicable to eviction actions governed by Arizona Revised Statutes, Title 33, filed in the superior court or a justice court, and delayed by the moratoria, including the mortgage forbearance eviction moratorium currently [...]

SCOTT MICHAEL FORRESTER, DISBARRED BY THE STATE BAR OF ARIZONA.  EFFECTIVE MAY 5, 2021. UPDATE – A SECOND DISBARMENT (AUGUST 12, 2021) AND SUSPENSION (AUGUST 10, 2021) ENTERED BY THE STATE BAR. UPDATE – ARIZONA SUPREME COURT DENIES FORRESTER’S APPEAL 10-6-21 […]

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 [...]