Diane talks about bankruptcy, Arizona laws, and more…

Will you lose your COVID-19 stimulus money if you file for bankruptcy protection? Simple answer is no.  Read below. “Recovery rebates” (“stimulus monies”) received as a result of either the CARES Act or CAA are NOT PROPERTY OF THE BANKRUPTCY ESTATE.  Which, in simple English, means the person receiving the [...]

The Arizona Statute of Limitations Applicable to Collection Lawsuits and Non-Judicial Trustee’s Foreclosure Sales of Real Property, article by Larry O. Folks, Folks Hess, PLLC (1/2021). Excerpts: Can a lender collect upon a promissory note that matured six or more years ago? Short answer: No. The statute of limitations applies to each matured/defaulted note [...]

CFPB Charges Performance SLC and Performance Settlement, Daniel Crenshaw, with Using Deceptive Tactics November 5, 2020 – The Consumer Financial Protection Bureau (Bureau) filed a complaint against Performance SLC, LLC (PSLC), a California debt-relief business focused on federal student loan debt; Performance Settlement, LLC (PSettlement), a California debt-settlement company; and [...]

The FTC alleged that Midwest Recovery, and owners Brandon M. Tumber, Kenny W. Conway and Joseph H. Smith, collected more than $24 million from consumers on such debts, largely by debt parking. What is "debt parking", also known as “passive debt collection?” According to an article by the Federal Trade Commission "FTC" - debt parking [...]

CFPB Sues Encore Capital Group, Midland Funding, Midland Credit Management, and Asset Acceptance Capital Corp for Collecting Debts Beyond Statute of Limitations without disclosing debts were uncollectable, and other illegal acts On September 8, 2020, the Consumer Financial Protection Bureau (Bureau) filed suit in federal district court in the Southern [...]

Find The Right Bankruptcy Lawyer For You Reprint from a great California bankruptcy attorney – Cathy Moran Picking  the  right bankruptcy lawyer  is a lot like picking the right head coach for a sports team. It doesn’t assure success, but without the right professional, success is a whole lot harder [...]

Debt Collectors Can Demand Payment on Facebook Once You ‘Friend’ or ‘Follow’ Them According to an article in PaymentsJournal and the Register debt collectors now have the authority to make their payment demands public on Facebook, Twitter and other social media platforms According to The Register – Debt collectors will [...]

CFPB and State Attorneys General Settle with Nationstar, aka Mr. Cooper, accused of unfair and deceptive practices On December 7, 2020, the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar). The Bureau alleges that Nationstar violated multiple [...]

CFPB Settles with Discover Bank, the Student Loan Corporation and Discover Products for violating a consent order and other unlawful practices December 22, 2020 Consumer Financial Protection Bureau issued a consent order that Discover must pay at least $10 million to consumers, and $25 million as a penalty for their [...]

The Paycheck Protection Program (the second round): On December 27, 2020 a new bill was signed into law, now referred to as the Consolidated Appropriation Act of 2021, or 'CAA', This bill is 5,593 pages long (knowing how the legislative process works, there is no a single person involved who knows the entire bill [...]

How Does the Consolidated Appropriation Act Intersect with Bankruptcy? Reprint of article by David Warfield, Thompson Coburn's financial Restructuring Group. December 27, 2020 Congress passed the longest bill ever - 5,600 pages. The Consolidated Appropriation Act of 2021 "CAA", I can only assume, like so many of the other laws created by the Legislative [...]

Are you financially stressed right now? What to know about options, from debt negotiation to bankruptcy This short video from the Consumer Financial Protection Bureau "CFPB" is actually very informative and goes over the various options for homeowners who have received a forbearance. If the homeowner is not in Chapter 13, contacting their servicer [...]

Have you received a demand that you pay a debt you don’t owe, or already paid? Reprint of an article from the Federal Tradc Commission “FTC.gov”, September 29, 2020 Nobody likes getting debt collection calls. But have you ever gotten one for a debt you already paid — or you [...]

Debt collectors doubled their earnings - all thanks to COVID-19 10/5/20 According to an article in ProPublica, debt collections have made a fortune this year due to the COVID stimulus monies.  Those who really needed those funds used them to pay past-due debts, rather than saving the money to pay rent, utilities, food, health [...]

Maricopa County, Arizona, Sheriff’s Bidding Requirements at a Sheriff’s Execution Sale of a Judgment Debtor’s “Homestead” Residence By Larry O. Folks • September 2020 (reprinted with permission of author) 10/29/20 Relevant Background Facts Judgment Creditor obtains a money judgment (“Judgment”) against an individual Judgment Debtor. The Judgment is recorded with [...]

Analysis of Enforcement of Money Judgments in Arizona Against a Judgment Debtor’s Residence / “Homestead” Property By Larry O. Folks (10/26/20) (reprinted with permission of author) Relevant Background Facts Judgment Creditor obtained a money judgment (“Judgment”) against Judgment Debtor. The Judgment was recorded with the Maricopa County Recorder (“County Recorder”) prior to the Judgment [...]

FDIC Consumer News: Beware, It’s a Scam! Avoid phishing, smishing, vishing, and other scams FDIC Consumer News - October 2020 Criminals are constantly trying to steal consumers’ personal data using fake emails, websites, phone calls, and even text messages. They use a variety of ways to try to trick people into providing Social Security [...]

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. Are you a 'planner' or a 'gambler'? Do you assume everyone is looking out for you, or you need to look out for yourself?  Do you assume everyone will [...]