Diane talks about bankruptcy, Arizona laws, and more…

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 [...]

Leading Lawyers Weigh In on Portrayal In The Media – (includes quote from Diane Drain) Can you remember the very first time you came across the word ‘lawyer’? EXCERPT (from KTVN 12 News,  WFXG Fox News 54, and WFMJ 21) For most of us it was [...]

Are you financially stressed right now? What to know about options, from debt negotiation to bankruptcy Russ Wiles, Arizona Republic, Arizona Republic Interviews Diane L. Drain about debt relief, including bankruptcy (see highlighted text). 9/9/20 The COVID-19 pandemic and economy-shutting measures to contain it came on quickly, over a matter [...]

CREDIT BUILDER LOAN COULD HELP CONSUMERS BUILD OR REBUILD THEIR CREDIT (reprint from CFPB) July 13, 2020, the Consumer Financial Protection Bureau (Bureau) released a report indicating that a credit builder loan could increase the likelihood of establishing a credit record for consumers without one, and could help improve the [...]

Congress created the CFPB after the 2008 financial crash to protect consumers from what were seen as predatory and deceptive practices by financial institutions. UPDATE: May 16, 2024 – Consumer Financial Protection Bureau’s Funding is constitutional.  This is great news for all consumers who need an agency with the power [...]

Broken Promises: Teachers Sue U.S. Over Student Loans That Weren’t Forgiven Lawsuit against Department of Education—loan forgiveness program for millions of public service workers is in such a shambles that it violates federal law and the Constitution. July 11, 2019 - Article by National Public Radio: Debbie Baker (not the lady in the picture) thought [...]

SCAMS ABOUND – NEVER BELIEVE WHAT SOMEONE TELLS YOU, UNLESS YOU CHECK IT OUT. Here are some Arizona resources to help you find accurate information. With every crisis comes thousands of scams trying to steal your money or your rights.  Do your homework before believing anyone, including friends or family [...]

The IRS Won’t Call You About Your Stimulus Money IF YOU GET A CALL FROM SOMEONE SAYING THEY ARE FROM THE IRS – STOP!!!! IT IS A SCAM!!!! June 24, 2020 – The Federal Trade Commission (FTC) issues a warning that scammers are pretending to be from the government.  [...]

ALERT FOR SMALL BUSINESS OWNERS NEEDING PPP LOANS Law suit against Ponte Investments, LLC, promoted their “SBA Loan Program” and website “SBAloanprogram.com […]

The next 12 to 18 months is going to be financially difficult for many of our neighbors Our new normal is homeschooling, face masks and self-isolation.  What few are talking about is the financial consequence of COVID-19.  Many of our neighbors are faced with difficult choices – pay the mortgage or buy food and pay [...]

SBA issues rules and guidance regarding the amended Paycheck Protection Program. The Flexibility Act: legislation signed June 5 lowered to 60% from 75% the minimum percentage of PPP funds borrowers have to spend on payroll costs to have the loans forgiven.  Plus, extended the covered period from eight weeks to 24 weeks, after loan disbursement. [...]