Archive for the ‘Debt Negotiation’ Category

Debt Settlement Companies and Bankruptcy

7 December 2012 by jacksonwhite  |  Bankruptcy Process, Debt Collection Issues, Debt Negotiation, Debt Settlement Companies, Filing for Bankruptcy, General Bankruptcy  |  No Comments

When someone is facing hard times financially, they’ll do just about anything to get on top of it, even if it means consulting a debt settlement company. A debt settlement company typically promises to work with your creditors to reduce the amount you owe. A typical debt settlement company charges high fees for their services up front. Even if they can’t reduce your debt, they still get to keep that money. These types of businesses also tend to encourage their clients to stop paying their debts and to stop communicating with their creditors. This is terrible advice. If you stop…

How to Avoid Going Bankrupt

14 November 2012 by jacksonwhite  |  Bankruptcy Process, Debt Negotiation, Filing for Bankruptcy, General Bankruptcy, Mistakes  |  No Comments

Bankruptcy should be a last resort for those who won’t be able to pay off their debt in their lifetime. Sometimes people end up having to file for bankruptcy a second time, because they fall back into the same routines they were in before. There are a few things you can do to avoid going back down the path to bankruptcy. One way to avoid bankruptcy is to set boundaries. You can do this by assessing your income and analyzing where your money is going. If you’re living above your means, then you’ll need to scale back while trying to…

Debt Collectors use District Attorney Letterheads to Collect

26 October 2012 by jacksonwhite  |  Debt Collection Issues, Debt Negotiation, General Bankruptcy  |  No Comments

Debt collectors have found a new way to target individuals who write bad checks. Generally, when someone writes a bad check it’s an accident, but every so often, someone writes a check with intent to defraud merchants. Collection agencies often have a hard time getting consumers to pay back debt that’s owed to businesses, but now debt collectors have an ally. Collection agencies are working with the District Attorney’s Office by taking bad check cases off of their hands in exchange for using District Attorney Letterheads. These letters state that the consumer must pay back the money they owe plus…

How to Deal with Aggressive Debt Collectors

16 October 2012 by jacksonwhite  |  Debt Collection Issues, Debt Negotiation, General Bankruptcy  |  No Comments

How to Deal with Aggressive Collectors Debt collectors might just be as irritating as telemarketers. Below are several tips on how to deal with debt collectors who call you on a regular basis. Answer the phone call Most debtors have a habit of ignoring their phone when a debt collector calls, but the best way to get rid of debt is to talk with the debt collector. Get details There are a lot of scams out there, so when you answer the phone, verify that the debt collector is a professional one. Find out who they are and how they…

A Cram-Down Can Help You Keep Your Car in AZ

27 March 2012 by jacksonwhite  |  Bankruptcy Process, Chapter 13 Bankruptcy, Debt Negotiation, Filing for Bankruptcy, General Bankruptcy  |  No Comments

In my past few blogs, I’ve discussed the benefits of Chapter 13 bankruptcies. In my last blog, I referenced a major tool used to help you keep your home, the lien strip. But did you know that there is also a mechanism to help you keep your car as well? When you file for bankruptcy under Chapter 13, you can reduce the amount you pay on your car and reduce the interest rate through a process known as a “cram-down.” A Chapter 13 bankruptcy does not require you to pay the loaned amount of your vehicle, just its fair market value. As an example, if you purchased a car 3 years ago, and you owe a total of $20,000, but it’s currently only valued at $10,000, a cram-down you would allow you to pay $10,000 over the life of your Chapter 13 bankruptcy. This could be the solution that allows you to keep your car!

Rest Assured, Filing Bankruptcy in Arizona Will Not Affect Your Custody Rights

1 November 2011 by jacksonwhite  |  Bankruptcy Process, Divorce, General Bankruptcy  |  No Comments

Bankruptcy does not affect custody rights. If you currently have a custody or visitation agreement or order in place and need to file bankruptcy, you can rest assured that the bankruptcy will not change the determination. It is important to note that any agreement or order regarding child support will also remain unaffected by the bankruptcy. Child Support is a non-dischargeable debt, and whatever past due amount of child support you may owe and whatever amount you are obligated to pay on a monthly basis will remain the same unless a change is made through the Family Court.

Bankruptcy is for the Honest, but Unfortunate: Filing Can Improve Your Future

14 October 2011 by jacksonwhite  |  Bankruptcy Process, Debt Negotiation, General Bankruptcy  |  No Comments

Bankruptcy is not for dishonest people. A wise bankruptcy judge once wrote, “Bankruptcy is for the honest, but unfortunate debtor.” Creditors wrote the bankruptcy laws. They are well aware of the laws (and agree with them) and they charge interest with the potential thought and risk of the borrower filing bankruptcy in the future.

Debt and Divorce in Arizona: Understand Your Rights Against Creditors and Your Ex-Spouse

3 October 2011 by jacksonwhite  |  Bankruptcy Process, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Collection Issues, Debt Negotiation, Divorce, General Bankruptcy  |  No Comments

If you have gone through a divorce, it’s likely that it was like countless other divorces in that you and your ex-spouse divided your debt. You may have assumed responsibility of some of the debt while your ex-spouse took responsibility for the rest. In the divorce decree, you and your ex-spouse not only promised to pay the debts assigned to each of you, but you also agreed to protect the other party from any adverse action by the creditor. Moreover, you were both court ordered to comply with this agreement.

Bankruptcy vs. Debt Negotiation: Decide Which is the Best Option For You

29 September 2011 by jacksonwhite  |  Bankruptcy Process, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Negotiation, General Bankruptcy  |  No Comments

I recently had a woman come into my office to discuss the possibility of filing bankruptcy. She made a fairly decent living, but possessed a large amount of debt. As I discussed her options, it quickly became apparent that she did not qualify for Chapter 7 because of her income. While she had the disposable income to finance a Chapter 13 plan, I soon discovered that bankruptcy was not the best solution for her situation. I advised her that it would be wiser to try and negotiate her debt instead of filing for bankruptcy.


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