Blog Posts in July, 2012

  • Elderly Americans struggling with mortgage, facing foreclosure

    The past few years have been difficult for Arizona homeowners, with the housing market collapse and the recession. Among the hardest hit are older generations, with the AARP reporting that more than 1.5 million older Americans have already lost their homes to foreclosure and millions more are poised to do so. As the threat of foreclosure looms and mortgage payments accumulate, some Americans may ...
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  • Student credit card use is major decision for Arizona families

    To obtain a credit card, The Credit Card Act states that a user under the age of 21 should either submit proof of income to repay credit card debt or have a qualified co-signor. As the law makes it harder for young adults to obtain credit cards, Arizona parents must decide whether their college-bound children should leave the house armed with credit cards. The decision is significant, as ...
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  • Evander Holyfield's $14 million mansion is foreclosed

    Back in May, we discussed the fact that financial troubles plague many athletes despite their million-dollar contracts in the post "Athletes filing for bankruptcy to ease financial burden." Like some average Arizona residents, athletes find themselves facing financial troubles and may consider filing for personal bankruptcy to find some respite from their problems. Evander Holyfield, former ...
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  • New rules may mean lower medical bills for some in Arizona

    Readers of the Mesa, AZ, Bankruptcy Law Blog may have read the post "When unexpected events cause debt, consider bankruptcy filing," which discussed the turmoil that unexpected events can cause on finances. These unexpected events might include a sudden illness leading to medical bills that Arizona residents are not financially equipped to handle. As patients are struggling with their health ...
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  • Chapter 13 bankruptcy is one option to deal with credit card debt

    Arizona residents who are about to embark on their next shopping trip with credit card in hand may not be aware of the Christian Science Monitor report that the average household in the country carries credit card debt of about $14,500. Some households owe even more in credit card debt than the reported figure, forced to use credit cards for necessary expenses, and they struggle to make their ...
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