Arizona BankruptcyA lot of Arizonans are in the same boat these days; a bad economy and a bad job market have caused hard times and put a lot of people behind on their bills. Waiting for the bill collectors to start calling can be a nerve-wracking experience, and dealing with the calls once they do come adds a lot of stress to an already stressful situation.
Understanding what is going on behind the scenes can give you the facts you need to make a clear decision about your future once financial troubles begin. In this series we will look at the life cycle of a bad debt from the collection agencies perspective to give you some insight into what to expect next and how to deal with it.
Know your rights
Many people understandably get confused and flustered when they get a call from a collection agent, especially if the debt has been transferred or sold several times and they don’t recognize the name of the creditor. Unscrupulous debt collectors can take advantage of this confusion, or count on the fact that you don’t know your rights under the law.
In Arizona, you are not required to pay back an unsecured debt after the six year statute of limitations runs out. But debt buyers routinely purchase debt that is older than six years and attempt to collect it, relying on the fact that debtors don’t always know about the statute of limitations.
It is perfectly legal for a debt collector to ask you to pay a debt that is older than six years. If you do start making payments however, the debt buyer is within its rights to report the debt to your credit reporting agency and start the whole cycle over again.
At The Zolman Law, PLLC, we believe that your life shouldn’t be defined by debt. We have helped hundreds of people just like you find the relief they deserve from harassing bill collectors, paycheck garnishment, foreclosures proceedings, and – most importantly – the constant worry about money and what to do about your debts.
We are a dedicated debt relief law firm. We help people from Phoenix, Mesa, Gilbert, Queen Creek, Chandler, Scottsdale, Apache Junction, Tempe and throughout Arizona file for bankruptcy or work through tough tax problems every day. We can help stop the debt cycle and give you relief from your overwhelming, burdensome, and crushing debt. Please don’t wait another moment. Call us right away – our attorneys will help get you the fresh start you deserve.