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AZ Criminal Defense Group


About AZ Criminal Defense Group

Managing partner and co-founder of Ariano & Reppucci, PLLC.

Do You Have “Rights” In Debt Settlement? – Debt Attorneys

by the Debt Attorneys at Ariano & Associates, PLLC

rights in debt settlement explained by the debt attorneys at ariano & associatesAs many Americans continue to try and recover from the effects of the Great Recession nearly eight years ago, debt relief companies have taken to […]

Fees for Debt Settlement


How Much Does Debt Settlement Cost?

The best things in life may be free (at least according to the once-popular song), but debt settlement is not. Even if you choose to settle your debts by yourself, you will (obviously) need to pay any lump sum amount you agree […]

Settling Delinquent Tax Debt

Tax Headache

A popular misconception is that debt settlement can only resolve unsecured personal debts like credit cards and medical bills. While these debts can certainly be handled through a debt settlement program (and many debtors do handle these debts in this manner), these types of programs are […]

Regulations Affecting Debt Relief Agencies

Regulation written on multiple road signNot all debt settlement or debt consolidation companies are reputable and legitimate. Unfortunately, this has caused some debtors to be taken advantage of by unscrupulous individuals. In an effort to protect vulnerable debtors who might be swindled, many states and the […]

How the FDCPA Affects Your Debt Settlement

truth about debt settlement conceptDebtors who fall behind on their bills will inevitably receive one (or multiple) intimidating telephone calls from a collector. Collectors who work for collection agencies are typically paid in relation to the amount of delinquent debt they are able to recover from debtors. […]

Can Senior Citizens Benefit from Debt Settlement?

AdobeStock_67556467_WMThe financial crisis of 2008 took a toll on a large number of Americans from all walks of life. Even today – nearly seven years after the onset of the financial crisis – some Americans still struggle with the affects of a burdensome debt load and assets whose values are diminished. One demographic in particular is at an increased risk for feeling the effects of the crisis: senior citizens. Just like other groups of people, senior citizens may avail themselves of the benefits of debt relief programs such as debt settlement. As any experienced debt settlement lawyer will tell you, however, there are special considerations that must be taken into account before a senior citizen enrolls in a debt settlement program.

Senior Citizens May Find Better Success Than Others in a Debt Settlement Program

Each creditor approached with an offer to settle a debtor’s debt takes certain facts and circumstances into account. The creditor then decides (1) whether it will settle the debtor’s debt at all, and (2) if so, what amount the creditor will accept. Some of the factors a creditor might consider include:

• Assets available to the debtor;
• Income type, amount, and sources;
• The debtor’s career field and likelihood of a raise or pay increase;
• Total amount of debt owed by the debtor;
• Payment history of the debtor; and
• Other relevant factors.

Senior citizens may find that creditors are more willing to settle debts for less than they might otherwise. This may be due in large part because of the senior citizen’s age, the fact that he or she is likely living off of fixed income (some of which might not be able to be garnished through a lawsuit), and there is little likelihood that the financial situation of the senior citizen will change with time.

Should All Seniors Use Debt Settlement?

Seniors who have a large amount of assets they wish to protect or who continue to receive an income through employment may benefit from debt settlement. Successfully settling your debts can allow you to keep important assets and some or most of your income while allowing you to escape from underneath your crushing debt load.

Debt settlement may not be of benefit to all senior citizens, however. Senior citizens who do not have many assets and are on a fixed income (such as through certain retirement accounts) may find that other debt relief alternatives will cost less and provide better results. Because certain sources of income cannot be garnished through a lawsuit, a creditor may be less likely to expend the resources and time in filing a lawsuit against the senior citizen. In this type of case, it may make more financial sense if the senior citizen did not enter into a debt settlement program.

How Do I Know if I Should Use Debt Settlement?

It can be confusing to know if a debt relief program is right for your situation and whether consolidation, settlement, or counseling is best for you and your family. In this ever-changing field, senior citizens are encouraged to seek out the assistance of a qualified debt settlement attorney or debt relief lawyer. A reputable attorney will take the time to understand the senior citizen’s financial situation, listen to the goals and concerns of the person, and then recommend a course of action best designed to achieve the individual’s goals. […]

How many credit cards should you carry?

If you are wondering why you can never find what you are looking for in your wallet or purse then maybe you should reconsider having so many credit cards. Most people are perfectly fine with having two major credit cards. One of them should be a low-rate card for times when you must carry a balance, and […]

How will Debt Settlement affect my taxes?

Debt settlement is the process in which a debt is paid off to a creditor in one full payment that is less than the original amount owed. This solution is only for those people who are seriously behind on their payments. Before
considering a debt settlement offer, you should first think about how this will affect your financial situation […]

Should you pay debt in collection?

Phoenix Debt Attorneys of Instant Settle Consultants, PLLC

It’s no hidden secret that debt collections are bad for your credit report. Debt collection is a $15 billion dollar a year industry and it’s blooming fast. Any past due account, debt collections included, can have a negative effect on your credit score for as long as it […]

Debt Consolidation vs. Bankruptcy – Debt Settlement

During these difficult economic times, debt consolidation and bankruptcy are common debt management strategies. There are many advantages and disadvantages of debt consolidation and bankruptcy for dealing with debts. Debt consolidation has proponents that often promote this strategy as a simple way to save money and protect your credit rating. You can choose to consolidate […]

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