The United States Congress recently passed a financial reform bill into law that President Obama has called “the toughest financial reform since . . . the aftermath of the Great Depression.” And he may well be right about that.
The new legislation is far stronger than most experts had expected, and goes a long way toward protecting individual consumers from the abusive and predatory lending practices that led to the original financial meltdown and sent so many American families and small businesses into bankruptcy.
Pundits continue to argue whether the changes enacted are strong medicine or only a small step toward fixing the problem. Some say that regular financial “collapses” are inevitable and we shouldn’t be surprised when one happens again.
But no one can deny how devastating financial turmoil is to American individuals. In the latest catastrophe, millions of people lost their jobs, their homes and their retirement savings practically overnight. Arizona was hit particularly hard, and continues to have some of the highest bankruptcy and foreclosure rates in the nation.
Hopefully, this new legislation will go a long way toward protecting the average Arizonan from predatory lenders. But only time will tell.
At The Pew Law Center, 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.