McCarthy Law PLC

McCarthy Law PLC helps people in difficult financial situations because of too much debt. For many different reasons – the loss of a job, personal or medical emergencies, divorce, declining home values, a difficult economic environment – many people find themselves in financial difficulties. As debt attorneys, we are one of the rare debt settlement companies that can actually represent you in lawsuits and defend you against your creditors.

Finances are a very personal matter and should be discussed with a qualified debt attorney.

McCarthy Law's Mission:

"An America in which no family is burdened by debt. Our role in bringing vision to reality. We negotiate for large reductions in our clients' debts without the need for bankruptcy." - Kevin Fallon McCarthy, Managing Attorney.

How to Repair Your Credit after Identity Theft Good credit is your key to numerous financial opportunities. Even if you are financially stable, if you have bad credit, you could still miss out on many opportunities that rely on checking your credit history. Various financial decisions could cause you to have a speckled credit history, […]
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Student loans plague the minds of millions of Americans, but people often have more financial obligations than student loan debt to worry about. Your budget may already be stretched thin between other debts, bills, and necessities. If you are experiencing financial hardship on top of everything, it may feel impossible to honor every financial obligation, including your student loan payments.

Unfortunately, defaulting on your private student loans can greatly impact your financial health, resulting in consequences you may not have anticipated. Many people don’t realize that defaulting on federal student loans can affect your job prospects, and the same
Continue Reading Defaulting on private student loans … and my job prospects

If you have received notice of legal action against you by Discover, you need to respond promptly before they take a default judgment against you. Discover sues consumers who have defaulted on credit card payments and are hoping you will ignore their lawsuit so that they may collect payment through wage garnishment, property lien, or […]
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Creditors like Synchrony Bank have been known to harass consumers over unpaid debt. As a consumer, you should know that you have rights and are protected by specific federal laws. If you think you have been harassed or experienced unethical collection practices, speak to an experienced debt lawyer at McCarthy Law for legal assistance.    […]
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National Enterprise Systems (NES) is an Ohio-based third-party collection agency that was founded in 1987. NES has received many consumer complaints regarding its unethical debt collection practices, especially violations of the Fair Debt Collection Practices Act (FDCPA). Behaviors of unethical collection include threatening illegal action against consumers and improper conduct and sharing of information.    […]
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Friends support each other through difficult times, but you’ll rarely see friends willing to cosign a loan. There’s a good reason for that. In any relationship, money matters can complicate things. When your friend asks you to cosign a loan for them, they’re asking you to take on a big responsibility. Anyone who cosigns a […]
Continue Reading Should You Cosign a Friend’s Loan? 3 Risks of Cosigning Any Loan

Parents are usually their children’s biggest cheerleaders and champions for getting a higher education. Many parents will do whatever it takes to help their children get into college and obtain a degree, including supporting them in getting student loans. The impact of student loans on the students who follow them is well discussed, but when […]
Continue Reading How Do Student Loans Impact Parents? One Student Shares Their Story

Student loans are a rising issue. Private student loans are primarily an issue because they have high interest rates and are not afforded the same options for relief as federal student loans.  However, they are similar to federal student loans in that they are extremely difficult to qualify for bankruptcy. Going to college or university is essential to accessing many quality career paths. However, the need to take on private student loans to obtain a higher education can affect your career choices.

Your student loan decisions can impact many of your decisions further down the road. If you’re having trouble
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While many federal student loans do not require a cosigner, private student loans are different. Federal and private student loans have many differences amongst them, but cosigning is one of the most prevalent.  To qualify for most private student loans, a cosigner is often necessary, if not required by the lender. If you are considering […]
Continue Reading Why You Might Want to Reconsider Cosigning for a Student Loan

Shopping around for student loans can be overwhelming, especially after going through the process of applying to FAFSA for federal loans. If you choose to cover additional educational costs with private loans, finding the loan that is right for you can be hard to do. The debt settlement lawyers at McCarthy Law know that finding […]
Continue Reading How to Find a Student Loan with a Low Interest Rate in Arizona

Applying to college is a huge chapter in your life that you have likely been looking forward to for most of your young adult life. While this is an exciting time in life, it is also expensive and often too expensive for many families to send their children off to get a higher education. While […]
Continue Reading Could Your Spouse Be in Financial Trouble If You Default on Your Student Loans?

A debt-to-income (DTI) ratio is the percentage of gross monthly income you use to repay debts, such as student loans, credit cards, and auto loans. In general, a debt-to-income ratio is a measure of your financial health. A low DTI ratio might indicate that you can afford to repay loans without experiencing financial hardship. Conversely, a higher debt-to-income ratio may appear that you are over-extended and do not have enough funds to repay your loans.
How Do Lenders Use the Debt-to-Income Ratio?
Lenders prefer borrowers who have a low DTI ratio. In general, college students might have a low ratio
Continue Reading What should your debt-to-salary ratio look like when taking out student loans?