What the Arizona Consumer Fraud Act is and How it Can Help You as a Business owner and Consumer.

“Education is the most powerful weapon which you can use to change the world.” ― Nelson Mandela The Arizona Consumer Fraud Act (the Act) provides a person (which could be a person or business as defined under the Act) with a legal remedy when harmed by any person, by an unlawful act, use, or practice in connection with a sale or advertisement of merchandise. The Act prohibits unfair and deceptive business Read More

Financial Literacy: What it means and why it matters.

“An investment in knowledge pays the best interest.” – Benjamin Franklin  Financial Literacy has been defined as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial wellbeing.” We can use financial knowledge to make better decisions. From everyday spending to long-term planning, intentional money management could mean leveraging money or access to it to Read More

A few things you should know when financing a vehicle purchase.

If you would know the value of money, go and try to borrow some – Benjamin Franklin Generally, for many, lenders will preapprove a loan and quote an interest rate, loan term, and maximum loan amount. The factors that are considered for approval are credit score(s), the terms of the transaction, and the type of vehicle. Once approved, a conditional commitment letter is provided. The Consumer Financial Protection Read More

A few reasons why you should review the “arbitration” section of a contract?

"Win or lose, do it fairly." –Knute Rockne What is Arbitration? Arbitration clauses are found in contracts for car purchases, home construction, bank accounts, student loans, cell phones, employment, nursing homes and more. Arbitration is a private procedure in which a legal dispute is submitted to make a binding decision on the dispute. When arbitration is mandatory it deprives of the opportunity to go to court. Read More

How to Avoid Tax Scams

Many of us know of someone who has lost money and possibly their personal information to a tax scam. Probably the most important thing to share is that the Internal Revenue Service (IRS) will not initiate contact with a taxpayer by email, text message, or social media channels or a phone call to request personal or financial information. Here are a few telltale signs of a tax scam: A phone call demanding Read More

Consumers and Small Business Owners Beware of Fake Lender Loans!

Arizona law limits interest rates to protect its residents from predatory lending. By way of example, the maximum annual percentage rate (APR) including fees is 41% for a $2,000, two-year installment loan. In 2008, 60% of Arizona voters rejected a payday lender ballot initiative that would have overturned the state’s interest rate maxima. To get around the interest rate cap, high-cost online lenders have evaded Read More

A Brief Introduction to the ACFA

Consumers and Businesses are protected by various laws at different levels of government. The Arizona Consumer Fraud Act (ACFA) is a law that protects consumers and businesses at the state level. Let’s take a look at the Act to find out how it works. What is the Arizona Consumer Fraud Act? Enacted in 1967, the Arizona Consumer Fraud Act governs transactions. The Act is designed to uncover “unlawful practices” in Read More

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