Nick Rayes - A brief biography
Nick was born in Globe, Arizona on June 2,
1943. He graduated from Arizona State University
Business College in 1966, and graduated from University of Arizona
Law School in 1969. He has been a practicing attorney in Phoenix
since then.
Nick was honored as the Consumer Attorney of the
Year, 2002 by the Volunteer Lawyers Program. This is a joint project
of the Maricopa County Bar Association and Community Legal Services.
Nick takes great pride in this award as he has strived to provide
reasonably priced high quality legal services to the public for 39
years.
The
American Bankruptcy Institute has noted the following abstract which
summarizes Nick's letter to the Wall Street Journal responding to a credit card industry representative's article in the Journal.
NBRC-
0371 |
Nick Rayes |
Author of Letter to the Editor in the Wall
Street Journal; Bankruptcy Attorney |
In this editorial, the author responds to a
previous editorial from Diana Culp Bork, who had attributed
the rise in personal bankruptcies to a decrease in social
stigma. Ms. Bork recommended that this problem be resolved by
forcing more debtors to choose chapter 13 over chapter 7. The
author disagrees with Ms. Bork's conclusions, stating that the
rise in bankruptcies is the result of excessive credit card
debt. He argues that credit card companies must share part of
the responsilibility for these filings. |
The author concludes that debtors should not
be forced to choose chapter 13 over chapter 7 because
creditors already have adequate means for combatting chapter 7
bankruptcy fraud. If a bank feels that there is "substantial
abuse" by chapter 7 filers, they have the right to contest the
discharge of the debt owed to
them. |
|