Arizona Prop. 209, which reduces the interest rate cap on medical debt, isn't in effect, a Maricopa County judge has ruled.
which reduces the maximum interest rate on medical debt, but a judge has halted the measure from taking effect, at least for now.
Rodd McLeod, a spokesperson for Proposition 209 supporters from the group Healthcare Rising, said the plaintiffs"need to give it a rest and accept the will of the people."Proposition 209 — the Predatory Debt Collection Act — was supposed to take effect Dec. 5 after the statewide canvass and proclamation adopting the Nov. 8 general election results.
Arizonans with old debts would be protected in other ways, though, including the reduction in wage garnishment and the increased value on assets protected from certain creditors, Healthcare Rising has maintained.On Dec.
Consumers seeking bankruptcy protection might think their home is protected up to $400,000 of equity, which is the value allowed in Proposition 209. But the old equity cap, prior to Proposition 209, was $250,000.
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