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  • Hire Bankruptcy Lawyers to Defend You against Creditor Action

    Hire Bankruptcy Lawyers to Defend You against Creditor Action

    Filing for bankruptcy is one of the last resort people opt for, though it is the best legal option available to get rid of genuine monetary issues plaguing people. Many times people who have filed for bankruptcy might end up getting sued by the creditors for failure to make payments. In case, you have chosen to file without a lawyer (pro se) you might not be adequately prepared to handle such a scenario.

    In a case concerning Chapter 7 bankruptcy, the debtor prior to filing for bankruptcy had opened a home equity line with a local financial institution. When the news of the filing reached the creditor, the institution filed a lawsuit against the debtor.

    The financial institution (Parkway Bank & Trust) based their lawsuit on the fact that the debtor (Casali) had knowingly sought to misdirect the bank when he decided to ask for relief from the loan. As per the bank, one of the debts should be considered non-dischargeable as per U.S. code 523(a)(2)(A). According to Dallas based law firm Recovery Law Group, the code states that bankruptcy cannot provide respite to the filer from any debt (in form of finance, property, or any other service) obtained due to lies or false depiction. According to the complaint filed by Parkway Bank & Trust, Casali had not accurately provided statements of the financial situation while borrowing money from them.

    Thankfully, expert bankruptcy lawyers by the defendant’s side argued that Parkway Bank & Trust could not provide relevant evidence to prove the charges against their client. Inability to prove without any doubt that Casali had knowingly and with dubious intent hidden the financial condition while obtaining the mortgage loan from Parkway Bank & Trust resulted in relief for the client. The case was reviewed by the bankruptcy court and the client got respite by having the loan discharged under Chapter 7 bankruptcy.

    In case you are going through a tough phase and are looking for bankruptcy as an option to get relief from the huge debts it is important to consult an adept bankruptcy lawyer. Call at 888-297-6023 to talk to expert bankruptcy lawyers to get a better grasp on your financial and legal matters. With an experienced team by your side, any complicated legal matter can be easily resolved.


      *Are you more than 60 days past due on your mortgage?

      *Do you own a home?

      Are you currently working?

      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

    • Here’s what you need to know about Chapter 11 bankruptcy

      Here’s what you need to know about Chapter 11 bankruptcy

      Chapter 11 bankruptcy is for businesses to get their debts reorganized and also gain enough financial stability so as to avoid any liquidation of their business assets. Though there could be scenarios in which we encounter individuals who qualify for Chapter 11 bankruptcy, this filing mostly involves the businesses. The features of Chapter 11 bankruptcy are as below:

      • Chapter 11 bankruptcy allows the regular operation of the business that is undergoing the crisis and still works on ways towards repaying the creditors in the business
      • This type of filing can be voluntarily initiated by the debtor. In a few cases, involuntary initiation of Chapter 11 bankruptcy is done by the creditors
      • In Chapter 11 bankruptcy, the debtor under question should share all information to the court – list of assets, list of liabilities, contracts that have continuing obligations involving other parties, unexpired leases, disbursements, income and financial statements relating to the business are part of this information
      • Chapter 11 bankruptcy includes the filing charges and also administrative fees. These have to be paid as soon as the bankruptcy is filed or in installments as agreed by the court
      • Chapter 11 bankruptcy petition of a business should bear information of the Tax Identification Number of the debtor and also the details about the location of the principal assets
      • While the petition is filed, the petitioner shares a plan for restructuring the business debts. This will enable the court and the creditors to take appropriate actions according to the plan. In case the plan isn’t shared while filing, the debtor needs to indicate that a plan will be shared soon for addressing the creditors’ concerns

      A debtor may be unable to file a Chapter 11 bankruptcy just like any other Chapter if:

      • There is an occurrence of bankruptcy dismissal within the previous 180 days because the debtor wasn’t available to appear in court or ignored the court orders
      • The previous filing for bankruptcy had been enjoined by lien holding creditors

      There are some permitted exemptions for individuals citing emergency situations, but the debtor should submit proofs of undergoing credit counseling from an accepted source.

      On the outset, the plan for the restructuring of debts is complex and will need the oversight of a bankruptcy attorney. Work with Recovery Law Group in Los Angeles or Dallas. They can be reached at 888-297-6203 – their expertise will guide businesses through the Chapter 11 filing process.


        *Are you more than 60 days past due on your mortgage?

        *Do you own a home?

        Are you currently working?

        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

      • Health Coverage – California

        Health Coverage – California

        The number of Americans who want the appropriate Health coverage and costs connected with health care in the U.S have only grown exponentially. This is a disturbing phenomenon on the affordability of the health-care system and nevertheless, This had been a plan for Barack Obama, When He ran for the president in 2008. To reform health care to make it affordable and to have basic health insurance coverage for the citizens had the foremost action points for the president.

        As critical was this priority, The president threw the above within 14 months of his presidency stature. The enactment of the Patient Protection and Affordable Care Act, or known as ACA or better referred to as Obama care, focused on reducing costs and widening the coverage. This made significant differences in the health insurance industry and in America’s overall health care. The key accomplishment of the ACA had been that it brought about the establishment of online health insurance marketplaces in several states in the U.S. In the state of California, it is Covered California.

        We will delve in detail about the Covered California marketplace and the advantage that the residents of Los Angeles will get from it for their health insurance.

        Covered California

        The health care marketplaces had termed exchanges under the ACA and if any state could not establish one, the federal government would establish one for that state and encompass it within the Federal Healthcare. These ACA exchanges will be the online storefronts for the citizens to compare and purchase coverages from the health insurance providers. The exchanges are not insurers. These ACA exchanges route the request to the related states health insurance agency for people who have low-income ranges. Eg, Routing of the application for health coverage to Medi-Cal in the state of California will be taken care of by the ACA agency in California.

        Covered California is the online health coverage marketplace that is ACA-compliant and took satisfaction in being the first state marketplace established. Just after six months from the enactment of the ACA, Governor Schwarzenegger and the California Legislature passed the law to set up Protected California which originally started as California Health Benefit Exchange.

        Saving Money on Health Insurance – Covered California

        There are three independent reforms of the ACA that was accomplished by the law passed with the goal of minimizing health care costs and maximizing the coverage via the health insurance.

        Let’s review those three reforms here:

        1. Pre-existing conditions coverage – Prior to the ACA, the insurance companies could deny health care coverage for pre-existing medical conditions. This forced the people who could not buy the insurance as they paid directly for their healthcare
        1. Individual’s mandatory coverage – The ACA mandates that every individual in the U.S. be covered through individual health insurance or through the employer or under a government program. Those who fail this should pay a penalty to the IRS at the end of the year.
        1. Health Insurance Exchanges Subsidy – In order that many people buy health insurance through these exchanges, subsidies had assured to families who earned four times the federal poverty level. With these subsidies, The original cost of obtaining health insurance had reduced.

        Of these reforms, Penalty to the IRS had reduced to $0 through the Tax Cuts and Jobs Act in 2019. But through Covered California, You can still enjoy the subsidy and also get coverage if there is a pre-existing medical condition.

        The Metal Tiers System of Covered California

        The different plans in Covered California was termed as different metal tiers and it made the comparison easier for the consumers. The four different tiers of the ACA, viz. bronze, silver, gold, and platinum classifies the plans depending on the percentage of the health care costs of the insured that will be paid by the insurer.

        Bronze – 60% of the covered medical bills will be paid by the insurance company. The other 40% will be borne by the consumer through co-pays or through deductibles.

        Silver – 70% of the medical costs are covered by the insurer and the remaining 30% has to be paid by the insured.

        Gold – 80% of the healthcare costs are required to be paid by the insurance company leaving 20% to be paid by the individual.

        Platinum– 90% of the medical costs are taken care of by the insurance company and the specific needs to arrange the remaining 10%

        It is very important to note that the premium for a higher-tier plan is usually costly compared to a medium-low tier. But, The ACA assures subsidies which are required to reduce the financial strain with high premium amounts

        Medi-Cal for Low-Income citizens

        It can be a surprise to know that even low-income individuals qualify for an insurance policy through Covered California. Though the ACA limits the subsidies for a specific income range of its citizens, the folks who earn lesser than that threshold can now avail free or reduced health insurance coverage through Medical, Medicaid Implementation in the state of California.

        As referred earlier, The application for MediCal coverage is well integrated into Covered California. This makes the application for Medi-Cal coverage quite simple and similar to how private insurances are sought through Covered California. The Medi-Cal can also be availed via mail or in person.

        The necessity of health insurance

        In the U.S. health insurance is more of a mandate than just a necessity. The amount of money that one tends to spend on health care has at times landed individuals in situations of bankruptcy. Recovery Law Group has seen many individuals who have reached this condition because of their inability to take care of the medical bills or have surplus debts because of inappropriate planning for health care. In Los Angeles, California and in Dallas, Texas, consult with a bank attorney from the Recovery Law Group to understand the importance of health insurance. Explore Covered California and purchase the tier plan that is best suited for your income range and for your family needs.


          *Are you more than 60 days past due on your mortgage?

          *Do you own a home?

          Are you currently working?

          By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

        • Get to know everything about Chapter 13 Bankruptcy through Dallas Attorneys

          Get to know everything about Chapter 13 Bankruptcy through Dallas Attorneys

          Finding yourself on sticky financial wicket can be traumatic for many people. Often accumulated debts make a person unsure of what to do next. As per Dallas bankruptcy lawyers’ Recovery Law Group bankruptcy is one of the best options available. However, filing for bankruptcy requires you to choose from a number of Chapters, each specifically designed to help people get over financial problems. In case, you are unsure which chapter suits your case, Chapter 13 might be your best chance for starting afresh. Chapter 13 bankruptcy works best for people with reasonably sufficient disposable income which can be used to make reasonable monthly payments with respect to their debts.

          Why opt for Chapter 13 bankruptcy?

          Unlike Chapter 7 bankruptcy, where unsecured debts are liquidated, in Chapter 13, the debtor can restructure the accumulated debt into manageable payments over a longer period of time (3-5 years’). However, not everyone can opt for this Reorganisation Bankruptcy. To qualify for this chapter you should have a regular income and the wages must be adequate enough for the repayment plan. The various benefits of filing for Chapter 13 bankruptcy include:

          • You can repay debts in 3-5 years;
          • Can put an end to annoying creditor actions;
          • You might be able to get rid of 2nd or 3rd mortgage;
          • You might be able to save your home from foreclosure;
          • Get a fresh financial start after you complete the repayment plan.

          In case you are unsure whether Chapter 13 is the best chance for you to get out of financial problems, contact expert bankruptcy attorneys at 888-297-6023 to find out more.

          Using Chapter 13 Bankruptcy to stop foreclosure

          Since debts are reorganized in Chapter 13, it makes it easier for people to avoid repossession or/and foreclosure. If you have fallen behind on making payments, and are risking foreclosure, Chapter 13 is an excellent way to take control of the situation. Filing for bankruptcy puts an automatic stay in place due to which any foreclosure and debt collection is put on hold. However, it is essential that you follow the Chapter 13 bankruptcy timeline to avail the entire benefits:

          1. Take a mandatory credit counseling course within 180 days of filing

          Every Chapter 13 bankruptcy case requires completion of an approved credit counseling course prior to filing. The course should be done from a U.S. Trustee’s Office approved agency. The course is beneficial in making you aware of your situation as well as ensure that you have sufficient income to pay back creditors over the stipulated timeframe. The fee of the course is $25-$35, but in case you cannot afford it, it can be waived off.

          1. Automatic stay benefit

          Once you submit forms for your Chapter 13 bankruptcy and the filing fee is paid, a court order for automatic stay is issued by the court. This puts a stop, over all kind of collection efforts like repossession, foreclosure, etc. being made by debt collectors. However, if you have previously filed for bankruptcy within the last year, you might not get automatic stay security or it might be limited.

          1. Submit a repayment plan for court approval

          You and your bankruptcy attorney can come up with a reasonable repayment plan as per your income. This is done by carefully assessing your finances as well as taking the credit counseling course. Once the repayment plan is devised, it is sent to the bankruptcy court for approval.

          1. Creditor meeting within 20-40 days of filing

          The creditor meeting is a hearing which is attended by your bankruptcy trustee, attorney, and any creditors wishing to attend the same. The purpose of the meeting is to discuss your Chapter 13 bankruptcy. Many times, creditors do not appear for the meeting. The information is reviewed and questions answered by your attorney.

          1. Confirmation hearing 20-40 days after creditor meeting

          The proposed repayment plan is reviewed by the bankruptcy court and confirmed if it meets all requirements like –

          • Being feasible (enough income to pay creditors as per proposal)
          • Made in good faith and not to manipulate the bankruptcy process
          • Conforming to bankruptcy laws (precedence to creditors and priority debts)

          6. Secondary counseling after the creditors meeting

          During the bankruptcy process, debtors filing for Chapter 13 bankruptcy are required to finish another credit counseling course. This course helps you develop a habit of living on a budget and getting you ready for life after bankruptcy.

          1. Repay debt every month for 3-5 years

          Repayment plans are effective immediately and you are required to make monthly payments as per it over a course of three to five years. In case, there is any change in your finances due to which you need to modify your repayment plan or change the chapter of bankruptcy (from Chapter 13 to Chapter 7), you can consult with an expert bankruptcy attorney.

          1. Get remaining debts discharged after your bankruptcy ends

          During your repayment plan, most of your debts are paid off. However, any debt that remains after the repayment plan is over, is generally discharged. It is important to remember that some debts like taxes, child support, etc. cannot be discharged, though most unsecured debts are eliminated after Chapter 13 bankruptcy.

          Eligibility for Chapter 13 Bankruptcy

          Whereas Chapter 7 bankruptcy requires you to pass a “means test”, Chapter 3 does not have such a requirement. This does not mean that there aren’t any eligibility criteria. It is important to show the bankruptcy court that you earn sufficient income that you can make your repayment obligations after making necessary payments for secured debts like car or mortgage payments. The court allows you to use income obtained through:

          • Profits from self-employment
          • Income from your job
          • Any benefits (disability, social security, workers’ compensation, unemployment, )
          • Spousal or child support
          • Earning from property sales

          You are also required to meet debt limit requirements as part for Chapter 13 bankruptcy eligibility. The secured and unsecured debts, which keep changing every year, cannot exceed a definite amount. Non-payment of secured debts which are linked to property like house or car can lead to creditors taking the property back. Unsecured debts (credit card and medical bills), on the other hand, are not attached to any property. In case your debt amounts cross the specific limit set by law, you might have to consider another type of bankruptcy (possibly Chapter 11).

          Chapter 13 bankruptcy is available for individuals and not businesses. An individual with a business debt in his/her name can include the said debt in Chapter 13 bankruptcy as business-related debts can also be reorganized in this bankruptcy chapter. In case you are an individual who has been going through a bad financial phase and are looking for a way to get a fresh start, consult expert bankruptcy lawyers to seek a way out through this phase.


            *Are you more than 60 days past due on your mortgage?

            *Do you own a home?

            Are you currently working?

            By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

          • Foreclosure, Bankruptcy and Creditor Harassment

            Foreclosure, Bankruptcy and Creditor Harassment

            Who wouldn’t want a guide on how to handle bankruptcies and make wise decisions with their financial struggles? The book, Consumer Defense: A Tactical Guide to Foreclosure, Bankruptcy, and Creditor Harassment: The Luxury of the Informed, is a guide that is greatly welcomed by individuals and business owners. The authors, Ahmad T. Sulaiman, and Matthew H. Hector have laid down the concepts of consumer law in such a simplified format that it is easily understood by anyone. Lawyers and non-lawyers find this guide to be quite beneficial and it isn’t an understatement to say that this guide has been getting good reviews too!

            Consumers who encounter financial setbacks and see themselves in crisis situations generally panic and act in fear! This guide is primarily intended for them to help them make some important and informed decisions – on the basis of important consumer law oriented concepts. With the knowledge of consumer law, the consumers or individuals can be prepared to face their crisis moments without anxiety or fear! They will also know to protect their consumer rights appropriately.

            It is important to mention that one of the authors Ahmad T. Sulaiman has also written Managing Foreclosure Cases in a Recession (Thomson) and Illinois Foreclosure Defense Strategies (Aspatore Books). He practices law and specializes in real estate law, student loan law, bankruptcy law, mortgage foreclosure law, and the civil litigation law (special focus on FCRA, FDCPA, TCPA, and RESPA). His clientele includes individual investors, individual homeowners, business owners, and commercial property owners.

            Grab a copy of this of Consumer Guide on Amazon.com and the consumers are best assured of some expert guidance through it. In situations that go beyond your capability and if you seek some guidance on creditor harassment or foreclosures, Recovery Law Group will come to your aid with their adept team. Based in Los Angeles and Dallas, the team of bank attorneys will standby to handle your financial crisis situation and help you with great advice. So speak with them – 888-297-6203 for a quick consultation and talk about your bankruptcy queries.


              *Are you more than 60 days past due on your mortgage?

              *Do you own a home?

              Are you currently working?

              By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

            • Factors to Consider Ahead of the Bankruptcy Filing

              Factors to Consider Ahead of the Bankruptcy Filing

              Filing of bankruptcy can be an immediate decision. However, remember that there are certain factors to be seriously considered if you are determined to file for personal bankruptcy. Whether it is to be believed or not, these below actions by the debtors just ahead of the procedure of bankruptcy filing can invite a lot of scrutiny from the bankruptcy trustee who will be assigned to the filed petition. Let’s see what can cause the debtors trouble –

              1. Taking a cash advance while you are amidst financial crisis and on the verge of filing bankruptcy can land you into trouble. This act might be treated as fraudulent activity and will invite more investigation once the case will be reviewed. In most cases, a significant portion of this cash advance needs to be paid back once the debtor files for bankruptcy
              2. If you are paying off a family member when you are about to file bankruptcy can be investigated too. Because you owe them money, it makes them equal to any other creditor in your bankruptcy case. Paying them off during the time of bankruptcy case will also not be permitted
              3. Don’t retitle or transfer assets when you are thinking about bankruptcy. It will be treated as an attempt to protect your assets from liquidation, especially in a Chapter 7 bankruptcy. It could have the counter effect leading to the bankruptcy trustee taking possession of it. Debtors should ideally consider other ways of protecting their assets instead of trying to transfer them to others.

              A proper plan is always needed in the midst of challenging times of financial crisis and if you are considering a bankruptcy filing. Work with experienced attorneys at Recovery Law Group, who can explain the laws that govern your states and warn you about actions that could cause you trouble. They can also guide you with the processes to appropriately protect your asset. Seek an appointment with them over the phone (Dial-in: 888-297-6203). An experienced bank attorney, either from their offices in Los Angeles or from Dallas, will clarify all your queries just ahead of your bankruptcy filing.


                *Are you more than 60 days past due on your mortgage?

                *Do you own a home?

                Are you currently working?

                By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

              • Evading Payments – Bankruptcy Fraud on the Rise

                Evading Payments – Bankruptcy Fraud on the Rise

                Though the bulk of the bankruptcy claims that have been filed in the last year in the United States have been for real reasons of overpowering claims, There has been a little number of fraud cases of bankruptcy too. Amongst the honest and hardworking Americans, There is certainly a subset of people who have put up credit card debts as they have withdrawn payments. There are also fraudsters who hide their individual assets so as to keep them from lenders and also use bankruptcy to hide their different types of fraud that they use to achieve a personal profit over the fact that bankruptcy is a relief to many who struggle with compelling creditors.

                What is the outcome of these fraudulent processes?

                The consequences of complicating bankruptcy especially through deliberate fraudulent activities can be very adverse

                • Prolonged and stressful bankruptcy journey
                • Alleged fraud claims from the creditors and the bankruptcy trustee
                • Denial of the bankruptcy discharge
                • Prosecution under the charges of a federal felony

                For the sake of the clients who work with them, Recovery Law Group, who serves the customer base in Los Angeles, California and Dallas, TX have formulated the below scenarios.

                The below situations talk of common bankruptcy frauds and the outcome of those that the filers/ creditors end up facing-

                Common forms of Bankruptcy Fraud

                Any fraudulent behavior, While the process of bankruptcy is carried out, can result in facing legal consequences and can amount to bankruptcy fraud. It is technically a crime that has its own set of after effects and legal actions associated with it. Here are some common forms of bankruptcy fraud –

                • Incorrect statements/ false information under oath – Generally, All the bankruptcy filings are made under the penalty of perjury. Hence signing all documentation in lieu of, The bankruptcy process the debtor stands by the fact that the furnished information is true and correct. Also in the meeting of creditors, The debtor is kept under oath. By being dishonest in either of the above situations, The debtor may be adjudged and prosecuted for perjury.
                • Concealing the assets–Furnishing all information with concerns to the possessed assets is a mandatory procedure in the bankruptcy process. The assets could either be of the exempt or non-exempt type. As a debtor, never exclude any property assuming that it cannot be traced like bitcoin or never transact the property through any fraudulent transfers.
                • Piling up credit card debts/ Evading payments–This is a common type of bankruptcy fraud that occurs even before the debtor files for bankruptcy support. If a debtor proposes to file bankruptcy, then he or she needs to stop the usage of his credit cards and avoid piling up the debts on them.

                Consequences of dishonest processes in bankruptcy

                Adopting dishonest procedures or false statements in the bankruptcy process can have adverse effects on the filed bankruptcy case. A slight doubt in the process that is sensed by the creditor or the bankruptcy trustee can lead to the filing of an adversary proceeding. In cases of filing of an adversary proceeding, the bankruptcy trustee or the creditor may challenge the debtor on the credibility of the bankruptcy case either preventing the discharge of debts or by revoking the eligibility to file Chapter 7 bankruptcy. Besides these, the bankruptcy court also administers the situation and handles the fraud procedures as below:

                • Deny few not all: In some cases, the court may permit the discharge most of the dischargeable debts but still deny it for the other types
                • Deny all: Adverse scenario witnesses the denying to the discharge of every debt and hence the entire purpose of filing bankruptcy is wasted
                • Conversion to another Chapter: The Chapter under which the bankruptcy case had been filed, says Chapter 7, can be later changed to a Chapter 13 bankruptcy. In this scenario, instead of facing a discharge of the debts, the debtor ends up paying them over a period of time to be finally relieved of them
                • Case dismissal: In case the court is convinced of intentional fraudulent behavior in the case, Then it can completely dismiss the bankruptcy petition. If the removal is done with racism, Then the debtor will not be able to file for bankruptcy for a critical period of time.

                Though it may sound as serious as it can get from the view of the court proceedings, The most adverse consequence is the federal crime angle to the bankruptcy fraud.

                Federal Crime

                The US Code for Bankruptcy, states that it is a federal felony to cheat knowingly or do any fraudulent activities in bankruptcy cases. It may include any of the below:

                • Making a false statement under the penalty of perjury
                • Concealing of properties/ assets
                • Offering a bribe
                • Concealing, falsifying or destroying of information (specifically financial records)
                • Making a false oath or account

                A ‘scheme or artifice to defraud’ has been mentioned in section 157 of the US Code of Bankruptcy where businesses can be prosecuted for performing fraudulent activities on behalf of the consumers involved. A good example would be the performance of a business that assures consumers of being saved from eviction due to the backlog of rents, But in turn, records bankruptcy in the name of the consumer.

                Conclusion – Being Honest help

                The conclusion is straightforward and simple. Since we are dealing with the Government and also the creditworthiness of us is at stake, It is always safe by being honest and transparent. In most cases, the filers are desperate and honest people. In some cases, the creditors can be deceiving and will look out for opportunities against the debtor.

                Experienced bankruptcy attorneys from Recovery Law Group can help you formalize a straightforward and honest process for your bankruptcy filing. Reach out to the skilled team!


                  *Are you more than 60 days past due on your mortgage?

                  *Do you own a home?

                  Are you currently working?

                  By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                • Different Ways of Supplementing Your Income

                  Different Ways of Supplementing Your Income

                  Los Angeles is one of the most expensive cities in America, where the cost of living is 43% more than the national average and cost of housing is more than Two times the national average. This has led many people residing here to live under debt or impatiently wait for their pay cheque every month. Many people are looking for alternatives to supplement their income. The gig of short-term work is on the rise. Selling your stuff on the internet to increase your income is a great way. Thanks to the internet, A lot of options are available for people to sell particular belongings either online or offline for cash.

                  Know Everything about Selling Stuff Online

                  Many online marketplaces are thriving thanks to the internet boom. In case you wish to sell stuff online, some of the popular options include:

                  • eBay — Here any object is sold at a fixed price auction to the highest bidder. The stuff that is mostly sold on eBay combines vintage merchandise, niche products, collectors’ items. It is important to remember that there are a number of fees associated with the site listing fees, final sale fees, Paypal processing fees, etc.
                  • Craigslist – IS a common choice for one-off sales. Listing and selling here are free where most sales are completed personally unlike eBay where the entire transaction takes place online.
                  • Facebook Marketplace – Here, You are selling to people you already know. FB Marketplace accounts are linked to Facebook profiles so you are aware of the identity of the buyer as well as a seller here, Unlike Craigslist where there is anonymity.
                  • Amazon – In case you have a number of the same type of products to sell, Amazon is a great option.
                  • Etsy – Etsy is the preferred listing and selling the place for all creative and crafty items.

                  Since first-timers often end up making some mistake while attempting to sell stuff online, it is important to be aware of tips which can help make more money.

                  1. Never ship product till payment is received. If you are selling stuff online, trusting the other party is important, However, Not at the cost of getting fooled or being cheated. Blind faith while selling the stuff will result in you being in for a monetary loss. It is important to see that the payment is credited before dispatching the stuff.
                  1. Keep margin for shipping costs. Shipping off stuff requires money. You need to be aware of how much money you will require to spend on shipping before actually putting a price on your stuff. U.S. Post Office postage cost calculator comes in handy in such cases.
                  1. Ensure personal safety. In case an online business deal is to be completed in person, It is important to ensure your personal safety. Choose a public place during normal business hours for the meet. In case a local police station offers SafeTrade Stations where online buyers and sellers can exchange goods and cash that is a better option. If you do not wish to share your address with strangers, You can always rent a P.O. Box from the local post office.

                  Everything about Selling Stuff Offline

                  In case you wish to sell your stuff directly without any additional charges like shipping costs, transaction fees and avoid any shady people you meet online, then offline selling options are also available. Offline sale options include:

                  Garage sale – If you wish to sell off stuff the traditional way, holding garage sale is an excellent option. All you need to do is find out the local rules to figure out the details and advertise about it. It is a great way to get rid of all your unwanted stuff.

                  Pawn shop – If you want instant cash for your stuff, pawn shops are your best bet as they pay you immediately. However, The price that they pay is generally below the market value of the item.

                  Consignment shops – Though they might appear similar to pawn shops, consignment shops are different. In this case, your property is under your ownership till it is sold. The proceeds are split with the shopkeeper once it is sold.

                  Trade-ins – People can use this way to sell off the automobile and similar stuff to reduce the price. Many businesses allow people to trade stuff (gaming consoles, old video games, smartphone, etc.) at a discount, in-store credit or cash.

                  Taxes are an integral part of your pay. When you work for an employer, Your employer cuts taxes at source, however, When you make any earning as an independent contractor or a freelancer or even by selling your stuff, every penny you earn is yours. It is important to remember that you do owe taxes in this case too. You need to assure that your income is set aside and provisions are made to cover the income tax bill as well as the self-employment tax. Though there probably won’t be any form listing available for the money you earned by selling your stuff, You are required to report the same to the government. Understanding what you had originally paid for the stuff can help as you can deduct that amount while paying income tax.

                  Though both online and offline selling methods are lucrative, it is important to make a decision regarding the best one for you. In case there is an urgent requirement for cash, then pawn shops or trade-in are a good option (Sometimes, Facebook Marketplace or Craigslist can also give quick results). In case, time is not short, then all options are open for you. If monetary problems are the reason why you are wishing to sell your stuff, then it is important to consult bankruptcy lawyers. They might find another way where you don’t have to sell your prized possessions and yet get out of trouble. Consulting with lawyers makes you aware of your options vis-à-vis bankruptcy and clearing debt problems without losing any property.


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                    By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                  • The Decline in Chapter 11 Filings

                    The Decline in Chapter 11 Filings

                    There is certainly a vivid decline in the rate of filed bankruptcies for business across the entire United States. Bankruptcies are commonly filed by only small businesses that have annual revenue of 2.5 million or less. These small business organizations generally approach the courts for their tougher conditions towards the business operations. Only a few states such as Illinois witnessed Chapter 11 filings demonstrating a gain in 2014. The increase was close to 6 percent at the end of the first quarter of 2014. This increase has been majorly contributed by large casinos in Illinois such as Harrahs, Showboat, Caesars, and Horseshoe. These casinos have filed for Chapter 11 bankruptcies in the Northern District of Illinois.

                    This situation has been assessed by economists and they cite a few reasons for this declining trend. The lower interest rates associated with business loans have urged the businessmen to borrow more but these businesses that underwent financial struggles have already closed in the year 2007 when the recession was seen. Another reason is that the filing of bankruptcy is generally a costly affair and hence businesses start looking for other alternatives to solve their debt issues.

                    There is a forecast for the increase of Chapter 11 filings in the coming days as there has been a rise in the interest rates of business loans and some of the already issued ones, like the ones of 2009 are very soon due. So if there is a business that is yielding good revenue yet experiencing financial difficulties and battles paying their dues, then filing for business bankruptcy is a viable choice. By working towards the restructuring of debts, the business can get the financial relief that is needed and can be brought on its track with better control.

                    If you are running a business that doesn’t generate revenue in order to pay your business dues, then it is better advised to reach a law firm like the Recovery Law Group. Their team of bankruptcy attorneys will explain clearly all the process and the outcome of Chapter 11 bankruptcy filing. Recovery Law Group operates in Los Angeles, California and in Dallas, TX. Remember that working with the experts in this field and with an efficient plan of reorganizing the debts in your business, you can gain better control of your business. Call them at 888-297-6203 to avail their services and reshape the financial structure of your business with them!


                      *Are you more than 60 days past due on your mortgage?

                      *Do you own a home?

                      Are you currently working?

                      By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.

                    • Deals & Holidays – Important Financial Lessons for You

                      Deals & Holidays – Important Financial Lessons for You

                      When holidays approach, Every group is frenzied with the thoughts of buying several things for themselves as well for the family. According to the National Retail Federation, Families are expected to spend close to $1000 for gifts, non-gift purchases (like Black Friday deals) and on holiday food. While everyone is easily moved about the season, Holidays are also times that one needs to watch out for cautious spending as this affects the financial status of an individual or a family for the rest of the year. Here is a list of careful moves or important lessons that can help you to spend efficiently and be cautious about your credit – debts that you tend to collect –

                      1. Plan the spending– It is wise to always get a budget that suits your income and the family needs. Involving the older children of the family will teach the habit of knowing what is a priority for the family from the income- the amount that you set aside for groceries, housing needs and also for the holiday spending. If there are younger children at home, Then give them a gift allowance and instill in them the habit of buying within the permitted amount. By this, They will learn the value of every dollar and not treat money as a surplus resource.
                      2. Grab the best deals – Proper research and checking a lot of similar product catalogs can land you into great deals during every holiday season. So don’t grab your desired purchase for this holiday as soon as you lay your eyes on it. Look out for a favorable deal that will contribute towards cost savings. You can always use the savings to buy an additional item to treat you or your children this holiday.
                      3. Savings over Credit – While you provide up for a holiday season, It is imperative that you be prepared for them in terms of saving for the spending involved. With an appropriate yearly plan that includes an investment amount in order to spend on your gifts, The holiday season will be less stressful and can save you from spending on credit.

                      The lessons to your children during the holiday season include the knowledge of interest of rates and how spending on credit will mainly affect the lifestyle later. Imbibe into them a habit of getting a regular allowance from which they can save an amount for their own holiday spending. Another choice would be to lend them an amount within the holidays and then decrease portions from their monthly allowance to make up for it.

                      1. Investments for Holiday Gifts– As your children grow, Teach them that holiday gifts generally do not require fancy dinners, toys or gadgets. Just using for the thrill or happiness of that juncture, They need to be taught of long-lasting happiness or benefits of them for the future. Hence properties would be a wise option for gifts when it comes to the future of your children, Especially stocks and savings bonds. By this, They are exposed to the world of investments and also help them start building a strong financial base.

                      If you are located in California, Los Angeles or Dallas, There are financial consultants who can help you formulate a strategy that will help you combat any kind of catastrophe due to overspending during the holiday season. Firms such as Recovery Law Group have the best company or group of financial specialists who can pick stocks or bonds to gift to your children for your upcoming holidays. They will help in planning wisely for the future of your family too.


                        *Are you more than 60 days past due on your mortgage?

                        *Do you own a home?

                        Are you currently working?

                        By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.