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  • The Best Way to Rebuild Your Credit Score after bankruptcy

    The Best Way to Rebuild Your Credit Score after bankruptcy

    Sometimes, one bad decision can be just the start of many such similar ones. Before you know it, you have amassed a bad credit score and huge loans which you have no means to pay off. This invariably leads to filing for bankruptcy which may seem like the end of the world. However, things couldn’t be farther from the truth as bankruptcy offers you a chance to wipe your slate clean. You could get rid of old debts which kept your credit score down and get a fresh financial start to rebuild your credit score.

    Bankruptcy and its Effect on Credit Scores
    A credit score is a concise way to show lenders your financial position, i.e. how much risk it would be to loan money to you. A high credit score means your debts are paid on time and on a regular basis, whereas a lower credit score means that you are irregular in making payments. It is, however, incorrect to assume that filing for bankruptcy will end up lowering your credit score permanently. Bankruptcy can cause a temporary drop in your credit score. You can use a number of tips to rebuild your credit score.

    How to Rebuild Your Credit Score?
    As per Sacramento based law firm Recovery Law Group, the primary step needed to improve your credit score is to know your credit standing. For this, you need to obtain your credit score copy from any of the major credit reporting agencies. Checking for any errors is essential, such as any debt which should be discharged by your bankruptcy, contact credit agency and get the issue resolved. Stick to basics when it comes to basics, like don’t spend more than you can afford to, pay your bills in full and on time, including debts which were not discharged by bankruptcy (student loan payments).

    The biggest mistake people can make after bankruptcy is to avoid credit altogether. Though initially, it may seem like a bright idea to steer of any new debts, this won’t be of any help to rebuild your credit. Instead of completely avoiding credit responsibility, take it in small steps. The easiest way to do this is to take advantage of a secured credit card which reports to one of the top 3 credit agencies and make regular payments on time. Paying off entire balance monthly helps avoid making interest payments apart from showing lenders that you aren’t a credit risk anymore. Regularly doing the same can lead to a drastic improvement in your credit score.

    Other methods of getting better credit score comprise of getting a new bank account or applying for a gas card. Paying for gas for your car through this card helps rebuild your credit score as it is one of the regular purchases. Signing up for automatic bill pay ensures that all your bills are paid on time, thereby improving your credit score.

    The most important aspect is not to lose your patience during the entire process of bankruptcy. Though these are trying times, ensuring that you keep making regular payments and develop good financial habits will go a long way in improving your credit score. Make regular credit score checks and soon your ratings will increase with time.

    Bankruptcy filing offers a chance for people to not just wipe off their dischargeable debts, start fresh and improve their financial condition. By taking appropriate steps to fix your credit score you can finally breathe free. Consult bankruptcy lawyers to help you guide through the process and inform you of all options.


      *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.

    • Taking Care of Student Loan Debt after Bankruptcy

      Taking Care of Student Loan Debt after Bankruptcy

      If you are unable to pay off your creditors, filing for bankruptcy is one of the best options available. However, there are some financial obligations like student loan debt, some taxes, child or spousal support, etc. that survive bankruptcy filing unless you can prove that repaying them will become a huge financial burden. Can debtors actually get a fresh financial start, if they still need to pay student loans? If you ask Los Angeles based lawyers of Recovery Law Group law firm, the answer is yes.

      Tips to Manage Student Loan Debt after Bankruptcy

      1. The 1st and most important step to take after your bankruptcy discharge is to contact your student loan lender to rearrange payments. Ideally, you should prepare a strategy to repay your student loans before you get your bankruptcy discharge.
      2. Find out your repayment options. Student loans can be government and private. Government loans provide more scope for deferment and loan forgiveness than private ones, so opt for those options.
      3. Select your repayment options by finding out how long it will take you to repay your student loans. Choose whether you wish to repay your student loan in 5-7 years or want smaller monthly payments to continue over a longer period of time and/or a chance for forgiveness after 25 years.
      4. Whichever option you choose for repayment, make sure not to take a repayment plan which hampers you from saving money and creating an emergency saving account. Creation of a savings account is extremely essential to ensure that you do not end up in a financial mess.
      5. Always keep your unsecured debts to a minimum after bankruptcy. Credit card lenders find people just out of bankruptcy as extremely lucrative clients, since after bankruptcy discharge, they have very few to no debts to pay. Though taking a credit card will improve your credit ratings, unnecessarily accumulating debts will cause you to default on student loan repayment plan.


        *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.

      • Trust Palm Beach County Property Management to Find the Best Tenants for Your Home!

        Trust Palm Beach County Property Management to Find the Best Tenants for Your Home!

        Best is a term that is ambiguous when it comes to abstract nouns. Thus what is “best” tenant for you might not be for another, even your closest friend or relative. So it is “best” to say that you require a model or ideal tenants for your rental home. However, finding one is easier said than done. It won’t be incorrect to say that you are looking for the proverbial needle in a haystack. However, the work can become fairly easy when you trust professionals for this. Palm Beach County Property Management offers to take care of the issue by sorting through the various candidates so that you can finalize the deal with one of the most appropriate tenants from the lot.

        There are a large number of management and consulting groups involved in taking care of different kinds of rental properties (single family homes, condos, apartments, duplexes, etc.) across Palm Beach County. It won’t be incorrect to assume that you will be saving not just time, money, effort and lot of frustration and disappointment if you outsource the work of renting out your property to the professionals. Since a lot of knowledge, experience, and struggle is involved in the process of finding the ideal tenant, many working professionals trust property managers to do the job for them.

        Palm Beach County – The Wealthiest County of Florida

        The 3rd most populous county of Florida is one of the 3 counties in South Florida to make up the Miami metropolitan area. With constantly increasing population, it is one of the most popular choices for real estate development. Initially populated by Native Americans, before the European expeditions in the area. Amongst the first non-Native American residents were African Americans who were either former slaves or descendants of them. The county has a dedicated airport apart from expressways and major highways which connect it to other parts of the state, with railroads and seaports offering other ways of connecting. Agriculture is the 2nd largest industry after real estate development. It is, therefore, no wonder that a lot of people are putting their money where they expect great returns. This, in turn, has opened up avenues for Palm Beach County Property Management services too, catering to huge demand for home sales and rental property management.

        Why You Should Hire Palm Beach County Property Management for Your Property?

        It won’t be incorrect to assume that people invest in property to get maximum returns from their investment. However, the chances of you getting good returns on your investment can only be if you are able to rent out your property at the best rates. For this to take place, either you must have ample amount of time at hand, apart from the dedication and knowledge of managing the property and related issues, or else, you can trust professionals like Palm Beach County Property Management to get the desired results. Here are a few reasons why you should hire professional property managers:

        Get More Than Your Thought

        Trying to find good tenants without hiring property managers as they will charge you a certain amount, is equivalent to being penny wise and pound foolish. Some people do not realize that in the long run, hiring competent property managers not only saves them a lot of money, thanks to better care of the property but also opens up avenues to get better tenants who not only give good rent but also keep your property well maintained.

        Save Huge Amount of Time & Hassles

        If you have a full-time job, no matter how good you are with time management, you still won’t be able to manage the task of being the property manager of your home. Preparing property for new tenants, tracking rent payments, finding vendors, taking care of repairs and maintenance, collecting late fees, dealing with bad tenants, etc. can give any normal working person nightmares. Unless you are willing to let your time and health suffer, it is best to trust Palm Beach County Property Management to get things done.

        Get Better Tenants

        An experienced property manager knows all the tricks of the trade. They screen through the list of potential candidates to weed out any with previous bad history so that you are able to get the best tenant of the lot. Moreover, since they are professionals, they have a bigger pool of applicants at their disposal, to begin with. Their widespread advertising and publicizing leads to a waitlist of potential renters which ensures that your property gets leased out fast.

        They Can Deal With Laws

        Being a landlord involves a lot of laws, which most laymen are not even aware of. Thus hiring professionals can save you from any inadvertent legal hassle that can take place because of your ignorance of the laws. A lot of laws (both state and federal) are stated to prevent any discrimination during selecting a tenant. Since property managers are well versed with these laws they ensure that the laws aren’t broken. Moreover, if any tenant needs to be evicted, it can be done faster, cheaper and within the law.

        Keep Things Professional

        When you hire any property manager, you create a buffer between yourself and the tenant. This professional distance can come in handy as becoming personally involved may cause you to become lenient and lose out on benefits or become defensive when it comes to complaints and issues raised by the clients. Since renting out property is a business, it is best left to professionals like property managers.

        Considering that there are a number of advantages of letting Palm Beach County Property Management take care of the entire rental process, it is best if you let them find the best tenant for you. Not only do you end up saving time running behind contractors, plumbers, electricians, etc., but your property is also in good hands. It is a win-win situation for property owners as they get rent on time 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.

        • Should You Consult Wellington Property Management if Your Tenant Has Not Paid the Rent?

          Should You Consult Wellington Property Management if Your Tenant Has Not Paid the Rent?

          People often wonder whether they should trust a complete stranger like property manager or real estate agent to find the best tenant for your property; after all it isn’t their property to begin with. Well, you couldn’t be more wrong! Frankly speaking, there is a difference between the way amateurs and professionals work. No matter how passionate you are about your property or how driven you are to find the “best” for you, you simply cannot compare with the professionals. It is their bread and butter; the thing that provides them means to support their family. Nobody could do a better job than them, because they are professionally trained for it. Can you: (more…)

        • Shattering Common Myths about Bankruptcy

          Shattering Common Myths about Bankruptcy

          Money lending is an immensely monetary satisfying business. One of the major reasons why credit card companies and other private lenders thrive is because of the fact that people once used to live beyond their means are a golden goose. They ensure that you are always in debt so that they can make money off you. The biggest way to do this by making bankruptcy, which incidentally, is the best legal resort to get your debts waived off, as one the worst thing to happen to you. To dispel false ideas about bankruptcy, Sacramento based law firm Recovery Law Group busts some of the most common myths associated with bankruptcy while informing why you should not believe them.

          Myth 1

          Filing for bankruptcy will result in you losing all your property and money. For many people, who are under heavy debts, the worst nightmare is to have everything they possess being taken away. Believing in this myth, many debtors avoid filing for bankruptcy, thinking they are protecting their assets. However, the longer you delay filing for bankruptcy, the more your dues accumulate, giving your creditors a chance to use legal recourse against you and seize your money as well as property. Contrary to the misconception, filing for bankruptcy can hold all legal process to sell off your assets. Bankruptcy actually helps protect your assets from all those people claiming a piece of you.

          Myth 2

          Filing for bankruptcy means you will never be able to purchase a car or home. Unfortunately, despite being completely false and ridiculous, many people believe this myth and refrain from filing for bankruptcy. However, bankruptcy provides debtors with a clean financial slate, thanks to which, they can rebuild their credit score. After clearing their dues as per the bankruptcy chapter, they can end up buying a vehicle or a home within a few years if they work on their finances.

          Myth 3

          Hiring a specialized lawyer and filing for bankruptcy is a lengthy, tedious and expensive process which in times of financial distress is something the debtor cannot afford. Unfortunately, filing for bankruptcy is relatively cheaper than fighting legal battles to save your property from the clutches of the creditors. Your creditors will file a lawsuit to claim any and all unpaid dues which will result in you losing your money and property. The smarter option will be to use your money to file for bankruptcy, as you have a better chance of being free of the huge debt you have accumulated than fighting off creditors.


            *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.

          • Bankruptcy Basis – How To Get Discharge in Bankruptcy?

            Bankruptcy Basis – How To Get Discharge in Bankruptcy?

            Bankruptcy discharge varies on the type of bankruptcy chapter the case is filed under by the debtor. Bankruptcy discharge relinquishes a debtor from any personal liability for some specified types of debts i.e. a debtor is no longer legally bound to pay any debts that are discharged by the court. Since the discharge is permanent, creditors are prohibited from taking any action (legal action or communication with the debtor, letter, phone call, personal contact, etc.) for the collection of discharged debts. Though the debtor is not to be held personally liable for any discharged debts, a valid lien (charge upon specific property to ensure payment of debt) that hasn’t been evaded will remain after the bankruptcy case. Thus, a secured creditor can enforce the lien to recover the property secured by the lien. (more…)

          • Rules for Debt Collectors – When and How They Can Contact You?

            Rules for Debt Collectors – When and How They Can Contact You?

            Debt collection attorneys can inform you that as per FDCPA norms, any debt collector can contact you by mail, in person, by telegram or telephone only during “appropriate hours” i.e. generally between 8 a.m. and 9 p.m. Also, within 5 days of 1st contact with you, the debt collector is expected to send you a written notice informing you: (more…)

          • How to Prevent Bank Levies

            How to Prevent Bank Levies

            In case you have incurred huge debts and are in no financial condition to pay them off, the best resource available to you is to file for bankruptcy. To do the same you can either use one of the bankruptcy lawyers to file bankruptcy for you or you can do it yourself. However, as Sacramento based law firm Recovery Law Group explains, many times debtors filing for bankruptcy without any help from lawyers, end up into financial troubles like post-bankruptcy filing bank levies. (more…)

          • How to Recover your Finances After Bankruptcy?

            How to Recover your Finances After Bankruptcy?

            Bankruptcy is a hard chapter in an individual’s life, however, a very long road lies ahead after your case wraps up. Any and all financial decisions you make after the bankruptcy case is over are going to be equally important. For regaining control of your finance, it is important that you consult expert bankruptcy attorneys such as those available at Los Angeles based law firm Recovery Law Group.

            Tips to Rebuild Credit after Bankruptcy Case

            The most important point to take care of, once you are through with your bankruptcy case is to clear your financial dues and start fresh. It is easy to start a fresh credit score by using the following tips: (more…)

          • Unraveling Bankruptcy Myths – Common Misconceptions about Bankruptcy

            Unraveling Bankruptcy Myths – Common Misconceptions about Bankruptcy

            Bankruptcy is commonly thought of as a result of reckless spending. Many people believe in the adage, a fool, and his money soon part ways. Well, that is not always true, especially in bankruptcy cases. There might be a number of reasons why people have to file for bankruptcy, what happens after filing for bankruptcy and how is the credit score affected for debtors and bankruptcy filers. Here’s a look at some of the most common misconceptions related to bankruptcy and professional opinions of Los Angeles based bankruptcy law firm Recovery Law Group lawyers on them.

            Myth 1: Bankruptcy Filers are Careless Clients

            While it won’t be incorrect to think that people end up in financial trouble like bankruptcy when they spend recklessly, it is wrong to assume that all cases of bankruptcy are because of this reason. A huge change in life such as a messy divorce with huge alimony to pay, severe illness and treatment amounting to humongous medical bills or continuous unemployment can also contribute to a person filing for bankruptcy. Statistics suggest that unemployment and the burden of huge medical bills is one of the most common reasons for bankruptcy issues.

            Myth 2: Any & All Debts Acquired Prior to Filing for Bankruptcy are Discharged

            Though a majority portion of any consumer’s debt is discharged, it is wrong to assume that all debts prior to filing for bankruptcy will be discharged. Clean debts like tax payments, child support or court-mandated compensation fees for people who have committed crime from financial slate, etc. cannot be avoided. People who try and run up credit card bills before filing for bankruptcy can additionally face charges of fraud. The debt so incurred is their responsibility.

            Myth 3: Your Credit Score is Damaged Permanently when you file for Bankruptcy

            One of the most common myth is actually not true. Post-bankruptcy filing, debtors can start rebuilding their credit score by applying for a secured credit card. Their credit score can be improved by making timely monthly payments to clear their debts.

            This gives you an idea of how incorrect your approach towards bankruptcy can be. In case you are struggling with financial issues and are contemplating to file for bankruptcy, contact a specialist and discuss your concerns and queries to get a better, clearer picture of the same.


              *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.