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  • Can Mortgage Amount Remain Despite Bankruptcy?

    Can Mortgage Amount Remain Despite Bankruptcy?

    Call: 888-297-6203

    Bankruptcy is complex and requires a lot of time to understand. Having an experienced lawyer like those of Los Angeles based bankruptcy law firm Recovery Law Group can be a huge asset. Managing various loans, filing papers and reaffirming certain debts can be quite confusing for the layman. Though, bankruptcy is considered to give you a way out from a huge amount of debts; yet sometimes certain debts might remain even after completion of your bankruptcy chapter. In the case of Chapter 13, individuals pay some portion of their debts through the repayment plan. These may include secured debts like mortgage or car loan, as well as unsecured debts like credit card bills or utilities and priority debts like alimony too. However, there are chances that the mortgage company might ask you for additional payment despite your bankruptcy discharge. This can be a point of contention.

    An individual can owe money to mortgage company even after bankruptcy discharge if they had reaffirmed the loan after filing for bankruptcy. In Chapter 13 bankruptcy Los Angeles, you agree to pay your creditors through the court-approved repayment plan over a period of 3-5 years. This provides your creditors with a percentage of the dues which was owed to them. You also have the option of reaffirming certain loans like auto loan and mortgages if you wish to keep your vehicle and home respectively by making regular payments towards it. Once the loan is reaffirmed it is no longer considered a part of bankruptcy and needs to be paid in full. If this happens, you might end up owing the mortgage company money even after your bankruptcy ends.

    However, if you had not reaffirmed the loan and it is being incorrectly reported, you can take steps to rectify the mistake. This can be done by sending a copy of your bankruptcy schedule “A,” your bankruptcy petition and the copy of bankruptcy discharge to any of the three credit reporting agencies. Once verification regarding the claim is done, account information is updated on your credit report. Additionally, you can also contact your mortgage company for a query related to the amount you are being asked. You might need legal assistance for this. To avail the expertise of experienced bankruptcy lawyers, you can give a call at 888-297-6023.


      *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.

    • How Long Does It Take to Rebuild Credit?

      How Long Does It Take to Rebuild Credit?

      Call: 888-297-6203

      In terms of credit rating, nothing could be worse than bankruptcy. Since it has long term effects on your credit history, you should weigh in all options before choosing to file for bankruptcy. As per Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is a red flag which warns creditors of your financial issues. Depending on the bankruptcy chapter, the bankruptcy record remains on your credit report for 7-10 years. Thus, for this duration, you will be facing negative effects such as getting new credit at reasonable rates, etc.

      Though bankruptcy can cause numerous problems in getting new credit; however, with certain steps like managing your finances and being responsible with your budget, can help improve your credit rating slowly and steadily. Continuous efforts in this direction can help you rebuild credit even before bankruptcy is removed from your credit reports. In case of any doubts related to bankruptcy, call experienced lawyers at 888-297-6023.


        *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.

      • Account Portrayal in Bankruptcy

        Account Portrayal in Bankruptcy

        Call: 888-297-6203

        Bankruptcy can adversely affect your credit report, this is a known fact. However, what most people are unaware of is, how the status of your accounts is affected after bankruptcy. In case any individual files for bankruptcy, the accounts included remain for seven years and are then deleted. According to Dallas based bankruptcy law firm Recovery Law Group , the various representations of the accounts included in bankruptcy are:

        • In the case of Chapter 13 bankruptcy, public records are discharged after five years from the bankruptcy filing date.
        • Accounts included in bankruptcy which were current, remain on credit report for seven years from the date of the bankruptcy
        • In case the account was delinquent prior to the bankruptcy filing, it will remain for seven years from the original date of delinquency.
        • Any account that was reaffirmed during bankruptcy is removed from the bankruptcy In case, you are current on payments on such accounts, they are reported and remain open and active.
        • Any account with positive status (payments current) is reported on your credit report as it has a positive effect.
        • Accounts with late payments are deleted after seven years from the date it became late and was unable to get current ever.

        In case you find a discrepancy in the status of any of your accounts on your credit report, you can get it rectified from the credit reporting bureaus. If you find this difficult, you can take the assistance of an experienced lawyer. Call 888-297-6023 to consult with expert lawyers.


          *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.

        • What to do If You Want to Get a Mortgage Loan After Bankruptcy?

          What to do If You Want to Get a Mortgage Loan After Bankruptcy?

          Call: 888-297-6203

          Though it is designed to relieve you of your debt issues, bankruptcy can cause huge problems for you too; especially when it comes to getting loans. When any individual files for bankruptcy, it becomes public record and appears on their credit report. This makes prospective lenders aware of the risk associated with lending money to you. Hence, you find very few creditors willing to give you the loan at rates and conditions which are acceptable to you. In case you wish to get a mortgage loan after going through Chapter 7 bankruptcy, you will find that things are not exactly favorable for you.

          According to Los Angeles based bankruptcy law firm Recovery Law Group lawyers, getting a loan at favorable terms is a bit difficult, especially after a bankruptcy. Despite getting a discharge for your loans, your credit report is not wiped clean. Since Chapter 7 bankruptcy involves no repayment of loans, this remains on your credit report for a duration of 10 years. Thus, if you wish to get credit at reasonable rates and fees, you need to make efforts to rebuild your credit. This takes time and effort on your part but with good payment history, you can qualify for mortgage loan too!

          Steps for rebuilding credit after bankruptcy

          People who file for bankruptcy have the option of choosing from Chapter 7 or Chapter 13 bankruptcy. They can also decide to reaffirm a loan when they choose to keep a car or home or credit accounts which they could have surrendered. Making continuous and timely payments on such accounts, after bankruptcy, can be a great way to rebuild your credit history. Other steps include:

          • Applying for secured credit cards with the bank. This option is a great choice for people who have no positive accounts open which can help re-establish credit. Using this type of card for making payments on essential items like utilities etc. and living within means can slowly improve your credit rating.
          • You could also ask a family member or friend to co-sign a loan or open a joint an account with you.

          With time and steady work, your credit score improves, allowing lenders to put faith in you. Sometimes, you might even qualify to get a mortgage loan at normal interest rate before the bankruptcy is removed from your credit history.

          When can you apply for a mortgage loan?

          An individual fresh out of bankruptcy discharge, applying for a mortgage loan will not get any offers, even at the high interest rate. However, with time, things can be better, especially if you have worked hard to improve your credit rating. A Chapter 7 bankruptcy remains on your credit history for 10 years while Chapter 13 bankruptcy Los Angeles for 7 years. If within that time frame, you have developed a positive credit and established yourself financially, then you can opt for a mortgage loan. Pre-qualifying for a mortgage is one thing and getting it at a reasonable rate is another. If you get a loan at favorable terms, you are in luck; in case you don’t, you can always wait for your bankruptcy to be removed from the credit report before reapplying.

          Bankruptcy does not need to be a huge problem, especially with experienced lawyers by your side. If you wish to seek expert opinion on your case, you can call 888-297-6023 to schedule an appointment.


            *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.

          • Can Bankruptcy Be Removed from Your Credit Report?

            Can Bankruptcy Be Removed from Your Credit Report?

            Call: 888-297-6203

            People having trouble in managing finances often resort to bankruptcy. It is the last solution to deal with excessive debt which is quite difficult to pay back. Despite getting rid of a huge amount of debt, bankruptcy can have a negative effect on your credit rating. People find it difficult to get a loan, credit card, and even job once they have filed for bankruptcy. According to Dallas based bankruptcy law firm Recovery Law Group lawyers, bankruptcy remains on your credit report for a period of seven to ten years (from the date of filing) depending on the chapter of bankruptcy filed.

            • In the case of Chapter 7 bankruptcy Dallas, since no debts are repaid, the bankruptcy remains on records for 10 years.
            • In Chapter 13 bankruptcy, some amount of debt is repaid over a period of 3-5 years and thus, this type of bankruptcy is deleted after seven years from the filing
            • All accounts included in bankruptcy chapters remain on credit report for seven years. Accounts that were delinquent prior to bankruptcy filing will be deleted after seven years from the original delinquency date, while those that were current at the time of bankruptcy filing will be removed, seven years from the filing

            It is therefore important for people to regularly check their credit report for any discrepancy. Any account included in the bankruptcy should automatically be deleted after the specified time frame. In case this is not the case, you can ask the credit reporting company to rectify the mistake. Hiring an adept bankruptcy lawyer can be a huge asset for your case. If you wish to consult with one, you can call 888-297-6023.


              *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.

            • Everything You Wanted to About Bankruptcy

              Everything You Wanted to About Bankruptcy

              Call: 888-297-6203

              When a person has lost all hope of recovering from financial distress, then the last option left for them is filing for bankruptcy. Though it is an excellent way of getting rid of debts and wiping your slate clean, it has adverse effects too. You might end up losing some of your possessions. Getting credit might be difficult for you for almost as long as the bankruptcy is mentioned on your credit report.

              According to Los Angeles based bankruptcy law firm Recovery Law Group lawyers, bankruptcy is a way out for people struggling to make their ends meet. You end up eliminating your debts entirely or pay just a portion of your debts when you file for bankruptcy. Additional benefits include automatic stay which puts a hold to all collection actions including repossession, wage garnishment, foreclosure, etc. This provides you with the time essential to formulate a strategy to work out your debts.

              Individual debtors can file for bankruptcy under Chapter 7 or Chapter 13. The type and amount of property they can protect depends on the chapter which they choose.

              • Chapter 7

              This type of bankruptcy is known as liquidation bankruptcy and some assets which are not exempted by state or federal laws can be sold off to pay some portion of your debts. Certain assets like retirement accounts, and equity in house and car are exempted from liquidation. Bankruptcy attorneys can guide you better in this aspect.

              • Chapter 13

              In this bankruptcy chapter, you are not required to sell off any property to pay your debts. Your debts are reorganized, and a repayment plan is devised based on your disposable income. Through this plan, you end up paying your debts (either partially or fully) over a period of 3-5 years. Non-compliance of the repayment plan might cause you to lose assets over to the creditors in lieu of the debts.

              Bankruptcy and credit rating

              Bankruptcy is generally a last resort. People who have been unable to pay their debts on time end up accumulating too big an amount leaving no other way out except bankruptcy. Being behind on payments has a negative effect on your credit history. However, since in Chapter 7, no debts are paid, this type of bankruptcy stays on your credit report for 10 years. While, in Chapter 13 bankruptcy Dallas, some portion of the debts is paid off through the repayment plan, the bankruptcy is mentioned on your credit report for 7 years only.

              People who have just had their bankruptcy discharged might find it difficult to get any loan approved, especially at favorable rates. Options available to such people are getting a secured credit card or getting credit from people who specifically assist people who have just come out of bankruptcy. Regular efforts towards building positive credit can help improve your credit rating.

              Effect of bankruptcy on other aspects of life

              Bankruptcy filings are public record. However, everyone does not know about it. These are filed in the PACER system (Public Access to Court Electronic Records) which can be accessed by attorneys and creditors. However, their are charges associated to access the records, thus not everyone will access the records. People can be aware of your bankruptcy in case local newspaper publishes the information. Employers, creditors, and landlords can see your credit report when you apply for a job, a loan or an apartment lease.

              Credit checks are carried out by most employers prior to appointing anyone. A bankruptcy might, therefore, hamper your chances of getting employment, especially in financial and government sectors. A routine criminal background check, however, does not come up with bankruptcy. Current employees rarely need to undergo background checks, thus, if you don’t plan to change jobs, bankruptcy won’t affect you much.

              Improving your credit score post-bankruptcy is important. All financial decision you take will affect your credit score. Thus, emphasis must be made on positive ones like living within a budget, making payments on time. Getting a regular update on your credit score is important to dispute any incorrect entries, which might impact your credit history. Any discrepancies must be reported to the credit rating bureaus. An experienced bankruptcy attorney can help you through different aspects of bankruptcy. In case you need consulting, you can call 888-297-6023.


                *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.

              • When Should You Consider Filing for Bankruptcy?

                When Should You Consider Filing for Bankruptcy?

                Call: 888-297-6203

                Filing for bankruptcy is a decision that should be taken after careful consideration regarding the long term implications, say Dallas based bankruptcy law firm Recovery Law Group. This is a sane advice since bankruptcy has serious ramifications which last quite long. Bankruptcy is an indicator of financial risk. The records are public and appear on your credit report. Thus, every lender becomes aware of your financial situation and getting credit, therefore, becomes difficult. Experienced bankruptcy lawyers say that filing for bankruptcy should always be your last option.

                The most common chapters individuals can file bankruptcy under are Chapter 7 and Chapter 13. In Chapter 7 bankruptcy, no repayment of debts takes place and thus it remains listed on the credit report for 10 years from the filing date. Individuals who file under Chapter 13 repay some part of their debts through a court-approved repayment plan. This type of bankruptcy is therefore removed from the credit report after 7 years from the filing date. Since your credit report is an indicator of your financial stability, mention of bankruptcy for such a long period can ruin your chances of getting any loan. It is therefore important to weigh-in other options before filing for bankruptcy in Dallas.

                Options other than bankruptcy

                People are so accustomed to credit cards that living without them seems impossible, and it is difficult indeed. With bankruptcy on your credit report, you will find it difficult to get credit, except at high interest and unfavorable terms. This will affect your ability to get an apartment, utilities, insurance as well as job. It is important that you get the latest copy of your credit report to assess the debts you owe. You should also seek counsel from a qualified financial advisor for alternatives to bankruptcy. It is possible that through careful budget planning, you might be able to repay your debts over a period, especially if you could get the lender to agree for debt consolidation or debt settlement.

                • In debt consolidation, your debts are combined into a new account. You make just one monthly payment towards this new account to diminish your long-standing loan. Smart budgeting can help you catch up on past payments without the risk associated with bankruptcy.
                • Debt settlement, on the other hand, involves negotiations with creditors to accept an amount less than the balance or reduce the interest rate so that the debt can be settled. Though this also portrays you in a negative light, the repercussions are less severe than bankruptcy.

                If you are in no position to pay your debts, bankruptcy might be the best possible option available. It puts an end to all collection actions like repossession, wage garnishment, foreclosure, etc. and gives you time to get hold of your finances. Since bankruptcy filing is a decision which should not be taken lightly, it is advisable to consider experts before filing it. You can call 888-297-6023 to consult with experienced bankruptcy lawyers.


                  *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.

                • Rebuilding Credit After Bankruptcy

                  Rebuilding Credit After Bankruptcy

                  Call: 888-297-6203

                  Everything takes time. Neither does a person become bankrupt overnight, nor does building your credit. Though bankruptcy is an effective way to get rid of a huge amount of debt, it has repercussions too. It can tank your credit score like anything. Since bankruptcy becomes public record, your efforts to get a loan might be extremely difficult for a long time. Chapter 7 and Chapter 13 bankruptcies remain for ten and seven years respectively on your credit reports. This is because the majority of your debts are discharged without paying anything in the former case, while in the latter case, some portion of the debts is repaid through a repayment plan. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, say the situation is not permanent and can be reversed with some efforts on your part.

                  All accounts mentioned in bankruptcy remain on your credit report for a duration of seven years, from the time they were delinquent or bankruptcy filing date. However, it does not mean that you will be stuck with bad credit and unable to get a loan again. Making certain decisions can help rebuild your credit. These include:

                  • Paying bills on time. Managing your finances is important and the primary step to rebuilding credit. Paying your rent, mortgage or other loans on time can improve your chances of getting credit in the future.

                  • Create and live as per budget. Bankruptcy involves a compulsory course for financial counseling which helps you to better manage your finances. The primary step involved is- creating a budget, avoiding excessive spending and taking on additional debt.

                  • Keep making student loan payments. Student debts are not discharged in bankruptcy; hence you should keep making payments towards this debt. Timely payments will help rebuild your credit score.

                  Qualifying for a new credit card will take time after bankruptcy. Though initially, you might find it difficult, there are ways to improve your chances of getting a standard credit card. One of the best ways is to get a secured card so that you do not indulge in overspending. In case of a secured credit card, the card issuer is given a security deposit which provides a spending limit on the card. Through this, you can easily build your credit after bankruptcy. You can use it every month to pay bills regularly to improve your credit history. Ensure that the secured credit card issuer reports your payments to credit bureaus.

                  Another way of improving your credit rating is by asking a family or friend with good credit to assist you. You could either ask them to co-sign your loan or credit card or get yourself added as an authorized user for someone else’s credit card. However, this has risks involved as if you default, they will be held responsible for paying back your debts. This can alter your relationships; therefore, you must carefully consider this option before choosing it.

                  Managing debts is an integral part of rebuilding credit score. Another option for individuals is the credit-builder loan. This involves small sums with repayment expected within a couple of years. The interest rate is generally high (up to 10%). Before choosing this option, find out if the lender reports to credit bureaus.

                  Having legal assistance is important to get through bankruptcy. Call 888-297-6023 to consult with experienced lawyers.


                    *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.

                  • Are Accounts Included in Bankruptcy Deleted?

                    Are Accounts Included in Bankruptcy Deleted?

                    Call: 888-297-6203

                    When you file for bankruptcy, it is important to remember that any and all accounts that are included in the bankruptcy will find a mention on your credit report. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, inform that these accounts will not be deleted from your credit history immediately after a bankruptcy discharge, but remain on the credit report for a period of seven years. This seven-year duration is from the original delinquency date or the date of the bankruptcy filing. Individuals can file for bankruptcy under Chapter 7 or Chapter 13. The difference in credit reports in either cases is mentioned below:

                    • Chapter 7

                    When you file for bankruptcy, you are expected to mention all creditors and thus all accounts are listed in your credit report as “included in bankruptcy.” Once you get your bankruptcy discharge, which in the case of Chapter 7 takes 3-6 months, the account status gets updated to “discharged in bankruptcy.” Since debts in this chapter are discharged without any repayment, the bankruptcy remains on credit report for 10 years, however, the accounts included in bankruptcy are removed after seven years.

                    • Chapter 13

                    This chapter of bankruptcy involves repayment through a court-approved plan, on completion of which the bankruptcy is discharged after 3-5 years. Since some portion of the debts is paid in this case, the bankruptcy remains on your credit report for seven years. All accounts listed in Chapter 13 bankruptcy are shown as “included in bankruptcy” with their status changing to “discharged in bankruptcy” on completion of the repayment plan.

                    In case any account included in bankruptcy fails to get listed in your credit report, you should approach a credit reporting company and provide Schedule A document from your bankruptcy filing so that the information is updated on your credit report. Having an experienced lawyer can make a huge difference to your bankruptcy case. In case you are looking for one, call 888-297-6023 to schedule an appointment.


                      *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.

                    • Can a Discharged Chapter 7 Bankruptcy Affect Your Credit Score?

                      Can a Discharged Chapter 7 Bankruptcy Affect Your Credit Score?

                      Call: 888-297-6203

                      Bankruptcy becomes public record and finds mention on your credit report, even after the discharge. In case of a Chapter 7 bankruptcy, since no loans are paid back, it is mentioned on your credit report for a duration of 10 years from the date of the bankruptcy filing. According to Dallas based bankruptcy law firm Recovery Law Group, when the bankruptcy filing is discharged, the credit report should be updated to show the status. This discharge status should be extended to include all accounts included in bankruptcy. The update should also be done by the lenders to show that zero balance is owed by the debtor.

                      People who file for bankruptcy should request for a free credit report a couple of months after their bankruptcy discharge to ensure that the same is reflected on all accounts included in bankruptcy. Though you are no longer responsible for paying debts already discharged, yet their mention on your credit report despite being discharged adversely affects your credit ratings.

                      The duration for which accounts remain on your account depends on the delinquency date of those accounts. Generally, the accounts are removed seven years from the original delinquency date irrespective of being included in bankruptcy. In case they were current prior to the bankruptcy filing, they will remain for seven years from the date of the bankruptcy filing.

                      To get over bankruptcy, you need to start making amends. Re-establishing credit can take time, but with steady efforts, the effect of delinquent accounts and other bankruptcy notations gets reduced. After a fixed duration, the accounts included in the bankruptcy as well as your bankruptcy will be removed from your credit report. To know more about your options in case of financial distress, call 888-297-6023 to schedule an appointment with bankruptcy lawyers.


                        *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.