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  • What Impact Does Low Bankruptcy Filing in Los Angeles has?

    What Impact Does Low Bankruptcy Filing in Los Angeles has?

    Most of the people living in cities like Los Angeles and Dallas, TX face the dilemma of whether to file for bankruptcy or not. In the last decade, there were quite a large number of people who used to file up for bankruptcy to overcome their debt. However, this number has rapidly declined in the past few years to such an extent that it has reached to lowest of the past 10 years. According to the statistics shown by the United States Bankruptcy Court, the number of bankruptcy filings in Central district of California has dropped down to 9415 in the first three months of the year 2017 and this number is the lowest ever since the year 2007.

    Here we will present some of the statistics based on the local trend shown in the filing of bankruptcy that will help you to understand the impact of reducing filing bankruptcy numbers and hence to decide whether it would be favorable to you or not.

    Latest trends in bankruptcy filing:

    It can be easily deciphered by seeing the above-mentioned figures the filing of bankruptcy has enormously declined in the past 10 years and it has hit a historic low. However, this does not mean that people have overcome the problem of debts completely. Still, there is a large crowd that is filing for bankruptcy to overcome their debts. According to the data presented by the central district of California’s federal bankruptcy court which involves Los Angeles, Riverside, Orange, San Luis Obispo, San Bernardino, Ventura, and Santa Barbara it can be observed that still their bankruptcy filing is one of the most popular ways to get rid of debts.

    As per the data presented in the year 2017, the following numbers can be noted:

    • A decline of 7.6% in chapter 7 filing in which 11769 filings are new.
    • A decline of about 4.1% in chapter 13 filings with 4070 new filings
    • The overall decline of 6.7% in bankruptcy filings with total 15996 new entries

    These numbers were much larger as compared to the ones in the last decade. According to the data of the year 2007, there were about 9400 bankruptcy filings under chapter 7 in Los Angeles which accounts for a 60% increase since the year 2006. There was further an increase of 72% in the next year which is 2008 and it continued till the year 2011 but after that, it gradually started to decline and touch the lowest trend in the year 2017.

    What is the reason for reducing bankruptcy filings?

    It can be inferred that the number of bankruptcy filings has rapidly declined in recent years. Hence it is very vital to analyze and determine the reasons behind this decline. This reduction is not only in Los Angeles and California but is prevalent in the entire United States.

    One of the most speculated reasons behind this decline as stated by the specialists is the decline in medical debts which accounted for potential debts for most of the Americans. Since it is a well-known fact that medical bills accounted most of the expenses by people of United States, it is obvious that reduction in Medicaid bills due to affordable care act and touted economic recovery, have significantly affected the bankruptcy filings.

    The working mechanism of bankruptcy explained:

    The main purpose of bankruptcy is to discharge the debts. As per the provisions of chapter 7 which is termed as the liquidation bankruptcy, an indebted person has to make zero repayments if he is found eligible for it and files for the bankruptcy under chapter 7. He can also keep is property if he uses the exemption law of this chapter. Hence he is able to get rid of various debts via the bankruptcy discharge. However, if you fail to meet the eligibility to file bankruptcy under chapter 7, then you have another option- chapter 13. Filing for bankruptcy under chapter 13 helps you to make a repayment plan and also to reorganize the debts which will eventually prevent you from problems like foreclosure. One of the most amazing benefits of filing bankruptcy is that it helps you to get rid of the creditors and exasperating money collectors by providing an automatic stay.

    Is filing bankruptcy a boon or a bane?

    To know whether it would be beneficial for you to file for bankruptcy or not, you must first consult a well learned and wise bankruptcy attorney like Recovery Law Group and discuss your case with them. You can contact the team on 888-297-6203 and take advice for your case. A good bankruptcy attorney would be able to precisely tell you if you should file for bankruptcy or not and whether you should file for chapter 7 or chapter 13 depending on your account and debt status. You must not fall into the trap of temptations of filing bankruptcy yourself as there are many terms and conditions that you might not be aware of.


      *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 is Post-Bankruptcy Life in LA- Know The Benefits of Filing For Bankruptcy

      How is Post-Bankruptcy Life in LA- Know The Benefits of Filing For Bankruptcy

      After being in debt for a certain period of time, it is wise to file for bankruptcy. However, filing for bankruptcy for the first time can be quite an inquisitive task. You might face numerous questions and doubts about how your life will transform after bankruptcy. A good and experienced Attorney firm, Recovery Law Group can come to your rescue in such a case.

      In cities like Los Angeles and Dallas, TX it is quite common for people to be indebted owing to their lifestyle and standards that eventually lead them to bankruptcy. However, it is an astonishing reality that life after bankruptcy can be amazing too. This is so because your bankrupt life span might just contract to 3 – 5 months if you file for chapter 7 or for 3- 4 years if the filing of chapter 13 is done. And to get your bankruptcy discharged in short span of time, all you need to do is to get a well-qualified bankruptcy attorney. Not doing so might raise the chances of non-discharge of your debts, which will be a bad circumstance.

       Here is a list of few benefits of filing for bankruptcy that you need to know:

      1. There will be no more credit card and medicinal debts

      In major parts of America, medical bills and credit card expenses count for the maximum debts which eventually make them bankrupt. However, qualifying for and filing bankruptcy in chapter 7 can solve this issue. Chapter 7 which is the liquidation bankruptcy sets you free from several debts including credit card and medicinal debts. This law, however, does not gives relief to ones indebted by loans like student loans, taxation debts, etc.

      1. It protects your house from foreclosure

      It is usually advised not to pay your off secured debt like debt for your home with unsecured debt like your credit card. Even the converse of it is a straight no. This is so because it can result in a huge mistake as a homestead is generally considered as an exempted property under chapter 7 bankruptcy as per the equity. Also, under the liquidation bankruptcy, only the unsecured debts are discharged and hence refinancing your home might lead to foreclosure. Filing for bankruptcy can, however, get you an automatic stay which prevents situations like foreclosure and lawsuits, etc.

      1. You will not need to touch your retirement funds for paying the debts

      The liquidation bankruptcy of chapter 7 saves your retirement funds and other social security benefits from the bankruptcy estate. Moreover, if you are a senior citizen, you might also get guidance over estate planning and might also get judgment proof. This means that apart from discharging the unsecured debts, you are also entitled to forward your hard earned money and property to your family and friends. Even if you are of middle age you must not touch your retirement estate to pay debts as these funds are protected under chapter 7 bankruptcy.

      1. Be cautious before paying back to your relatives

       It is highly recommended to pay back the debt to your relatives and family members only after your bankruptcy is dissolved. This is so because if you pay back that debt before the end of the bankruptcy, your pay back money is entitled to be plopped back into your bankruptcy account. However, if the case is urgent, you must take advice from your bankruptcy attorney about this. Also if someone is seeking divorce during the bankruptcy period, it might be beneficial for him/her because this might help them in resolving property divide in a much easier and smooth way. However, again it is recommended that you consult a wise and well-learned bankruptcy attorney over such matters and then proceed.

      1. A new chance to amend your credit and the budget

      One of the best benefits that you get after filing for bankruptcy is that your budget starts to mend in a beneficial direction. Also after a time period of about 7 years, the negative value of the credit stops showing up but the credit report might show the bankruptcy status for about 10 years from the date of filing. This time span is just about 3-4 years in cities like California.

      One thing that you should keep in mind is that your planning of budget includes all the living expenses from the biggest to the minutest. You must ensure that you make all the bill payments and also save a part of your earnings for the situation of crisis. You must keep a check on your credit card reports from time to time. For this, you can also sign up for apps like credit karma, mint, etc that will help you in this work of monitoring your credit score. Such apps also provide suggestions about the most beneficial deals for you considering your current bank account status and credit score. You may also consult the Recovery law group for advice on 888-297-6203.


        *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 to Get Mortgage Post-Bankruptcy? – Read This Guide

        How to Get Mortgage Post-Bankruptcy? – Read This Guide

        Many people think that life after bankruptcy is like living in hell. However, this is just a myth. If you act wisely and take the right decisions, your life after bankruptcy can be quite smooth and back on track. You can also get a mortgage to build your own house but it takes about 2- 3 years for this to happen. Since the present day price of houses is quite huge, hence it is very obvious for the lenders to be much more cautious before lending. Thus, to get a mortgage post-bankruptcy needs proper guidance and planning. This article aims at giving you a brief description on how to get a mortgage after coming out of bankruptcy phase and the impact this phase has on your credit status. For a detailed expert guidance and assistance, you can also visit Recovery Law Group or give a call at 888-297-6203.

        What is the impact of bankruptcy on credit score and mortgage lending?

        The first thing that you need to consider before going to buy a new house is the status of your credit. The most commonly adopted credit score by money lenders is the FICO score. Different lenders follow different requirements and credit score based criterion. Generally, any person who has a credit score of 650 or above is eligible to get a mortgage and for those having a credit score below 650, it might be a tedious task to get a mortgage after bankruptcy. Moreover, if you are one of those who want a mortgage with a better price, then you must maintain a credit score of 700 and above.

        If you do not want to face the tedious requirements of the money lenders, you can opt for FHA (Federal Housing Administration) loans as they offer a down payment option of 3.5% at a credit score of 580 and another down payment option of 20% at a credit score of 540.

        It is vital to note that if your bankruptcy is filed under chapter 13 then it will show up on the credit report until next 10 years but if you filed it under chapter 7 then it gets off just after your filing.

        Various factors considered by the lender before giving mortgage:

        Most of the money lenders follow the FICO formula that considers the below-mentioned factors with decreasing priority order:

        1. Your payment history depicts your ability to pay on time or not. It accounts for about 35% of the total FICO score.
        2. The number and amount of credit you owe to every line of credit holds about 30% of the total FICO score.
        3. The number of your recently started credit accounts.
        4. The various types of credits that you are presently using which may include credit cards, installment loans, etc.

        Apart from the above-mentioned factors that are considered for calculation of the FICO score, there are various other factors also that a money lender takes into consideration before making up his mind to give you a mortgage. Some of the most common factors are enlisted below:

        1. History of any bounced checks
        2. The balance of your bank accounts
        3. The kind of job (a stable job is more preferred)
        4. Whether you have any retirement plans or not?
        5. The debt to income ratio must be good

        The time period required before applying for a mortgage?

        Generally, one has to wait for about 2 years post bankruptcy for applying to get a mortgage. For people who file their bankruptcy under chapter 7 are provided insured mortgages by FHA after 2 years of discharge of their bankruptcy. You can also get a mortgage even before the term of 2 years; however, the interest rates will be larger. Hence it is advisable to wait for at least 2 years duration to get a mortgage at pocket-friendly interest.

        How to get better credit scores:

        Following are the ways by which you can get improved credit scores. These methods are applicable whether or not the bankruptcy shows up on your credit report.

        1. Get a credit card that is secured- this is a counter-intuitive way of improving your credit score. You can take loans and credits from the bank and then repay them in the specified time limit. Doing this will improve your FHA score and liability. It will take some efforts to get a secured credit card post-bankruptcy, but you must not give up easily. However, do not apply for too many of them as doing will increase the financial burden on you.
        2. Try to take up a loan that needs repayments in installments- there are various loans like the car loans and student loans which require the debtor to pay on a monthly basis in the form of installments. Such loans are termed as installment loans. You can take such a loan and then make timely payments to improve your credit score.
        3. Rebuilding the credit report- three of the major credit agencies whose report you must check are Trans Union, Equifax, and It is a very important step after the bankruptcy is discharged so as to rectify if any paid debts are stilling being shown on your credit report. In case of any discrepancy, consult the respective agency and get your credit report correct and updated.
        4. Using rent for payments- using the rent for making payments can be a smart way of getting out of your debts. You must get these rent payments included in your credit report to increase your credit score. For this, you can either contact your property manager if he/ she is cooperative or else you can contact the agencies that report credit to supply your rent payment details to the credit score issuing agencies.

        Lastly, you must have a logical and realistic plan before applying for a mortgage. This is important to avoid any further problems after the discharge of the bankruptcy. For proper planning, you can consult a good bankruptcy attorney who can sort out things for you.


          *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.

        • Filing Bankruptcy in case of Natural Hazard in Los Angeles

          Filing Bankruptcy in case of Natural Hazard in Los Angeles

          Natural calamities cause a huge impact on every individual’s life in every possible aspect. It takes several years for a person to overcome the losses caused by a natural disaster and to get back to a normal life. It causes great mental as well as financial peril on everyone’s life. Many people find it hard to overcome the financial burden due to pre-disaster debts accompanied by post-disaster losses. Hence there is a sudden boom in the number of people filing for bankruptcies immediately after a natural calamity. In recent years Los Angeles and Dallas, TX have seen many natural disasters which have toppled the life in these areas. Hence there is a dramatic rise in bankruptcy cases too. If you are also looking forward to filling bankruptcy then you must visit Recovery Law Group or dial 888-297-6203 for the best assistance.

          How natural disaster does cause an increase in bankruptcy cases?

          It is a common trend that the number of bankruptcy cases increases after the occurrence of a natural disaster in an area. However, this rise may not be immediate because just after a natural calamity, the first priority of people is to get back to normal living condition rather than repayment of loans and debts.

          Another reason behind the delay in filing bankruptcy is the migration of people to new places in search of job and livelihood. Hence they might file for bankruptcy from their new place after they settle down there. Also, in case of a natural disaster people tend more towards taking debts rather than repaying their previous debts. This is so because they, first of all, want to rebuild their shelter and start a source of income for themselves which requires money. However, this money may sometimes cross their limit to repay the debt and hence lead them to the situation of being bankrupt.

          Hence in all, there is some lapse needed to properly evaluate the effect of natural calamities on the bankruptcy cases. This time can be about 2 to 4 years.

          According to a study conducted by a professor named Robert Lawless of Nevada University, Las Vegas, it was observed that there was an increment of 50% in the bankruptcy cases after three years from the date of occurrence of a hurricane in the region under the study. Also, it was inferred that the cases of bankruptcy rouse more in areas with less worthy houses in comparison to the areas with high-end houses.

          It is better to be prepared rather than losing in Los Angeles:

          Unlike other cities of Southern America, Los Angeles stands third in the vulnerability to a home loss in case of natural disaster hence it is very important for its people to be prepared beforehand for any such calamity. These disasters may be hail, earthquake, tornadoes, floods, etc.

          According to the past trends, it is seen that in hurricane and flood-prone areas, there is a drop in housing rates which is not the case with earthquake-prone regions. This is so because the earthquake is much common in these areas and hence people are much more used to face it as compared to other disasters. Thus, people in such places hardly take up insurance against earthquake which can be termed as just a vague kind of optimism. This practice can be bothersome in areas which show a tendency of being hit by an earthquake of magnitude above 6.5.

          Hence, it is always recommended to take earthquake insurance if you live in areas vulnerable to it irrespective of your capabilities to face the aftermath of an earthquake. This preventive measure must be taken for every kind of natural disaster. It is good to be optimistic about life but it is better to be preventive so that if an unexpected calamity occurs you can get back to a normal life without facing much loss.

          How to prevent yourself from financial peril following a natural disaster?

          As explained above, it is extremely important to beware of any natural disaster and be prepared to face the repercussions of it beforehand. For this to happen, first of all, you must plan and put a small part of your regular income into some kind of emergency fund or insurance scheme. Such schemes might include natural disaster as well as other emergency situations. Thus you must hold an emergency fund always. You can also opt for any natural disaster-oriented insurance scheme if you want to. For this, you can consult a good insurance agent who would be able to guide you through the best possible insurance schemes for you.

          In case of occurrence of any natural calamity, there are certain things that you need to be aware of. Three of the most important things that you need to keep in mind are enlisted below:

          1. If you have opted for an insurance scheme but the insurance agency denies the payment of insurance money that was promised, then you must not surrender. Instead, you must fight for your right and get the promised amount of money as per the insurance scheme that you signed.
          2. You can also go through a financial assistance program run by various government firms to help its public to plan their finances in case of a natural disaster. However, you might have to work hard a bit to know about them and enroll in them.
          3. Another option to get back to normal life could be bank loans for disaster-hit areas that help people to rebuild their homes and provide finances to them for survival purposes.

          And still, if you feel like filing for bankruptcy then you must consult a good bankruptcy attorney who will guide you through the complete filing process and will also recommend you the best possible way to get through the financial peril after a natural disaster. If you live in Los Angeles, then you can visit Recovery Law Group or better guidance on how to file bankruptcy.


            *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.

          • Planning Your Retirement

            Planning Your Retirement

            There are some interesting facts to know about us, Americans, from the research of Northwestern Mutual with regards to our readiness to face retirement. Here we go!

            • There are no retirement savings for one American out of five
            • One in three Americans have less than $25,000 saved, especially those who are nearing retirement shortly
            • The percentage of Americans who are somewhat concerned about affording retirement is about 78%

            These facts reveal the sad state of our fellow citizens who are almost ready to retire and teach us valuable lessons. It also imposes an important question at us. How much should we save so as to live comfortably in our retirement? The solution is definitely going to be different for each of the citizen and will vary widely depending on the state that we live in.

            But, there are general points of tolerance in this planning needed for retirement and we can assess how we can meet them.

            State-wise Variations

            The amount needed for a comfortable living in retirement depends on the state where you intend to live in after you retire. Places like New York and California need more and have high living expenses compared to other regions of the country. Let’s say that you have saved $1 million as your retirement savings, here’s an example to help you understand how long that amount can enable your living in the concerned state. This data has been received by Go Banking Rates and they have collated this information based on the average total expenditures of the American citizens who are 65 years or older. On the gathered data of citizens, The cost of living index has been applied to adjust the differences between each state.

            Longest lasting of the retirement amount of $1 million in states is as follows:

            1. Mississippi: 25 years, 11 months, 30 days.
            1. Oklahoma: 24 years, 8 months, 24 days.
            1. Michigan: 24 years, 7 months, 14 days.
            1. Arkansas: 24 years, 7 months, 4 days.
            1. Alabama: 24 years, 7 months, 4 days.

            The shortest amount of time that the $1 million would last is in the states listed below:

            1. Hawaii: 11 years, 8 months, 20 days.
            1. California: 15 years, 5 months, 27 days.
            1. New York: 16 years, 3 months, 22 days.
            1. Alaska: 16 years, 8 months, 6 days.
            1. Maryland: 16 years, 8 months, 29 days.

            Being in California, This news can be intimidating and inconclusive too! Though you are now sure that the cost of living in California is quite high, you are still unaware as to how much is needed to live comfortably after you retire.

            Retirement needs – Estimate and Save

            Several agencies or financial services firms or organizations provide different methodologies to calculate how much amount is needed to be saved for retirement. Let’s review a few here:

            • Fidelity, One of the financial services firm, recommends that at least one of the salary is saved by an American before he turns 30. It will gradually need to increase as 3x of his salary by 40, 6x by 50, 8x by 60 and 10x by 67
            • 4% rule indicates that all of your retirement expenses need to be met by withdrawing 4% of your total retirement funds.
            • Some advisers recommend saving retirement amount to an extent that it is capable of generating 70-80% of annual pre-retirement income each year. This income-replacement rate can help you get an estimate of what will be the savings fund needed for your retirement.

            These are only guiding principles and there is no hard & fast rule to follow these in similar lines. As stated above, your expenses will vary with the state, and the personal circumstances according to you. The best way to work on this savings plan will be to consult a financial adviser. Recovery Law Group has specialized experts who can understand your needs and suggest a strategy for your retirement savings. They operate in Los Angeles, California, and Dallas, Texas.

            How to Save?

            It is never too late and even if you are close to retirement, There are plans that can assist you to catch up on your retirement savings

            • Excluding paying down high-interest debts first from your retirement can help you save the initial funds for retirement.
            • Tax-favored retirement accounts like 401(k) and IRA are available for the citizens to contribute for the savings need. If you are aged under 50 years, Then the limits are $18,500 for 401(k) and $5,500 for IRA. If you are 50 years and more, then the limits are $24,500 and $6,500 respectively.
            • Retiring late, if a viable option, can give you some extra time to save more for your retirement. Delayed retirement credits, issued by the Social Security Administration, are eligible to you in case you delay claiming Social Security benefits beyond the age of your full retirement
            • Working on a second job can help with more funds to be put into your retirement savings
            • Post-retirement, a part-time job can supplement your savings amount

            As stated earlier, it is never too late to start saving. Do proper research and check on all feasible options. Reach out to experts in this space for any relevant guidance needed! The team at Recovery Law Group are ready to co-work with you – they will strategize the move, plan and execute according to your personal needs and also considering the cost of living of the state that you live in.


              *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.

            • Motions to Dismiss Denied in FDCPA/FCRA Case

              Motions to Dismiss Denied in FDCPA/FCRA Case

              Recently, the Eastern Division of the U.S. District Court Northern District of Illinois passed a judgment by denying all the attempts made by the defendant to dismiss the counts against them. In this FDCPA/FCRA case, the accused –Bayview Loan Servicing, LLC has failed to correct the error in lieu of the plaintiff’s mortgage obligation after filing for a bankruptcy discharge.

              Facts of the Above case:

              1. Before the merger between Countrywide Home Loans and Bank of America in September 2012, the plaintiff had carried out 2 mortgage loans with Countrywide Home Loans. After the merger, his loans were under Bank of America. In December, he was informed that his previous loan of mortgage were now taken over by Bayview loan Servicing and he owes the sum amount to them.
              2. After learning about the new acquision, the plaintiff applied for bankruptcy under chapter 13 in December 2012. As per the Bankruptcy plan, he agreed to surrender his home. An Order of Discharge for the same was received by him in May 2014.
              3. After the Order of Discharge was issued, Credco (Defendant No 2) without the plaintiff’s consent, requested and received all the copied of the plaintiffs Experian Credit Report.
              4. In the mean while, the plaintiff was constantly receiving Post-discharge communications from Bayview. As per the communications, he had failed to pay his mortgage payments and hence faced foreclosure of his home as per the bankruptcy plan.
              5. As per the plaintiff’s claim, Experian and Equifax’s Credit report contained errors as per his mortgage with Bayview. He alleges, that despite informing both the reporting agencies of the error, Equifax did nothing to correct the error. On the other hand, Experian did attempt to correct the error, but failed to eliminate few information.
              6. The plaintiff also alleged that Bayview had violated the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA) and the Illinois Consumer Fraud Act (ICFA). Credco (Defendant No 2) has also been accused for violating the FCRA.

              In this case, the Court accepted the plaintiff’s plea and passed the judgment in his favor. As per the court, FDCPA’s norms were violated by Bayview and hence, all motions to dismiss were denied.

              If you are one such victim and believe that yours rights have been violated under FDCPA or FCRA, do not hesitate to contact the best Recovery law Group Firm to come to your aid. With experienced litigators, your case with be handled with utmost ease and professionalism. To get in touch you can reach out to them on their website or simply call them (888-297-6203) and fix an appointment to get immediate redressal.


                *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.