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  • Beware of the Emergency Bankruptcy Scam

    Beware of the Emergency Bankruptcy Scam

    Agreeing to bankruptcy is a decision which takes time. people generally look for options to work out their debts in order to avoid bankruptcy. This is probably because bankruptcy appears on your credit report for 7-10 years. Though it is an excellent way to get rid of debts as well as put a stop to collection actions, lawyers of Dallas based bankruptcy law firm Recovery Law Group, inform that you should be aware of unscrupulous lawyers who are out to get your money in the name of emergency bankruptcy filing.

    Filing for bankruptcy can help you if you are facing repossession or foreclosure on your property. Generally, the procedure involves a lot of paperwork which takes time, even for the most experienced lawyers. When any individual files for bankruptcy, they are required to submit the following documents to the court –

    1. Paystub for the last 6 weeks or longer
    2. Certificate of your successful completion of credit counseling course
    3. Complete list of all your debts and creditors including their addresses
    4. A list of all your assets, your accounts, an approximate value of your assets, etc.
    5. A repayment plan for paying back your creditors in case of Chapter 13 bankruptcy.

    All these documents require time to assimilate, prepare and file. Any mistake in the documents (omission of an important document, missing a creditor name or debt, etc.) can have grave consequences; sometimes leading to the dismissal of the case. If this happens, you are in a worse condition than before. Generally filing for bankruptcy takes 7-10 days’ time.

    Emergency bankruptcy filing option is available in case you are facing imminent repossession or foreclosure issues. In this case, you can file a two-page petition which puts an automatic stay in action preventing all sorts of collection actions. However, you are expected to file the remaining documents within fifteen days of filing the emergency bankruptcy petition.

    This procedure has become a way to earn money by corrupt bankruptcy lawyers who make use of the system to con gullible filers out of their money. These lawyers ask for money to file an emergency bankruptcy petition on your behalf but do not follow it up with the remaining documents. Filing of the petition puts collection actions like threatening phone calls on hold, till your petition is dismissed because of lack of proper documents. This leaves you in a condition worse than before.

    It is therefore important to be vary of advocates who suggest emergency bankruptcy filing when you first meet them. Competent bankruptcy attorneys will take their time to study the case and come up with a suitable plan of action benefiting their client. If you are looking for experienced bankruptcy lawyers for your case, 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.

    • Considering Bankruptcy To Get Rid of Debts? Here are Things You Should Remember

      Considering Bankruptcy To Get Rid of Debts? Here are Things You Should Remember

      Call: 888-297-6203

      If you have been struggling with financial problems for long, bankruptcy can be the way out of the financial mess. It might ideally not be your chosen way to rebuild credit, but it sure does give you a fresh economic start which you deserve. However, due to the numerous myths associated with the bankruptcy filing, people are often worried if it is the best way to go ahead. To clear doubts, lawyers of Los Angeles based bankruptcy law firm Recovery Law Group point out the circumstances where bankruptcy can be beneficial:

      • You are facing repossession or foreclosure on your property
      • A major portion of your debts is due to unsecured debts (medical bills, credit card debt, personal loan, )
      • Have taken secured debts like a second mortgage, tax liens, etc.
      • Are being constantly harassed by debt collectors
      • Are facing wage garnishment
      • Have had bank accounts frozen
      • Have a judgment lawsuit filed against you

      Though, bankruptcy is a difficult process to understand, having experienced bankruptcy lawyers by your side can make a huge amount of difference. In case you wish to consult with experts regarding your case you can call 888-297-6023. While contemplating bankruptcy, it is important to keep certain factors in mind:

      • Using credit card before filing for bankruptcy

      Since unsecured debts are discharged in bankruptcy, people think it is okay to use their credit card to the maximum credit before they file for bankruptcy. However, when you file for bankruptcy, your charges of up to six months prior to bankruptcy filing are studied. In case it is found that charges were added to the credit card with no intentions of paying back, creditors can challenge the inclusion and subsequent discharge of the debt. Thus, you might end up owing money to credit card companies despite bankruptcy discharge.

      • Excluding an income source

      Many people have multiple sources of income; however, they might not count some of them as part of the household income. This mistake could prove costly as it might be considered a way of concealing income when you file for bankruptcy. Any income, no matter how minor, should be included in household income while filing for bankruptcy if you wish to get a bankruptcy discharge.

      • Avoid forging your way

      Sometimes, in a desperate bid to get rid of your debts, people try to hide their assets or income to qualify for a certain chapter of bankruptcy. However, bankruptcy trustee going through the entire documents accompanying your petition is bound to come up with the facts. In case you have committed any fraud or forgery, your case will be dismissed, and you might be barred from filing for bankruptcy again. It is therefore prudent to be honest while providing information during bankruptcy.

      • Filing without an attorney

      Bankruptcy is a typical process which takes years of practice to master. Though people can file for bankruptcy without a lawyer too, it is not advisable as the process is quite complex. Discussing your case with experienced attorneys is important to know which option of bankruptcy would be ideal for your situation.

      If you have been struggling with finances for a long time, it is important that you seek the advice of professionals. Expert bankruptcy lawyers Los Angeles can help you get over financial problems by suggesting the best way out.


        *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.

      • Drawbacks of Chapter 7 Bankruptcy

        Drawbacks of Chapter 7 Bankruptcy

        Call: 888-297-6203

        When it comes to bankruptcy, most people prefer Chapter 7, as it lets you get rid of all your debts without losing any assets. Moreover, the discharge is also guaranteed within a relatively smaller time frame (3-6 months) compared to Chapter 13 bankruptcy (3-5 years). However, despite the numerous benefits associated with it, it is important to weigh in the losses due to this bankruptcy chapter before deciding to pursue it further. Los Angeles based bankruptcy law firm Recovery Law Group lawyers advise that being aware of the pros and cons is important to avoid disappointment later in life. According to them, the major drawbacks of this bankruptcy chapter are:

        1. You might end up losing some or all your non-exempt property which is liquidated to pay your unsecured creditors.
        2. There are certain loans that will survive the Chapter 7 bankruptcy. These include child support and alimony, student loan debt, certain taxes, etc. If these constitute the major chunk of your debts, your filing for bankruptcy and getting a discharge won’t be of much help.
        3. The biggest disadvantage of Chapter 7 bankruptcy is that it remains on your credit report for a duration of 10 years! This can be a huge disadvantage if you are looking for fresh credit like a mortgage or even a new job.

        Though the advantages of Chapter 7 bankruptcy may probably outweigh these points, it is important to be aware of what you are getting into. If you feel your financial situation will improve after filing for Chapter 7 bankruptcy Los Angeles, you should go ahead with it. An experienced bankruptcy lawyer can help make things clear for you. In case you need a 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.

        • Bankruptcy: Facts Vs. Fiction

          Bankruptcy: Facts Vs. Fiction

          Call: 888-297-6203

          Bankruptcy has earned a bad name among the general population. People often want to avoid someone who has filed for bankruptcy. However, it will be astonishing to know that bankruptcy is more common than you would like to think or admit. In fact, bankruptcy is one of the best ways to get rid of a huge amount of debts and wipe your financial slate clean. According to Dallas based bankruptcy law firm Recovery Law Group, people fear bankruptcy because of the various myths surrounding it. Sifting fact from fiction is important so that people are aware of the benefits of bankruptcy. Some of the most common myths associated with bankruptcy include:

          The prior credit report can affect bankruptcy

          Nothing can be far from the truth. No matter how good or bad your credit history was prior to filing for bankruptcy, it has absolutely no effect on your credit after bankruptcy. When you file for bankruptcy, it is mentioned on your credit report, irrespective of your past credit information. Depending on the chapter of bankruptcy you file under, bankruptcy can appear for a period of 7-10 years. Unlike previous credit information, this is going to affect your credit rating in the future.

          Bankruptcy causes irreparable damage to your credit rating

          Yes, mention of bankruptcy can harm your credit rating, but just like nothing is permanent in life, this is also a temporary setback. You can start making efforts for rebuilding your credit even before your bankruptcy is discharged. Seeking professional assistance from financial counselors can go a long way for rebuilding credit. You can start by living within means, avoiding unnecessary expenditure and paying bills on time. These methods can help build positive credit to improve your credit rating.

          You won’t be able to secure a credit card after bankruptcy

          People with bankruptcy find it difficult to get credit at a reasonable rate, however, they can get secured credit cards which make things easier for them. Other options available include getting a credit builder loan which involves paying a deposit as collateral against the loan.

          Before falling prey to rumors, it is important to find out the truth about the various debt relief options including bankruptcy. After weighing the pros and cons of each option, you should decide which would be the best way to get rid of debts. In case you wish to seek assistance from experienced bankruptcy lawyers Dallas , you can call 888-297-6023.

        • What to do in Case You Have an Incorrect Address on Your Credit Report?

          What to do in Case You Have an Incorrect Address on Your Credit Report?

          Call: 888-297-6203

          Being in debt can send anyone in a tizzy. You might not be aware of how many documents you are required to fill and submit in order to file for bankruptcy. When you file for bankruptcy, you are expected to list all your creditors along with the debts you owe them. Sometimes, a mistake can cause the entry of an incorrect address which then appears on your credit report. This can be really frustrating for the bankruptcy filer since they are already under tremendous stress. However, experienced lawyers such as those of Los Angeles based bankruptcy law firm Recovery Law Group, inform that with some simple mistakes can be easily rectified.

          • Any address associated with an account makes an appearance on your credit report. This may be the address of a friend, attorney, or family
          • The addresses are reported to the credit bureaus by your creditors. You can discuss the incorrect address entry with the respective creditor associated with the account.
          • In case you are unsure of which creditor made the incorrect address entry, you can call the number on your credit report to speak with the representative of the credit bureau.
          • Once the creditor rectifies the mistake, the correct address is entered in the credit bureau system and subsequently in the credit report.

          Though, these steps may seem simple, getting things done is not this easy. if you need professional assistance, you can call 888-297-6023 to speak with experienced bankruptcy lawyers Los Angeles.


            *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.

          • Declared Bankruptcy but Mortgage Loan not Reported? Here’s What You Can Do

            Declared Bankruptcy but Mortgage Loan not Reported? Here’s What You Can Do

            Call: 888-297-6203

            Buying a house is a big commitment, especially if you have just come out of bankruptcy. Your credit score is negatively affected when you declare bankruptcy that can make it difficult to get any new credit, especially one like a mortgage. Most people who opt for Chapter 13 bankruptcy get a chance to catch up on their past due payments through the repayment plan. Other options regarding mortgage are to reaffirm the debt in order to retain your house. Once you reaffirm the debt after filing for bankruptcy, the debt is not mentioned in your credit history, says lawyers of Dallas based bankruptcy law firm Recovery Law Group.

            The worst nightmare for people out of bankruptcy is when their existing mortgage, for which they were paying for the past many years, is not reported to credit bureaus. Without this information on their credit report, their efforts of making payment in good faith are not reported and thus no improvement can be seen in their credit rating. The lender is supposed to report the information to any of the three credit reporting bureaus (Experian, Equifax or Transunion). However, as per the Fair Credit Reporting Act (FCRA), it is not compulsory. They can choose to report to all three, any two/one or none. Since this is the lender’s responsibility, you could ask your lender to report the account legally and accurately.

            An adept lawyer can ensure that there are no loose ends when you opt to file for bankruptcy. For consulting with experienced bankruptcy lawyers, 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.

            • Can Adding a Person Who Has Filed for Bankruptcy as an Authorized User to Your Credit Card Affect Your Credit Scores?

              Can Adding a Person Who Has Filed for Bankruptcy as an Authorized User to Your Credit Card Affect Your Credit Scores?

              Call: 888-297-6203

              Nothing affects your credit score as a bankruptcy. People who have been through bankruptcy procedure will vouch that rebuilding credit can take a lot of time. One of the ways you can improve your credit score is by asking a family member or a friend to add you as an authorized user on their credit card. This will be beneficial for a fresh out of bankruptcy person. However, it is a point of concern for the individual who adds a bankrupt person to their credit card. Many people have their doubts about having a bankrupt person as an authorized user on their credit card. Can this action affect their credit scores negatively too?

              As per lawyers of Dallas based bankruptcy law firm Recovery Law Group, adding any person as an authorized user to your account will not affect your credit report. Their bankruptcy is in no way related to your credit history. Credit history of both; the authorized user and the card owner are separate and includes accounts and public records mentioned in their respective names. Both, the bankruptcy public records and the previous credit history of authorized user will not be merged with your credit history. However, this account might be added to the authorized user’s credit report as they have become associated with this debt too.

              Adding someone as an authorized user to your credit card is a risky decision. Since you are the primary cardholder, any charges made by the authorized user are your responsibility too; especially if the authorized user fails to make payment for them. In case, you are unable to make payments on time due to additional charges, this will end up affecting your credit scores. Before agreeing to become a good Samaritan to help a friend or family member out, it is important to know the possible issues you might have to face. Consulting with expert bankruptcy lawyers at 888-297-6023 can give you numerous 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.

              • Marriage and Bankruptcy: What Happens If A Person with Great Credit Marries Another Who is Fresh Out of Bankruptcy?

                Marriage and Bankruptcy: What Happens If A Person with Great Credit Marries Another Who is Fresh Out of Bankruptcy?

                Call: 888-297-6203

                Marriage is a big decision, something which should be taken after much deliberation. Since money is often the bone of contention in most marriages which might result in divorce, having money matters sorted prior to getting married is an excellent decision. Unforeseen circumstances can send anyone in financial distress. People who decide to get married to someone who is fresh out of bankruptcy, are often worried about the effect of this decision on their finances.

                According to Los Angeles based bankruptcy law firm Recovery Law Group, marriage is not going to join the individuals’ credit automatically. If both have their individual accounts without any joint account, they won’t have any shared credit history. Keeping credit histories separate for long after the marriage is, however, a difficult task to accomplish. For any big purchase like a house, you are required to apply jointly so that both names are on the mortgage. In this case, the income as well as credit history of both parties, are considered for evaluating the risk associated on the loan.

                If one of the partners has a bankruptcy on their credit report, getting new credit, such as that for a mortgage might be slightly difficult. Bankruptcy remains on credit report for a duration of 10 years in case of Chapter 7 bankruptcy and 7 years in case of Chapter 13 bankruptcy Los Angeles. Unforeseen circumstances leading to bankruptcy are manageable but overspending and money management issues will likely wreak havoc in your marriage.

                Sharing credit reports and being aware of the financial situation of both you and your partner provides you with an opportunity to manage the finances. Discussing things before marriage is advised as you can avoid several problems later. Professional assistance can be taken from bankruptcy lawyers by calling 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 is The Credit Score Updated After Bankruptcy?

                  When is The Credit Score Updated After Bankruptcy?

                  Call: 888-297-6203

                  Nothing is permanent in life. Not even the ill-effects of bankruptcy. Though it becomes public record and negatively affects the credit score of an individual, bankruptcy is removed after seven to ten years from the credit report of the filer. However, it takes time to change your credit score. Many people are worried if their credit score does not show any improvement even after bankruptcy is removed. According to the Los Angeles based bankruptcy law firm Recovery Law Group, there are different ways of calculating credit scores. Different lenders have different strategies to check risk management requirements.

                  Unless changes are made in your credit report, credit scores are not updated. Moreover, different lenders use more than one scoring model depending on the type of lending as well as their customers. The system used to calculate credit score by a credit union is different from that used by a national credit card company. This difference is because they have different clienteles and lending methods. Removal of bankruptcy is reflected in the credit score when a new copy of credit report is generated after the new score is calculated.

                  There is not going to be much change in your credit history just after bankruptcy is removed. Sometimes, negative items in credit history might cause no improvement in your credit score. You can get a free copy of your credit report to ascertain whether bankruptcy has been removed from it or not. It is important to have the latest credit report if you wish to seek any new credits. Changes in risk level should be reflected in your credit score and credit report. If you need the assistance of experienced bankruptcy lawyers, 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.

                  • Can Public Bankruptcy Records Lead to Denying of Credit?

                    Can Public Bankruptcy Records Lead to Denying of Credit?

                    Call: 888-297-6203

                    Many times, people who have just got their bankruptcy discharged face the problem of rejection from creditors, even for small loans. This can be quite frustrating for people who wish to start their life afresh. One of the major reasons for credit being rejected is the mention of bankruptcy on credit history. Since bankruptcy is public record and stays on the credit report for seven years in case of Chapter 13 bankruptcy and ten years in case of Chapter 7 bankruptcy, people fresh out of bankruptcy can be in for a long duration of living without credit.
                    According to Dallas based bankruptcy law firm Recovery Law Group lawyers, getting a bankruptcy discharge means that you have gone through all bankruptcy requirements. However, it does not necessarily mean that you have paid all your debts. This causes most creditors to be vary of lending any money to you. It is no wonder that getting new credit just months after bankruptcy is extremely difficult and people often face dejection. If some people get credit, it is at exceptionally high interest, making it a bad decision, especially for people fresh out of bankruptcy.
                    Being rejected for credit can cause extreme frustration in people; however, applying many times within a short period can add to your woes. It is advisable to let some time pass after bankruptcy before applying for credit. This improves your chances, especially if you keep building your credit using a secured credit card or any open positive credit account. Eventually, the positive credit building helps you get a loan after bankruptcy. For knowing more about bankruptcy discharge and getting credit after bankruptcy, 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.