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  • Know the Difference Between Chapter 7 and Chapter 13 Bankruptcy

    Know the Difference Between Chapter 7 and Chapter 13 Bankruptcy

    Call: 888-297-6203

    Individual debtors can file for bankruptcy under Chapter 13 or Chapter 7. In the case of chapter 13, you are required to repay some part of your loan over a period of 3 to 5 years through a court-approved plan. Since some portion of the debt is paid, lawyers of Los Angeles based bankruptcy law firm Recovery Law Group inform that the credit report shows this bankruptcy for only seven years.

    On the other hand, under Chapter 7, you don’t repay any debt and thus, the bankruptcy remains on the public record and your credit report for 10 years from the date of filing. Bankruptcy can have a negative effect on your credit report as well as credit history. To help get back on track, you need to take of professional assistance from credit counselors as well as experienced lawyers. It is important to keep paying monthly bills on time to ensure that your credit history improves steadily.

    Just as Rome was not built in a day, rebuilding your credit will also take time. Managing your finances, making payments on time and staying away from unnecessary expenditure will yield positive results in the long run. To consult expert attorneys, you can contact 888-297-6023.


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    • What is Bankruptcy?

      What is Bankruptcy?

      Call: 888-297-6203

      It is not uncommon to find people struggling with finances. You will find several People struggling with debt every year in the U.S. Bankruptcy has emerged as a popular way to get rid of a huge amount of debts. Consumers can file for bankruptcy under Chapter 7 or Chapter 13 and these are reflected in the consumer’s credit report. According to Dallas based bankruptcy law firm Recovery Law Group in Chapter 13, you end up repaying a portion of your debt as per a court-approved repayment plan over a course of 3-5 years. Due to this, the bankruptcy information remains on your credit report for seven years from the date of filing. In the case of Chapter 7 or liquidation bankruptcy, your entire debts are forgiven. Since no debt is paid to the creditors, this type of bankruptcy remains on the credit report for 10 years from the date of filing.

      Though bankruptcy can affect your credit report negatively and can have detrimental effects on your credit history as well as your credit score, it can also provide you with a reality check and a fresh start. People who have already been having bad credit get a chance to make amends and start afresh. If you wish to know more about bankruptcy and your other options, contact expert bankruptcy 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.

      • Everything You Wanted to Know About Bankruptcy

        Everything You Wanted to Know About Bankruptcy

        Every now and then, individual and businesses go overboard with their expenditure. This might result in them going under. Bankruptcy is a legal way to get rid of the entire amount or some portions of the debt. However, there are long term effects of filing for bankruptcy, the major being, bankruptcy remains on your credit report for 7 to 10 years depending on which chapter you filed under. This may adversely affect your ability to get a loan at a favorable rate, open credit card accounts, etc.

        Since bankruptcy is a complex process involving lots of paperwork, it is advised to seek guidance from experts like the Dallas based bankruptcy law firm Recovery Law Group. It is also mandatory for an individual to complete a credit counseling course from a government-approved counselor in order to create a budget for monthly expenses. Individuals can file for bankruptcy under either Chapter 7 or Chapter 13. Both chapters can help in getting rid of unsecured debts, as well as stop all kind of collection actions including foreclosure and wage garnishment.

        Chapter 7 Bankruptcy

        This is also known as liquidation bankruptcy. A bankruptcy trustee supervises the sale of non-exempt property to pay off your creditors. Any debt which remains is discharged. Certain debts like alimony and child support, student loan and certain government taxes are not eliminated even after bankruptcy. Filing for Chapter 7 has consequences; you end up losing some of your property, your bankruptcy is reflected in your credit score for 10 years. Additionally, if you end up in a financial mess again, you will not be able to file under this chapter for 8 years.

        Chapter 13 Bankruptcy

        In this case, you can keep your assets by paying for them along with repaying your debts through a court-approved repayment plan over a period of 3 to 5 years. After the duration, any remaining debts are discharged, even if only part payment is done on them. This bankruptcy allows you to keep your assets while repaying some debt. Moreover, this bankruptcy is reflected in your credit report for 7 years only and you can file for bankruptcy under the same chapter after 2 years of discharge.

        Common bankruptcy terms

        Some common bankruptcy terms people come across during their discussion with lawyers are –

        • Bankruptcy trustee: A person/corporation appointed by the court to review the petition, assess the property, oversee the sale of assets and disburse the proceeds among creditors in case of Chapter 7 bankruptcy. In a Chapter 13 case, they also oversee the repayment plan, receive money from debtor and pay it to the creditors.
        • Bankruptcy discharge: Completion of bankruptcy proceedings results in discharge. In Chapter 7 this takes place when assets are sold and creditors are paid, in Chapter 13, after completion of the repayment
        • Credit counseling: A compulsory course of action prior to filing for bankruptcy. You are required to complete a personal financial management course through government-approved credit counseling agency before bankruptcy discharge. This can be waived off under special circumstances.
        • Exempt property: State and the federal government allow bankruptcy filer to keep some property. this cannot be sold to repay creditors. Generally, some equity in the home, vehicle, work tools, household items, etc. is exempted.
        • Lien: Legal action which allows the creditor to hold or sell debtor’s real estate for security or debt repayment.
        • Liquidation: Selling of non-exempt property of the debtor in order to generate cash to pay off the creditors.
        • Means test: A test used to determine the ability of a bankruptcy filer to repay their debts. This considers the filer’s assets, income, expenses, and Failure to pass means test disqualifies them from filing under Chapter 7. Individuals can then file for Chapter 13 bankruptcy Dallas.

        What happens after a bankruptcy discharge?

        People might end up losing some property when they file for bankruptcy. It also has long term effects on your credit report. Depending on the chapter of bankruptcy, bankruptcy remains on credit report for 7-10 years. You might face difficulty in getting a loan, or if offered it might be at a higher rate of interest. In case your loan was co-signed by your spouse or parents, they might also face some problems if you file for bankruptcy. Getting a mortgage becomes difficult for bankruptcy filers. They need to give a larger down payment, get a mortgage at the higher interest rate. Reaffirming current mortgage is a better alternative.

        It is important to have credit information updated on your credit report if you wish to avail credit at favorable terms. This can be done by rebuilding credit, paying bills on time, living within budget, etc. it is important to consider bankruptcy alternatives like debt consolidation, debt settlement, etc. prior to filing. To know more about bankruptcy options, contact 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.

        • Get Your Credit Report Updated to Show Bankruptcy Discharge

          Get Your Credit Report Updated to Show Bankruptcy Discharge

          Since bankruptcy filing is public information, people can have access to it. This is a major point of concern for bankruptcy filers as it hampers their chance of getting a loan or even a decent job. Though the information is entered in your credit report, any discharge granted for the bankruptcy should also be mentioned on the credit report. Many times as per the Los Angeles based bankruptcy law firm Recovery Law Group lawyers, the information is not updated on credit reports. This is a cause of worry for people who wish to start their life afresh but can’t. since bankruptcy is quite emotionally draining, people often are confused as to what should be done to get their credit reports updated. Here are some basic facts that can help you sort out things.

          • Bankruptcy becomes public record and is displayed in the credit report.
          • All accounts included in the bankruptcy should indicate the status discharged once you have completed your bankruptcy chapter.
          • You can verify the same by getting a copy of your credit report from the official website.
          • In case your bankruptcy discharge information is not reflected in your credit report, immediate action must be taken to get the same updated. This can be done by sending a copy of your bankruptcy Schedule A, Schedule D or Schedule F which lists all the debts included in a bankruptcy, a copy of the documentation for proof that bankruptcy has been discharged as well as the statement to update bankruptcy information. The information can be uploaded online or sent via mail at the address mentioned on the credit report.
          • The courts can also be contacted to verify the bankruptcy discharge.

          However, it is important to know that the discharge date will not affect when the bankruptcy information is deleted from the credit report. Bankruptcy is mentioned on your credit report for a specified period, which is seven years in the case of Chapter 13 and ten years in case of Chapter 7 bankruptcy Los Angeles. The accounts which were included in bankruptcy are also displayed along with their status. These accounts are deleted 7 years from the original delinquency date, which is generally prior to bankruptcy public records. For further information regarding bankruptcy, you can call at 888-297-6023 to speak 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.

          • Need to Update Your Bankruptcy Information? Here’s What You Should Do

            Need to Update Your Bankruptcy Information? Here’s What You Should Do

            Bankruptcy involves a lot of paperwork, both while filing for it and even after discharge. It is therefore important to have legal representation to get through with it smoothly. In case you are looking for legal representation, you can call 888-297-6023 to know more about bankruptcy and its discharge. Generally, post-bankruptcy discharge, creditors update information in their accounts which are eventually displayed on the credit reports. However, many times creditors don’t update the information. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, there are options available for individuals if their creditors haven’t updated the bankruptcy discharge information on the credit report.

            Since bankruptcy becomes a public record, the accounts listed in your bankruptcy are reflected in your credit report. In the case of the bankruptcy discharge, the same should be reflected in your credit report as well as bankruptcy record. Filing for bankruptcy involves mentioning all your creditors. Once the knowledge of your bankruptcy is provided to your creditors, they should ensure that the account is updated on the credit report to reflect its status. After you get your bankruptcy discharged, the accounts should also display the updated status. In case it does not, you can contact the creditor through the information provided on your credit report to ask them to update the accounts as discharged.

            Bankruptcy paperwork includes “Schedule” which lists all debts included in the bankruptcy filing. You can alternately send a copy of Schedule A, Schedule D or Schedule F to the address listed in credit report along with a copy of your bankruptcy discharge statement and a request to update the information in your credit report. Alternately, you can verify the information through the courts and update it online. Individuals can file for bankruptcy under Chapter 7 or Chapter 13. In the case of the former, no debts are repaid, and discharge is granted within a few months. This type of bankruptcy remains on credit report for 10 years from the filing date. Chapter 13 on the other hand, involves paying some portion of the debt over a course of 3-5 years. This bankruptcy remains on the credit report for a duration of 7 years from filing date.


              *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.

            • While Filing for Bankruptcy Avoid Making These Mistakes

              While Filing for Bankruptcy Avoid Making These Mistakes

              Bankruptcy can change the way you live. However, if you want it to not affect your life negatively, it is important to know what to avoid prior to filing for bankruptcy. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, many people skirt around bankruptcy laws in order to protect their assets. It is important to understand that the bankruptcy court does not approve of certain tactics, usage of which might result in the dismissal of your bankruptcy petition or filing of criminal charges against you. the latter might cost you dearly, not just in terms of finances but also a time in jail. These are some of the common mistakes you should avoid prior to bankruptcy filing –

              • Hiding your assets

              While filing for bankruptcy, you are expected to declare your income as well as your assets to find out your ability to pay off your creditors. Chapter 7 bankruptcy requires you to pass a means test in which your monthly income should be less than the state median for a household of similar number of members. Since Chapter 7 results in the discharge of all debts, people often hide their assets in order to qualify for it. If bankruptcy trustee discovers you are lying about your assets, this could result in dismissal of your case, or you might be banned from filing for those debts again. Similarly, hiding creditors won’t help you either.

              • Not hiring a lawyer

              Bankruptcy laws are quite complex. trying to handle your bankruptcy case on your might not be the best thing to do. You might end up missing one of the final details which might be the difference between getting your bankruptcy discharged or getting your case dismissed. Attorneys are aware of the various ways in which you can protect your assets. They can also you help you choose the best chapter to file bankruptcy under. Moreover, they can make you aware that certain debts are not discharged even after bankruptcy, such as child support, income tax debt, student loan, etc. It is therefore advisable to contact expert bankruptcy lawyers at 888-297-6023 to get rid of debts.

              • Transferring property to family or friends

              Giving assets to family or friends in order to protect them from becoming a part of your bankruptcy estate, can have repercussions on your bankruptcy case. In case you have sold it at less than the market rate, the deal can be turned over by the bankruptcy trustee.

              • Running up huge credit

              If you run the risk of accumulating a huge amount of debt on credit cards just before filing for bankruptcy, it is construed as fraud. The creditor can challenge the discharge of debts if they believe you were trying to cheat them. This will result in the debts remaining even after your bankruptcy ends. Any credit card purchase made 90 days prior to filing for bankruptcy is not included in the debts. You might have to end up paying those creditors and could also be accused of fraud. Similarly, avoid taking on new debt of you are contemplating to file for bankruptcy.

              • Raiding your pension funds

              Most people do not realize that their pension funds are protected from creditors through exemptions. Using money from those accounts to pay your creditor is a bad move, especially since you are using protected money to pay off debts which might be discharged during bankruptcy. Additionally, paying one creditor while ignoring others is not advisable. Pension accounts like 401(k), IRAs, etc. are exempted and cannot be touched by even bankruptcy trustee.


                *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 Can Bankruptcy Help You?

                How Can Bankruptcy Help You?

                Nobody in their right senses would like to go overboard on their expenses. Everyone knows the detrimental effect of going under debt. However, unfortunate circumstances can lead anyone to the brink of bankruptcy. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group inform that bankruptcy is probably one of the best legal ways to get rid of a huge amount of debts. Many people are doubtful about how bankruptcy can help you. Here are a few reasons how bankruptcy can be the best decision you can take:

                1. Control snowballing effect

                People who are trying to make ends meet often have one or the other bill pending. Trying to pay one, will often result in a late fee addition on some other bill. All this results in a huge debt eventually. If you are being constantly harassed by creditors and are on the verge of losing your assets to foreclosure or repossession, then filing for bankruptcy can be one of the best options for you. filing for bankruptcy puts an automatic stay in place which prevents collection actions of any kind and provides you with ample time to sort out your finances.

                1. Relieves the burden of debt

                Being under debt can lead you to live in great stress, with no way out of the continuous rise of debts. Filing for bankruptcy gives you an option to get rid of your debts while taking charge of your finances. Depending on the chapter of bankruptcy you file, you can either get rid of your debts or repay some portion of them while getting rid of the remaining. In a nutshell, bankruptcy can relieve the stress of debts off your shoulders and allow you to breathe freely.

                1. Improves your financial future

                Many people hold back on pursuing their dreams because it will add another financial burden on their debt-laden shoulders. However, filing for bankruptcy can help you get rid of unsecured nonpriority debts like credit card bills, medical bills and personal loan. It also gives you a clean financial slate to start building your credit from scratch. Though bankruptcy is reflected in your credit history, it also offers you a chance to improve your credit rating by getting rid of huge amounts of debts, which would otherwise have pulled you down.

                In case you are struggling to manage your finances and wish to get out of the vicious cycle of debt, call 888-297-6023 to consult with experienced bankruptcy lawyers regarding the best way to get rid of your debts.


                  *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 Protect You and Your Property?

                  Can Bankruptcy Protect You and Your Property?

                  Bankruptcy is a legal way to get rid of your debts. You can get rid of a huge amount of unsecured debts while protecting your exempted assets from going under the hammer. When you file for bankruptcy, Los Angeles based bankruptcy law firm Recovery Law Group lawyers enlighten that any collection action including foreclosure, wage garnishment or bank levies are put to an end. You have access to your financial accounts and with the bankruptcy petition, any wage garnishment done 90 days prior to filing can be returned and taxes levied, refunded.

                  Another advantage of filing for bankruptcy is protecting your home against foreclosure. When you have a financial crunch, making payments on a mortgage can become difficult. In case, you have fallen behind on your mortgages, there is a possibility of the creditor foreclosing on your home. However, bankruptcy filing puts an end to the worry of foreclosure too. In fact, bankruptcy is the best tool to save your home. Chapter 13 also offers you a chance to catch up on past arrearage through the repayment plan. Unless a sheriff sale has taken place, bankruptcy can be the best tool to prevent your home from being taken from you.

                  Both federal and state government allow certain exemptions in personal property of the bankruptcy petitioner. When you file for bankruptcy, you can effectively save a lot of your assets while getting rid of several unsecured debts. Various exemptions available include automobile, homestead, household items, retirement plans, insurance, tools of trade, etc. In case you wish to protect your property while getting rid of your huge debts, filing for bankruptcy is the best option. Call 888-297-6023 to consult with expert bankruptcy lawyers regarding the protection of your assets while getting rid of your debts.


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

                    *Do you own a home?

                    Are you currently working?

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

                  • Should You File For Bankruptcy Without a Lawyer

                    Should You File For Bankruptcy Without a Lawyer

                    A person who is struggling with financial issues often wants to save as much money as possible. Even if that means filing for bankruptcy without a lawyer. Unfortunately, filing for bankruptcy is more than just filling a few forms and filing them in the court. Though people can file for bankruptcy without a lawyer (pro se), it is generally not advisable. Data available for bankruptcy discharge with and without a lawyer will justify why it is advised to hire a lawyer when filing for bankruptcy. As per statistics available, only 0.4% of pro se Chapter 13 bankruptcy filers got their plans confirmed in California.

                    Lawyers of Dallas based bankruptcy law firm Recovery Law Group inform that it is next to impossible to get your reorganization plan confirmed in case of Chapter 11 or Chapter 13 bankruptcy cases without the expert advice of a lawyer. This is so because the rules are complex and difficult to understand for a layman and therefore people often have little chance of getting through with confirmation hearing, let alone discharge. If you wish to successfully get a confirmation hearing and eventually bankruptcy discharge, you need to consult expert bankruptcy lawyers at 888-297-6023.

                    In the case of Chapter 7 bankruptcy cases, 40% of pro se filing was dismissed compared to 5.4% in the case of attorney represented cases. Since most filers expect financial relief from a bankruptcy filing, this comes as a huge shock. No discharge means no relief from creditors and bad credit report apart from retrying their luck in bankruptcy court. The odds of getting discharge with pro se filing is merely 36%. While having a bankruptcy lawyer to handle your case means that you do not have to worry about all the paperwork, people filing for bankruptcy pro se need to be aware of not just the various forms but also the rules of bankruptcy procedure apart from previous rulings in the Circuit, District and Supreme Court.

                    Through Bankruptcy Petition Preparers are present, they cannot dispense any legal advice. Their only function is to enter the information provided by you into forms. You must find out about the various exemptions, and which will suit you best, which chapter to file bankruptcy under, etc. Even the Official U.S. Bankruptcy Court insists on hiring a qualified attorney to handle the bankruptcy proceedings. Since the clerk’s at bankruptcy office cannot give you any legal advice, you need to hire attorneys to:

                    • Explain the various provisions of the law,
                    • Interpret case rulings and statutes,
                    • Help you complete the bankruptcy forms,
                    • Advise you with respect to the best procedure to achieve your goal, etc.

                    Any individual who opts for pro se filing is expected to know and abide by all the rules and aware of bankruptcy laws. This includes filing all written papers, being aware of the deadline for filings, serving papers to your creditors, wearing proper clothes in court, being ready to discuss the matter in court, etc. If even after your best efforts your case is not confirmed or discharge not granted, you end up wasting crucial time and money in filing fees. Even the automatic stay benefit is reduced, and you may end up losing your home, car, and money, apart from having a failed bankruptcy on your credit report. However, having a lawyer can save you crucial time and get you bankruptcy discharge thereby proving that money spent on hiring an efficient bankruptcy lawyer was a good investment.


                      *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 is the Difference Between Default and Bankruptcy?

                      What is the Difference Between Default and Bankruptcy?

                      Default means not being able to fulfill an obligation, especially the monetary kind. When a person defaults on a credit account, it means they have been unable to repay as per their agreement. According to Dallas based bankruptcy law firm Recovery Law Group defaulting on a payment is usually the first step towards bankruptcy. This is so because unfortunately, defaulting adds up the interest as well as penalty on the already existing amount. Generally, people have a minimum of 2-3 credit cards. Simultaneous use of them results in a huge amount which needs to be paid every month to avoid it piling up. Defaulting causes people to struggle with their finances and from there, it is a slippery road towards bankruptcy.

                      Bankruptcy is not only quite dramatic but also has negative implications on your credit report. Finding credit after filing for bankruptcy or getting discharge is quite tough. To know about your options regarding bankruptcy, call 888-297-6023 to consult with the best bankruptcy attorneys.


                        *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.