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Category: Bankruptcy

  • What is Corporate Bankruptcy?

    What is Corporate Bankruptcy?

    The Security and Exchange Commission may emphasize a lot about the principles of Corporate Bankruptcy for the benefit of the people in the states of California and Texas. A company or firm will be out of business completely if it files for Chapter 7 bankruptcy. In this scenario, the investors of this company will also lose their money. The only parties who can get some value could be the people who hold bonds with such companies. But it solely depends on the priority of the corporate companies’ debts and the value of assets that is available for the purpose of liquidation.

    How a company faces the situation of bankruptcy?

    When the company falls into a condition where it is unable to repay its debts, then it files for Chapter 7 bankruptcy. In this condition, the business enters into the condition of liquidating all of its assets in order to pay back the company’s creditors. This action is carried out under the supervision of a bankruptcy trustee who is appointed by the federal court. The cash that is obtained from the liquidating of asset is used to pay the administrative fees and the legal fees in addition to paying the corporation’s creditors. The collateral held by secured creditors are returned to the corporation else, they get grouped along with other unsecured creditors. The amount generated is shared amongst this group.

    If the filing is of Chapter 7 type, the stockholders of the corporation rarely get notified about the bankruptcy filing. This is because the creditors claim in full whatever is their due and there could be nothing left to be divided by the stockholders.

    Recommended Chapter for Corporate Bankruptcy

    Businesses are often looking for options to reorganize their debts and also find themselves in a better financial position of profitability whilst they face a bankruptcy situation. For such corporations, Chapter 11 is recommended. In this type, though the court holds control of major executive decisions for the corporation that has filed bankruptcy, the management of the company will still be able to run their daily business as normal.

    Contacting a legal counsel is the recommended way for businessmen tackling similar scenarios as discussed above. Recovery Law Group, operating in Dallas, Texas and Los Angeles, California, will assist you to explore the viable options in your crisis situations. They work towards the appropriate recommendation for your business and will execute them according to your long term objectives. Call Recovery Law Group at 888-297-6203 to know more about their services!


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    • What Effect does California State Court Judgement have on a Debt during Bankruptcy Discharge?

      What Effect does California State Court Judgement have on a Debt during Bankruptcy Discharge?

      Bankruptcy is one of the preferred ways to get your spiraling debts discharged so that you get a clean slate to start your life afresh. Though usually court rulings or judgment are not enough on their own to make a debt not dischargeable, yet sometimes they may make it difficult or impossible in rare cases too. Though a majority of the debts accumulated by a person get discharged during bankruptcy, it is important to note that certain debts cannot be legally written off. Those debts which cannot be discharged are categorized as:

      1. Non-Dischargeable- The creditor doesn’t object to the discharge of these debts. Some examples of these debts include spousal and child support, income tax, criminal fines, and
      2. This category includes debts that are potentially non-dischargeable since the creditor can object to their discharge. Timely objection by the creditor can result in non-discharging of the debts. To interrupt the discharging of these debts, you need to file charges for bad behavior against the debtor. Few examples of such debts include those due to misrepresentation or fraud (bounced cheques) or causing willful injury to a person or property (physical assault)

      How to lay the foundation for non-discharge of debts in bankruptcy?

      It is extremely important for a creditor to prove all required allegations for the establishment of bad behavior to get not dischargeable debts. According to Section 523(a)(2) of Bankruptcy Code, Los Angeles bankruptcy lawyers Recovery Law Group suggests, to prove that a particular debt was obtained by fraud – a creditor needs to attest that the debtor made a demonstration which he/she knew to be false at that particular time; that such demonstration was made with a malicious intent (of deceiving the creditor) and the creditor fell prey to the said demonstration and incurred heavy damage due to the same.

      All of these points need to be proved during the trial in bankruptcy court. However, if the same was previously done in a state court lawsuit, with a judgment obtained against the debtor, the job will be very easy for the creditor. If a state court judgment is entered against the debtor, the chances of getting the debt discharge may diminish.

      Can debts be discharged even after unfavorable judgment?

      Just because a debt has turned into a judgment is no way to guarantee whether they will be discharged or not. If a particular debt can be discharged before the entry of judgment, then it can be done after judgment too. Bankruptcy discharge can be effectively used to not just wipe out the debt but also the judgment. Sometimes a judgment can turn into a lien on your real estate and other properties. When the creditor registers a lien against your home or other property, options are available to get rid of the lien. However, if a judgment has changed into a judgment lien attached to your property, things can get a bit tricky.

      As per Section 524 of Bankruptcy Code, if a creditor does not wish the debtor’s debts to be discharged or the judgment voided, they should timely object to discharging of debts. To object to the debts, the creditor must have timely information of the filing of the bankruptcy case by the debtor and file his concerns within the specific short timeframe. Consult with expert bankruptcy attorneys at 888-297-6023 to send appropriate notice to the creditors and find out the timeframe of creditors deadline in your particular case.

      In case the creditor objects to the debt discharge within the stipulated time frame, the language of the judgment plays an important role. The judgment can simply state the amount of money owed in debt by the debtor or the judgment might specify any fraud, misrepresentation or any wilful and malicious injury actions of the debtor which caused him/ her to incur the debts and subsequent judgment.

      What effect can the language of judgment have?

      Words and language can make a huge difference, especially in legal documents. State court judgment’s specific language is extremely important as the bankruptcy court uses this to decide the bankruptcy discharge. If the language specifies only the fact that debtor owes money to creditors, the debt has a chance of getting discharged during bankruptcy. If however, any fraudulent activity or any type of bad behavior is specified in the state court judgment, this fact is taken into consideration by the bankruptcy court to decide their verdict.

      Res judicata or collateral estoppel is an important and an ancient principle through which courts take each other’s decision into account while giving the verdict. In case one court has reached a verdict, it is accepted by another court, provided a specific number of conditions are met.

      The factor that keeps this time-honored law principle in place is:

      • It protects petitioners from any harassment due to similar repeated litigations.
      • It helps avoid any varying judgments of the same problem with different solutions, as this can imbibe low esteem for the legal system.
      • It also saves time by avoiding repetitive lawsuits.
      • A lot of time as well as resources, both of the court and the filing parties, are saved since a matter previously resolved in courts is not re-tried in another.

      Despite federal courts being superior to state courts, they too generally accept state court judgments, thanks to Article IV, Section 1 clause of the U.S. Constitution’s which states “full faith and credit”. However, there are some cases where federal law overstates the state law; but states have the right to decide when a particular judgment from one court is binding on another. California law specifies which state court judgments will be accepted by bankruptcy courts.

      According to the Supreme Court of California, for a case to be excluded from re-litigation, it must be exactly similar to one decided in previous proceedings. The issue in concern must actually have been tried in a former proceeding. The case must have been certainly decided in the previous proceeding. The decision taken previously must be on merits and final. Lastly, the party against whom prohibition is being asked must be the same as the party in previous proceedings. If the creditor is able to prove that the judgment obtained in a state court satisfies all of the above mentioned five requirements in bankruptcy court, the debts will not be discharged.

      In case the debt is not discharged as the debtor had incurred the same via means of fraud, the creditor needs to prove that the intentions of the debtor were malicious and done with the sole intention of cheating the creditor. If this was the actual issue litigated and decided in state court and a final decision was rendered against the debtor, then the bankruptcy court is bound to agree with the state court’s assessment and decision regarding the fraud element. The principle of collateral estoppel is applied with both discretion and flexibility. As per the U.S. Supreme Court, trial courts including bankruptcy courts should use broad discretion to know when res judicata must be applied.


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

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        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.

      • Preference Challenge – Can a Bankruptcy Trustee Prevent or Defend it?

        Preference Challenge – Can a Bankruptcy Trustee Prevent or Defend it?

        Bankruptcy cases can be simple or complex. Thus it is always advised to hire an expert bankruptcy lawyer to deal with the nuances of the case and get you the benefit of a fresh start. One of the major challenges of a bankruptcy case is having to deal with the trustee’s preference challenge. A majority of the cases, however, do not involve preference problem as they can be easily avoided, defended or circumnavigated. However, it is important to know and understand what bankruptcy trustee’s preferences are so that you and your legal expert are well prepared to handle the problem.

        What is Preference Law?

        Preference law (Section 547) of the U.S. Bankruptcy Code with around 55 subsections is more than 175 years old with numerous revisions done since the time it was introduced. A preference is a preferential payment (monetary or property) which is made to one creditor within a specified time frame before bankruptcy filing as a preference over your other creditors. Under specific conditions, the creditor which benefitted from the payment can be forced to repay the amount paid or return the property over to bankruptcy trustee. Preference payments can easily be undone. In case the creditor you had paid in preference of other creditors is a friend or relative, the results can be detrimental for you.

        To be more specific, preference law is put in force only if a particular creditor is paid within 90 days of the filing of your bankruptcy case. In case the creditor is an insider i.e. family or friend, this period is a full year. Any money paid to a creditor does not necessarily come under preference. To qualify as a preference, it has to meet 5 essential requirements. There are a number of exceptions too. The 5 necessary elements as stated in Section 547(b) of Bankruptcy Code include:

        The trustee can avoid any transfer made by a debtor if:

        • It is to or for the benefit of a creditor
        • It is for an account of previous debt owed by the debtor before the said transfer was made
        • It was made when the debtor was broke
        • It was made –
          • Within 90 days prior to the filing of a bankruptcy petition
          • Between 90 days and 1 year prior to the bankruptcy filing, in case the creditor was an insider
        • If the creditor received more than what they would have if –
          • The bankruptcy case was a chapter 7 case
          • The transfer was not made
          • The creditor got payments of such debt to limits provided by provisions specified by law

        Can preference be avoided?

        Despite what you assume, it is not essential that the pre-petition payment you make is a preferential one. To be sure, you need to consult bankruptcy lawyers such as Dallas based lawyers, Recovery Law Group. It must, however, be kept in mind that the 90 days/1-year deadline is a strict one which needs to be followed. You can easily avoid any problem if you ensure that no such payments are made in the mentioned deadlines while filing for bankruptcy. In case you have made transfers to a creditor within the stipulated time frame, it is advised that you delay the filing of papers till the time has passed.

        Sometimes, the situation is such that you cannot hold off filing for bankruptcy. Foreclosure, wage garnishment, and repossession are some of the threatening creditor actions due to which a debtor might have no option of delaying the filing of bankruptcy papers. In this case, it is important to defend the preference. There are some cases, where you might not require to defend the trustee’s assertion of the preference, like –

        • The preference challenge is not against you but against the creditor who received the payment.
        • According to Subsection 547 (c)(8) and (9), a statutory exception for transfer of amount less than $600 exists in consumer bankruptcy cases. The amount being $6,425 in business bankruptcy cases.
        • Bankruptcy trustees generally don’t pursue consumer cases preference payments which are more than $600, if there are no assets involved. This is due to practical reasons. However, it depends on individual cases and the predisposition of the trustee.
        • Sometimes the creditors at the receiving end of the preference are not worth the effort and cost of trying to take any collection actions against them. This is usually the case when the payment receiving party has little to no income or assets which can be legally pursued by the trustee. Another reason might be that the risk of finding or tracking the person is too huge.

        Since bankruptcy trustee will also be paying lawyers to pursue the case, it is futile to spend money on pursuing preferential amount when the above-mentioned factors are involved.

        Options available if bankruptcy trustee pursues preference

        Sometimes, you might encounter a bankruptcy trustee who is willing to go down the road to pursue preference. In such a case, the debtor needs to prove that the payment made to the creditor (preference amount) within the stipulated time frame (90 days/ 1 year) was later paid back by the creditor. This will stop the trustee from pursuing the amount paid, as the money paid by the creditor will nullify the preferential payment. For this to take place, the creditor (family, friend or unknown) must be willing to pay back the amount you paid in order to avoid giving it to the trustee. The timing of the transaction, as well as your treatment of the amount, is equally important too. This is known as the “new value” defense strategy. To get a better hang of the situation, consult expert bankruptcy attorneys at 888-297-6023.

        Assuming you have made a preferential payment and the bankruptcy trustee assigned to your Chapter 7 case is adamant on reversing it, you need to take some action to prevent it. You cannot let the creditor repay and also cannot create the above mentioned “new value” defense as they don’t have enough money to pay you back. In case, you have the amount to pay back the bankruptcy trustee, you can do so. The trustee can accept the preference amount from you, either in full or in monthly payments. You might also get to pay back less than the actual preference amount as both you and the bankruptcy trustee will be saving on attorney fees and other similar expenses.

        Can Chapter 13 help in preference?

        People filing for personal bankruptcy generally have a choice to choose between Chapter 7 and Chapter 13. However, for the former, you need to pass the means test. In case, you are facing a preference problem, choosing the latter will be more beneficial. This is so because chapter 13 is an excellent way to repay the trustee the due (or reduced) preference amount through the repayment plan. The various advantages associated with it include:

        • Unlike Chapter 7 bankruptcy trustee, a Chapter 13 one will be more open to accepting payments from you since they are already involved in disbursing of payments to creditors through the repayment plan.
        • You do not have to worry about how soon you have to make payments to the trustee.
        • You get more time to repay the preference amount through the Chapter 13 repayment plan.
        • More flexibility is provided while paying preference amount compared to other important debts like a home mortgage, income tax, etc.

        Should you let the trustee pursue the creditor for preference paid?

        The above-mentioned techniques are extremely helpful if you wish to protect the creditor whom you had made payments prior to filing for bankruptcy. If however, there is no such personal obligation to protect the creditor, it is not essential to go through the entire rigmarole. Some situations where you won’t try to interfere with the trustee’s proceedings to collect the preference include –

        • When your relationship with the creditor is not so good, you wouldn’t care if the trustee forces them to cough up the money.
        • Your relationship has deteriorated over the timeframe and you are unaffected by the repayment efforts being made against them.
        • If the creditors can afford to hand over the preference amount to the trustee. You can later voluntarily pay them the preference amount back. The dues are likely to be discharged after bankruptcy.
        • If your relationship with them is excellent due to which they don’t hesitate in paying back the amount to the trustee

        Understanding and mastering the law is not everyone’s cup of tea. It is therefore important that you consult bankruptcy attorneys for your case and are completely honest with them. Answer all questions related to any payments made to anyone and provide them with all necessary details. Since bankruptcy is stressful, you should be careful while answering the question. You might forget to mention about any payments made to friends or relatives as they are not your conventional creditors. Thus you might forget to count the payment thus made as preference. If you don’t alert your lawyer about these transactions, this could backfire. Trust your lawyer to bail you out of any situation. They can protect you from any possible situation if you tell them the truth.


          *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.

        • Possibility of Bankruptcy Relief – Marijuana Businesses?

          Possibility of Bankruptcy Relief – Marijuana Businesses?

          It is widely known that California has expanded its legitimacy to the California Marijuana business. Hence the question pops up whether the Marijuana or other licensed cannabis businesses will enjoy equal/ same rights under federal law as in the case of other California businesses. That’s is the not case and reading through the below will explain in detail the background of these businesses and how they are restricted from declaring bankruptcy in their businesses.

          Cannabis businesses and the California Law

          Since 1996, possession of a small amount of marijuana has been decriminalized. Also, medical marijuana has been legalized from the same year. By making recreational marijuana legal in California, the state has become the largest legal market in the country since last year. The Office of Administrative Law (OAL) in the state of California recently approves of certain regulations with regards to the Cannabis businesses. Even though these laws now make the operation clearer and are able to impart stability to the operating vendors, the cost of operating marijuana businesses has shot up significantly. Hence the California Cannabis businesses face several challenges economically and they include regulations related to packaging, high state and local taxes, supply chain issues and loss of the business due to illegal sellers in the market.

          Because of the aforementioned challenges, the marijuana market is struggling and running a business is turning tougher than expected. Irrespective of being part of the community that grows marijuana, or distribute or have any role to contribute to the Cannabis sector, it is tough to declare bankruptcy due to operating constraints and start afresh.

          Marijuana businesses and the Federal Law

          Possessing or selling marijuana is still a violation under the Federal Law, Controlled Substances Act 21, U.S.C. 801 and this is notwithstanding additional state licenses. So in the eyes of federal law, this is still a crime (if you are in accordance with your California state rules and are operating state-licensed marijuana business). The body of Federal court is yet to pursue these businesses that run with the support of state rules and are still violating their law.

          A memo released in the last year January by Jeff Sessions indicates that there could be a change in this too. But as of now, the marijuana businesses cannot seek bankruptcy relief since they violate the Controlled Substances Act (CSA) and this has been approved by the Office of the United States Trustee (the OUST). In addition, the OUST also takes the position that if anyone who is renting to a seller or a grower of marijuana is also violating the CSA. So take caution, if you are operating cannabis businesses under the state law or if you are renting to the dealers/ suppliers/ growers of marijuana – you cannot seek bankruptcy relief.

          Further to Cannabis related Bankruptcy Restrictions

          As per the Section 843(a)(7) of the CSA, “it is a federal crime to “manufacture” or “distribute” any “equipment, chemical, product or material which may be used to manufacture a controlled substance . . . knowing, intending, or having reasonable cause to believe, that it will be used to manufacture a controlled substance.” This was recently seen in the case of Way to Grow, Inc. who sought bankruptcy relief. The bankruptcy court in Colorado declined their petition even though, they were provisioning horticultural supplies to legalized marijuana businesses – this proved that the filers were also violating the CSA.

          The court dismissed the case of Way to Grow, Inc. quoting that the filers cannot also make any further changes to amend the violations to the CSA as that would have adverse effects on the income that they are generating. This was a unique situation since the filing business was neither a grower/ supplier of marijuana directly nor were they renting the premises where the marijuana businesses ran. They were just merely supplying the equipment, that will help similar customers also grow other crops.

          A different angle – where do the limits stop?

          Another queer angle is seen with the Garvin v. Cook Investments case, where the bankruptcy trustee is not favoring a bankruptcy filing of a landlord who has leased the property to a tenant in the marijuana industry. This is a topic of debate where the power of the OUST and the court is questioned with regards to extending the restrictions of bankruptcy relief to beyond the distributors and sellers in the cannabis industry.

          Working with bankruptcy attorneys from renowned firms such as Recovery Law Group will aid the process of seeking relief. They have the experience of dealing with clients of the varied portfolio in Los Angeles and Dallas.


            *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.

          • Instagram Photos land Rapper 50 Cent to Bankruptcy Court!

            Instagram Photos land Rapper 50 Cent to Bankruptcy Court!

            Rapper 50 Cent got a rude shock when he was called to court for his Instagram photos. Despite filing for bankruptcy under Chapter 11 in summer, he had been posting photographs on Instagram, posing with huge stacks of cash. This raised suspicion and he was ordered to appear in bankruptcy court to explain his actions since bankruptcy is a legal way out for people who have been unfortunate enough to suffer huge irreversible financial losses. Transparency while filing is one of the important points for an individual to get relief. However, with photographs like the one posted by the rapper, 50 Cent’s asset disclosure seemed anything but transparent!

            Tantalizing photos of the rapper lounging on a bed surrounded by bundles of cash; refrigerator filled with money and stacks of $100 bills being used to spell “BROKE” apart from online reports of him buying a swanky new house in Africa were the reasons for him being called to explain his actions in bankruptcy court. Since a person who fails to disclose his assets while filing for bankruptcy can lose more than he intended, it is better, to be honest with your lawyer. In case you are looking for a bankruptcy lawyer in Los Angeles Contact Recovery Law Group at phone number – (888-297-6203).

            In Rapper 50 Cent’s case, the lawyer clarified that the photos, which probably were from an earlier occasion and for promotional purposes (brand image), were used by people who were out to smear his reputation in order to cough out money. A disgruntled women who wanted to collect $7 million from the rapper due to a sex-tape dispute but was unable to, joined hands with a disgruntled partner of a failed headphone deal and 50 Cent’s mortgage lender. The purpose of their association was an attempt to get an independent financial expert to manage 50 Cent’s money till the time he could pay back $30 million to his creditors. Thanks to his expert lawyer, 50 Cent was able to dodge all these allegations. Needless to say, having a good lawyer and a transparent relationship with them can save you from being unceremoniously dragged to court.


              *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.

            • Hire Bankruptcy Lawyers to Defend You against Creditor Action

              Hire Bankruptcy Lawyers to Defend You against Creditor Action

              Filing for bankruptcy is one of the last resort people opt for, though it is the best legal option available to get rid of genuine monetary issues plaguing people. Many times people who have filed for bankruptcy might end up getting sued by the creditors for failure to make payments. In case, you have chosen to file without a lawyer (pro se) you might not be adequately prepared to handle such a scenario.

              In a case concerning Chapter 7 bankruptcy, the debtor prior to filing for bankruptcy had opened a home equity line with a local financial institution. When the news of the filing reached the creditor, the institution filed a lawsuit against the debtor.

              The financial institution (Parkway Bank & Trust) based their lawsuit on the fact that the debtor (Casali) had knowingly sought to misdirect the bank when he decided to ask for relief from the loan. As per the bank, one of the debts should be considered non-dischargeable as per U.S. code 523(a)(2)(A). According to Dallas based law firm Recovery Law Group, the code states that bankruptcy cannot provide respite to the filer from any debt (in form of finance, property, or any other service) obtained due to lies or false depiction. According to the complaint filed by Parkway Bank & Trust, Casali had not accurately provided statements of the financial situation while borrowing money from them.

              Thankfully, expert bankruptcy lawyers by the defendant’s side argued that Parkway Bank & Trust could not provide relevant evidence to prove the charges against their client. Inability to prove without any doubt that Casali had knowingly and with dubious intent hidden the financial condition while obtaining the mortgage loan from Parkway Bank & Trust resulted in relief for the client. The case was reviewed by the bankruptcy court and the client got respite by having the loan discharged under Chapter 7 bankruptcy.

              In case you are going through a tough phase and are looking for bankruptcy as an option to get relief from the huge debts it is important to consult an adept bankruptcy lawyer. Call at 888-297-6023 to talk to expert bankruptcy lawyers to get a better grasp on your financial and legal matters. With an experienced team by your side, any complicated legal matter can be easily resolved.


                *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.

              • Foreclosure, Bankruptcy and Creditor Harassment

                Foreclosure, Bankruptcy and Creditor Harassment

                Who wouldn’t want a guide on how to handle bankruptcies and make wise decisions with their financial struggles? The book, Consumer Defense: A Tactical Guide to Foreclosure, Bankruptcy, and Creditor Harassment: The Luxury of the Informed, is a guide that is greatly welcomed by individuals and business owners. The authors, Ahmad T. Sulaiman, and Matthew H. Hector have laid down the concepts of consumer law in such a simplified format that it is easily understood by anyone. Lawyers and non-lawyers find this guide to be quite beneficial and it isn’t an understatement to say that this guide has been getting good reviews too!

                Consumers who encounter financial setbacks and see themselves in crisis situations generally panic and act in fear! This guide is primarily intended for them to help them make some important and informed decisions – on the basis of important consumer law oriented concepts. With the knowledge of consumer law, the consumers or individuals can be prepared to face their crisis moments without anxiety or fear! They will also know to protect their consumer rights appropriately.

                It is important to mention that one of the authors Ahmad T. Sulaiman has also written Managing Foreclosure Cases in a Recession (Thomson) and Illinois Foreclosure Defense Strategies (Aspatore Books). He practices law and specializes in real estate law, student loan law, bankruptcy law, mortgage foreclosure law, and the civil litigation law (special focus on FCRA, FDCPA, TCPA, and RESPA). His clientele includes individual investors, individual homeowners, business owners, and commercial property owners.

                Grab a copy of this of Consumer Guide on Amazon.com and the consumers are best assured of some expert guidance through it. In situations that go beyond your capability and if you seek some guidance on creditor harassment or foreclosures, Recovery Law Group will come to your aid with their adept team. Based in Los Angeles and Dallas, the team of bank attorneys will standby to handle your financial crisis situation and help you with great advice. So speak with them – 888-297-6203 for a quick consultation and talk about your bankruptcy queries.


                  *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.

                • Factors to Consider Ahead of the Bankruptcy Filing

                  Factors to Consider Ahead of the Bankruptcy Filing

                  Filing of bankruptcy can be an immediate decision. However, remember that there are certain factors to be seriously considered if you are determined to file for personal bankruptcy. Whether it is to be believed or not, these below actions by the debtors just ahead of the procedure of bankruptcy filing can invite a lot of scrutiny from the bankruptcy trustee who will be assigned to the filed petition. Let’s see what can cause the debtors trouble –

                  1. Taking a cash advance while you are amidst financial crisis and on the verge of filing bankruptcy can land you into trouble. This act might be treated as fraudulent activity and will invite more investigation once the case will be reviewed. In most cases, a significant portion of this cash advance needs to be paid back once the debtor files for bankruptcy
                  2. If you are paying off a family member when you are about to file bankruptcy can be investigated too. Because you owe them money, it makes them equal to any other creditor in your bankruptcy case. Paying them off during the time of bankruptcy case will also not be permitted
                  3. Don’t retitle or transfer assets when you are thinking about bankruptcy. It will be treated as an attempt to protect your assets from liquidation, especially in a Chapter 7 bankruptcy. It could have the counter effect leading to the bankruptcy trustee taking possession of it. Debtors should ideally consider other ways of protecting their assets instead of trying to transfer them to others.

                  A proper plan is always needed in the midst of challenging times of financial crisis and if you are considering a bankruptcy filing. Work with experienced attorneys at Recovery Law Group, who can explain the laws that govern your states and warn you about actions that could cause you trouble. They can also guide you with the processes to appropriately protect your asset. Seek an appointment with them over the phone (Dial-in: 888-297-6203). An experienced bank attorney, either from their offices in Los Angeles or from Dallas, will clarify all your queries just ahead of your bankruptcy filing.


                    *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.

                  • Different Ways of Supplementing Your Income

                    Different Ways of Supplementing Your Income

                    Los Angeles is one of the most expensive cities in America, where the cost of living is 43% more than the national average and cost of housing is more than Two times the national average. This has led many people residing here to live under debt or impatiently wait for their pay cheque every month. Many people are looking for alternatives to supplement their income. The gig of short-term work is on the rise. Selling your stuff on the internet to increase your income is a great way. Thanks to the internet, A lot of options are available for people to sell particular belongings either online or offline for cash.

                    Know Everything about Selling Stuff Online

                    Many online marketplaces are thriving thanks to the internet boom. In case you wish to sell stuff online, some of the popular options include:

                    • eBay — Here any object is sold at a fixed price auction to the highest bidder. The stuff that is mostly sold on eBay combines vintage merchandise, niche products, collectors’ items. It is important to remember that there are a number of fees associated with the site listing fees, final sale fees, Paypal processing fees, etc.
                    • Craigslist – IS a common choice for one-off sales. Listing and selling here are free where most sales are completed personally unlike eBay where the entire transaction takes place online.
                    • Facebook Marketplace – Here, You are selling to people you already know. FB Marketplace accounts are linked to Facebook profiles so you are aware of the identity of the buyer as well as a seller here, Unlike Craigslist where there is anonymity.
                    • Amazon – In case you have a number of the same type of products to sell, Amazon is a great option.
                    • Etsy – Etsy is the preferred listing and selling the place for all creative and crafty items.

                    Since first-timers often end up making some mistake while attempting to sell stuff online, it is important to be aware of tips which can help make more money.

                    1. Never ship product till payment is received. If you are selling stuff online, trusting the other party is important, However, Not at the cost of getting fooled or being cheated. Blind faith while selling the stuff will result in you being in for a monetary loss. It is important to see that the payment is credited before dispatching the stuff.
                    1. Keep margin for shipping costs. Shipping off stuff requires money. You need to be aware of how much money you will require to spend on shipping before actually putting a price on your stuff. U.S. Post Office postage cost calculator comes in handy in such cases.
                    1. Ensure personal safety. In case an online business deal is to be completed in person, It is important to ensure your personal safety. Choose a public place during normal business hours for the meet. In case a local police station offers SafeTrade Stations where online buyers and sellers can exchange goods and cash that is a better option. If you do not wish to share your address with strangers, You can always rent a P.O. Box from the local post office.

                    Everything about Selling Stuff Offline

                    In case you wish to sell your stuff directly without any additional charges like shipping costs, transaction fees and avoid any shady people you meet online, then offline selling options are also available. Offline sale options include:

                    Garage sale – If you wish to sell off stuff the traditional way, holding garage sale is an excellent option. All you need to do is find out the local rules to figure out the details and advertise about it. It is a great way to get rid of all your unwanted stuff.

                    Pawn shop – If you want instant cash for your stuff, pawn shops are your best bet as they pay you immediately. However, The price that they pay is generally below the market value of the item.

                    Consignment shops – Though they might appear similar to pawn shops, consignment shops are different. In this case, your property is under your ownership till it is sold. The proceeds are split with the shopkeeper once it is sold.

                    Trade-ins – People can use this way to sell off the automobile and similar stuff to reduce the price. Many businesses allow people to trade stuff (gaming consoles, old video games, smartphone, etc.) at a discount, in-store credit or cash.

                    Taxes are an integral part of your pay. When you work for an employer, Your employer cuts taxes at source, however, When you make any earning as an independent contractor or a freelancer or even by selling your stuff, every penny you earn is yours. It is important to remember that you do owe taxes in this case too. You need to assure that your income is set aside and provisions are made to cover the income tax bill as well as the self-employment tax. Though there probably won’t be any form listing available for the money you earned by selling your stuff, You are required to report the same to the government. Understanding what you had originally paid for the stuff can help as you can deduct that amount while paying income tax.

                    Though both online and offline selling methods are lucrative, it is important to make a decision regarding the best one for you. In case there is an urgent requirement for cash, then pawn shops or trade-in are a good option (Sometimes, Facebook Marketplace or Craigslist can also give quick results). In case, time is not short, then all options are open for you. If monetary problems are the reason why you are wishing to sell your stuff, then it is important to consult bankruptcy lawyers. They might find another way where you don’t have to sell your prized possessions and yet get out of trouble. Consulting with lawyers makes you aware of your options vis-à-vis bankruptcy and clearing debt problems without losing any property.


                      *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.

                    • Deals & Holidays – Important Financial Lessons for You

                      Deals & Holidays – Important Financial Lessons for You

                      When holidays approach, Every group is frenzied with the thoughts of buying several things for themselves as well for the family. According to the National Retail Federation, Families are expected to spend close to $1000 for gifts, non-gift purchases (like Black Friday deals) and on holiday food. While everyone is easily moved about the season, Holidays are also times that one needs to watch out for cautious spending as this affects the financial status of an individual or a family for the rest of the year. Here is a list of careful moves or important lessons that can help you to spend efficiently and be cautious about your credit – debts that you tend to collect –

                      1. Plan the spending– It is wise to always get a budget that suits your income and the family needs. Involving the older children of the family will teach the habit of knowing what is a priority for the family from the income- the amount that you set aside for groceries, housing needs and also for the holiday spending. If there are younger children at home, Then give them a gift allowance and instill in them the habit of buying within the permitted amount. By this, They will learn the value of every dollar and not treat money as a surplus resource.
                      2. Grab the best deals – Proper research and checking a lot of similar product catalogs can land you into great deals during every holiday season. So don’t grab your desired purchase for this holiday as soon as you lay your eyes on it. Look out for a favorable deal that will contribute towards cost savings. You can always use the savings to buy an additional item to treat you or your children this holiday.
                      3. Savings over Credit – While you provide up for a holiday season, It is imperative that you be prepared for them in terms of saving for the spending involved. With an appropriate yearly plan that includes an investment amount in order to spend on your gifts, The holiday season will be less stressful and can save you from spending on credit.

                      The lessons to your children during the holiday season include the knowledge of interest of rates and how spending on credit will mainly affect the lifestyle later. Imbibe into them a habit of getting a regular allowance from which they can save an amount for their own holiday spending. Another choice would be to lend them an amount within the holidays and then decrease portions from their monthly allowance to make up for it.

                      1. Investments for Holiday Gifts– As your children grow, Teach them that holiday gifts generally do not require fancy dinners, toys or gadgets. Just using for the thrill or happiness of that juncture, They need to be taught of long-lasting happiness or benefits of them for the future. Hence properties would be a wise option for gifts when it comes to the future of your children, Especially stocks and savings bonds. By this, They are exposed to the world of investments and also help them start building a strong financial base.

                      If you are located in California, Los Angeles or Dallas, There are financial consultants who can help you formulate a strategy that will help you combat any kind of catastrophe due to overspending during the holiday season. Firms such as Recovery Law Group have the best company or group of financial specialists who can pick stocks or bonds to gift to your children for your upcoming holidays. They will help in planning wisely for the future of your family too.


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

                        *Do you own a home?

                        Are you currently working?

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