Get Foreclosure Help

Tag: bankruptcy

  • Are Bankruptcy Records Open for All?

    Are Bankruptcy Records Open for All?

    Going through a really bad financial crisis can be really traumatic for people. However, bankruptcy laws are designed to help individuals and companies out of the financial mess, so that they can begin their new lives with a financially clean slate. Automatic stays and discharge of debts are a great help to individual consumers who have filed for bankruptcy under chapter 7 or chapter 13. However, despite various benefits like foreclosure defense, debt relief, and financial stability, there are many concerns amongst people regarding their future.

    Bankruptcy lawyers of Recovery Law Group , a Sacramento based law firm confirm that many individuals are concerned about the public records of their bankruptcy filing. Bankruptcy filings are public, i.e. they are a part of publicly available court documents and can thus be obtained by anyone from the general public. However, having unnecessary fear about this is not fair as being in public records doesn’t mean that everyone will see them or go out of the way to look for them.

    Your Future After Bankruptcy

    Despite the best interest of the public in mind, there are many myths and misconceptions associated with bankruptcy. The U.S. Bankruptcy Code was designed to help people struggling with unpaying debts not to punish them for their mistakes and ruin their future. The effects of bankruptcy are limited in time and it rarely affects your ability to obtain any loan, credit or any other financial transactions. In fact, over time, when you improve your credit ratings, these financial hurdles are also removed.

    It is a misconception that the general public is concerned with your bankruptcy records. Your filing records (information provided on a credit report) is major of use to creditors and money lenders who use this as a line to assess your financial background for extending loans and credits. Despite the fact that bankruptcy filings can remain on your credit report for as long as 10 years (sometimes less), it does not affect your ability to get credit or loans or improve your credit score. In fact, bankruptcy filers can easily rebuild their credit after bankruptcy by following certain rules.

    Get a Fresh Financial Start after Bankruptcy

    Filing for bankruptcy is often embarrassing for people. Admitting that their financial decisions were not as sound as they had thought. No wonder, so many people are concerned about privacy when it comes to the bankruptcy filing. It is therefore important to dispel any fear and myths associated with bankruptcy filings. The bankruptcy records are public records technically, however, they remain private mostly. They are used only by creditors who are allowed access to your credit report such as those listed in your case and on any application where you personally disclose the information.

    However, more important than fretting over bygones, is to get a hang of things and start improving your financials with a new lease of life thanks to bankruptcy. You have a chance to gain control of your finances, clear your pre-existing dues and make timely payments to ensure you can not only save your home and property but also are able to make efforts to build assets over a period of time. With bankruptcy discharges clearing your way, you can make way for a brighter future for yourself.


      *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.

    • A Concise Guide to Thriving Financially after Bankruptcy

      A Concise Guide to Thriving Financially after Bankruptcy

      No matter how indebted you were before, bankruptcy offers a chance to every individual and organization to start a fresh with a clean financial slate. However, one of the major concerns of most debtors is how to keep themselves afloat, steer clear of debt and prosper financially after their bankruptcy episode. Sacramento based law firm Recovery Law Group provides some excellent tips for you to flourish even after declaring and undergoing bankruptcy proceedings. (more…)

    • The Best Way to Rebuild Your Credit Score after bankruptcy

      The Best Way to Rebuild Your Credit Score after bankruptcy

      Sometimes, one bad decision can be just the start of many such similar ones. Before you know it, you have amassed a bad credit score and huge loans which you have no means to pay off. This invariably leads to filing for bankruptcy which may seem like the end of the world. However, things couldn’t be farther from the truth as bankruptcy offers you a chance to wipe your slate clean. You could get rid of old debts which kept your credit score down and get a fresh financial start to rebuild your credit score.

      Bankruptcy and its Effect on Credit Scores
      A credit score is a concise way to show lenders your financial position, i.e. how much risk it would be to loan money to you. A high credit score means your debts are paid on time and on a regular basis, whereas a lower credit score means that you are irregular in making payments. It is, however, incorrect to assume that filing for bankruptcy will end up lowering your credit score permanently. Bankruptcy can cause a temporary drop in your credit score. You can use a number of tips to rebuild your credit score.

      How to Rebuild Your Credit Score?
      As per Sacramento based law firm Recovery Law Group, the primary step needed to improve your credit score is to know your credit standing. For this, you need to obtain your credit score copy from any of the major credit reporting agencies. Checking for any errors is essential, such as any debt which should be discharged by your bankruptcy, contact credit agency and get the issue resolved. Stick to basics when it comes to basics, like don’t spend more than you can afford to, pay your bills in full and on time, including debts which were not discharged by bankruptcy (student loan payments).

      The biggest mistake people can make after bankruptcy is to avoid credit altogether. Though initially, it may seem like a bright idea to steer of any new debts, this won’t be of any help to rebuild your credit. Instead of completely avoiding credit responsibility, take it in small steps. The easiest way to do this is to take advantage of a secured credit card which reports to one of the top 3 credit agencies and make regular payments on time. Paying off entire balance monthly helps avoid making interest payments apart from showing lenders that you aren’t a credit risk anymore. Regularly doing the same can lead to a drastic improvement in your credit score.

      Other methods of getting better credit score comprise of getting a new bank account or applying for a gas card. Paying for gas for your car through this card helps rebuild your credit score as it is one of the regular purchases. Signing up for automatic bill pay ensures that all your bills are paid on time, thereby improving your credit score.

      The most important aspect is not to lose your patience during the entire process of bankruptcy. Though these are trying times, ensuring that you keep making regular payments and develop good financial habits will go a long way in improving your credit score. Make regular credit score checks and soon your ratings will increase with time.

      Bankruptcy filing offers a chance for people to not just wipe off their dischargeable debts, start fresh and improve their financial condition. By taking appropriate steps to fix your credit score you can finally breathe free. Consult bankruptcy lawyers to help you guide through the process and inform you of all 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.

      • Shattering Common Myths about Bankruptcy

        Shattering Common Myths about Bankruptcy

        Money lending is an immensely monetary satisfying business. One of the major reasons why credit card companies and other private lenders thrive is because of the fact that people once used to live beyond their means are a golden goose. They ensure that you are always in debt so that they can make money off you. The biggest way to do this by making bankruptcy, which incidentally, is the best legal resort to get your debts waived off, as one the worst thing to happen to you. To dispel false ideas about bankruptcy, Sacramento based law firm Recovery Law Group busts some of the most common myths associated with bankruptcy while informing why you should not believe them.

        Myth 1

        Filing for bankruptcy will result in you losing all your property and money. For many people, who are under heavy debts, the worst nightmare is to have everything they possess being taken away. Believing in this myth, many debtors avoid filing for bankruptcy, thinking they are protecting their assets. However, the longer you delay filing for bankruptcy, the more your dues accumulate, giving your creditors a chance to use legal recourse against you and seize your money as well as property. Contrary to the misconception, filing for bankruptcy can hold all legal process to sell off your assets. Bankruptcy actually helps protect your assets from all those people claiming a piece of you.

        Myth 2

        Filing for bankruptcy means you will never be able to purchase a car or home. Unfortunately, despite being completely false and ridiculous, many people believe this myth and refrain from filing for bankruptcy. However, bankruptcy provides debtors with a clean financial slate, thanks to which, they can rebuild their credit score. After clearing their dues as per the bankruptcy chapter, they can end up buying a vehicle or a home within a few years if they work on their finances.

        Myth 3

        Hiring a specialized lawyer and filing for bankruptcy is a lengthy, tedious and expensive process which in times of financial distress is something the debtor cannot afford. Unfortunately, filing for bankruptcy is relatively cheaper than fighting legal battles to save your property from the clutches of the creditors. Your creditors will file a lawsuit to claim any and all unpaid dues which will result in you losing your money and property. The smarter option will be to use your money to file for bankruptcy, as you have a better chance of being free of the huge debt you have accumulated than fighting off creditors.


          *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 Basis – How To Get Discharge in Bankruptcy?

          Bankruptcy Basis – How To Get Discharge in Bankruptcy?

          Bankruptcy discharge varies on the type of bankruptcy chapter the case is filed under by the debtor. Bankruptcy discharge relinquishes a debtor from any personal liability for some specified types of debts i.e. a debtor is no longer legally bound to pay any debts that are discharged by the court. Since the discharge is permanent, creditors are prohibited from taking any action (legal action or communication with the debtor, letter, phone call, personal contact, etc.) for the collection of discharged debts. Though the debtor is not to be held personally liable for any discharged debts, a valid lien (charge upon specific property to ensure payment of debt) that hasn’t been evaded will remain after the bankruptcy case. Thus, a secured creditor can enforce the lien to recover the property secured by the lien. (more…)

        • How to Prevent Bank Levies

          How to Prevent Bank Levies

          In case you have incurred huge debts and are in no financial condition to pay them off, the best resource available to you is to file for bankruptcy. To do the same you can either use one of the bankruptcy lawyers to file bankruptcy for you or you can do it yourself. However, as Sacramento based law firm Recovery Law Group explains, many times debtors filing for bankruptcy without any help from lawyers, end up into financial troubles like post-bankruptcy filing bank levies. (more…)

        • If You Thought Success after Bankruptcy is Not Possible, You Are in For a Surprise!

          If You Thought Success after Bankruptcy is Not Possible, You Are in For a Surprise!

          There are many misconceptions associated with bankruptcy. The most popular one being that successful people or business houses do not file for bankruptcy. Another myth is that once you have filed for bankruptcy, getting out from the ruins and making a name for yourself is impossible. Well, nothing could be farther from the truth. Los Angeles based law firm Recovery Law Group would help break the myths associated with bankruptcy and success. Bankruptcy as a process is designed to help people out of the financial mess and help them start a fresh life.
          There have been many instances where big brands have had to file for bankruptcy when they hit bad times. Despite having hit rough waters, they have been able to resurrect their name after declaring for bankruptcy. Big names like fashion designer Betsey Johnson, airlines like Delta, United, American and Air Canada had also filed for bankruptcy and bounced back to become market leaders, turning an excellent year-end profit. If such big names can get up again after biting the dust, individuals filing for bankruptcy too can start afresh. Anyone can end up facing unexpected debts due to a few miscalculated decisions. Expensive legal tussles, huge medical bills, unemployment or any other unforeseen event can cause financial disturbances in anyone’s life. Filing for bankruptcy can help give you a fresh start, wiping your bad credit and allowing you to move ahead.
          To get a head start on turning back the tide, it is important that you consult with bankruptcy attorneys who will help you to regain financial independence post-bankruptcy. Participate in financial empowering sessions to develop an understanding of how filing for bankruptcy can be used to benefit your or your businesses financial standing. Achieve success after filing for bankruptcy, by making a fresh start.


            *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 – Get a Fresh Start

            Bankruptcy – Get a Fresh Start

            People often end up spending more than they earn making them unable to pay their dues. One of the best ways to protect yourself, according to Los Angeles based law firm Recovery Law Group is to file for bankruptcy. This offers a fresh start to people who are unable to pay their dues. They can liquidate their assets to clear their dues or form a repayment plan. Bankruptcy laws can be used to help protect financially unstable businesses too. (more…)

          • How to Avoid Falling Back and Accumulating Loans After Your Bankruptcy Proceedings?

            How to Avoid Falling Back and Accumulating Loans After Your Bankruptcy Proceedings?

            The decision to file for bankruptcy is a tough one. However, clearing up the financial mess is not easy for many unless they choose to file for bankruptcy. Once you have repaid your dues as per court-mandated programme, you get a clean financial slate, meaning, you can easily start over. It will be surprising to know that soon after their bankruptcy is discharged, many debtors start receiving calls from credit card companies, mortgage finance companies or car loan lenders, offering them a variety of credit offers. It will be surprising to know that many of these creditors are subprime lenders that are interested in preying on people who have just cleared their bankruptcy-related dues and wish to improve on their credit score. (more…)

          • How Can Automatic Stay Help People Filing For Bankruptcy?

            How Can Automatic Stay Help People Filing For Bankruptcy?

            Bankruptcy is a daunting word, especially for those who are facing acute financial problems. Filing for bankruptcy does not come easy for people. However, it is surprising that many people are unaware of the fact that a number of options are available for people that can help you during this process. The automatic stay is one of the biggest arsenals in the kitty for people who file for bankruptcy. However, not much is known about this tool. The automatic stay is a part of all bankruptcy cases and helps stop all creditors and debt collection agencies from taking any collection actions against you. (more…)