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  • Information Essential for Filing of Bankruptcy

    Information Essential for Filing of Bankruptcy

    Once you have concluded that bankruptcy is probably the best way to get rid of your debts, it is time to consult an experienced bankruptcy lawyer. Most lawyers will ask you for a detailed account of your income, assets, and debts. This is because while filing for bankruptcy, you are required to disclose all this information as per Federal Law. For a person struggling with finances, reliving their failures can be quite overwhelming, however, this is something you cannot avoid if you wish to have your debts discharged. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, a bankruptcy attorney will require these documents for preparing your bankruptcy petition:

    • Questionnaire

    The questionnaire helps in gathering information about the income, assets, and debts of the prospective bankruptcy filer. You are also required to provide information regarding any assets you had held or transactions done within the past 2-5 years. The attorney can determine an outline of your finances from these questions and assess which would be the correct time to file for bankruptcy.

    • Proof of income

    Individuals can file for either Chapter 7 or Chapter 13 bankruptcy depending on their average income. To calculate this, a record of your income for the previous 6 months is required. In case of a salaried person, pay-stubs or cheques of the last six months; for a business owner, the profit and loss statements for the same duration and for a retiree, their social security or retirement income award letter will be needed.

    • Credit report

    Since many people might end up forgetting how much they owe to whom, using their credit report is ideal. This gives an idea of the debts you need to include in your bankruptcy. To be on the safer side, you should get your credit report from all three credit reporting bureaus so that you do not forget to include any debt when you file for bankruptcy.

    • Other documents

    Apart from these, your lawyer might also need –

    • your tax return information for the past two years
    • your bank statements for a minimum duration of six months
    • titles to assets (vehicle, real estate, )
    • latest mortgage statement, etc.

    It is important that you are honest about the information provided when you file for bankruptcy. Since federal law requires complete transparency, any hiding of information could lead to your case being dismissed without a discharge. This will send you in a position worse than when you had started. If you are not sure of anything, ask your bankruptcy lawyer Los Angeles. If you haven’t hired one, you can call 888-297-6023 to schedule an appoint with qualified attorneys to discuss your case.


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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.

    • Know More About Texas Bankruptcy Exemptions

      Know More About Texas Bankruptcy Exemptions

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      The worst fear people have about bankruptcy is losing all their assets to liquidation. You will be surprised to know that liquidation of assets is not as common as is believed. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, many states provide exemptions which can protect the majority of your assets from going under the hammer. Texas has amazingly generous bankruptcy exemptions that can protect more property than federal bankruptcy exemptions. The different categories of the exemption provided by Texas bankruptcy laws include:

      1. Homestead exemption

      One of the major concerns people have is for their home. Texas offers an unlimited dollar amount of equity in the homestead exemption. This means that you are going to retain the roof over your head, irrespective of the equity in your home. However, the catch is that you must be a resident of the state of Texas for a minimum duration of 2 years and the area of your home must be less than 10 acres (if located in the city) or 100 acres (if present outside city limits). The area is 200 acres in case of a family (in the latter case).

      1. Personal property

      A single person can claim an exemption for personal property worth $30,000. The amount is extended to $60,000 for a family. The items you can protect through this category of exemption include sporting equipment, home furnishings, clothing, tools, etc. Though jewelry is included in this case, the limit is capped to 25% of the personal property limit ($30,000 or $60,000). You can also exempt one vehicle per licensed member. Other items exempted under this category include tools of the trade, farming vehicle and equipment.

      1. Health benefits

      Any equipment which is prescribed by the doctor and is essential for daily routine can be exempted under this category. Social security disability income, as well as supplemental security income, is also protected in Texas.

      1. Insurance policies

      If a dependant is named a beneficiary, then you can protect life insurance policies too through Texas bankruptcy exemptions. There is no limit attached to the value of such policies. Few examples of policies included in this category are accident, health, life, fraternal benefit, annuity benefit, social benefit, Texas college, and state university employee benefit as well as Texas public school employee’s group benefits.

      1. Retirement plans

      Retirement accounts such as 401(k), 403(b), certain IRAs and profit-sharing plans can be exempted up to an unlimited amount in Texas.

      1. Military exemptions

      Military insurance benefits, active duty wages, and survivor benefits are protected through Texas bankruptcy exemption laws. Apart from this, the court also prevents any wage garnishment or collection action taken against a member who is on active duty. Benefits, insurance, and wages of veterans are also exempted except in case of paying priority non-dischargeable debts.

      To know more about bankruptcy exemptions in your state, you can call 888-297-6023.


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

        *Do you own a home?

        Are you currently working?

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

      • Know Everything About Bankruptcy Before Opting for It

        Know Everything About Bankruptcy Before Opting for It

        Call: 888-297-6203

        Your finances are something you generally don’t discuss with everyone. If you are facing some monetary problems, your family or a few friends might be able to come to your rescue. If, however, the debt is too much, even they can’t help. Bankruptcy might be the only possible way to legally get rid of debt. Despite the advantages of bankruptcy, it is important that you don’t jump into it without being aware of the details or you might end up blindsided. Los Angeles based bankruptcy law firm Recovery Law Group, suggests that it is always important if you consult experts before coming to such an important decision as a bankruptcy.

        Many people fear bankruptcy as it can have a negative effect on their credit report. However, there is no denying the fact that you can get rid of several unsecured debts through it. If credit card bills, personal loans, and medical bills form the major chunk of your debts then bankruptcy is the best way out for you; though, it is vital that you hire the services of qualified attorneys specializing in the field. This is because bankruptcy is a complex process involving numerous rules and regulations and laws which are not everyone’s cup of tea. A professionally qualified person such as a lawyer can suggest the best way to get rid of debts.

        There are various chapters through which you can get debt relief and the requirement for each varies. Individual debtors can file for bankruptcy under Chapter 7 or Chapter 13. Since every case is different there is no thumb rule to determine which chapter of bankruptcy is ideal for you to apply for debt relief. Having a bankruptcy lawyer can be an asset in this case. If you would like to consult with experienced bankruptcy lawyers Los Angeles, you can call 888-297-6023 to schedule an appointment.


          *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.

        • Is it Possible to Reopen Your Bankruptcy Case?

          Is it Possible to Reopen Your Bankruptcy Case?

          Call: 888-297-6203

          When people file for bankruptcy, their bankruptcy can either be dismissed because it does not fulfill all criteria, lacks some important document or has valid objections raised against it by creditors; or, the bankruptcy is discharged once all responsibilities are completed (dues are cleared). However, inform Los Angeles based bankruptcy law firm Recovery Law Group lawyers, sometimes, the bankruptcy case is closed without a discharge. Since bankruptcy is a complex process, closure of case without discharge is possible. If this is the case, you will require the assistance of experienced bankruptcy lawyers. You can call 888-297-6023 to schedule an appointment with the best-qualified attorneys.

          Sometimes, your bankruptcy file might be closed because of a mistake- like not completing the mandatory credit counseling course or worse, completing it and forgetting to attach the certificate. Since the course is compulsory, the lack of certificate might cause your case to be closed without a discharge. Not listing all your creditors and/or your assets is another reason which can cause your bankruptcy file Los Angeles to be closed without a discharge. An experienced bankruptcy lawyer can guide you through the process of reopening your bankruptcy file or you could avoid making these mistakes altogether if you hired an attorney from the 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.

          • What is the Role of a Trustee and Bankruptcy Administrator?

            What is the Role of a Trustee and Bankruptcy Administrator?

            Call: 888-297-6203

            Bankruptcy is a complicated process. Since most people have lived a sheltered life, dealing with financial problems which have gone out of hand, and the legal jargon involved in bankruptcy can be a bit too much. It is therefore advised to consult experienced lawyers if you are contemplating bankruptcy as a way out of the huge burden of debt. If you wish to know more about bankruptcy, you can call 888-297-6023 to speak with qualified bankruptcy lawyers.

            As per lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, the bankruptcy trustee and bankruptcy administrator probably play the most important role in your bankruptcy. Despite bankruptcy being a federal legislation, state laws regarding the same also play an important part. Apart from the states of Alabama and North Carolina, where Bankruptcy Administrators oversee the bankruptcy proceedings, all the remaining states have a U.S. Trustee as the person who oversees the bankruptcy case.

            The bankruptcy trustee is responsible for supervising your case. Additional duties involve liquidation of non-exempt property to pay your creditors, administering the money as per the repayment plan to the creditors, etc. Bankruptcy administrators also carry out the same work, but they do not do so directly. They have a panel of private trustees to do the work. The administrator oversees that all the transactions is carried out properly as well as checks the conduct of debtor and creditors.

            Bankruptcy can be quite complex, and you certainly cannot afford to make mistakes. If you wish to get a discharge of your debts successfully, you should trust qualified bankruptcy lawyers Los Angeles to handle your case.


              *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 Myths Busted

              Bankruptcy Myths Busted

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              Despite bankruptcy being one of the best ways to get rid of debts, there are numerous myths associated with bankruptcy because of which people are wary of filing for it. However, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, it is important to sift fact from fiction, especially about something as important as a bankruptcy.

              Here’s a look at some of the most common myths associated with bankruptcy.

              #1 If you have a job, you can’t file for bankruptcy

              In the case of Chapter 7, debts are discharged, after the filer’s non-exempt property is sold off to pay your creditors. However, Chapter 13 bankruptcy involves repaying some portion of your debts to the bankruptcy trustee, as per the court-approved repayment plan. Apart from this, additional costs include filing fees, the fee for credit counseling course as well as the attorney’s fees. Regular payments as per your plan are essential in this case.

              If you lose your job and find it difficult to make payments, you can ask the judge to modify your payment plan. Throughout the plan, your total repayment amount will remain the same, however, the payments can decrease when required and increase when you can afford to make payments. When you file for bankruptcy you are required to provide your last two months’ pay, your past six months of bank statements, as well as last four years of tax returns.

              #2 Bankruptcy makes you bad

              Despite insurance cover, a huge amount of medical bills can send anyone towards bankruptcy. It is not surprising to note that most people who file for bankruptcy owe huge debts towards medical bills. Majority of these people are working citizens who regular pay taxes. When you file for bankruptcy you can get rid of several debts including credit card bills, personal loans, etc. Majority of the debts catered to in a Chapter 13 bankruptcy are secured ones like mortgage, automobile debt, child support, alimony, and taxes. A small percentage of your repayment amount goes towards settling your unsecured debts. After completion of the repayment plan, any unsecured debt which remains is discharged, with creditors sometimes end up receiving nothing.

              People can get rid of their debts by other methods too. Seeking a reduction in their debts might make a better option than filing for bankruptcy. If possible, bankruptcy should always be the last option for people to address their debts. You need to ensure that the timing of your bankruptcy is perfect. It is better to wait some time if you are expecting more medical bills in the near future. A qualified bankruptcy attorney can suggest the best time to file for bankruptcy as well as the chapter you would benefit from. If you are looking for a consultation, you can call 888-297-6023.

              #3 Your credit is ruined by bankruptcy

              Bankruptcy indeed has a negative effect on your credit report; however, the effect is not permanent. In most cases, people who file for bankruptcy probably have bad credit which can only go one way. Bankruptcy wipes your slate clean and thus, in the long run, filing for bankruptcy will improve your credit score by getting rid of bad credits. In the case of Chapter 7 and Chapter 11, bankruptcy remains on your credit report for 10 years while Chapter 13 bankruptcy Los Angeles appears for 7 years. Despite this, filing for bankruptcy will probably help you in getting rid of debts which you had no way of clearing.

              Filing for bankruptcy might cause you to have some difficulty in getting credit after discharge because declaring bankruptcy puts you in the credit risk bracket. Despite this fact, bankruptcy filing helps you get rid of the huge mountain of debt and provides your disposable income for your use. Responsibly managing your money after you get your bankruptcy discharge goes a long way in rebuilding your credit. Since a credit check is done usually when you are seeking employment or while making big purchases like house or vehicle; if you are already in possession of all, bankruptcy won’t have much effect on you, except getting rid of debts. It is therefore vital that you consult experienced bankruptcy attorney to get hold of your finances while divesting you 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.

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

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

                Call: 888-297-6203

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

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

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

                Sharing credit reports and being aware of the financial situation of both you and your partner provides you with an opportunity to manage the finances. Discussing things before marriage is advised as you can avoid several problems later. Professional assistance can be taken from bankruptcy lawyers by calling 888-297-6023.


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

                  *Do you own a home?

                  Are you currently working?

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

                • When is The Credit Score Updated After Bankruptcy?

                  When is The Credit Score Updated After Bankruptcy?

                  Call: 888-297-6203

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

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

                  There is not going to be much change in your credit history just after bankruptcy is removed. Sometimes, negative items in credit history might cause no improvement in your credit score. You can get a free copy of your credit report to ascertain whether bankruptcy has been removed from it or not. It is important to have the latest credit report if you wish to seek any new credits. Changes in risk level should be reflected in your credit score and credit report. If you need the assistance of experienced bankruptcy lawyers, you can call 888-297-6023.


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

                    *Do you own a home?

                    Are you currently working?

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

                  • How Long Does It Take to Rebuild Credit?

                    How Long Does It Take to Rebuild Credit?

                    Call: 888-297-6203

                    In terms of credit rating, nothing could be worse than bankruptcy. Since it has long term effects on your credit history, you should weigh in all options before choosing to file for bankruptcy. As per Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is a red flag which warns creditors of your financial issues. Depending on the bankruptcy chapter, the bankruptcy record remains on your credit report for 7-10 years. Thus, for this duration, you will be facing negative effects such as getting new credit at reasonable rates, etc.

                    Though bankruptcy can cause numerous problems in getting new credit; however, with certain steps like managing your finances and being responsible with your budget, can help improve your credit rating slowly and steadily. Continuous efforts in this direction can help you rebuild credit even before bankruptcy is removed from your credit reports. In case of any doubts related to bankruptcy, call 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.

                    • What to do If You Want to Get a Mortgage Loan After Bankruptcy?

                      What to do If You Want to Get a Mortgage Loan After Bankruptcy?

                      Call: 888-297-6203

                      Though it is designed to relieve you of your debt issues, bankruptcy can cause huge problems for you too; especially when it comes to getting loans. When any individual files for bankruptcy, it becomes public record and appears on their credit report. This makes prospective lenders aware of the risk associated with lending money to you. Hence, you find very few creditors willing to give you the loan at rates and conditions which are acceptable to you. In case you wish to get a mortgage loan after going through Chapter 7 bankruptcy, you will find that things are not exactly favorable for you.

                      According to Los Angeles based bankruptcy law firm Recovery Law Group lawyers, getting a loan at favorable terms is a bit difficult, especially after a bankruptcy. Despite getting a discharge for your loans, your credit report is not wiped clean. Since Chapter 7 bankruptcy involves no repayment of loans, this remains on your credit report for a duration of 10 years. Thus, if you wish to get credit at reasonable rates and fees, you need to make efforts to rebuild your credit. This takes time and effort on your part but with good payment history, you can qualify for mortgage loan too!

                      Steps for rebuilding credit after bankruptcy

                      People who file for bankruptcy have the option of choosing from Chapter 7 or Chapter 13 bankruptcy. They can also decide to reaffirm a loan when they choose to keep a car or home or credit accounts which they could have surrendered. Making continuous and timely payments on such accounts, after bankruptcy, can be a great way to rebuild your credit history. Other steps include:

                      • Applying for secured credit cards with the bank. This option is a great choice for people who have no positive accounts open which can help re-establish credit. Using this type of card for making payments on essential items like utilities etc. and living within means can slowly improve your credit rating.
                      • You could also ask a family member or friend to co-sign a loan or open a joint an account with you.

                      With time and steady work, your credit score improves, allowing lenders to put faith in you. Sometimes, you might even qualify to get a mortgage loan at normal interest rate before the bankruptcy is removed from your credit history.

                      When can you apply for a mortgage loan?

                      An individual fresh out of bankruptcy discharge, applying for a mortgage loan will not get any offers, even at the high interest rate. However, with time, things can be better, especially if you have worked hard to improve your credit rating. A Chapter 7 bankruptcy remains on your credit history for 10 years while Chapter 13 bankruptcy Los Angeles for 7 years. If within that time frame, you have developed a positive credit and established yourself financially, then you can opt for a mortgage loan. Pre-qualifying for a mortgage is one thing and getting it at a reasonable rate is another. If you get a loan at favorable terms, you are in luck; in case you don’t, you can always wait for your bankruptcy to be removed from the credit report before reapplying.

                      Bankruptcy does not need to be a huge problem, especially with experienced lawyers by your side. If you wish to seek expert opinion on your case, you can call 888-297-6023 to schedule an appointment.


                        *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.