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  • Motions to Dismiss Denied in FDCPA/FCRA Case

    Motions to Dismiss Denied in FDCPA/FCRA Case

    Recently, the Eastern Division of the U.S. District Court Northern District of Illinois passed a judgment by denying all the attempts made by the defendant to dismiss the counts against them. In this FDCPA/FCRA case, the accused –Bayview Loan Servicing, LLC has failed to correct the error in lieu of the plaintiff’s mortgage obligation after filing for a bankruptcy discharge.

    Facts of the Above case:

    1. Before the merger between Countrywide Home Loans and Bank of America in September 2012, the plaintiff had carried out 2 mortgage loans with Countrywide Home Loans. After the merger, his loans were under Bank of America. In December, he was informed that his previous loan of mortgage were now taken over by Bayview loan Servicing and he owes the sum amount to them.
    2. After learning about the new acquision, the plaintiff applied for bankruptcy under chapter 13 in December 2012. As per the Bankruptcy plan, he agreed to surrender his home. An Order of Discharge for the same was received by him in May 2014.
    3. After the Order of Discharge was issued, Credco (Defendant No 2) without the plaintiff’s consent, requested and received all the copied of the plaintiffs Experian Credit Report.
    4. In the mean while, the plaintiff was constantly receiving Post-discharge communications from Bayview. As per the communications, he had failed to pay his mortgage payments and hence faced foreclosure of his home as per the bankruptcy plan.
    5. As per the plaintiff’s claim, Experian and Equifax’s Credit report contained errors as per his mortgage with Bayview. He alleges, that despite informing both the reporting agencies of the error, Equifax did nothing to correct the error. On the other hand, Experian did attempt to correct the error, but failed to eliminate few information.
    6. The plaintiff also alleged that Bayview had violated the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA) and the Illinois Consumer Fraud Act (ICFA). Credco (Defendant No 2) has also been accused for violating the FCRA.

    In this case, the Court accepted the plaintiff’s plea and passed the judgment in his favor. As per the court, FDCPA’s norms were violated by Bayview and hence, all motions to dismiss were denied.

    If you are one such victim and believe that yours rights have been violated under FDCPA or FCRA, do not hesitate to contact the best Recovery law Group Firm to come to your aid. With experienced litigators, your case with be handled with utmost ease and professionalism. To get in touch you can reach out to them on their website or simply call them (888-297-6203) and fix an appointment to get immediate redressal.


      *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.

    • The Decline in Chapter 11 Filings

      The Decline in Chapter 11 Filings

      There is certainly a vivid decline in the rate of filed bankruptcies for business across the entire United States. Bankruptcies are commonly filed by only small businesses that have annual revenue of 2.5 million or less. These small business organizations generally approach the courts for their tougher conditions towards the business operations. Only a few states such as Illinois witnessed Chapter 11 filings demonstrating a gain in 2014. The increase was close to 6 percent at the end of the first quarter of 2014. This increase has been majorly contributed by large casinos in Illinois such as Harrahs, Showboat, Caesars, and Horseshoe. These casinos have filed for Chapter 11 bankruptcies in the Northern District of Illinois.

      This situation has been assessed by economists and they cite a few reasons for this declining trend. The lower interest rates associated with business loans have urged the businessmen to borrow more but these businesses that underwent financial struggles have already closed in the year 2007 when the recession was seen. Another reason is that the filing of bankruptcy is generally a costly affair and hence businesses start looking for other alternatives to solve their debt issues.

      There is a forecast for the increase of Chapter 11 filings in the coming days as there has been a rise in the interest rates of business loans and some of the already issued ones, like the ones of 2009 are very soon due. So if there is a business that is yielding good revenue yet experiencing financial difficulties and battles paying their dues, then filing for business bankruptcy is a viable choice. By working towards the restructuring of debts, the business can get the financial relief that is needed and can be brought on its track with better control.

      If you are running a business that doesn’t generate revenue in order to pay your business dues, then it is better advised to reach a law firm like the Recovery Law Group. Their team of bankruptcy attorneys will explain clearly all the process and the outcome of Chapter 11 bankruptcy filing. Recovery Law Group operates in Los Angeles, California and in Dallas, TX. Remember that working with the experts in this field and with an efficient plan of reorganizing the debts in your business, you can gain better control of your business. Call them at 888-297-6203 to avail their services and reshape the financial structure of your business with them!


        *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.

        • Can tax debts be discharged during bankruptcy?

          Can tax debts be discharged during bankruptcy?

          Accumulation of unpaid dues can lead to people being burdened by debts. Bankruptcy is an excellent way to get many debts discharged. However, being able to get all debts discharged is extremely tough, though not impossible. Unsecured debts are often discharged after bankruptcy however debts such as education loan, government taxes, and child and spousal support, etc. cannot be discharged during bankruptcy.

          However, Los Angeles bankruptcy lawyers Recovery Law Group say that even such debts can be discharged depending on the type of bankruptcy.

          For individuals filing chapter 13 bankruptcy, tax debts are paid off as per the repayment plan; while in chapter 7 bankruptcy, some tax debts are discharged depending on the nature of tax and the duration of the debt incurred. To get federal tax debt discharged under chapter 7, you need to fulfill certain requirements.

          These include:

          • The debt must be more than 3 years old
          • The debt must be income tax related and not payroll or fraud penalties
          • Prior to bankruptcy filing, the taxpayer must have filed tax returns properly for more than 2 years
          • It is important that the taxpayer has made no evasion of taxes or any fraud related to tax returns previously
          • Tax assessment by IRS must be performed a minimum of 240 days prior to a bankruptcy filing

          In case the aforementioned taxes are discharged, any penalties assessed on them are also liable to be dischargeable. Post discharging on debts, IRS cannot indulge in wage garnishment or any other action for collection of the debts. In case you need any assistance regarding queries about personal bankruptcy, consult expert bankruptcy attorneys at 888-297-6023 to put a stay on repossession and foreclosure as well as getting rid of your debts.


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

            *Do you own a home?

            Are you currently working?

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

          • Can a Litigant Who has filed for Bankruptcy be harassed by Financial Servicing Company?

            Can a Litigant Who has filed for Bankruptcy be harassed by Financial Servicing Company?

            A plaintiff who had executed a mortgage loan from Bank of America, N.A. on April 16, 2007, was unable to make adequate payments to the bank. This resulted in the bank filing a foreclosure complaint against the plaintiff. Post this, the plaintiff filed for bankruptcy under Chapter 13 in January 2013, which resulted in automatic stay affording protection against any collection actions. In June 2013, a modification was made in Chapter 13 bankruptcy by the plaintiff, wherein they proposed to surrender the home to Bank of America, N.A. against their claims. This modified plan was confirmed in June 2013, by the bankruptcy court.

            This debt was later sold off by Bank of America, N.A. to BSI Financial Services, Inc. To recover the dues, BSI Financial Services, Inc. sent a Notice of Servicing Transfer to the plaintiff on October 1, 2014. According to the notice, the plaintiff is expected to send any payments due on or after the said date to BSI Financial Services, Inc. A disclaimer was also attached to it, according to which:

            In case you have filed for bankruptcy, the “automatic stay” comes into effect in a bankruptcy case, or you have received a discharge for personal liabilities for obligations specified in the letter, BSI Financial Services, Inc. will not and does not intend to pursue collection of said obligation from the plaintiff personally.

            After six months of sending the above-mentioned notice, BSI Financial Services, Inc. made over ten phone calls to the plaintiff’s cell phone, nearly five calls to the home telephone and more than 10 voicemails. The plaintiff responded to BSI Financial Services, Inc. and asked them to stop the constant harassment since they had already filed for bankruptcy. But despite the request, the calls continued. According to the plaintiff’s complaint against BSI Financial Services, Inc. they had:

            • Made a minimum of 10 calls within a 2 month period (between October 15, 2014, and December 12, 2014)
            • Used automatic dialer system to call the plaintiff
            • Continuous calls were made to plaintiff’s cell phone
            • Made regular attempt to contact the plaintiff without their consent.

            BSI Financial Services, Inc. asked the court to dismiss all four different claims made by the plaintiff. Since numerous complaints were made by the plaintiff, the court also gave multiple decisions:

            1. Since BSI Financial Services, Inc. had acted as a debt collector, thereby violating the Fair Debt Collection Practices Act, the 1st charge of the complaint was not dismissed by the court.
            2. Since there was no proof that the voicemails left by BSI Financial Services, Inc. were pre-recorded, that plaintiff answered calls or that there was a delay before plaintiff got any human response, the 2nd charge was dismissed.
            3. The 3rd count was not dismissed as the defendant, BSI Financial Services, Inc., had indulged in acts of collection, assessing and claims of recovery by sending the plaintiff letters and numerous phone calls all amounting to the collection. Due to these actions, the defendant had willfully violated the bankruptcy automatic stay.
            4. A further analysis was required to assess whether the defendant had violated the Illinois Consumer Fraud Deceptive Business Practices Act for the 4th

            In case you find yourself in a bad financial situation, it is important that you contact expert bankruptcy attorneys at 888-297-6023 to find out the best possible course of action for yourself. To frame an effective plan for your financial problems, consult Los Angeles based law firm Recovery Law Group .


              *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.

            • Business Debts

              Business Debts

              The interest in launching something innovative often leads to venturing into business initiatives. In the U.S. the individuals find great platforms and get good support to start their own business and this spirit of entrepreneurship is much appreciated by society. However, there are ample things to reckon before one decides to take the big plunge into the business world of U.S. – the business venture could either be big or small, the invention of the new or expansion of the old.

              The foremost factor to consider in starting a business venture is the availability of a proper business plan. Unless you have the roadmap, there is no vision in your venture. Alongside this plan, the crucial aspect is the availability of stable investors. Without these aforementioned resources, it is easy for an individual to quickly land into a financial crisis with the business that he starts. The outcome is business debts and it could keep mounting with each day. It is quite normal for an individual to start their business in debt but with time the progress with business should save them from getting into financial crisis.

              Bankruptcy filing for business debts

              Surplus debts that turn out to be unmanageable for the business owners force them to file for business bankruptcy. It isn’t a negative move for your business to file for bankruptcy and there is nothing to worry or be shameful about it. The businesses see it as an opportunity to reconstruct their debts and formulate a plan to build their financial stability. At any cost, the filing of business bankruptcy shouldn’t be used for protecting your assets or your business fraudulently.

              You will definitely admit that the procedure of filing for business bankruptcy and the related tasks are very stressful. Unless the debtor has a backing through an efficient bankruptcy firm, it is always advised to stay away from business debts. Recovery Law Group, operates from Dallas, Texas and from Los Angeles, California have expert attorneys who can offer the support and guidance to handle situations of business bankruptcy. Dial 888-297-6203 to avail their services and get speedy solutions.


                *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.

              • Getting out of Debt has Never Been Easier!

                Getting out of Debt has Never Been Easier!

                Financial problems which seem to be spiraling out of hand are not uncommon. There are many rowing in the same boat. In case you find yourself overwhelmed with the enormous debt, you need to find a solution at the earliest. Since most creditors and debt collectors want you to remain under debt, they will never let you know that bankruptcy is one of the best solutions for huge financial debts. You need to consult a bankruptcy attorney to find out which alternative suits your condition best.

                Chapter 7 Bankruptcy

                People who find themselves buried under a huge debt due to credit card bills, medical bills or any other unsecured debt can get a fresh start through Chapter 7 bankruptcy. In most Chapter 7 bankruptcy cases, an automatic stay is put in effect as soon as the case is filed. This is the biggest asset as it puts a freeze on all collection initiatives taken by creditors and debt collectors including foreclosure, repossession, wage garnishment and even threatening phone calls and letters. This is the biggest relief one could get as these collection and harassment initiatives take a toll on debtors.

                Getting a discharge order in Chapter 7 bankruptcy case (within 4-5 months of filing) eliminates most of the unsecured debts (credit card debt etc.). In case collection agencies or creditors try collecting that money, they will be violating court orders which is a punishable offense.

                Chapter 13 Bankruptcy

                Apart from Chapter 7, other alternatives are also available. People having a large income, many secured debts and high-value assets cannot opt for Chapter 7 bankruptcy. For such people, Chapter 13 is the available alternative. In this case, a 3-5 year repayment plan is devised which allows individual debtors time to catch up on due amounts without any harassment from collection agencies or any mounting dues, repossession or foreclosure threats. Post the repayment plan, any unsecured debts that remain are eliminated.


                  *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.

                • Thinking of Filing for Bankruptcy? Here are the Things You Should Avoid Doing

                  Thinking of Filing for Bankruptcy? Here are the Things You Should Avoid Doing

                  In case you are having trouble in managing your finances and the debts keep on surmounting, bankruptcy is legal recourse available to take care of the situation. However, there are certain things to be kept in mind if you are considering filing for bankruptcy. It is important to consult a bankruptcy lawyer such as those of Los Angeles based law firm Recovery Law Group to help you prepare for your case as well as the outcome. It is important that you are aware of the changes your life will take after the bankruptcy case gets over. Bankruptcy lawyers also help to provide information regarding the process and ensure that your rights are protected during the entire bankruptcy proceedings.
                  A major task of bankruptcy lawyers is to ensure that their clients do not commit some mistakes prior to bankruptcy filing which can have a disastrous effect on their case. Here are some things which people thinking of filing for bankruptcy should avoid at any costs:

                  Not hiring a lawyer – People can file for bankruptcy without a lawyer too. Many times they think that hiring a lawyer will be an additional expense. However, laymen are unaware of the intricacies of the bankruptcy proceedings and can cause more harm to their future without a lawyer than with them. Going solo can be the biggest mistake you could make in a bankruptcy case.

                  Neglecting to file for tax returns – Your tax returns are essential and form an integral part of your bankruptcy petition. All income tax claims are satisfied thanks to the timely tax returns filed. In case tax returns are not filed and up-to-date, this could have a detrimental effect on your case and it may even come to a standstill.

                  Providing incorrect information – You are required to submit your financial data to bankruptcy trustee or lawyer when you file for bankruptcy. This data is reviewed by the court and in case the information is incomplete, inaccurate or false, there could be criminal proceedings against you, your case might get dismissed and your debts not discharged, thus ruining your chance of getting over financial instability through bankruptcy.

                  Moving assets or changing titles – There is a certain time period before filing for bankruptcy which specifically comes under scrutiny in case you have moved your assets elsewhere or changed the title of ownership of any property. This is taken as an attempt to hide assets which may cause your case to be dismissed. In case you have done anything of this sort, you should wait for some time frame before filing for bankruptcy.

                  Running up debts – If you get on a spending spree within 90 days of filing for bankruptcy, the debts may not be discharged. This kind of activity is considered fraudulent and if proved so by creditors, you will be found liable to clear all those debts which had been made in the hope of getting discharged.

                  Prioritizing creditors – Some payment made by you can be undone in some cases of a bankruptcy filing if the court finds the circumstances dubious.

                  Hiding assets – Many times people either hide assets or fail to disclose any asset that they can expect (will, settlement, trust or lawsuit, etc.) It is important to trust bankruptcy lawyers to protect such assets legally.

                  In case you are considering to file for bankruptcy to get over your financial problems, ensure that you consult lawyers who specialize in handling bankruptcy cases. They can advise you on the options available to you for debt relief including which chapter you should file under for maximum benefits.


                    *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.

                  • Will Filing Bankruptcy Require Liquidating of Business?

                    Will Filing Bankruptcy Require Liquidating of Business?

                    It isn’t uncommon for a business owner encountering situations wherein revenues decline and debts become surplus. Planning and executing business is by itself a challenge and being in junctures of financial instability can be equally worrying. Luckily, the U.S. Bankruptcy Code is a saving grace to address these startling situations of the financial crisis in businesses and in personal front too!
                    The key question of a business person is whether the business needs to be liquidated in bankruptcy. To throw some clarity to this, here are some important factors that are to be understood while the business owner files for a bankruptcy

                    The type of bankruptcy filed for your business will be the deciding factor and it determines whether your business/ company needs to be liquidated. Filing for bankruptcy under Chapter 7 clauses of your business requires your company and the other assets to be sold in order to settle your creditors. In cases of companies/ businesses that haven’t been incorporated or under sole proprietorship, the type of bankruptcy to be filed will be a personal Chapter 7 bankruptcy. So discuss it with the right business attorney whether Chapter 7 bankruptcy for business or for an individual is needed for your case.

                    Filing for Chapter 11 bankruptcy for the financial issues in your business enables the restructuring of those debts so that they can be repaid over time. This scenario is somewhat similar to the bankruptcy filing done by individuals and couples using Chapter 13. Chapter 11 bankruptcy is suited for larger businesses and saves the company and its assets from being sold – the bankruptcy plan should have been presented earlier and approved by the bankruptcy court.

                    Another view to Chapter 11 bankruptcy for businesses enable the company to liquidate their assets in an orderly or organized way. This is best suited for businesses when they are determined to close operations or if their operating costs are higher than before. This planning created buyer friendly conditions and yield better liquidation outcome.

                    If the business owners run a business of good value and that assure recovery over the years, then they can repay their debts via an approved bankruptcy plan – this plan should have been in place and approved by creditors & bankruptcy court. They can continue operating their business and save it from liquidation. The bankruptcy trustee determines the value of your company and whether there are assets in your company that can be liquidated in order to benefit creditors

                    Despite the stated factors above, every business case could be quite unique in its nature. As renowned bankruptcy attorneys, the Recovery Law Group works with every client who has fallen into tough times financially in personal and business fronts. The clientele base that we cater to is from the Los Angeles and Dallas, TX regions.


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

                      *Do you own a home?

                      Are you currently working?

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

                    • Should I Keep My Car during Bankruptcy?

                      Should I Keep My Car during Bankruptcy?

                      Bankruptcy is a name which often causes people to panic. This is so because most of the time, it is associated with the image of being thrown on the streets penniless. However, nothing could be farther than truth. More often than not, the financial situation of an individual is tight, which has led them to file for bankruptcy. Since financial problems can affect a number of areas of your life including your job, property, and vehicle, many people question whether it is appropriate to keep their vehicle if they plan to file for bankruptcy. (more…)