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  • What Effect Can My Bankruptcy Record Have on My Life?

    What Effect Can My Bankruptcy Record Have on My Life?

    A bankruptcy filing is a tough yet necessary decision that people struggling with huge financial debts must make. It may take time to get your debts discharged, depending on the chapter of bankruptcy you’ve filed. While it takes about 3-6 months to get a discharge in a Chapter 7 bankruptcy case, Dallas based bankruptcy law firm Recovery Law Group, informs that a Chapter 13 case continues for 3-5 years’ period before you can get a discharge on remaining unsecured nonpriority debts. However, once you have filed for bankruptcy, the case becomes public record and can be seen by anyone.

    Bankruptcy can have a detrimental effect on your credit report. In fact, a bankruptcy stays on your credit report for 10 years. While this may sound a big problem, especially for people who have just filed for bankruptcy or got their bankruptcy discharged in the recent past, there is some relief. Most sites that provide bankruptcy record information are not easily accessible and require paid subscriptions; something which general public will not be willing to do. However, people or institutes with whom you are likely to have business interactions such as bank, prospective employer, lenders, etc. might be interested in viewing your bankruptcy. Sometimes, while applying for a job or seeking a loan, there are questions which specifically ask about any previous bankruptcy. If you file for any loan or credit after bankruptcy your credit report will inform the bank or private lender about your situation. You might still be able to qualify for the loan if improve your credit rating by making regular and timely payments.

    Though you might find all this overwhelming, it is important to remember that filing for bankruptcy is important to get rid of huge amounts of debt which you have no means of paying. Additionally, you have no control and legal control over who can and will access your bankruptcy records. What you can do is ensure that you come out of bankruptcy better; by learning how to manage your finances. Eventually, within a couple of years, you might again be eligible for a house mortgage, student loan or car loan. Bankruptcy is meant to be an aid for assisting people with a fresh financial start. For more details about how filing for bankruptcy can help you get out of the difficult financial situation, contact expert bankruptcy lawyers at 888-297-6023.


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

      *Do you own a home?

      Are you currently working?

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

    • The Bankruptcy Court and Social Media

      The Bankruptcy Court and Social Media

      Can the bankruptcy court interfere with social media space? Well, the answer is certainly yes but not if they are personal social media accounts but definitely if they are social media accounts used for business purposes. This question has popped up after a recent judgment by a Texas bankruptcy court. If any social media platform like Twitter, Instagram, Facebook, etc., are used for promoting business, they can be included in the bankruptcy estate. Not only that, but the bankruptcy court may also order the bankruptcy filer to submit the password of these social media accounts. The same level of authority is not applied for a personal social media account. However, if you are doing business promotions from your personal account and there is no separate business account, confusion begins here. Follow more such interesting and informational topics on Recovery Law Group.

      What was the case?

      In Texas, this interesting case happened wherein a firearm company owner decided to file for Chapter 11 bankruptcy. The owner, Jeremy Alcede had a gun shop. Under the reorganization scheme proposed under Chapter 11, a new boss was suggested to take over the business of the gun shop. The bankruptcy court of Texas ordered the former owner to turn over all the electronic assets of the Tactical Firearm including Twitter, Facebook and all other social media accounts with their passwords to the new owner. Jeremy, however, had other thoughts and refused to share social media account details and would have rather preferred imprisonment.

      What was the argument?

      The former owner put forward a strong argument saying, the account was personal, and he administrated over them and created them. His rants on then-president Obama and all advocates, who wanted to put down gun licensing and eradicate public selling of guns. He used the accounts for voicing the benefits of his shop and garnered a good amount of publicity through them. The court, on the other hand, argued that the social media accounts are directly involved in business promotion and had a business website linked on the bio of the site and hence, shall be regarded as a business account. Considering all these factors, it was determined that social media account directly influence the business of Tactical Firearms and hence, the password and the accounts need to be handed over to the new owners.

      If you are in a similar situation and need assistance to determine if your business account or your personal account could be in danger or not, reach out to 888-297-6203 right now.


        *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 Bankruptcy Filing By An Undocumented Immigrant

        The Bankruptcy Filing By An Undocumented Immigrant

        An undocumented immigrant can file for bankruptcy if he/she has a Social Security Number. In lieu of a social security number, Individual Taxpayer Identification Number can also be used to file for bankruptcy. There can be a negative impact on the immigration status of the bankruptcy filer when filing for bankruptcy as an undocumented immigrant. For best assistance and more insight on bankruptcy, log on to Recovery Law Group now.

        What do the rules indicate?

        The bankruptcy code does not have a specific mention for the bankruptcy to be filed by a citizen of the United States or residents. Bankruptcy is basically a relief that is offered to any individual who is living in the United States, owns a property or business in the United States and for the citizens of the United States. The identity of the filer is the only potential concern when an undocumented immigrant files for bankruptcy. A valid SSN or ITIN in lieu of SSN is mandatory before filing for bankruptcy. An ITIN is a tax processing number that is issued to an individual who is not eligible for an SSN. Since ITINs are issued without consideration to the immigration status, it becomes a very viable option to many.

        What’s the case of an illegal immigrant?

        An illegal immigrant can still possess SSN. The entry in the United States as tourist, student or any other visa is eligible for an SSN. If the immigrant breaches the stay duration, he/she becomes an undocumented immigrant. Most people who have legally entered the United States should have an SSN or an ITIN. If they are not legal immigrants, they might not want to file for bankruptcy as it can result in larger consequences.

        Need for an immigration specialist

        Bankruptcy by itself is a very complicated chapter so is immigration. By mixing these two focal points, the mess can get messier. When the consequences can go so bitter, it is best advised to get in touch with a professional attorney or lawyer who has rich experience and knowledge about these unique cases. Reach out to +1 888-297-6203 right now for best solutions to your problems.


          *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 Happens in a Chapter 13 Confirmation Hearing?

          What Happens in a Chapter 13 Confirmation Hearing?

          Chapter 13 bankruptcy involves the creation of a repayment plan. In this case, all nonpriority unsecured debtors are paid over a period of 3 to 5-years, some portion of the debtor’s disposable income to settle their dues. A bankruptcy trustee is assigned by the court to oversee the proceedings and to distribute the dues as per the repayment plan. However, the proposed plan gets confirmed only after the approval of the judge at the Chapter 13 confirmation hearing. However, bankruptcy lawyers of Dallas based law firm Recovery Law Group inform that there might be objections to the plan.

          Who can object to the repayment plan?

          30 days after the filing of bankruptcy papers, a meeting of creditors (known as 341 meetings) takes place. In this, all interested parties (debtor, his/her attorney, bankruptcy trustee, and creditors) participate and discuss the proposed repayment plan. They can review the said plan and even file an objection to it (which is followed up in the confirmation hearing).

          The bankruptcy trustee needs to review the plan to check for compliance with bankruptcy laws. Apart from this, they are also required to check your income and expense documents to determine that the creditors are getting adequate repayment. In case you are paying less (than you can afford) to your creditors or your plan is not economically feasible, the bankruptcy trustee can object to the plan.

          Though automatic stay prevents all collection actions, it doesn’t necessarily put an end to the misfortune of the debtor. In case a creditor is dissatisfied with your plan, they can object to anything including bankruptcy trustee’s proposed action, any claim filed by the debtor or the position taken by the judge. Some common reasons for objections in a bankruptcy case include –

          • Expenses claimed by the debtor on Schedule J;
          • Exempted property listed by the debtor on Schedule C;
          • Proposed repayment amount by the debtor;
          • Bankruptcy trustee’s stance of abandoning debtor’s property instead of selling it;
          • Discharging of a specific debt or an uncollectible claim filed by another creditor;
          • Fees demanded by any professional appointed by the court or the debtor’s lawyer.

          Type of objections to the repayment plan

          Amongst the various objections raised against those against discharge against any specific debt or the general discharge hurt debtor the most.

          To file for general discharge objection, the creditor or trustee needs to file adversary lawsuit within 60 days of the date of the 341 meetings. To get a discharge dismissed, they also need to prove that any of the following acts took place during or before the bankruptcy case:

          • Debtor defrauded a creditor;
          • Either destroyed or lost necessary records;
          • Hid, transferred or destroyed property which was part of the bankruptcy estate;
          • Was unable to explain the loss of an asset;
          • Perjured himself/herself

          In case discharge is denied, the debtor remains liable for the debts after the dismissal of the bankruptcy case.

          Every creditor is fending for themselves in a bankruptcy case, therefore it is not uncommon to find creditors objecting to discharge of specific debts during adversary proceedings. In case a general discharge is granted, then all nonpriority unsecured debts will be discharged except for that which was objected against. This leaves the debtor’s resources available for the creditor after the end of the bankruptcy case. A certain debt may be declared non-dischargeable if:

          • If you forgot to mention it in your bankruptcy papers;
          • If it was due to getting property or money by fraud;
          • If it was done with malicious intent;
          • If it was due to embezzlement or larceny;
          • If it is a case of presumptive fraud (credit card charges for luxuries within 6 months prior to bankruptcy filing).

          Confirmation hearing details

          The confirmation hearing can be scheduled anytime within 45 days of the 341 meetings of creditors. Objections to the plan need to be written and filed after creditors meeting. If there are no objections, a confirmation order needs to be submitted. In case there are objections to the plan, your attorney can represent and argue on your behalf (unless the judge specifically asks your presence). During the hearing, bankruptcy debtor and all objecting parties can argue about the merits of their plan. If the judge has any questions regarding the plan, they might seek clarification. Time is given by the judge to settle the matter amicably, if not, an evidentiary hearing is scheduled.

          It is better to be prepared for any eventuality. Call 888-297-6023 to speak with experienced bankruptcy lawyers Dallas about how to get your bankruptcy discharged.


            *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.

          • Trustee’s Role in Chapter 7 Bankruptcy

            Trustee’s Role in Chapter 7 Bankruptcy

            Bankruptcy is a great way to get rid of a huge amount of debts. People can file under chapter 7 or chapter 13. When any individual files for bankruptcy under chapter 7, a trustee is appointed by the court to oversee the proceedings of the case. According to Los Angeles based bankruptcy law firm Recovery Law Group, the bankruptcy trustee has various responsibilities including evaluating paperwork, selling of non-exempt property, etc.

            What does a trustee do?

            The bankruptcy trustee is appointed by the court as an independent evaluator for the case. The trustee gets paid to examine your bankruptcy papers and gets a percentage of any assets sold during the process. This is an incentive to perform their duty carefully. They need to carefully assess the property of the bankruptcy filer including any that were transferred or sold prior to a bankruptcy filing. The trustee must be fair in their dealings towards the debtor. The main duties of a bankruptcy trustee in the case of chapter 7 include:

            • Reviewing bankruptcy petition

            When an individual files for bankruptcy, they are expected to provide personal and financial information including their property, income, debts and other financial details. You also need to provide information justifying your claims including tax return, pay stubs and any information about your assets. The trustee needs to verify the information with independent sources as well as from the financial documents you provided. Both figures should match for a bankruptcy petition to be approved.

            • Examining the documents

            A 341 meeting of creditors takes place after one month of filing bankruptcy papers. This is attended by the bankruptcy trustee, debtor, his/her attorney and the creditors. In case the creditors have any questions regarding any hidden assets they might ask during this meeting. The bankruptcy trustee conducts the hearing and asks questions pertaining to the information provided by you in your bankruptcy documents. All this takes place under oath; lying would mean perjury which might result in your case being dismissed without a discharge.

            • Selling of non-exempt property

            The bankruptcy trustee is also responsible for selling any non-exempt assets the proceeds of which are used to pay your creditors. Chapter 7 allows debtors to keep certain property like retirement accounts, household furnishings, clothing, etc. An individual can choose from federal or state bankruptcy exemptions.

            • The debtor has non-exempt property–In case you have non-exempt property, it is sold, and the amount is distributed among creditors. You need to determine what happens to your property before filing for bankruptcy as you do not have automatic right to dismiss your case.
            • The debtor has no non-exempt property–In case there is no non-exempt property, creditors are not paid anything, the case is reported as “no asset” case and all unsecured debts are discharged. If any disagreement arises on exemption status of any asset between debtor and trustee, the final decision is of a bankruptcy
            • Reversing dubious transfer of property

            The bankruptcy trustee can overturn any preferential transfers or improper sale of any asset made before bankruptcy filing. If you transferred property to a family member or friend or paid any creditor preferably over others, then such transactions are undone by the trustee. The money reversed is distributed among all creditors. In case a creditor did not create a proper lien on your property, this can also be reversed by the trustee, and the property can be sold free and clear of the lien.

            If you are contemplating bankruptcy, call at 888-297-6023 to find out more about the process.


              *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 about Texas Bankruptcy Exemptions

              Know about Texas Bankruptcy Exemptions

              Filing for bankruptcy is often considered to be a taboo. You need to open your mind to realize that it is one of the best options to manage your finances, especially if you are struggling with large debts. The government provides various exemptions to debtors when they file for bankruptcy. Call 888-297-6023 to know more about these exemptions and how you can benefit from them.

              Apart from federal bankruptcy exemptions, every state has its own list of exemptions which protect a large portion of bankruptcy filer’s property. When you file for bankruptcy, everything you own becomes a part of the bankruptcy estate, from which you can keep certain exempt property without paying anything. According to Dallas based bankruptcy law firm, Recovery Law Group, some states offer you a choice between federal and state set of exemptions, while others allow you to choose from the state exemption sets only. Though the state of Texas offers you a choice between state and federal exemptions, the state exemptions are plentiful. What’s more, if any asset is not covered by Texas exemption, you can opt for wildcard exemption of federal bankruptcy scheme. A married couple filing for a joint bankruptcy can double the exemption for any joint property they own!

              Here’s a look at various Texas bankruptcy exemptions:

              1. Texas homestead exemptions

              The unlimited homestead exemption is available for 10 acres or less area residence in village, town or city or 100 acres or less in the country. For married couples, this exemption doubles! In case you sell your house, the proceeds are exempted for 6 months after sale under this exemption.

              1. Texas motor vehicle exemptions

              The entire value of one motor vehicle per licensed household member is available as per this exemption. In case there is an unlicensed person who depends on someone else to drive him/her around, you can still get the vehicle exempted.

              1. Texas personal property exemptions

              Personal property except real estate exemptions cannot exceed $100,000 ($50,000 in case of a single adult, without family). in case your personal property exceeds the exemption limit, that much amount will become non-exempt. This includes:

              • Sports and athletic equipment including bicycles;
              • Home furnishings including family heirlooms;
              • Jewelry (with an upper limit of 25% of total exemption, i.e. $25,000 in case of family and $12,500 in case of individual filer);
              • Food and clothing;
              • Up to 2 firearms;
              • Animals, including pet and domestic, plus their food. You are allowed two mules, donkeys, or horses plus tack, 12 head of cattle, 60 head of livestock and 120 fowl;
              • Health saving accounts;
              • Health aids like walking sticks, wheelchairs, hearing aids, ;
              • Burial plots;
              • Bible or any other sacred book (not subjected to $100,000/$50,000 limits).
              1. Pension and retirement accounts

              Most pension and retirement accounts are exempted in both state and federal exemptions. Texas state also provides exemptions to the following pension and retirement accounts:

              • ERISA-qualifies government or church benefits. This includes IRAs, Keoghs and Roth IRAs.
              • County and district employee retirement and pension benefits.
              • Firefighter pension and retirement benefits.
              • Law enforcement officers, emergency medical personnel survivors’ benefit.
              • Police officer retirement and pension benefits.
              • Judges pension and retirement benefits.
              • Municipal employees, state employees and elected officials’ retirement and pension benefits.
              • Teacher retirement and pension benefits.
              • Retirement benefits which end up being tax-deferred.
              1. Insurance exemptions

              These include:

              • Life, accident, health insurance or annuity benefits such as money, policy profits or cash value due or paid to the beneficiary;
              • Texas employee uniform group insurance;
              • Fraternal benefit society benefits (e.g. from Freemasons, Elks, Knights of Columbus, );
              • Texas public school employees’ group insurance;
              • Texas state college or university employee benefits.

              However, Texas does not offer any exemption against lawsuit proceeds. It also lacks a wildcard exemption through which you can protect any property as per your wish. The silver lining is that such a provision is available in federal exemption set, through which you can protect a portion of such funds. In case you have a pending lawsuit or an injury claim under process in court, it becomes part of your bankruptcy estate. If it appears to be of value, the bankruptcy trustee Dallas might hire a lawyer to litigate it. It is important to, therefore, check exemptions before filing for bankruptcy.


                *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 and Payday Loans

                Bankruptcy and Payday Loans

                Payday loans are a very innovative concept which is running around the United States quite contagiously today. It provides instant cash by keeping your future paycheck as collateral. Payday loans are a common point of discussion during bankruptcy as they can make the procedure complicated. While most people take payday loans to clear their existing debts, which may be credit card bills, utility bill payments, personal expenses, etc., the amount is usually limited to about 70-80% of the average paycheck. Just like credit cards, the interest charged on a payday loan is very high. It is an unsecured form of loan and does not have any asset backing and hence, falling into a vicious interest cycle is quite common and obvious. Need more tips on managing finances, log on to Recovery Law Group for more info.

                Concept of Payday loans

                Unlike credit cards or other loan forms, payday loans are highly liquid and are directly deposited in the bank account or are in the form of cash advances. The approval process is also quick, but the processing charge and interest rate are on the higher side. Ideally, the payday loan should be used in a very difficult circumstance and if you are falling back on it several times, its high time you had worked on controlling your finances. Payday loans are generally given on the basis of employment income and history. Credit score and other parameters often play a minimalistic role in determining eligibility to payday loans. Hence, it is the most common loan form for employed individuals with low credit score to access cash instantly.

                Your recent pay slips, employment tenure, etc., matter the most for payday loans. Though there are the state and federal agencies monitoring payday loan providers, it is up to the borrowers to not consider payday loans as a viable option. If it is a one-off situation that wasn’t anticipated then it could still be fine, however, if you need to look forward to a payday loan because your paycheck isn’t enough for meeting routine expenses, you might have just put your foot in the spider webbing.

                Can bankruptcy help in cutting the spider webbing?

                Since payday loans are considered as unsecured debt, bankruptcy can help significantly in managing or releasing the payday loan debts. Whether you file bankruptcy through Chapter 7 or Chapter 13, there are good chances of releasing the payday debts. However, if the payday loans were taken recently before filing bankruptcy, the lender might argue for your intention to not pay the loan and it might be converted a fraud transaction, which will not be released by the bankruptcy court.

                The bankruptcy trustee tracks 70-90 days of transactions hence, it is important to not file bankruptcy after taking payday loans for that period. The usage of these loans also has to be for the necessary expenditure. If any luxury items were purchased or the money was transferred to friends, relatives, parents, etc., for clearing their debt, there can be further consequences of retrieving money from the ‘insiders’. Making big transactions or purchases could also bring you under the scanner of the bankruptcy trustee.

                What is in your favor?

                The bankruptcy courts by default do not support or tend to like the payday loan providers. Hence, there are several favorable clauses that could prove the lender’s claims incorrect. For instance, the court regards the first payday loan as the transaction start date ignoring the recent loan transactions. This certainly helps in addressing the 90-day period that is under the trustee’s scanner. The only option left with the payday loan providers is to convert the transaction into a fraud one, which is not an easy task for sure.

                Payday lenders may also seek for security based on various different factors. It could be a post-dated cheque or a Demand Draft or any financial instrument with a promise of you paying them back in future. The payday lender might try to cash in the cheque even when you have declared bankruptcy and the ‘automatic stay’ has been applied. This is a violation, but litigation and court cases will consume a lot of time and money. The best way to handle this scenario would be by notifying your attorney, bankruptcy trustee and your bank about the post-dated cheque to the payday lender. The banks offer to a stop payment facility at a fee, which is derived based on the number of checks issued. You can consider paying the stop payment fee and preventing the payday lender from cashing a post-dated cheque.

                Need help get help

                Payday lenders often threaten for criminal cases as writing a bad check is one. However, the law is different during bankruptcy. By the illustrated above method, you can stop payment to your payday lender once you are in the ‘automatic stay’. Also, if the payday lender has cashed in the cheque just before you file bankruptcy, the same can also be retrieved for the bankruptcy estate under the Chapter 7 bankruptcy norms. Also, there are many fraudulent payday lenders around in the market who operate only by a website or an app. These websites charge a fee upfront for processing loans and just disappear. Such duping of customers has seen a typical rise in the recent 6-7 months.

                As per law, no upfront fees can be charged before processing a payday loan. Hence, a fee or charge before loan processing is a serious trigger. If you are confused and need help, reach out to 888-297-6203 for immediate professional help!


                  *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 Does Bankruptcy Affect Your Health?

                  How Does Bankruptcy Affect Your Health?

                  People who are suffering from overwhelming debts often find bankruptcy as a way out. Bankruptcy is a legal way to reorganize your finances and get rid of debt so that you can get a fresh financial start. The two main types of consumer bankruptcy are Chapter 7 and Chapter 13. According to a new study, bankruptcy is supposed to not only give you a better financial start but is also good for your finances too!

                  Consumer Bankruptcy Codes Elaborated

                  As stated previously, Chapter 7 and Chapter 13 are the most common consumer bankruptcy codes, each having its own advantages. In chapter 7, your attorney and bankruptcy trustee sort your assets into exempted and non-exempt categories. State exemptions generally cover equity in the property (car and home), cash, up to a certain limit, retirement accounts, personal belongings, and other properties. The state of California has two separate sets of exemptions which cover different amounts of diverse properties. While the exempted property is left out, the non-exempt property is sold off to pay your creditors. In case all your property comes under exempt property, you don’t have to surrender anything. After the process ends, any and all unsecured debts are discharged or written off. Chapter 7 case is not meant for everyone, only those people who are in dire need of bankruptcy protection can file under this chapter. To be eligible for it, Los Angeles based bankruptcy law firm Recovery Law Group lawyers inform, you have to pass the state means test.

                  For those people who are unable to qualify for chapter 7, Chapter 13 is a good option. In this case, you and your legal team develop a repayment plan. This is drawn keeping in view the value of your non-exempt property and your income. Within 3-5 years of your repayment plan, you will be able to make payments on your home mortgage and car payments without losing any property. After the repayment plan is over, any remaining unsecured debts are discharged. Since this chapter provides an option for catching up on mortgage payments depending on your income, it is an excellent option for people with a steady income who wish to avoid foreclosure.

                  It is important to note that both chapters’ help gets unsecured debts such as medical bills, credit card bills or personal loans discharged. Such unsecured debts are completely erased at the end of your bankruptcy while secured debts like home and car loan are handled in a different manner. Your personal liability in secured loans is removed, i.e. if the property is foreclosed or repossessed and is sold for an amount less than what you owe, you are not required to pay the difference. But, if you wish to keep the property, you need to pay the amount due to you. In this case, you can either make payments for the property and keep it or surrender the property and leave any liabilities.

                  With both bankruptcy chapters,’ you get to avail the automatic stay benefit. Thanks to this provision, any collection actions by creditors or debt collectors are legally prohibited. Thus your property cannot be foreclosed or repossessed; you are secure from wage garnishment, collection lawsuits, threatening letters, and phone calls. With automatic stay in place, you get time to get your financial affairs in order. You can call 888-297-6203 to consult expert bankruptcy attorneys to explain in detail how the bankruptcy process works.

                  Debts and their relation to your health

                  There is no denying that financial troubles can wreak havoc on your life. Since you are constantly worrying about how to protect your family and provide for them without losing your assets, it is bound to take a toll on your health. Constant financial concern is the most prominent reason for stress in Americans, which often results in ill health. The higher the stress levels, the shorter your life expectancy can be. You are more prone to anxiety, hypertension, heart problems, diabetes, cancer, and other health disorders with elevated stress levels. Thus debt can be responsible for any ill-health you have.

                  As per a study conducted by the National Bureau of Economic Research, bankruptcy proves to be beneficial for a large number of debtors. The average income for people who filed for bankruptcy increased by $5,000 annually. Even the 5-year foreclosure rate is 20% lower for bankruptcy filers compared to those people who didn’t file for bankruptcy. The most interesting finding is that the 5-year mortality rate is 1.2% lower for bankruptcy filers than non-filers. This indirectly proves that financial stress is alleviated by filing for bankruptcy, thereby improving a chance for people to lead a quality life.

                  On average, any American house has nearly $16,000 in credit card debt alone! This is big money considering the current economy. Paying back such a huge amount is not easy since a large number of people are using a credit card to pay for monthly expenses and sometimes even utilities. This kind of financial stress can cause numerous health issues in individuals (both physical and mental). More often than not, people who are struggling with debt are unable to find a way to get out of this mess and improve their finances. However, bankruptcy is one of the best ways to get rid of your debt by either consolidating it or paying it off in small installments. In case you too are struggling to make financial ends meet, consulting a bankruptcy lawyer make things clearer for you. Get your case evaluated to find out the best possible way to deal with 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.

                  • Tax Mistakes to Avoid While Filing for Bankruptcy

                    Tax Mistakes to Avoid While Filing for Bankruptcy

                    Liquidation can frankly be quite overwhelming and confusing for an average person. Filing for taxes while considering bankruptcy (either Chapter 7 or Chapter 13) is double trouble. In case you are confused regarding tax filing during the trying times of bankruptcy filing, you can call expert bankruptcy attorneys at 888-297-6023 to find out about your options.

                    Out of the two possible chapters under which individuals can file for bankruptcy is Chapter 7. This results in the discharge of all unsecured debts like a credit card, medical and even income tax debt in rare cases. Under Chapter 13, you are expected to make payments to the bankruptcy attorney as per the prescribed repayment plan for 3-5 years. After payment to creditors like income tax agencies and IRS, etc. the remaining unsecured debts are discharged post the repayment plan.

                    Thus, filing for income tax is extremely important as per Dallas bankruptcy lawyers Recovery Law Group . As per U.S. Bankruptcy Code, before the commencement of bankruptcy case, the debtor’s recent tax returns are required. In fact, the returns for the past 4 years can also be required. The timing for filing bankruptcy needs to be perfect if you wish to make things easier for you.

                    However, there are certain tax mistakes you should steer clear of if you are considering filing for bankruptcy.

                    1. Take care of any refund

                    Refund on taxes that you have received prior to filing for bankruptcy, might be seized by the government. In case you might be on the verge of getting a refund, protecting it through bankruptcy is the best option. Certain expenses like spousal or child payments, health care, etc. are essential debts and can be taken care of by the refund you have received. Consulting with an attorney can clear things up.

                    1. Transferring your money to protect it is a no-no

                    Under federal law, non-disclosing of monetary assets during bankruptcy is a violation and is considered perjury. If you are looking to avoid prison, don’t try to hide property in someone else’s name. An experienced bankruptcy attorney can help you with ways to protect your saved money during bankruptcy, without breaking any laws. Disclosing your assets to your attorney can easily help save them legally.

                    Unlike popular perception that property not under your name cannot be touched by the court, bankruptcy has a weird way of handling things. Any assets transferred to family or friends prior to bankruptcy filing are seen as ways to protect them. This often causes the court to take harsh steps which include voiding the transfer to have the property back in your name or worse, dismissing of your bankruptcy case. In the case of latter happening, you will be required to refile the case which will result in additional fees and letting go of the automatic stay benefit.

                    1. Delay paying back relatives

                    During bad times, family and friends are often there to lend a helping hand. Often people feel obliged to repay them as soon as possible. However, if you are considering filing for bankruptcy, paying your relatives back might not be the brightest idea. Any payment made from tax refund will appear as one favoring a particular creditor over others. This may result in the bankruptcy trustee taking back the payment made to the relatives. If you wish to make any such payments, consult a bankruptcy attorney before going ahead with it.

                    Family and friends are considered “insiders” and any payments made to them 1 year prior to filing for bankruptcy are considered preferential. An amount larger than $600 made to any relative within 1 year prior of bankruptcy filing will become a part of your bankruptcy estate. Any payment made to any creditor of over $600 in the preferential transfer period (1 year for family and relatives and 90 days for non-family creditors) needs to be disclosed.

                    1. Do not make payments above $600 to unsecured creditors

                    Any payments made within 90 days prior to bankruptcy filing need to be disclosed, especially if they are above $600. The bankruptcy trustee is bound to go through the records to see what payments were made. In case you wish to pay off some debts, prioritization is extremely important. Secured debts like mortgage payments or car payments, etc. should be your priority. Most unsecured debts like credit card and medical debts, etc. are discharged after bankruptcy. It should, therefore, be kept in mind that you shouldn’t pay off secured debts through unsecured debts like a credit card. Before making payments to any creditor, discuss with your attorney to understand the ramifications of your actions.

                    1. Avoid buying luxury goods

                    Since your spending habits will be studied extensively by the bankruptcy trustee, it makes sense to avoid overspending on unnecessary items like luxury goods, etc. when you are considering bankruptcy as a way out of the financial mess. These purchases and foreign holidays are things which will work against you during the bankruptcy process.

                    Holding on to tax refunds during bankruptcy is the best option. Having an experienced bankruptcy attorney by your side can work wonders for you. You can use the tax refund to pay the bankruptcy fees so that you get some respite from adverse creditor actions.


                      *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.

                    • Criminalizing Private Debts

                      Criminalizing Private Debts

                      There are criminal proceedings on defaulters on the debts that they owe to creditors. Let’s take a scenario where the debtor has fallen sick and has missed out on the payments that he/ she regularly makes. The notices about missed payments have just been ignored since the debtor is away on treatment. The piled up debt now invites court hearings – the intimations of these too have not been attended to and this eventually turns out to issuing of warrants for the arrest of the debtor for the failed payments.

                      This is not a surreal scenario and can happen to any of the debtors who fail on his private debts. It is not the question about a debtor’s prison that needs to put you into a tight spot but the private debt collectors who cause enough agony. Whether they are just a few dollars or even larger sum of debts, they use the justice system to prey on the debtors and force them towards paying the debts. A report titled, “A Pound of Flesh: The Criminalization of Private Debt”, claims that one out of three Americans are facing the pressure from collections agencies as their private debts are turned to them. The report has been collated by the American Civil Liberties Union (ACLU). As per the reports, the number of Americans who are arrested and face imprisonment is 77 million people and the majority of them are the black and Latino community folks who battle poverty and wealth issues.

                      What leads to the arrest in private debt?

                      The debts are criminalized when there is a default in payments and even after issuing of notices to appear in court, the debtor fails to appear. Subsequently, the warrant of arrest is issued by the judge. There have been scenarios that the debtors are not notified of appearances or of the lawsuit.

                      The creditors can seek the assistance of collection firms (there are approximately 6,000 of them in the U.S.) for this process of debts collections from the debtors. These debt collectors file lawsuits asking for the repayment. Close to 95% of these cases turn out favorable for the collector as the debtors don’t defend their case, as reported by the ACLU. The debtors report their unavailability due to work, or illness, or childcare, or disability, or lack of transportation, or that they weren’t aware of the lawsuit. The count of issued arrest warrants for unpaid student loans & utility bills is several thousand. Since these warrants are tracked as arrest warrants by the court, the exact number is quite unknown. It might be shocking to know that there have been arrests for amounts as low as $28, and more than half of the U.S. states (including California) witness the scenarios with arrest warrants for private debts.

                      Agonized with threatening letters & creditor lawsuits

                      The ACLU has reviewed the situation around private debts and concludes that more than 1 million consumers get threatened by their credit via letters demanding the payments. The district attorneys in the U.S. have also allowed the debt collectors from private agencies to utilize their seal and signature on these letters. The repayment demand letters have only confused and agonized these debtors. Several of them are people who have suffered a loss of a job, or a divorce or even the death of a family member. While some battle illness and have medical bills that have piled up causing them debts. Hence they survive on the Social Security and unemployment related insurance. There are retirees with disabilities or on veteran’s benefit.

                      ACLU’s recommendations on Debt practices

                      The ACLU has concerns over the process of debt collection and calls it abusive considering that it affects human rights and equal protection. The regulations that govern the debt collectors have to be improved a lot.

                      ACLU’s report suggests the below recommendations:

                      • Judges shouldn’t be issuing the arrest warrants in cases of contempt or failure to appear in court related to debt collections
                      • State Legislatures to enact laws that prevent arrest warrants in debt collection lawsuits
                      • Forbid the contracting between district attorneys and private debt collection firms
                      • State attorneys to oversee the work of a district attorney & their contracts – mainly their involvement in debt collection practices. In lieu of this, they should sue unfair means of debt collection and protect the consumers.

                      Recovery Law Group, operating in Los Angeles, California and in Dallas, Texas are in concurrence with the above recommendations and work with consumers who suffer at the hands of collection agencies.

                      Assistance to pay off debts

                      Debtors do not immediately step up for assistance to pay off their debts. It is several years that they try to tackle the burden and then land themselves in situations of facing threats, arrests and pressurizing phone calls. For some, Chapter 7 or liquidation bankruptcy could be an option and for the other debtors, Chapter 13’s repayment plan can come to their aid. In order that they get ample support, the debtors can dial 888-297-6203 for the expert team of attorneys at Recovery Law Group. Their clientele in Los Angeles and Dallas are numerous and they have proven records of assisting debtors who are amidst financial challenges involving their private 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.