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  • Debt Collection Calls – Be Guarded

    Debt Collection Calls – Be Guarded

    The courthouse has seen scenarios when the creditor reaches out to the consumer with a large valued liability for making calls to the consumer’s cell phone – the calls are the debt collection calls that are mostly placed via an auto-dialler. It has to be checked if the creditor is adhering to the limits set forth by the federal laws for the usage of automated dialling machines.

    Do we know when the creditor uses an auto-dialler?

    • If there is silence for a few moments when you have picked your call, then the collection agent may be using an auto-dialler
    • If you receive a pre-recorded message on calls, then it is highly probable that they are using an auto-dialler

     There are ways that the collectors have an extra edge and not follow these rules of Federal Law

    –          If the debtor has granted permission to the creditor to call their cell phone (disclosed as their contact number in their original contract), then the collection agency and the creditors are protected

    If the above is not the case, then the creditors and the debt collectors violate the Telephone Consumer Protection Act (TCPA) every time when they use an auto-dialler to reach out to the debtor. The penalty for this is $500 per violation and if it is wilful, it can be $1,500 per call that they make.

    Guarding yourself as a Debtor from these Debt Collection Calls

    The debtors who have already shared their contact numbers to the debt collector (not the creditor) and who want to stop receiving the debt collection calls can send a letter via a certified mail/return receipt to the debt collectors. The mail needs to state that – ‘I revoke any the permission that has been already granted to call me on my cell phone regarding this debt account. My contact number is _____________. Please do not contact me on this number again’.

    The additional wise step is to keep track of the TCPA violations and prove them against the debt collector. So log all the calls made to you including the hang-ups (as the violation act starts as soon as the caller places it to your line). The messages sent to the debtors are also punishable violations and this can be a state-specific consumer law (depending on the state that you are currently living in). Hence save your messages and log every call received by you for the debt account.

    Looking for support or do you want to onboard the debt collection lawyer for your case? Seeking the best attorney near me is probably the search criteria that you will use on the search engines for it. Contact Recovery Law Group, who have ample experience with debt collection cases in the states of California and Texas.


      *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.

    • Your reorganization plan after Chapter 11 bankruptcy

      Your reorganization plan after Chapter 11 bankruptcy

      Chapter 11 bankruptcy, also known as reorganization bankruptcy, is exclusive for corporations, partnerships and individuals to work on their reorganization strategy in the midst of financial struggles. They work on reorganizing their finances and restructuring of their debts. Since this bankruptcy has no debt ceiling (different from Chapter 13 bankruptcy), it is much preferred by small and large businesses for the restructuring of their open debts. (more…)

    • Source of Bankruptcy Money

      Source of Bankruptcy Money

      Bankruptcy is the process through which, individuals or businesses who are in conditions of surplus debts and in the situation of financial struggles, get relief of this scenario and regain their stability with finances. In order that this process be debtor beneficial, the type of Chapter against which bankruptcy is filed will be important (more…)

    • The rebuilding of your credit post-bankruptcy

      The rebuilding of your credit post-bankruptcy

      The first step towards rebuilding of an individual’s credit worthiness post his bankruptcy case is to formalize an effective plan and strategy. It is very important to have a working and efficient plan as against the one that caused the downfall and landed you in bankruptcy. Though it is a big relief from all outstanding debts, the report of your bankruptcy filing is going to be impactful on your credit worthiness – at times for 10 years in cases of Chapter 7 filing.

      The good news is that as the bankruptcy period ages, the impact of it on credit offers also reduces. Hence, regaining the trust of creditors is generally going to take some initial time. But it isn’t always the case. Let’s see the ways that can help restore the credit worthiness of you –

      • If you have filed for Chapter 7 bankruptcy, it would take another 8 years for you to file another one. Hence it is a good opportunity to lenders to see you as potential customers who will take care of attending to your personal needs, take care of any further debts that you will be incurring and work on a diligent repayment model. As most of your outstanding debts would have been discharged with Chapter 7 filing, the risk associated in a debtor is minimal in an individual who has just completed a filing of Chapter 7 bankruptcy.
      • Rebuild your credit worthiness by checking your credit score and dispute all false claims in it. If that isn’t the case, the Chapter 7 report will have a direct impact on your credit score and hence formalize a strategy to earn the trust of your creditors and work towards effective repayment options
      • An effective way is to procure a secured loan – an example would be to borrow money against money that is already deposited with financial institutions such as banks or credit unions. Remember that this money will be inaccessible till you completely pay off the loan
      • Another way is to borrow money that you already have such as releasing a loan into a savings account and accessing it only after paying out of certain amounts in a repayment model
      • Secured cards also work similar to borrowing money that is already available as a deposit

      These repayment schedules and the events are shared by banks/ credit unions to the credit bureaus and they reflect on your credit reports

      • Get a co-signed card or a loan from any other individual who is willing to incur the risk on your behalf. It is one of the huge moves of favor and it will be very important that you stick to your schedules of payment & repayments – else they suffer when you default
      • If an offer of credit, say a credit card of $500 limit is given, make efficient use of it and pay it on a monthly basis. Ensure that you keep the threshold at 30% of the card limit and it sure will help you to rebuild your credit after bankruptcy

      Bankruptcy attorneys can be consulted for suggesting best strategies and for devising effective plans for the rebuilding of credit scores. Recovery Law Group houses well-experienced bank attorneys who can come to your rescue when you are looking for the option of rebuilding your financial status after a bankruptcy filing. They serve clients in Los Angeles and Dallas, TX areas.


        *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.

      • In Texas? Ensure That you Adhere to These Guidelines

        In Texas? Ensure That you Adhere to These Guidelines

        Finding oneself in a pile of debts is definitely an uneventful scenario and filing for bankruptcy stands as the only viable option for this. The filing process can help to discharge some or all of the debts and get manageable payment schedules for the others. You can also take care that you are careful of building a future that is devoid of these financial mistakes.

        If you are in Texas, there are some key guidelines to be cautious about when you are filing for bankruptcy. Take a look at them now!

        •  Do not spend your retirement funds–In order to get yourself out of the bankruptcy situation, you may be seeking for several ways for paying off your debts and cover the day to day expenses. Withdrawing and using retirement funds ahead of your retirement age may incur heavy tax penalties and is not advised. You will be able to save your retirement funds when you file for bankruptcy so that your future is secured
        • Do not mislead the court with incorrect information – When you are filing for bankruptcy, you are expected to furnish a lot of your financial information. Providing any inaccurate data can put you in a position of facing criminal and civil penalties
        • Don’t evade the paying of income taxes – Owing dues on the income tax can lead you to scenarios of the debts involving income tax not being discharged. Hence ensure that you rightfully pay your taxes or report the past dues diligently when you file for bankruptcy 
        • Do not accumulate newer debts –Credit offers for new credit cards or loans can tempt you when the finances are very difficult. Newer debts that are obtained within 12 weeks before filing of a bankruptcy can be treated as fraudulent and can have a negative impact on your filing. Creditors tend to claim that new debts were obtained with no intentions of repaying them. Even if you are charging an item on your credit card, let it be related to basic amenities or for living needs. Cash advances and spending on luxury items can also lead to a lot of scrutinies
        • Do not transfer or move your assets –  When you see yourself in a position to file bankruptcy, do not transfer or sell your assets to someone else. This is treated as a scenario of hiding personal assets in lieu of filing of bankruptcy. Remember that these assets may be utilized to repay off debts and hence if your real intention is in keeping them, then consult a bankruptcy attorney such as Recovery Law Group
        •   Do not repay any debts selectively –In case you are considering clearing off certain debts ahead of your filing of bankruptcy, such as paying off personal favor done by a friend or clearing off the bills of your family physician, then it is termed as a preferential payment. The bankruptcy court determines the legal priority for repayment and if at all the settlement to creditors have been made, the bank requests the funds to be returned back from the creditors
        • Filing for bankruptcy is still fair –Avoiding conditions of filing for bankruptcy is not advised especially when debt situations take complete control of your life. Instead of selling off your assets and using up all of your savings, you can consult a bankruptcy attorney from well-renowned firms to handle your financial situation.


          *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 to Stop Wage Garnishment And Collection Actions of Creditors in California

          How to Stop Wage Garnishment And Collection Actions of Creditors in California

          Time and again, bankruptcy lawyers such as those of Los Angeles based law firm Recovery Law Group reiterate that with a few exceptions (taxes, alimony, child support, student loan etc.) garnishment does not take place in states of California, Nevada and Texas unless a creditor has filed a case against you in a law of court and obtained judgment against you. In case they get a judgment against you, they need to file a request for garnishment which is issued to your employer. With this notice, your employer will need to provide your wages to the creditors at a specified time. However, the process requires you to be aware (via a notice) of the garnishment. Post receiving the notice, you need to ensure that you take appropriate actions against it (demand garnishment hearing, prove federal exemptions to the wage garnishment, etc.)

          Considering that you are already going through bad financial times, wage garnishment can really make life difficult. It is important that adequate steps are taken to prevent such instances from happening. One of the ways you can prevent garnishment is that according to federal laws, first $217.50 of weekly take-home pay (after deduction of taxes and social security) is totally exempted from garnishment. In case your wage is more than the mentioned amount, your employer needs to pay the garnishing collector either of the smaller amounts:

          • Your weekly pay after deductions and exemptions ($217.50) or
          • 25% of your weekly pay after deductions

          The specific amount is linked to minimum wage. In case the hourly minimum increases from $7.25 per hour, the weekly amount also increases. It must be kept in mind that this rule applies to wages only as per the federal rule. Supplemental Security income, Social Security payments, and unemployment are exempt from any non-governmental garnishing creditors.

          If you wish to tackle the issue of a wage garnishment, it would be better if you take the services of an experienced bankruptcy lawyer. You can opt for filing for bankruptcy under either Chapter 13 or Chapter 7. When you file for bankruptcy, the automatic stay is enforced which stops creditors from taking any garnishment actions. Simultaneously, the defense should be built up to either slow down or prevent the creditors from any garnishment action.


            *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.

          • Everything You Wanted to Know About Non-Exempt Property Bankruptcy

            Everything You Wanted to Know About Non-Exempt Property Bankruptcy

            Property which isn’t protected in bankruptcy is known as non-exempt property. This doesn’t mean that you will lose everything you own in life when you file for bankruptcy. The entire purpose of bankruptcy filing is to offer a fresh start to people who have had some financial troubles. As per your state’s exemption statutes, you can protect all property listed in it as well as things you will require to maintain a home, such as:

            • Modest amount of equity in car
            • Household fixtures and clothes
            • Tools needed for your profession
            • Your retirement account

            As per Los Angeles based law firm Recovery Law Group any property that is not mentioned in the exemption list comes under non-exempt property. The course of action taken for non-exempt property depends on the chapter under which bankruptcy is filed.

            Fate of Non-Exempt Property in Chapter 7 Bankruptcy

            When you file for bankruptcy under chapter 7, the court appointed bankruptcy trustee sells your non-exempted property to pay off your creditors. The trustee uses the sale proceeds to clear any pending bills as per bankruptcy laws. Priority is given to domestic support (child or spousal support) and tax debt. In case there are no priority debts, the non-priority unsecured debts like credit card balance, utility bills and personal loans are paid off by the trustee.

            Fate of Non-Exempt Property in Chapter 13 Bankruptcy

            The non-exempt property is not sold off by the trustee in this case, but you are expected to pay your unsecured creditors, an amount equal to the value of your non-exempt property. Unsecured creditors are those whose dues aren’t assured by collateral. For example, if you are unable to exempt an asset or a timeshare of half its value, you will be required to pay your unsecured creditors an amount which is the sum total of both, over a 3-5 years repayment plan.


              *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.

               

            • All You Wanted to Know About Federal Non-bankruptcy Exemptions

              All You Wanted to Know About Federal Non-bankruptcy Exemptions

              Apart from the choice between state and federal exemptions available for bankruptcy filers, additional exemptions in the form of federal non-bankruptcy exemptions are available. Individuals who are unable to cope with defaulting on payments and file for bankruptcy can heave a sigh of relief. People can take advantage of exemptions outside the bankruptcy code to help protect their assets when they file for bankruptcy. As these exemptions exists outside bankruptcy code, they are termed as federal non-bankruptcy exemptions. It is therefore important to have a sound understanding of the exemptions under this heading to save your property in rough times.

              Difference between Bankruptcy Exemptions and Non-bankruptcy Exemptions

              Exemptions, whether state or federal, bankruptcy or non-bankruptcy work for the same shared goal – preventing taking under of certain assets, so as to allow the credit defaulter to start a new life. When you avail any exemption, a certain amount of property is prevented from being sold by the bankruptcy trustee to repay your creditors. However, unlike bankruptcy exemptions, it is harder to qualify or use non-bankruptcy exemptions as you are required to belong to a specific group or part of a certain profession.

              Eligibility Criteria for Federal Non-bankruptcy Exemptions

              Unlike Sacramento (California), many states in U.S. allow you to choose from state and federal bankruptcy exemptions. If you wish to avail additional exemption under the federal non-bankruptcy exemption, it is important to know whether your state allows you a choice between state and federal bankruptcy exemption or not. Here’s a list of states which offer you this choice:

              • Alaska,
              • Arkansas,
              • Connecticut,
              • District of Columbia,
              • Hawaii,
              • Kentucky,
              • Massachusetts,
              • Michigan,
              • Minnesota,
              • New Hampshire,
              • New Jersey,
              • New Mexico,
              • New York,
              • Oregon,
              • Pennsylvania,
              • Rhode Island,
              • Texas,
              • Vermont,
              • Washington, and
              • Wisconsin

              Apart from those mentioned above, many states allow only state exemption laws. In case you reside in them, you can avail federal non-bankruptcy exemption. This is beneficial as if you reside in one of the states which allows you a choice between state and federal bankruptcy exemption, and you choose the latter, you cannot use the federal non-bankruptcy exemption. Another factor to keep in mind is that choosing state exemption does not automatically make you eligible for federal non-bankruptcy exemption. You have to fulfil the specialised eligibility criteria if you wish to use it.

              Exemptions under Federal Non-bankruptcy Exemptions

              If you qualify for the federal non-bankruptcy exemption, here’s what you can save apart from state exemptions. It is important to note that unless specified in exemption, there is no dollar limit to what you can exempt.

              1. Retirement Benefits

              If you are a veteran, civil, foreign or military service employee, railroad worker, CIA employee, a military medal of honour roll or a social security benefit recipient, your retirement benefits are entirely exempted.

              1. Death & Disability Benefits

              If you are a harbour worker, longshoreman or a government employee, your death and disability benefits are fully exempted. If you have received any benefits for risk taken, hazards endured, injury sustained or death resulting from war, the compensation is also exempted under federal non-bankruptcy exemption

              1. Survivor’s Benefit

              This exemption is available for people in military service, some judicial employees including judges, Supreme Court Chief Justice administrative assistants, and centre directors as well as for lighthouse workers.

              1. Miscellaneous Non-bankruptcy Exemptions

              As per lawyers from Recovery Law Group, federal non-bankruptcy exemptions include:

              • Military group life insurance
              • Any deposits made by military personnel to saving accounts when on permanent duty outside U.S.
              • 75% of earned but unpaid salaries or 30 times federal minimum hourly wage (whichever is more). Judges can grant more for low income debt defaulters depending on their discretion.
              • Seamen’s clothing
              • Klamath Indian benefits for those Indians living in Oregon
              • Indian lands & their homestead lease or sale earnings
              • Unemployment benefits for railroad workers
              • Any debts incurred by seaman on voyages
              • Wages of seaman except when used for child or spousal support


                *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.

              • Why Should You Always Consider An Attorney While Filing For Bankruptcy?

                Why Should You Always Consider An Attorney While Filing For Bankruptcy?

                Chapter 13, a.k.a. ‘wage earner’s plan’ in the United States of Bankruptcy Code allows defaulters to propose a payment plan that would further enable them to give off their debts and also not sell any of their properties. Filing for Chapter 13 is one of the biggest financial decisions that further associate certain obligations and advantages. Chapter 13 bankruptcy lawyers are the only ones to find you a seamless way out of the situation. They first evaluate if you’re an eligible applicant to then help you avoid complications such as delays.

                One totally has the right to do so without involving a lawyer, and if the case is uncomplicated and straightforward enough, you can save yourself the lawyer’s fees. This is, however, not a wise decision always. Let’s assume your Chapter 7 involves exorbitant assets, filing Chapter 13 without an attorney with such conditions will definitely cost you more than the fee.

                Why Chapter 13 or Chapter 7 lawyers are worth the cost?

                The major advantage of proceeding under the guidance of a professional attorney is that he or she will foresee if there are any potential hiccups that are likely to grow while you’re halfway through, thus plan accordingly. Below is a sample of the value, a professional bankruptcy lawyer brings to the table:

                Bankruptcy planning

                There are types of bankruptcy. You may not know which bankruptcy type you need to file for. Chapter 7 and Chapter 13 achieve a diverse goal, serving a totally different purpose. For example, Chapter 7 helps annihilate debts within a short window, but it does not help save your properties if you’re behind on your monthly payments. An attorney is supposed to consider your needs and constraints carefully and recommend an effective yet seamless bankruptcy filing plan, thus you can achieve your goals.

                What does bankruptcy preparation involve?

                Application of Means Test: This is to determine if you’re eligible for Chapter 7 bankruptcy or if you can afford Chapter 13 case. Your attorney will recognize any such special circumstance and figure out the best possible utilization of it.

                Valuation of your assets: You don’t know how to value that 12 years old television set of yours or your dining room. However, an experienced attorney sure does. He or she will make sure that you divulge and value your properties persuasively.

                Selection and application of exemptions: Each state in America nurtures a different exemption organism, utilized to keep an asset while in bankruptcy. An attorney knows exactly how to utilize that exemption rule, thus to protect a large portion of your properties.

                Identify discharge of debts: There are certain debts that can never be wiped out in bankruptcy. Some head off only if the conditions are met. An attorney is capable of explaining which debts are likely to be discharged and which are potential to survive the case.

                On top of everything, an attorney also helps you avoid bankruptcy fraud. Here’s how?

                Little did you know that bankruptcy fraud is a grave crime in the United States of America. This happens to be a punishable crime by the both criminal penalties and civil penalties. If, while filing for Chapter 7/13, you don’t present all your properties, assets, fake records or information, or if you fail to fill out the bankruptcy form truthfully and completely, you are on the verge of committing a bankruptcy fraud.

                An attorney will always make sure you aren’t at risk of committing any such fraud, thus avoid criminal/civil penalties. Being a professional bankruptcy attorney, he or she will always review your form and cross-verify each and every information you have given out in the form.

                Chapter 7 and Chapter 13 attorneys at Recovery Law Group are easily reachable, despite being busy handling major cases from around the U.S.

                Here you can schedule a free consultation with our experts https://bankruptcy.staging.recoverylawgroup.com/  or Call us on 888-297-6203.


                  *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.