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Can Mortgage Amount Remain Despite Bankruptcy?

Call: 888-297-6203 Bankruptcy is complex and requires a lot of time to understand. Having an experienced lawyer like those of Los Angeles based bankruptcy law firm Recovery Law Group can be a huge asset. Managing various loans, filing papers and reaffirming certain debts can be quite confusing for the layman. Though, bankruptcy is considered to give you a way out from a huge amount of debts; yet sometimes certain debts might remain even after completion of your bankruptcy chapter. In the case of Chapter 13, individuals pay some portion of their debts through the repayment plan. These may [...]

2019-09-05T12:25:18+00:00
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How Long Does It Take to Rebuild Credit?

Call: 888-297-6203 In terms of credit rating, nothing could be worse than bankruptcy. Since it has long term effects on your credit history, you should weigh in all options before choosing to file for bankruptcy. As per Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is a red flag which warns creditors of your financial issues. Depending on the bankruptcy chapter, the bankruptcy record remains on your credit report for 7-10 years. Thus, for this duration, you will be facing negative effects such as getting new credit at reasonable rates, etc. Though bankruptcy can cause numerous [...]

2019-09-05T12:25:09+00:00
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Account Portrayal in Bankruptcy

Call: 888-297-6203 Bankruptcy can adversely affect your credit report, this is a known fact. However, what most people are unaware of is, how the status of your accounts is affected after bankruptcy. In case any individual files for bankruptcy, the accounts included remain for seven years and are then deleted. According to Dallas based bankruptcy law firm Recovery Law Group , the various representations of the accounts included in bankruptcy are: In the case of Chapter 13 bankruptcy, public records are discharged after five years from the bankruptcy filing date. Accounts included in bankruptcy which were current, remain [...]

2021-12-07T05:11:30+00:00
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What to do If You Want to Get a Mortgage Loan After Bankruptcy?

Call: 888-297-6203 Though it is designed to relieve you of your debt issues, bankruptcy can cause huge problems for you too; especially when it comes to getting loans. When any individual files for bankruptcy, it becomes public record and appears on their credit report. This makes prospective lenders aware of the risk associated with lending money to you. Hence, you find very few creditors willing to give you the loan at rates and conditions which are acceptable to you. In case you wish to get a mortgage loan after going through Chapter 7 bankruptcy, you will find that [...]

2021-12-07T05:12:08+00:00
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Can Bankruptcy Be Removed from Your Credit Report?

Call: 888-297-6203 People having trouble in managing finances often resort to bankruptcy. It is the last solution to deal with excessive debt which is quite difficult to pay back. Despite getting rid of a huge amount of debt, bankruptcy can have a negative effect on your credit rating. People find it difficult to get a loan, credit card, and even job once they have filed for bankruptcy. According to Dallas based bankruptcy law firm Recovery Law Group lawyers, bankruptcy remains on your credit report for a period of seven to ten years (from the date of filing) depending [...]

2019-09-05T12:24:36+00:00
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Everything You Wanted to About Bankruptcy

Call: 888-297-6203 When a person has lost all hope of recovering from financial distress, then the last option left for them is filing for bankruptcy. Though it is an excellent way of getting rid of debts and wiping your slate clean, it has adverse effects too. You might end up losing some of your possessions. Getting credit might be difficult for you for almost as long as the bankruptcy is mentioned on your credit report. According to Los Angeles based bankruptcy law firm Recovery Law Group lawyers, bankruptcy is a way out for people struggling to make their ends [...]

2023-03-31T14:32:25+00:00
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When Should You Consider Filing for Bankruptcy?

Call: 888-297-6203 Filing for bankruptcy is a decision that should be taken after careful consideration regarding the long term implications, say Dallas based bankruptcy law firm Recovery Law Group. This is a sane advice since bankruptcy has serious ramifications which last quite long. Bankruptcy is an indicator of financial risk. The records are public and appear on your credit report. Thus, every lender becomes aware of your financial situation and getting credit, therefore, becomes difficult. Experienced bankruptcy lawyers say that filing for bankruptcy should always be your last option. The most common chapters individuals can file bankruptcy under [...]

2021-12-07T05:15:49+00:00
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Rebuilding Credit After Bankruptcy

Call: 888-297-6203 Everything takes time. Neither does a person become bankrupt overnight, nor does building your credit. Though bankruptcy is an effective way to get rid of a huge amount of debt, it has repercussions too. It can tank your credit score like anything. Since bankruptcy becomes public record, your efforts to get a loan might be extremely difficult for a long time. Chapter 7 and Chapter 13 bankruptcies remain for ten and seven years respectively on your credit reports. This is because the majority of your debts are discharged without paying anything in the former case, while [...]

2019-09-04T10:32:27+00:00
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Are Accounts Included in Bankruptcy Deleted?

Call: 888-297-6203 When you file for bankruptcy, it is important to remember that any and all accounts that are included in the bankruptcy will find a mention on your credit report. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, inform that these accounts will not be deleted from your credit history immediately after a bankruptcy discharge, but remain on the credit report for a period of seven years. This seven-year duration is from the original delinquency date or the date of the bankruptcy filing. Individuals can file for bankruptcy under Chapter 7 or Chapter 13. [...]

2019-09-04T09:58:32+00:00
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Can a Discharged Chapter 7 Bankruptcy Affect Your Credit Score?

Call: 888-297-6203 Bankruptcy becomes public record and finds mention on your credit report, even after the discharge. In case of a Chapter 7 bankruptcy, since no loans are paid back, it is mentioned on your credit report for a duration of 10 years from the date of the bankruptcy filing. According to Dallas based bankruptcy law firm Recovery Law Group, when the bankruptcy filing is discharged, the credit report should be updated to show the status. This discharge status should be extended to include all accounts included in bankruptcy. The update should also be done by the lenders [...]

2019-09-04T09:58:21+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.