Credit and Bankruptcy

What Are the Possible Ways to Settle a Credit Card Judgment?

There are enough cases of credit card debts in Los Angeles. People have a surmounting amount to be paid as credit card loans. Most of these credit card loans are unsecured loans; which means the creditors cannot seize credit card owners’ assets if he/she fails to pay the loans. However, the creditor can take rescue and file a case against the debtor. Once he gets a judgment against the debtor, he can propel the debtor to respond in court and take steps to seize the debtor’s assets. For good advice on how to settle a credit card judgement, [...]

2023-03-13T09:36:15+00:00
Read More

Can Credit Cards be Secured Loans?

Credit card loans always relate to unsecured loans by default. That’s what most of us are used to hearing. However, there can be circumstances when credit card loan can be a secured one too. The basic distinction between secured and unsecured loan is that there is a lien or an asset attached as collateral for the lender to capitalize in order to recover the debt. This holds good only if the debtor defaults or misses payments due consistently. To learn more about loans, bankruptcy, and other financial information, log on to Recovery Law Group, the encyclopedia to address [...]

2021-12-07T08:28:59+00:00
Read More

Read the Fine Print on Credit Cards and Avoid Going Bankrupt!

Often people take debts to meet their financial requirements. These debts can be either secured ones (where a property is kept as collateral) such as a home loan or car loans; or unsecured like credit cards, etc. Since most credit card debts do not have any property which can be claimed in case you don’t pay, they can be discharged during bankruptcy. However, sometimes, some fine print on the card can make them secured without you having any knowledge of this. In such cases, these debts will not be discharged during bankruptcy. It is therefore important to be [...]

2021-12-07T09:11:33+00:00
Read More

Increase in Bankruptcy Filings Among Retirees

It is rather a sad state of affairs that Los Angeles is one of the cities that has an increase in the number of bankruptcy filings from the citizens who are above 55 years of age. This number has only doubled since 1994. Despite the need to rest after years of employment, the country witnesses this stupendous rise of close to twenty percent of the total bankruptcy filings to be of the retirees. But professionals say that it isn’t surprising – the failure of the individuals (close to 32%) in setting aside a retirement amount is the major [...]

2023-03-13T09:03:09+00:00
Read More

Paying off debts Vs Bankruptcy

Most debtors see paying off debts as a moral duty compared to filing for bankruptcy. When you contact a financial professional, they do cover the aspects of spending within your income range along with simultaneously building a safety fund. Most citizens find themselves in circumstances where they keep paying off their debts and ignore putting aside a part of their money for retirement. This negligence ends up costing more, not only for the individual but also for society at large owing to the minimal or zero investment from the debtor towards the economy. Solution – Chapter 7 bankruptcy [...]

2023-01-12T11:12:44+00:00
Read More

Laws to Secure Your Credit Reports

According to Javelin Strategy & Research, One of the financial advisory firms in the U.S., more than $100 billion has been gathered in fraud using consumer’s identification between 2011 and 2016. By keeping the identity of others, the criminals open new credit accounts and use that account to purchase the products. Thus, The fraudulent activity has enabled the criminals to cheat U.S. consumers to this large extent. Right now, There are new federal laws that can help the Americans to safeguard their identity and prevent theft. The law which is termed as Economic Growth, Regulatory Relief, and Consumer [...]

2021-12-08T04:03:39+00:00
Read More

Can You Get Credit After Bankruptcy?

People who are undergoing severe financial crisis often abhor the idea of bankruptcy. This can be due to various myths associated with it such as it hampers your credit rating forever, you will lose all your possessions, etc. These myths can be quite a deterrent for people considering bankruptcy as an option for getting out of the financial mess. According to Dallas based law firm https://www.bankruptcyreliefcenter.com/, bankruptcy actually gives people a chance to improve their credit score. More often than not, it has been observed that credit score just prior to the bankruptcy filing and one year after [...]

2019-05-16T10:17:26+00:00
Read More

Meeting of the Creditors – Chapter 7 Bankruptcy

The meeting of creditors has to be formally attended by all the debtors who have filed for bankruptcy within 30 days of the filing. Once a bankruptcy filing has been done, a law firm such as Recovery Law Group puts to work their best attorneys for formalizing the documentation needed for the bankruptcy hearing. These set of documents will be checked by the bankruptcy trustee and meticulously reviewed at the hearing of the case. In the hearing, the bankruptcy trustee performs the verification whether the debtor really qualifies for Chapter 7 bankruptcy. Also, the status of the assets of the debtor is checked. There is nothing [...]

2021-12-08T05:22:50+00:00
Read More

Effect of Bankruptcy on Credit

The effect of filing bankruptcy will remain on your record of credit for a period of ten years. But there is nothing to panic, as this statement doesn’t conclude that you will not be able to further get any debts or finances. In effect, the bankruptcy filing will not be the end of your credit journey. A new start to your financial status Eliminating the debts through the filing of a bankruptcy will give you the provision to start afresh and start saving too! Routine household expenses of groceries, clothing needs and automobile needs can now be accomplished [...]

2019-05-10T13:30:06+00:00
Read More

Can Bankruptcy Help in Getting Rid of Credit Card Debt?

Many people across geographic location and economic strata are facing the problems of bankruptcy. Bad financial decisions or misfortune can be the reason behind anyone facing insurmountable debts. However, managing such a situation can be extremely difficult and tricky. More often than not, people take the help of credit cards to clear off dues, unfortunately accumulating further debts. Many times, people are just trying to find a balance between various dues and card payments trying to ward off debt collectors. […]

2023-03-14T11:11:17+00:00
Read More
Load More Posts

Recovery Law Group Logo

888-297-6203

Headquarters

309 W 11th Street,
Anderson, IN 46016
310-997-0471
Clients: customerservice@recoverylawgroup.com
Attorneys / Trustees and Court Officials: info@recoverylawgroup.com

PAID ATTORNEY ADVERTISEMENT: Wajda & Associates is a law firm. This website is an advertisement. It is not a lawyer referral service or prepaid legal services plan. Each of the lawyers on this site are either Managers, Members, Partners, Limited Partners or staff attorneys. An attorney responsible for the content of this Site is Nicholas Wajda, APC. licensed in California, Texas, and Indiana with offices at 309 W 11th Street Anderson, IN 46016. To see the attorney in your area who is responsible for this advertisement, please  Click here.  Prior results do not guarantee a similar outcome.
We help people file bankruptcy petitions to obtain relief under the bankruptcy code.