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It is extremely disappointing if the lender calls continue post-bankruptcy. Filing for bankruptcy should be relieving but sometimes, the lenders just do not leave the debtor at peace. If you have filed bankruptcy, and availed discharge but are still being harassed by calls from the lenders for their dues, we have a few solutions how to get around the same. Meanwhile, if you want to know anything and everything about bankruptcy, do not hesitate to log on to https://www.recoverylawgroup.com/bankruptcy/.
Phases of bankruptcy and lender rights
During different phases of bankruptcy, the powers of lenders are restricted. For example, when a debtor files for bankruptcy, the lenders cannot call, make attempts to reacquire the collateral, exercise any lien, proceed with an ongoing lawsuit, or file a new one, foreclose on the home of the debtor, send emails, texts or letters threatening or seeking repayment, etc. The notice received after bankruptcy can be used to indicate the lenders about their rights for recouping their money. As soon as bankruptcy is filed, the relevant parties are provided with the notice through different communication modes and hence, the debtor can see a significant reduction in calls or lender recouping methods.
Tricks used by lenders after bankruptcy discharge
The lenders might use different tricks to deceive a lender and recover some or the full amount of their debt even after a discharge. This can be rare, but many bankruptcy filers have reported such activities in past. These may include-
- Pressuring you to enter a new debt contract that sort of renews the previous debt
- Re-modifying a new debt with the old dues, commonly associated with an asset like a car or a home
- Calls, emails, or messages demanding recovery of debts even after discharge
- The financial institutions might threaten to keep the debt open/unpaid in financial records like credit scores unless and until the debt has been settled
- Sending notices and threatening for a lawsuit and similar actions
- Attempts to repossess or foreclose a property
These tricks are desperate attempts by lenders to get back their money. Not everyone can digest a bankruptcy discharge, which makes these recouping tricks common amongst unorganized lenders. These can be valid only if the bankruptcy case has been dismissed and not discharged. Your attorney can file a counter lawsuit or report the unethical actions of the lender to the bankruptcy court and shield you against these disturbing lender practices. You can avail the services of some of the best attorneys from Los Angeles & Dallas, TX on 888-297-6203. Dial now and avail of help instantly.