All items from Los Angeles Bankruptcy Blog

Creditors can take your self respect, and leave you holding a financial catastrophe. What creditors can take should be up to you, not to them. But it rarely works out that way. Consumers dealing with a bill collector usually feel powerless and helpless.
Receiving a phone call from a bill collector is not pleasant. But, it isn’t supposed to be. For one thing, it is intimidating. People see the bill collector as an authority figure. The collector knows their call makes you feel small, and powerless. What is behind this fear reflex we feel when a collector calls us?



Posted 6 days 2 hours ago

When you have serious debt trouble, “Self Help Debt Plans” can’t help you.
Clark Howard, a “financial expert”,  has been a frequent TV show guest.  He has a “Five simple Steps” debt plan. Suze Orman has a Nine Step Plan. The Motley Fool has a 60-Second Guide. Wiki How has a Nine step plan. I even found a site that debates whether Dave Ramsey’s Self Help Debt Plans beat out Suze Orman’s plans. Not surprisingly, it says sometimes it does, and sometimes it doesn’t. Gee, that’s helpful, huh?
Self Help Debt PlansAll these Self Help Debt Plans have something seriously wrong with them. If you can’t pay your debts, these plans can’t work.  These plans all require you to have significant amounts of spendable income for debt payments. But if you ain’t got the money, you ain’t got the money. No money means no steps to debt help. (Don’t trip over your own feet while you attempt the get-out-of-debt dance routine.)



Posted 1 week 3 hours ago

It takes a bankruptcy expert to explain what is true and what is myth about filing personal bankruptcy. The public has extraordinary misconceptions on the subject of personal bankruptcy. Even the chattering money experts on TV talk shows know next to nothing about it.
Have you ever said, “I can’t pay my bills?” If you have, this article is for you.



Posted 5 weeks 2 hours ago

Abogado de Bancarrota ofreciendo consultas Gratis los Sabados en San Fernando Valley.
 



Posted 5 weeks 5 days ago

Small business failure is a fact of life. But it doesn’t have to be a fact of your life.
You can identify the classic mistakes that often lie at the root of a small business failure. If you are making any of these mistakes, you are asking for trouble. I’ve been a bankruptcy lawyer for 34 years. During that time span I have doctored hundreds of sick businesses. Some could be turned around and saved. Most were too far gone for anyone to make a difference. By far, the biggest mistake leading to a small business failure is bad bookkeeping.



Posted 6 weeks 3 hours ago

I have a warning for you about scam bill collectors. Criminal gangs are posing as law enforcement officials. They are calling people and emailing phony threats to collect on fake debts that you do not owe. They pose as bill collectors. But they’re not. They’re thieves. During the past 2 weeks, I have heard from at least five former clients who got these calls. The description is always the same. The caller will identify himself as a government official. The caller will proceed to tell you that they have a warrant for your arrest for bank fraud. You will  be given an opportunity to pay an immediate cash settlement to avoid being arrested. These callers are thieves. They work out of telephone boiler rooms. Most are probably overseas, where they hide and avoid detection. The callers usually have a heavy foreign accent.
How Scam Bill Collectors Target You.
You are  targeted because you had a bankruptcy case within the past 5 years. The caller ties to convince you that they are for real. To prove it, they will tell you your name. Your address.  And the last four digits of your Social Security number. Your bankruptcy file is a public record.  From that, they got your name, address, and the last part of your Social Security number. They will say that the non payment of your credit card debts was bank fraud. They will say that bankruptcy does not protect you. They will also say that you were duped by your bankruptcy lawyer. That your lawyer should have told you that you have committed crimes.



Posted 6 weeks 3 days ago

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Posted 10 weeks 4 days ago

Yelp Ratings for Los Angeles Bankruptcy Lawyers are not to be trusted. Maybe I’m prejudiced because I have a beef with Yelp. But, maybe I’m right.  Do a Yelp Search for the term, “Los Angeles Bankruptcy Lawyer.”  You will see hundreds of Yelp Bankruptcy Lawyer ratings. But some lawyers stand out from the pack. The same lawyers pop up on almost every page. You can’t get away from them. Here’s why that is. Yelp is an advertising platform. Lawyers pay money to Yelp for premium positions. The more visibility a lawyer wants, the more it costs. My personal beef with Yelp is over one bad review. Apparently, I’m not the only guy in town who is mad at Yelp. But more about that, later.
Yelp Ratings for Los Angeles Bankruptcy Lawyers. Trustworthy?
Yelp has had some bad press lately. The Los Angeles Times has carried numerous articles that blast Yelp. For example, these headlines:
Yelp gets an earful from L.A. business owners - Los Angeles 



Posted 11 weeks 4 hours ago

There is an easy fix for the student loan debt crisis.  Bankruptcy laws should be restored to give back to the bankruptcy courts the responsibility of deciding whether or not to give relief to give individuals who claim they can’t pay. We need to take this out of the hands of the bureaucracy in the Department of Education. The bankruptcy courts were in charge of the process before there ever was a student loan bubble. In a nutshell, bankruptcy used to discharge student loans. That is, provided the borrower had owed the money for a specified length of time and had proved the inability to pay anything back. Borrowers who don’t want to expose themselves to the strictures of the bankruptcy process should continue to owe what they borrowed.

It was ill advised policy to take bankruptcy law out of the student loan relief equation. (A tiny exception remains for the almost impossible to achieve “undue hardship” bankruptcy discharge). The present crisis is the fruit of that ill advised policy change. The elimination of a bankruptcy discharge removed an important safety valve which used to protect the economy from the explosive pressures now referred to as a student loan debt bubble.

We can fix the problem with no need to expand the court system.



Posted 12 weeks 4 days ago

handle a bill collectorI know how to handle a bill collector. I’ve had a lot of experience with debt collectors. First, two things for you to know. I worked my way through college as a bill collector. For another, I’ve been a bankruptcy lawyer in the San Fernando Valley, CA for 34 years. Knowing how to handle a bill collector is my stock in trade. So, let’s talk about how make a bill collector “Shut Up!”
There are three kinds of bill collectors that you as a consumer will encounter. These are:



Posted 12 weeks 5 days ago