Bankruptcy Credit Repair and Rebuilding
Bankruptcy is the First Step in Raising your Credit Scores!
To Enroll in the Credit Rebuild Program: Click Here
When you retain Doan Law Firm to file for Bankruptcy, the services are threefold. First, we immediately order all creditors to stop all phone calls and other communications per California and Federal Laws. If they don’t, we sue them for $500.00 per phone call. Second, we prepare, file, and conclude your Bankruptcy case, from start to finish. In Chapter 7 this is generally 4 months and Chapter 13 generally 3 to 5 years. Finally, we clean up your credit once your case is concluded and offer you discounted access to the best credit rebuilding program out there. This three (3) month program can raise credit scores to above 700 in 12 to 24 months, despite filing for bankruptcy!
Ironically, Bankruptcy is actually the first step in raising your credit scores!
It is not rocket science if you understand why. Bankruptcy has a direct positive effect on credit scores since approximately 1/3 of your credit score is based upon the debt to credit ratio. By reducing the outstanding debt to $0.00, Bankruptcy has a positive effect. In fact, most clients receive an immediate 30 to 50 point jump on credit scores at Bankruptcy Discharge.
In addition, Doan Law Firm has strategically negotiated a special business relationship with 720creditscore.com to further raise credit scores. This 3 month credit rebuilding program takes place upon chapter 7 discharge or chapter 13 plan confirmation. It is a 7 step program that generally improves credit to the “great category” (720 fico score) within 12 to 24 months. Thats right, a credit score in the 700’s can be possible through this program 12 months after a Bankruptcy Discharge! And, it only takes about 15 minutes a week!
While 720creditscore.com charges $1000.00 per client for their three month program, it is only $199.00 for Doan Law Firm clients. As the Southern District of California’s largest Bankruptcy Filing Firm, our volume has provided this specially negotiated rate for Doan Law Firm clients! We are also authorized to offer this program to Non-Clients for $250.00. CALL NOW 1-800-380-DOAN OR CLICK HERE TO ENROLL IN THIS CLASS!
Bankruptcy destroys your credit is a Myth. Bankruptcy actually improves credit!
CREDIT REPORTING AFTER BANKRUPTCY
Once you receive discharge, your credit reports should report each debt with a $0.00 balance and “discharged in bankruptcy.” Reporting anything else is simply unlawful. For instance, the following items would be unlawful to report by a creditor:
1) Balance of $5,000
2) Past Due $350
3) Charge Off on (date after bk filing date)
4) 90 days past due(if past due arose after filing date)
5) Foreclosure(if took place after bk filing date)
6) Repossession(if took place after filing date)
It is illegal if a creditor either uploads this false information each month after discharge, or just fails to update and correct previous information. Unlike other bankruptcy attorneys, we make sure all the credit bureaus are notified of your Bankruptcy Filing. Likewise, we make sure all the credit bureaus are aware of the Bankruptcy Discharge. Finally, we provide dispute and verification letters for all three credit bureaus. These 3 separate and individual notices sent to all the credit bureaus trigger the laws under the Fair Credit Report Act (FCRA) which then require communications to take place between the credit bureaus and your creditors to make sure all accounts are reporting a $0.00 balance and “included in bankruptcy.”
If anything else is then reported, we can go after the offending creditor. Ca Civ Code 1785.25(a) prohibits creditors from reporting “incomplete or inaccurate” information subjecting them to actual damages, punitive damages up to $5,000 per violation, pain and suffering, attorney fees and costs, and injunctive relief per Ca Civ Code 1785.31. Generally, the end result is usually settlement which provides for our attorney fees, paying you compensation, and deleting the false information. But depending upon the circumstances, the lawsuit could be huge. For example, in September, 2007, over a million dollars was awarded against Wells Fargo for false reporting!
Since its big business to leave false information on credit reports in the hopes that the debt might be paid to repair credit, refinance a home, or buy a car, we frequently see false credit reports. What’s worse is that despite all the lawsuits we bring against creditors for this illegal conduct, they still continue. This is because it still remains more profitable to pay out claims which is only a small fraction of all the money they are making from the false reporting.
So if you find anything on your credit report that is not reporting $0.00 balance and “included in bankruptcy,” please bring that to our attention. Generally you will receive an updated credit report as a result of our services about a month after you receive discharge. We strongly also recommend that you get a copy of your credit report 6 months after discharge, since in many cases, the creditor only temporarily complies with the laws, but later reports the false information after you think it was correct. Remember, reporting is done monthly, so its advisable to check your credit at least twice a year. You can do so either by us pulling your credit for a fee or through annualcreditreport.com.
Doan Law answers to your chapter 7 and 13 bankruptcy questions. Meet with our expert attorney at any of our San Diego offices call (760) 450-3333.
PURSUANT TO THE NEW LAWS, WE MUST DISCLOSE THAT WE ARE A DESIGNATED DEBT RELIEF AGENCY UNDER 11 U.S.C. ß528. WE HAVE SUCCESSFULLY ASSISTED TENS OF THOUSANDS OF SOUTHERN CALIFORNIANS IN FILING BANKRUPTCY, DISCHARGING BILLIONS OF DOLLARS, AND WILL CONTINUE TO DO SO UNDER THE LAWS.