manhattan lawyer: Bankruptcy

2008-04-28 11:59:26

( Legal )



Lawyers nyc or lawyers manhattan have to deal with many types of legal problems. But what if your problem is bankruptcy – what would a good manhattan lawyer bankruptcy focused firm tell you to do?

Here is some information that a bankruptcy manhattan lawyer might give you:

Avoid Credit Counseling and Credit Repair Scams
Over a million people in the nation file for bankruptcy every year. Household debt is a record high. What are people doing to solve their problems? Instead of going to a manhattan lawyer bankruptcy firm they are soliciting the help of credit repair as well as credit counseling companies. Although some of these are legitimate and do offer the consumer help, there has been an increase in unscrupulous companies who simply want to take advantage of your desperation. So it’s better to seek the help of a manhattan lawyer who can protect you from their unscrupulous practices and advise you on the wisest course of action.

Scams

Credit Repair
These companies appear to you the consumer if you have a poor credit history. They promise to clear up your credit reports for a fee. The unsuspecting consumer hopes in this way to be able to forget:
- that car loan
- that insurance
- that home mortgage
- or even that job.
But the truth of the matter? After you have paid them hundreds or thousands in up-front fees, they actually don’t do anything to improve your credit reports and often even vanish with your money.

What are the red flags alerting you to this type of scam?
- You are asked to pay for services before they are provided.
- You aren’t informed about your legal rights and what you can do for yourself – for free.
- They suggest that you shouldn’t make contact with a credit bureau directly.
- It is even suggested that you should create a “new” credit report. Instead of using your social security number they tell you to use an Employer Identification Number.
- You are advised to dispute the information in your credit report or do something illegal like creating a different credit identity. But be warned – if you follow their advice and commit fraud – you will be prosecuted.

Credit Counseling
These are similar to credit repair scams. Just when you are feeling overwhelmed they promise you a clean slate for an up-front fee. They promise to convince your creditors to charge lower interest rates and fees and to accept lower payments. But usually they are the only ones in a better financial position in the end – and you are left with less money and even more debt.


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