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26

Apr 2018

After Bankruptcy, check your credit score

Posted by / in After Bankruptcy, Weekly Posts /

After Bankruptcy, check your credit score

Most people have a credit score of about 620 a couple months after bankruptcy.  That’s from a study by the Philadelphia Federal Reserve Bank, a few years ago. (I saved the complete study here.)  And here’s the full size Chart that shows how scores recover.

Credit score bounces back after filing bankruptcy. From Federal Reserve.

Study shows how credit score bounces back after filing bankruptcy.

 

What’s your after bankruptcy credit score?  One free place to check is Lendingtree. Here.    

Now I can’t guarantee that your score will be 620.  But, if I handled your bankruptcy case and your score is NOT what it should be, follow these instructions and send me your credit report.  We’ll see if there’s something hitting your credit that shouldn’t be there.  

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26

Apr 2018

For your bankruptcy hearing, you’ll need your Social Security Card

Posted by / in Weekly Posts /

Everyone is required to bring their social security card to their bankruptcy hearing. And a lot of people have lost theirs over the years.
 
Virginia was recently added to the states where you can use your drivers license and apply on the internet to get a replacement card sent to you.
 
You don’t have to go to the Social Security Office; you can now do it on the internet.
Here’s the link.

https://www.ssa.gov/ssnumber/

 

 

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15

Apr 2018

Scott Tucker King of Indian Tribe Payday Loans Fined a Billion and Convicted

Posted by / in Weekly Posts /

As a bankruptcy lawyer, I see many hard working people who fall prey to these internet payday loans. And they are afraid if they stop paying the loans that somehow the consumer had done something illegal.  So I’m happy to have proof of what I tell them. In most cases it’s the internet payday loan company are the ones who have broken the law.

One common scam was claiming that the internet payday loans did not have to follow state law, because the payday loans were made by Indian Tribes.  Scott Tucker, who set up most of those Indian Tribe payday loans, got fined a billion dollars (good luck actually collecting that) and sentenced to 16 years in Federal prison.

Scott Tucker, king of the internet payday loan outfits, also was a professional race car driver. He won’t be able to do that during his 16 year prison sentence.

Last October the Federal Trade Commission obtained a federal court judgment against Tucker for $1.266 billion dollars. 

Next, Scott Tucker was convicted of 14 federal felonies in his internet payday loan empire. 

Then he was sentenced to 16 years, 8 months. 

 

NORTHERN VIRGINIA BANKRUPTCY LAW OFFICES