Rebuilding Your Credit Score

You just filed Bankruptcy, which means your credit score just took approximately 150 point credit hit. So how do you bounce back?

It’s a double-edged sword of post-bankruptcy life: mismanaging credit may have gotten you into trouble (or just magnified other problems), but you have to get credit to rebuild your financial life.  

After your bankruptcy has been discharged, you need to re-establish good credit, right away for a Chapter 7 or after reorganization for a Chapter 13. The rule of thumb: there are no rules. How fast you build back your credit will depend on a lot of factors that vary widely.

It also depends on what resources you have. Obviously, if you have a high-dollar income, you have an edge. If you managed to hang onto your house, paying your mortgage on time will improve your credit report. (Many apartments don't report to credit bureaus, so those payments will keep a roof over your head but won't help rebuild your credit)

Ironically, people who file a Chapter 7 may have an easier time re-establishing credit.  While you’re in a Chapter 13 (reorganization) your options are somewhat limited in terms of credit.  When the discharge is complete you can start rebuilding your credit while someone who went through a Chapter 7 at the same time is already well on his way to repairing his credit.

Don't Jump Back Into Debt After bankruptcy

To make sure you have enough money left over to rebuild, you'll want to keep an eagle eye on your "must have" expenses -- the shelter costs, food, utilities, insurance, child care  that form your essential bills. After losing so much and living without for so long, it would be easy to rush into commitments that you can't really afford in your efforts to restore some normalcy to your life. Resist the temptation. Keep those "must haves" under 50% of your after-tax income. 
 If you can delay a purchase for a few months with no serious consequences -- for example, clothing or dining out -- it's not a must-have. If you're contractually obligated to pay something (a credit card minimum, child support or a cell phone bill), it's a must-have, at least for now.
Now that you have just filed Bankruptcy in Utah you are ideal candidate for credit cards, car loans etc. Be careful, the process was not fun the first time, don't put your self back in the same position.  
Be smart, make a plan, budget. 

Why Does Marketing Win Over Services?

I think it would be fair to say that Lincoln Law probably puts the most money into marketing than any other bankruptcy law firm. With all the billboards, direct mail, website, phone book, etc, their name has become recognizable. They do a great job dumping money into marketing.  However when you come into the office they do not continue the same type of service to match the money put into marketing. The attorney in the office is very short, uncaring, and to the client.He does not know anything about bankruptcy, but is very quick to push people into filing for bankruptcy.
So why is this law office so successful? Why does the marketing win? Why do people retain an attorney that is too good to meet with them?
Is it that people at too lazy and stressed out about their finances to do research to find a good attorney?  

Why Have An Attorney

Is it worth having an attorney for file bankruptcy? Yes, if you have secured debt (an auto loan, a mortgage, etc,) it is nice to have an attorney because some creditors will not allow you to keep the collateral unless you have an attorney.
In order to keep your collateral after bankruptcy you have to sign a reaffirmation agreement. Some creditors will only allow you to sign a reaffirmation agreement if you have an attorney representing you.
Lincoln Law will no longer sign any reaffirmation agreement, for anyone, no matter what the collateral is, unless you are willing to pay an additional $400-$600. This means if you have a car that you want to keep, even if you are current on it, if you go through Lincoln Law, you will most likely lose it.
With this being said, there is no reason to have an attorney if you are looking at going with Lincoln Law. Go somewhere else. Even if they do not have as much marketing as Lincoln Law, there is a good chance they will be better than Andrew Gustafson.

Is Bankruptcy Right For You?

 The short answer to the question of whether or not bankruptcy is right for you is, are you able to function and make ends meet without selling or cashing hard earned assets and investments?  Sometimes putting bankruptcy off with the hope that things will take a turn for the better puts you in a worse situation.  Obviously, there are times when things will turn around and you’ll be able to get back on your feet on your own, but if the process of getting back on your feet results in driving up credit card debt, going without a necessity such as food or clothing for long periods of time, cashing out pensions or retirement plans, or selling assets, you’re likely better off filing bankruptcy and getting on your feet without losing everything and destroying your credit.

However if you were to contact Lincoln Law, you may experience a different result. The new attorney at Lincoln Law, does not care about you, he care about him and only him. If you have money he wants it. So if you were to ask "is bankruptcy right for me", he would always tell you "yes". Whither you have $85,000 of equity in your home, or  have nothing, he does not care. At Lincoln Law, they no longer care about you, remember Robert Payne is no longer employed at Lincoln Law.

Under New Management

That is right, Robert Payne is no longer with Lincoln Law. His so called partner has taken over. You will no longer see the friendly face of Robert Payne. You will now find Andrew Gustafson. 
Let me tell you a little bit about the changes. In the past Lincoln Law cared about the individual, Lincoln Law wanted to help. They wanted to help you make a change for the better, and would only do it if you were ready to make that change. 
Under new management Lincoln Law can be compared to a used car dealership, or a slaughter house. Lincoln Law now pushes you through, like you are cattle. They do not care about the individual, they only care about numbers, and taking your money NOW.