CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Bankruptcy Filers are at Risk for Scams: What You Can Do to Protect Yourself Post-Filing

Beware of ScamsIt’s a sad fact that no matter who you are or what your struggles in life include, there are people out there looking to prey on you. Everyone is vulnerable in one way or another and being someone who has filed for bankruptcy is no exception.

Financial predators want to take advantage of you and make money off your misfortune. Here’s what you can do to protect yourself and avoid scams after you’ve filed for bankruptcy.

Most people enter bankruptcy with the understanding it will be a while before they can borrow money again. However, it might not be as long as you think.

People who have recently emerged from Chapter 7 bankruptcy often find their mailboxes and inboxes filled with offers for credit cards. And in many cases, these offers are legitimate. The credit offered might not be under the best of terms, but they are an option to help you rebuilt your credit history.

Many of the offers you’ll receive aren’t scams, but some are.

Unscrupulous lenders know you are desperate and know you might still struggle to manage your finances, even though you’ve been through credit counseling and debtor’s education as part of your bankruptcy. They want to take advantage of your weaknesses and your current situation.

The best thing you can do is to know what you look out for. If possible, try to avoid jumping back into the credit game immediately after bankruptcy. Take your time and research your options. Eventually, you’ll want to re-establish your credit with a card, but you don’t need to do so immediately

How Can You Recognize a Lending Scam?

There are two types of credit card situations you’ll want to avoid, if possible.

The first is not a scam, it’s just undesirable. High-interest cards might have played a role in your needing to file for bankruptcy in the first place and you’ll want to avoid them now that you’ve emerged from bankruptcy. They are legitimate cards, but they aren’t doing you any favors.

The second type of credit card situation is a scam. Sometimes these credit agreements go so far as to be downright illegal.

USA.gov provides this list of credit card scams and what you can do to avoid them.

In addition to high interest rates, you’ll also want to look out for skewed repayment terms. This might be an offer that seems appealing at first, but upon further review becomes very unappealing after the introductory period ends.

Aggressive Credit Card Lender Harassment

Another sign of a scam is the aggressive nature with which the credit card lender pursues you. We all get credit card offers now and again, but it usually ends with a single piece of mail or one phone call.

Scammers tend to be relentless and they keep contacting you and making you promises that seem too good to be true. They know you aren’t exactly comfortable in your current situation and they want to be your saving grace. This is usually a sign of a scam and should be avoided at all costs.

Bankruptcy Filing

Filing for bankruptcy and the time after can be frightening. It’s normal to feel anxious and be unsure of what the future holds. The trick to emerging from bankruptcy successfully is to avoid getting into anything that would cause your financial problems to flare up again.

If you have questions about lending scams or you are considering bankruptcy and want to know what to expect, we can help. Contact the Law Office of Robert M. Geller at 813.254.5696 to learn more.

Archive

Tampa Bankruptcy Law Blog

How Will Filing for Bankruptcy Affect My Credit?

Will Bankruptcy Affect My Credit? Not paying your bills affects your credit negatively. And yet problems with credit are one...
Read More

Behind or In Default on Your Student Loan? Here’s What You Should Know

Student Loan Default If you’ve fallen behind on student loan payments or your student loans are in default, you aren’t...
Read More

Will Bankrutcy Affect My Job? Learn How Filing Affects You in the Workplace

Will Bankruptcy Affect My Job? Filing for bankruptcy raises many considerations. One of the most important is whether or not...
Read More

Can Bankruptcy Help Me If I’m Behind on Child Support?

Bankruptcy and Child Support Bankruptcy can help you with a lot of things. It can help you stop calls from...
Read More

Can You File for Bankruptcy When You’re Unemployed?

Bankruptcy and Unemployment Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because...
Read More

Bankruptcy and Eviction History

Eviction With the rate of evictions on the rise in recent months and the expectations that eviction numbers will grow,...
Read More

What to Expect Once You’ve Decided to File Bankruptcy from Home

File Bankruptcy from Home There are a few things that happen when you file bankruptcy from home. An automatic stay...
Read More

Will Filing for Bankruptcy Affect My Job Search? What You Need to Know about Unemployment and Bankruptcy

Unemployment and Bankruptcy Searching for a job when you are faced with a dire financial situation is difficult. If you’ve...
Read More

Will I Need to Go to Court If I File for Bankruptcy?

File for Bankruptcy from Home One of the most intimidating aspects of filing for bankruptcy is meeting in person with...
Read More

COVID-19 and Debt – 5 Ways the Pandemic is Leading More People to Bankruptcy

COVID-19 Debt If you’re considering bankruptcy you aren’t alone. The last few months of 2020 have brought a great deal...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo comodo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions