It is easy enough to get in over your head with debt even when all parties involved are being honest and abiding by the law. When you look at the cost of rent, utilities, and healthcare, it is understandable to feel like big companies get away with fraud and extortion on a regular basis. For most Americans, the best-case scenario is to end up with a bank account balance of less than $100 at the end of the month while eschewing all splurges and making only the minimum payments on debts, but many of us cannot even afford to do that. A single fraudulent transaction on your account can send you into a state of financial crisis, so imagine how much worse things would be if fraudsters maxed out your credit cards or cleaned out your entire bank account. 

If you are wondering what to do after being a target of fraud, the simple answer is that you can file for bankruptcy protection, but that is an overly simple answer because everyone can file for bankruptcy protection.  There may be ways to bounce back from a phishing scam or other fraudulent attack on your finances without going through the stress and credit score damage of a bankruptcy case.  If you are facing a barrage of late fees and collection notices after falling victim to a financial crime, contact an Oakland lawsuits, collections, and creditor harassment lawyer.

How to Rebuild Your Finances After Identity Theft or Another Financial Crime

According to an old saying, the law favors the vigilant; the sooner you take action after realizing that someone has made unauthorized transactions with your account, the more likely you are to get the money back.  Contact your bank or credit card as soon as you see a charge that you did not make; they will probably refund it to you. If you have lost a lot of money because of a scam, contact the police and give them as much information as possible. It is sometimes possible for scammers to disappear into the ether, but if the people who scammed you get convicted of a financial crime, the court may order them to pay restitution.

All of this is cold comfort if you were living paycheck to paycheck even before fraudsters took a bite out of your meager budget.  What do you do about all the bills that keep piling up? If you only lost a few hundred dollars and your credit card company promised to refund it, you might contact your landlord, utility company, or other creditors and tell them that you are waiting for a refund on the fraudulent charges and that you will pay as soon as you receive it. If your finances were a wreck already and are even worse after the fraud, filing for bankruptcy might be the best solution. If it is any consolation, the bankruptcy court cannot liquidate assets that scammers already stole.

Contact the Law Office of Melanie Tavare About Bouncing Back From Financial Crime

A debt relief lawyer can help you get maximum debt relief after falling victim to fraud.  Contact the Law Office of Melanie Tavare in Oakland, California, or call (510)255-4646 for a case evaluation.