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Who Can File for Chapter 13 Bankruptcy?

Call: 888-297-6203 When you realize that there is no way out of debts, bankruptcy might be the logical conclusion. Though, people prefer Chapter 7, very few manage to qualify for it. The other option for people is filing for bankruptcy under Chapter 13. However, lawyers of Dallas based bankruptcy law firm Recovery Law Group, say that it is essential that you qualify for the same. The eligibility criteria for Chapter 13 bankruptcy include: Only individuals and not business entities can file for Chapter 13 bankruptcy. If you had previously filed for a Chapter 13 or Chapter 7 bankruptcy [...]

2019-09-12T11:50:50+00:00
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Bankruptcy – A Great Way to Improve Your Credit Score

Call: 888-297-6203 The credit score of an individual is a point of concern for them. Many people have tried their level best to improve their credit score but in vain. You will be surprised to find that bankruptcy can be of aid to you in such times. Dallas based bankruptcy law firm Recovery Law Group lawyers enlighten that when you have hit rock bottom in terms of credit score, the only place to go is up. Bankruptcy wipes your slate clean offering you a fresh financial start. However, before deciding to file for bankruptcy, it is important that [...]

2021-12-07T04:54:50+00:00
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How to Improve Your Credit After Bankruptcy Filing?

Call: 888-297-6203 Though bankruptcy is dreaded, it might be the best thing to happen to you. Many times, people need a reality check to get hold of their finances. Bankruptcy wakes them up like anything and makes them more responsible financially. Though it affects your credit history and can tank your credit scores, bankruptcy stays on your credit report for a maximum duration of ten years. Credit building efforts can start from the day you get your bankruptcy discharge which is 3-6 months from the filing date in case of Chapter 7 bankruptcy and 3-5 years in case [...]

2019-09-12T10:56:34+00:00
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Considering Bankruptcy To Get Rid of Debts? Here are Things You Should Remember

Call: 888-297-6203 If you have been struggling with financial problems for long, bankruptcy can be the way out of the financial mess. It might ideally not be your chosen way to rebuild credit, but it sure does give you a fresh economic start which you deserve. However, due to the numerous myths associated with the bankruptcy filing, people are often worried if it is the best way to go ahead. To clear doubts, lawyers of Los Angeles based bankruptcy law firm Recovery Law Group point out the circumstances where bankruptcy can be beneficial: You are facing repossession or [...]

2021-12-07T04:57:49+00:00
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Homeowner’s Equity in Chapter 7

Call: 888-297-6203 Filing for bankruptcy is a tough decision for people. This is like admitting that they have been unable to manage their finances in a responsible way. However, once you have run out of options to get rid of your debts, filing for bankruptcy might be ideal. Individual debtors can choose from Chapter 7 or Chapter 13 bankruptcy, though most prefer the former over latter. It is important to remember that while getting rid of debts, you might end up losing some of your assets when you file for Chapter 7 bankruptcy. As per lawyers of Los [...]

2023-01-12T10:24:42+00:00
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Is Chapter 7 Bankruptcy Your Best Bet to Get Rid of Debts?

Call: 888-297-6203 Money comes, money goes. The saying best describes the monetary situation of most people. There is no dearth of individuals who are struggling to make ends meet. You will hardly find someone who has not faced money problems in their life. If you are currently going through a bad financial phase and have accumulated a large amount of debt, then, bankruptcy might be a way out. However, there are various chapters of bankruptcy and it might be a bit too much for a layman to understand which chapter will work best for them. According to Dallas [...]

2019-09-10T13:23:43+00:00
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Why Do People File for Chapter 7 Bankruptcy?

Call: 888-297-6203 Owing someone something is one of the worst things. Nobody likes to be reminded of this fact. Being in debt is all this and more since the creditors are always at your door asking for their dues. For people who have amassed a large debt, a bankruptcy filing is probably the best way out. Individual debtors have the option of filing under Chapter 7 or Chapter 13 bankruptcy; however, Chapter 7 is probably the preferred choice for almost all debtors. According to Dallas based bankruptcy law firm Recovery Law Group, the top reasons why people choose [...]

2019-09-10T13:23:32+00:00
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Drawbacks of Chapter 7 Bankruptcy

Call: 888-297-6203 When it comes to bankruptcy, most people prefer Chapter 7, as it lets you get rid of all your debts without losing any assets. Moreover, the discharge is also guaranteed within a relatively smaller time frame (3-6 months) compared to Chapter 13 bankruptcy (3-5 years). However, despite the numerous benefits associated with it, it is important to weigh in the losses due to this bankruptcy chapter before deciding to pursue it further. Los Angeles based bankruptcy law firm Recovery Law Group lawyers advise that being aware of the pros and cons is important to avoid disappointment later [...]

2019-09-10T13:23:22+00:00
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Bankruptcy: Facts Vs. Fiction

Call: 888-297-6203 Bankruptcy has earned a bad name among the general population. People often want to avoid someone who has filed for bankruptcy. However, it will be astonishing to know that bankruptcy is more common than you would like to think or admit. In fact, bankruptcy is one of the best ways to get rid of a huge amount of debts and wipe your financial slate clean. According to Dallas based bankruptcy law firm Recovery Law Group, people fear bankruptcy because of the various myths surrounding it. Sifting fact from fiction is important so that people are aware [...]

2019-09-10T13:23:12+00:00
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Which Financial Situations Could Warrant a Chapter 7 Bankruptcy?

Call: 888-297-6203 Managing finances is a tricky affair. People often find it difficult to keep their finances above board. However, there can come a time, when you might have to consider bankruptcy as an option. Individuals can opt for Chapter 7 or Chapter 13 bankruptcy; however, the former is preferred. According to Los Angeles based bankruptcy law firm Recovery Law Group, the situations where Chapter 7 bankruptcy is the best way out include: Majority of your debts are due to excessive use of credit cards. Heavy reliance on credit cards can lead to an excessive amount of loans [...]

2019-09-10T11:53:18+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.