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The Workings of Chapter 13 Bankruptcy

The Workings of Chapter 13 Bankruptcy Chapter 7 and Chapter 13 bankruptcy are the most common ones which individuals file for getting rid of their debts. Depending on their financial condition, their assets, income, and debts, a suitable course of action is determined by a skilled bankruptcy attorney. In Chapter 13 bankruptcy, bankruptcy filer ends up paying some amount of debt while getting a discharge on others. According to Dallas based bankruptcy law firm Recovery Law Group, it is important to know what course of action is preferred by the client. Bankruptcy can help you and your family [...]

2019-08-29T12:57:59+00:00
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Ignoring These Foreclosure Myths is Essential

People who have been struggling with finances often are worried about losing their assets like a car or home to foreclosure. This is primarily because of the various myths associated with the foreclosure. According to Dallas based bankruptcy law firm Recovery Law Group,  separating fact from fiction can be quite difficult, unless you have experienced lawyers to handle your case. Some of the basic myths associated with foreclosure include: Bankruptcy cannot stop foreclosure One of the biggest advantages of filing for bankruptcy is undoubtedly the automatic stay provision that puts an end to all collection actions including foreclosure! [...]

2021-12-07T05:45:49+00:00
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The Means Test Calculator in Chapter 7 Bankruptcy

Chapter 7 or liquidation bankruptcy is preferred by most people since it enables people to get a discharge within a smaller time frame (3-6 months) compared to Chapter 13 bankruptcy (3-5 years). Moreover, with various exemptions available, people are often able to protect almost their entire equity in their assets and get away with paying little towards their debts before getting them discharged. However, the catch is that if you wish to file under Chapter 7 bankruptcy, you need to pass the means test. As per lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, the [...]

2019-08-29T09:27:22+00:00
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Is Chapter 7 Bankruptcy Deleted?

Filing for bankruptcy can be quite an emotional experience for people. It is difficult to admit that you have been unable to manage your finances in a proper fashion. What is worse is that bankruptcy becomes public record and is reflected on your credit history. This makes it difficult for people to obtain new credit at reasonable rates or even get a job. However, Los Angeles based bankruptcy law firm Recovery Law Group informs that bankruptcy records are deleted ten years from filing date in case of Chapter 7 and seven years from the filing date in case [...]

2019-08-29T09:27:09+00:00
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Is it Possible to Get Credit Card after Bankruptcy?

One of the ill effects of filing for bankruptcy is that it becomes public record and appears on your credit report. This makes it difficult for people who have recently got bankruptcy discharged to get any credit. According to Dallas based bankruptcy law firm Recovery Law Group, this is a major concern for most people. Though you might get credit, it will be at terms which will be outrightly ridiculous like high-interest rate, larger down payments (in case of a mortgage), etc. Unfortunately, you might have to wait for some time to qualify for a new credit card [...]

2021-12-07T05:48:07+00:00
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What is the Difference Between Default and Bankruptcy?

Default means not being able to fulfill an obligation, especially the monetary kind. When a person defaults on a credit account, it means they have been unable to repay as per their agreement. According to Dallas based bankruptcy law firm Recovery Law Group defaulting on a payment is usually the first step towards bankruptcy. This is so because unfortunately, defaulting adds up the interest as well as penalty on the already existing amount. Generally, people have a minimum of 2-3 credit cards. Simultaneous use of them results in a huge amount which needs to be paid every month to [...]

2019-08-29T09:26:38+00:00
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Need to File Bankruptcy a Second Time? Here’s an Overview of Both Chapters for Your Assistance

Financial problems can hit anyone anytime. However, there is no guarantee that despite your best efforts you might not hit a rough patch again. Many people are often confused that if they have opted for bankruptcy earlier to get rid of their debts, are they eligible to file for bankruptcy again? According to Dallas based bankruptcy law firm Recovery Law Group lawyers, if an individual has had a bankruptcy discharge previously, a certain time period is necessary before they can file for bankruptcy again. The various options available to people who have previously filed for bankruptcy are: If an [...]

2021-12-07T05:48:34+00:00
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Factors Which Help Attorney to Decide if Bankruptcy is the Best Option for You

When any person is finding it difficult to make ends meet and has a huge debt piling on, there are two options available for them; either opt for bankruptcy or for a debt repayment plan. People in difficult financial situations should make it a point to consult either a financial counselor or a bankruptcy attorney to find the best possible way to get out of their financial mess. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group , the various factors to consider to decide which option will work for the client include: Your [...]

2021-12-07T06:03:02+00:00
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Bankruptcy does not need to be Intimidating!

Financial troubles can hit anyone, anytime. The primary step is to acknowledge financial problems and take adequate steps necessary to protect yourself and your family from adverse effects. Bankruptcy, though often detested, is an essential way to find financial stability. However, many people find bankruptcy intimidating. According to Dallas based bankruptcy law firm Recovery Law Group, this is primarily because of the lack of information about its advantages. You can easily overcome financial difficulties by opting for a consult with bankruptcy lawyers at 888-297-6023. the basic steps of facing bankruptcy include: Hiring experienced bankruptcy attorney Bankruptcy can be [...]

2021-12-07T06:04:33+00:00
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Get Assistance for Social Security Disability Application and Appeals

Social security benefits are the rights of every individual in the U.S. who have worked for at least 10 years. As per Los Angeles based bankruptcy law firm Recovery Law Group, SSI (Social Security Income) and SSDI (Social Security Disability Insurance) are U.S. Federal association plans which help in providing financial aid to persons suffering from any disability which makes them unfit for work. Online assistance is available for people who wish to avail free disability benefit. Depending on your age, medical condition and work history, you can be eligible for Social Security Disability Insurance (SSDI) or Supplemental [...]

2021-12-07T06:05:14+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.