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Avoid Making These Mistakes During Bankruptcy Filing

A common man does not always think of preparing for the worst. Therefore, many people are often at their wit's end when difficult financial situation plagues them. Though bankruptcy is the best option to get rid of unsurmountable debts, Dallas based bankruptcy law firm https://bankruptcy.recoverylawgroup.com/ confirm people are often unaware of what they should or shouldn’t do when filing for bankruptcy. Having an adept bankruptcy attorney by your side can be an asset during tough financial times. Contact 888-297-6023and consult with the best legal minds to know what to do prior to a bankruptcy filing. It is very [...]

2023-03-13T08:09:47+00:00
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Can the Chapter 13 Bankruptcy Plan be Extended Beyond Five Years?

People going through a bad financial phase often opt for bankruptcy to get rid of their debts. Individuals can either opt to liquidate their non-exempt property to pay their creditors under Chapter 7 bankruptcy or choose to repay their loans over a period of 3-5 years in Chapter 13 bankruptcy. However, if some claims persist even after the repayment plan is over, does the individual have the option of extending the repayment plan? According to Dallas based bankruptcy law firm Recovery Law Group, such a provision is not possible. However, bankruptcy lawyers at 888-297-6023 inform that you can [...]

2021-12-07T07:14:56+00:00
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The 10th Circuit rules

The 10th circuit court rules reprimand that the tax debt may not be exempted for the client under Chapter 7 if the income tax return is filed late. Income tax return debt can be discharged under chapter 7. However, it needs to fall under certain criteria. The income tax returns are a mandatory procedure that citizens of the USA need to follow every year. Tax debts can be huge, and the clients may seek discharge. You can visit Recovery Law Group for good advice. The income tax return debt can be discharged under Chapter 7 when- The tax [...]

2023-01-12T09:20:52+00:00
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Clause For Refinancing a Loan Agreement That Was Discharged in Bankruptcy

When a person applies for bankruptcy under chapter 7, in Los Angeles, most debts are cleared. The debtor is no longer obliged to the creditors. However, a debtor can keep a loan agreement if he/she wills to save that particular property. Usually, all the property and valuables are sold to clear the debt under chapter 7. If the debtor wants to retain any property, be it their house or car; they can continue to follow the loan agreement towards that house to the creditor. For more advice do log in to Recovery Law Group. Reaffirmation The process of [...]

2019-08-07T13:10:38+00:00
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Status of Pets in Chapter 7 Bankruptcy

People in Los Angeles love to keep pets like horses and dogs. When they need to file bankruptcy, the fear of losing them in the procedure is quite high. Most of them shy off from applying for chapter 7 bankruptcy since they do not want to lose their pets. They love their pets and treat them like family members. However, the court needs to investigate many things before allowing pets to be exempted. Applicants looking for some valuable advice to keep their pets must visit- Recovery Law Group. How can an applicant exempt their pets in a bankruptcy [...]

2019-08-07T11:32:31+00:00
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Thinking about converting Chapter 13 to Chapter 7 before the term ends?

A recent court case has provided for good news for many Chapter 13 filers. There can be many scenarios wherein, Chapter 13 payment plan might just not go as planned. The filer might not be in exceptional hardship to get a ‘hardship wave off’ but certainly paying off dues as per the payment plan can become extremely challenging. Converting Chapter 13 bankruptcy to Chapter 7 is a great option for such bankruptcy filers. It was not really ‘on’ but after a recent Supreme Court hearing, it has become more realistic now. To learn more about some latest judgments [...]

2023-03-13T08:46:41+00:00
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Status of Co-Owned Homes in Bankruptcy

There is some shared inheritance by siblings who have equal rights on that property. While the land can be measured and equally divided, the inheritance of the house offers no such luck. It cannot be divided, albeit it can be sold, and the money can be equally shared. Some people are emotionally close to their inherited house and stay in them, while other siblings may move on. What happens when the other sibling files a chapter 7 bankruptcy case? For consultation do log in to Recovery Law Group. The property comes under scrutiny and needs to be sold [...]

2019-08-07T11:34:36+00:00
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The Bankruptcy Court and Social Media

Can the bankruptcy court interfere with social media space? Well, the answer is certainly yes but not if they are personal social media accounts but definitely if they are social media accounts used for business purposes. This question has popped up after a recent judgment by a Texas bankruptcy court. If any social media platform like Twitter, Instagram, Facebook, etc., are used for promoting business, they can be included in the bankruptcy estate. Not only that, but the bankruptcy court may also order the bankruptcy filer to submit the password of these social media accounts. The same level [...]

2019-08-07T11:31:52+00:00
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What Are the Possible Ways to Settle a Credit Card Judgment?

There are enough cases of credit card debts in Los Angeles. People have a surmounting amount to be paid as credit card loans. Most of these credit card loans are unsecured loans; which means the creditors cannot seize credit card owners’ assets if he/she fails to pay the loans. However, the creditor can take rescue and file a case against the debtor. Once he gets a judgment against the debtor, he can propel the debtor to respond in court and take steps to seize the debtor’s assets. For good advice on how to settle a credit card judgement, [...]

2023-03-13T09:36:15+00:00
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Chapter 11 or Chapter 13: What is Best For a Small Business?

Small businesses, when comes under acute pressure of financial liabilities, do not have many options with them. Filing for bankruptcy can be the only option if you had like to revive your small business or wrap up the same. Chapter 7 bankruptcy will lead to winding up of the small business while Chapter 11 or Chapter 13 (if qualified) can help you in keeping the business running. To learn more about Chapter 7 and its benefits, log on to https://bankruptcy.recoverylawgroup.com/. How does Chapter 11 or Chapter 13 help? The concept or logic used in Chapter 11 or Chapter [...]

2023-03-13T08:07:39+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.