admin

About admin

This author has not yet filled in any details.
So far admin has created 494 blog entries.

Increase in Bankruptcy Filings Among Retirees

It is rather a sad state of affairs that Los Angeles is one of the cities that has an increase in the number of bankruptcy filings from the citizens who are above 55 years of age. This number has only doubled since 1994. Despite the need to rest after years of employment, the country witnesses this stupendous rise of close to twenty percent of the total bankruptcy filings to be of the retirees. But professionals say that it isn’t surprising – the failure of the individuals (close to 32%) in setting aside a retirement amount is the major [...]

2023-03-13T09:03:09+00:00
Read More

Criminalizing Private Debts

There are criminal proceedings on defaulters on the debts that they owe to creditors. Let’s take a scenario where the debtor has fallen sick and has missed out on the payments that he/ she regularly makes. The notices about missed payments have just been ignored since the debtor is away on treatment. The piled up debt now invites court hearings – the intimations of these too have not been attended to and this eventually turns out to issuing of warrants for the arrest of the debtor for the failed payments. This is not a surreal scenario and can [...]

2023-03-07T09:43:28+00:00
Read More

Avoid a Second Bankruptcy

There is no second opinion to the fact that it is easy to fall back into debts even if you have had a good financial restart using a Chapter 7 bankruptcy process. Same is the case with debtors who have successfully paid off their creditors using an effective Chapter 13 reorganization plan. Statistics reveal that 16% of the bankruptcy filings are repeat ones and 8% of the filers are the ones who have declared bankruptcy earlier. Imagine the ordeal that one goes through in the bankruptcy process! Hence it is advised that a second time declaring / filing [...]

2023-03-13T09:49:25+00:00
Read More

Rejection of Bankruptcy by the Supreme Court

It is interesting to note that one of the appeals related to a Chapter 13 bankruptcy has been rejected by the Supreme Court. This instills a sense of doubt among debtors regarding the case and why the rejection was approved by the court. Let’s understand the case in detail: The debtor associated with the case had filed for personal bankruptcy under Chapter 13. As per the norms of this Chapter, he had proposed a repayment plan which he eventually modified for several times in a span of two years. The final proposal that the debtor submitted indicated that [...]

2019-06-21T11:29:49+00:00
Read More

What is Corporate Bankruptcy?

The Security and Exchange Commission may emphasize a lot about the principles of Corporate Bankruptcy for the benefit of the people in the states of California and Texas. A company or firm will be out of business completely if it files for Chapter 7 bankruptcy. In this scenario, the investors of this company will also lose their money. The only parties who can get some value could be the people who hold bonds with such companies. But it solely depends on the priority of the corporate companies’ debts and the value of assets that is available for the [...]

2023-01-12T08:59:10+00:00
Read More

Will Filing for Bankruptcy Get Rid of Your Medical Debt?

Medical debt is one of the most common debt which the American citizens face today. In fact, you will be surprised to know that approximately 72 million Americans are struggling to pay off their medical debt. This actually means, more than 40% of the working citizens are struggling with medical debts today! Of course, there are multiple reasons why people fall in a debt, but surprisingly, medical debts is one of the most common one so far. In fact, as per the statistics and reports, the millennials are the one who are falling under the medical debt faster [...]

2023-01-12T08:10:32+00:00
Read More

What Effect does California State Court Judgement have on a Debt during Bankruptcy Discharge?

Bankruptcy is one of the preferred ways to get your spiraling debts discharged so that you get a clean slate to start your life afresh. Though usually court rulings or judgment are not enough on their own to make a debt not dischargeable, yet sometimes they may make it difficult or impossible in rare cases too. Though a majority of the debts accumulated by a person get discharged during bankruptcy, it is important to note that certain debts cannot be legally written off. Those debts which cannot be discharged are categorized as: Non-Dischargeable- The creditor doesn’t object to [...]

2021-12-07T09:16:39+00:00
Read More

Preference Challenge – Can a Bankruptcy Trustee Prevent or Defend it?

Bankruptcy cases can be simple or complex. Thus it is always advised to hire a bankruptcy lawyer to deal with the nuances of the case and get you the benefit of a fresh start. One of the major challenges of a bankruptcy case is having to deal with the trustee’s preference challenge. A majority of the cases, however, do not involve preference problem as they can be easily avoided, defended or circumnavigated. However, it is important to know and understand what bankruptcy trustee’s preferences are so that you and your legal professional are well prepared to handle the [...]

2023-01-12T11:11:33+00:00
Read More

Possibility of Bankruptcy Relief – Marijuana Businesses?

It is widely known that California has expanded its legitimacy to the California Marijuana business. Hence the question pops up whether the Marijuana or other licensed cannabis businesses will enjoy equal/ same rights under federal law as in the case of other California businesses. That’s is the not case and reading through the below will explain in detail the background of these businesses and how they are restricted from declaring bankruptcy in their businesses. Cannabis businesses and the California Law Since 1996, possession of a small amount of marijuana has been decriminalized. Also, medical marijuana has been legalized [...]

2019-06-28T12:39:17+00:00
Read More

Paying off debts Vs Bankruptcy

Most debtors see paying off debts as a moral duty compared to filing for bankruptcy. When you contact a financial professional, they do cover the aspects of spending within your income range along with simultaneously building a safety fund. Most citizens find themselves in circumstances where they keep paying off their debts and ignore putting aside a part of their money for retirement. This negligence ends up costing more, not only for the individual but also for society at large owing to the minimal or zero investment from the debtor towards the economy. Solution – Chapter 7 bankruptcy [...]

2023-01-12T11:12:44+00:00
Read More
Load More Posts

Recovery Law Group Logo

888-297-6203

Headquarters

309 W 11th Street,
Anderson, IN 46016
310-997-0471
Clients: customerservice@recoverylawgroup.com
Attorneys / Trustees and Court Officials: info@recoverylawgroup.com

PAID ATTORNEY ADVERTISEMENT: Wajda & Associates is a law firm. This website is an advertisement. It is not a lawyer referral service or prepaid legal services plan. Each of the lawyers on this site are either Managers, Members, Partners, Limited Partners or staff attorneys. An attorney responsible for the content of this Site is Nicholas Wajda, APC. licensed in California, Texas, and Indiana with offices at 309 W 11th Street Anderson, IN 46016. To see the attorney in your area who is responsible for this advertisement, please  Click here.  Prior results do not guarantee a similar outcome.
We help people file bankruptcy petitions to obtain relief under the bankruptcy code.