All You Need to Know About Chapter 13 Bankruptcy

Chapter 13 is a code which allows you to repay debts as per a payment plan over the next 36-60 months. The payment plan focuses on retaining assets and debt pay off from disposable income. Chapter 13 can be advantageous, but you need to know many things about the same. The in-depth details about Chapter 13 will be discussed shortly. Eligibility Chapter 13 bankruptcy has some eligibility criteria just like other criterions. Firstly, there is a debt threshold for secured and unsecured debt. You might want to know about the threshold at Recovery Law Group. If you exceed [...]


Your Reorganization Plan After Chapter 11 Bankruptcy

Chapter 11 bankruptcy, also known as reorganization bankruptcy, is exclusive for corporations, partnerships and individuals to work on their reorganization strategy in the midst of financial struggles. They work on reorganizing their finances and restructuring of their debts. Since this bankruptcy has no debt ceiling (different from Chapter 13 bankruptcy), it is much preferred by small and large businesses for the restructuring of their open debts. […]


Here’s What You Need to Know About Chapter 11 Bankruptcy

Chapter 11 bankruptcy is for businesses to get their debts reorganized and also gain enough financial stability so as to avoid any liquidation of their business assets. Though there could be scenarios in which we encounter individuals who qualify for Chapter 11 bankruptcy, this filing mostly involves the businesses. The features of Chapter 11 bankruptcy are as below: Chapter 11 bankruptcy allows the regular operation of the business that is undergoing the crisis and still works on ways towards repaying the creditors in the business This type of filing can be voluntarily initiated by the debtor. In a [...]


Evading Payments – Bankruptcy Fraud on the Rise

Though the bulk of the bankruptcy claims that have been filed in the last year in the United States have been for real reasons of overpowering claims, There has been a little number of fraud cases of bankruptcy too. Amongst the honest and hardworking Americans, There is certainly a subset of people who have put up credit card debts as they have withdrawn payments. There are also fraudsters who hide their individual assets so as to keep them from lenders and also use bankruptcy to hide their different types of fraud that they use to achieve a personal [...]


How to Recover your Finances After Bankruptcy?

Bankruptcy is a hard chapter in an individual’s life, however, a very long road lies ahead after your case wraps up. Any and all financial decisions you make after the bankruptcy case is over are going to be equally important. For regaining control of your finance, it is important that you consult bankruptcy attorneys such as those available at Los Angeles based law firm Recovery Law Group. Tips to Rebuild Credit after Bankruptcy Case The most important point to take care of, once you are through with your bankruptcy case is to clear your financial dues and start [...]


How Much Debt is Too Much For Chapter 7 Bankruptcy?

Debt does not need any reason to pile up. One missed payment followed by another and the debt just keeps piling without your knowledge. Having too much debt is a scary thing, but sometimes, one might just land there without choice. Bankruptcy, however, can help you kickstart your life once more instead of facing undue harassment from the lenders and dissolving all your assets, it is one of the better options. Most people use bankruptcy to start fresh amongst a pile of debt that probably would not be released even after several years of hardship. How much debt [...]


Chapter 7 Bankruptcy and Liens

Lien can make bankruptcy and its procedures complicated. Lien could be defined as a right to the lender to take over the specified asset in case the debtor fails to repay his/her debt. The right of lien for the lender or a creditor is valid even for Chapter 7 bankruptcy. Hence, it cannot be released or skipped even if you file bankruptcy under Chapter 7. No lender gives money with a motive to fight out battles in court or to seek different modes for extracting his due. Every lender is an investor and he/she looks for security. The [...]


What Factors Should You Consider Before Choosing Bankruptcy Attorney in Los Angeles?

More often than not, bankruptcy is extremely frustrating. People are often at their wit’s end when they choose bankruptcy as an option. Choosing the best bankruptcy attorney or a law firm that has enough experience in dealing with similar cases can be an asset to your case. Since bankruptcy can have long term consequences, having an in adept legal counsel can help the case a lot. There is no dearth of bankruptcy lawyers in the city, however, it is often difficult to choose one from them. Having some tips available to help you narrow down possibilities can be [...]


Credit Cards, Bankruptcy, and Court Wars

Credit card is the most common unsecured debt in today’s world. As per one of the reports published during late 2017, an average credit card holder could have a yearly debt of $18,000-20,000. The interest rate of credit cards is really high, and it could even breach 30% in certain scenarios. The bankruptcy laws however beneficially help in scrapping the credit card dues as they are part of unsecured dues while you are struggling to keep up with basic needs and priority debts. But it might not be as easy as said, the lender (credit card company) and [...]


5 Suggestions to Mountain Climbing out from beneath Credit Card Debt

We're a rustic that is drowning in credit card debt. credit score card balances inside the America totaled $420.22 billion in overdue 2018. The common American family with credit card debt has approximately $6,9291 in revolving balances, which might be balances carried from one month to the next. it could appear not possible to get out from under debt that has mounted that high however consolidating your credit cards for a decrease charge may be a start. Credit Card Transfers Once people have a credit score card, they frequently do not take a look at once more for [...]

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