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Do You Know Which Federal Benefits are exempted from Garnishments?

Bankruptcy can be quite intimidating. There is a pressure of being unable to cope up with the increasing demands of the debt collectors apart from the social stigma attached to bankruptcy. In case you get sued by the debt collector for non-payment of dues, and the court holds the suit, you are at a huge risk. Your bank accounts and other sources of income (employers) might be used to help settle the debt to the creditors. Lawyers of Los Angeles based law firm Recovery Law Group explain that certain funds are the same from garnishments due to them [...]

2023-03-07T10:38:40+00:00
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Can Bankruptcy Help Eliminate Medical Bills?

Financial problems can arise due to many factors, one of which is huge medical bills. If non-payment of medical dues can cause economic issues for you, you might have to file for bankruptcy to save yourself from insurmountable debts. However, many times, clients feel guilty about filing for bankruptcy, probably due to the fact that they somehow were incapable of arranging for such an emergency which may lead to the feeling of incompetence. It is important to remember while taking a guilt trip; that this is something nobody asked for and therefore bankruptcy is not something one should [...]

2023-03-07T09:50:53+00:00
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Being Prepared For Your Meeting of Creditors

The meeting of creditors or a 341 hearing is a mandatory process conducted by the bankruptcy trustee when there is a filing of bankruptcy. During a filing of bankruptcy, the petitioner provides several documentations related to the situation including the petition and schedules. In the hearing process, the trustee gets the opportunity to ask the petitioner questions regarding the furnished information. The answers to these questions have to be answered under oath. If you are an individual who has filed bankruptcy, it is imperative that you have to be part of this meeting of creditors. Needless to say, [...]

2023-03-07T10:40:47+00:00
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Bankruptcy’s Impact on Credit Worthiness

Credit scores reflect on the financial history of an individual or a business and are meticulously built over time. When there are moments of financial crisis and debts pile up, the individuals ultimately opt to file for bankruptcy. The biggest fear when the individual's file for bankruptcy is how it impacts their credit scores. There are many reasons why credit scores will not be impacted in cases of bankruptcy as every individual commences their financial status afresh and they have time to rebuild their credit history Checking with a bankruptcy attorney or a law firm such as Recovery [...]

2023-03-07T11:00:26+00:00
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Bankruptcy & Divorce – Not a wise idea!

It is definitely not a great feeling to go through a personal crisis of bankruptcy and divorce at the same time. There can be a tight interlink between the two, as divorce can lead to a bankruptcy situation as assets may get separated and also if you are turning bankrupt as a married couple, you are definitely turning unhappy with your partner leading to a divorce. Despite this link, it generally isn’t a great and wise idea to file for divorce and bankruptcy at the same time. Let’s learn how! As the court may request financial income information [...]

2023-03-07T09:47:12+00:00
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A Joint Chapter 7 Bankruptcy Filing

Joint Bankruptcy or Joint Chapter 7 Bankruptcy is the filing opted by married couples who face surplus debts and seek options to have them discharged as they have challenges of paying them. Let’s first understand how the filing of Joint Bankruptcy works – A single set of bankruptcy papers are filed on behalf of the married couple (though there are two individuals involved) All property information, debts, income to the family and expenses are submitted to the court Debts can be those that are jointly owned or can be the ones that an individual owes to other Details [...]

2023-03-31T08:50:12+00:00
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Why Hold Back from Bankruptcy Filing?

Many times, people who owe creditors money, lead a life that is full of threats and harassment. Debt collection agencies do not leave any stone unturned to get back the money that you owe them or the creditors. In case you too are plagued with incessant phone calls, urgent notices or demands for financial settlements, why are you hesitating to file for bankruptcy? More often than not people are afraid of filing for bankruptcy due to the various myths surrounding it. Lawyers of Sacramento based law firm Recovery Law Group provide a number of common reasons why people [...]

2023-03-07T10:51:59+00:00
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What Happens to Credit Card Debt in Bankruptcy?

Spending beyond the budget is a common occurrence, thanks to the ever-prevailing credit cards. Since you do not have to pay immediately, people often go overboard with their spending, not realizing that eventually the money is to be paid and that too with additional charges. It is no wonder that a large number of population incurs heavy debt thanks to this habit, resulting in many of the individuals filing for bankruptcy. The excessive debt may also be due to exhaustive medical bills or vehicle repairs etc. Many times, credit card debts are discharged (with some exceptions) when a [...]

2019-05-06T12:44:08+00:00
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What Happens if You Miss the 45 Day Deadline for the Personal Financial Management Class Mandatory Necessary for Bankruptcy?

It is not that easy to get rid of your debts, even with bankruptcy. Not only a lot of paperwork is involved for filing the petition, but you are also required to take a financial management course and provide a certificate of completion in the court to get bankruptcy discharge before you can rebuild your financial situation. […]

2023-03-07T09:52:41+00:00
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What are the Debt Relief Options for Small Businesses and their Owners?

Starting a business in uncertain times can go anywhere. Whether you reach the zeniths of success or taste failure, it is a matter of chance. The odds are stacked against you no matter which business you wish to start. A lot of financial capital, overhead expenses, and advertising are involved to make any business a successful venture. However, sometimes, business owners might find themselves struggling with these expenses, trying to stay afloat or make a profit. In case small business owners or start-ups are facing problems in managing their finances (personal or business) they might find themselves under [...]

2023-03-07T10:23:05+00:00
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We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.