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Stress Caused Due To Bankruptcy Might Result In Divorce

Call: 888-297-6203 Statistics reveal that almost 36% of bankruptcy filers have had too much stress to deal with which resulted in them filing for divorce or separation due to it. Dallas based bankruptcy law firm Recovery Law Group lawyers say that most people separate and file for divorce due to financial issues. Though the people filing for separation are 36%, people who end up divorcing is 18%, yet the number is high enough. Florida has earned a nasty reputation of being the leading cities in the U.S. with the highest divorce rate. Incidentally, Florida also has the in [...]

2023-06-29T04:44:29+00:00
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Can Medical Debts Be Responsible For Your Bankruptcy?

Call: 888-297-6203 Filing for bankruptcy is an unfortunate event that may or may not be because of the individual. Sometimes, ill-advised investment or spending beyond your means can be the reason for incurring a huge amount of debts. However, many times, it is unfortunate circumstances like loss of job, costly divorce, unplanned pregnancy or huge medical bills that can be the reason for a bankruptcy filing, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. Illness is one of the most common causes which leads to bankruptcy filing with nearly 62% of bankruptcy cases attributed [...]

2023-07-03T07:49:17+00:00
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Chrysler Group’s Fortunes Turned After Bankruptcy

Call: 888-297-6203 Almost 3 years back Chrysler LLC and Fiat S.P.A. formed an alliance that wasn’t announced formally till Chrysler declared bankruptcy. Fiat eventually purchased around 30% shares of the Chrysler Group. Though they wanted to buy 51% stock, this wasn’t possible since Chrysler owed the U.S. Government debts which needed to be repaid before the purchase could happen. Despite their sticky situation, Los Angeles based bankruptcy law firm Recovery Law Group says, the Chrysler Group reported a profit of $183 million which is a dramatic improvement from their $652 million loss incurred during 2010. Though, they have [...]

2023-03-22T08:43:14+00:00
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Keeping The Car Is Easy In Bankruptcy, Motorcycles Might Not Make The Cut Though

Call: 888-297-6203 When you file for bankruptcy, you are allowed certain exemptions to protect a certain amount of property so that you can start your life afresh. Generally, any item which is deemed essential for the debtor and their family is protected from creditors. These exemptions include homestead, personal property, retirement accounts, etc. Lawyers of Dallas based bankruptcy law firm Recovery Law Group inform that different states have varied levels of exemptions. In Florida, bankruptcy filers can protect $1,000 in vehicle equity, while financed vehicles can be kept through a bankruptcy case. However, if you are trying to [...]

2023-04-28T12:22:41+00:00
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Origin of Bankruptcy

Call: 888-297-6203 Bankruptcy finds its origins in ancient text like Torah and Old Testament (Book of Deuteronomy, Chapter 15:1-2) and the Mosaic Law. As per the old story, all debts will be forgiven at the end of every seven years. The bankruptcy outlined by founding forefathers states the rights of individuals in courts. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group inform that even today, Chapter 7 bankruptcy discharge is given to debtors after the end of seven years only. According to text available in the ancient text, a person who is relieved of debt [...]

2023-04-28T12:20:38+00:00
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Tax Refunds And Bankruptcy

When you are struggling with debt, thinking straight is not expected. While filing for bankruptcy, hiring skilled bankruptcy lawyers can help you deal with any issues which arise, later on, say lawyers of Dallas based bankruptcy law firm Recovery Law Group. One of the most common problems people face is a failure to remember tax refunds while listing their assets in bankruptcy schedules. Just like any other asset, income tax refunds should also be treated similarly, except that they are held by the government. The bankruptcy trustee has to deal with the tax refund depending on the month [...]

2023-06-05T12:13:37+00:00
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Can You Convert Your Bankruptcy Chapter?

Call: 888-297-6203 If you thought handling debts were difficult, you have not looked at the documents required in bankruptcy. Los Angeles based bankruptcy law firm Recovery Law Group lawyers inform that there are four chapters under which individuals can file for bankruptcy. However, determining which chapter will work best for you is something you cannot decide. This is done by experienced bankruptcy lawyers. They ask you questions related to your debts, assets, etc. and depending on your answers, suggest the best chapter for filing for bankruptcy. Since every case is different, there is no fixed way to suggest [...]

2023-04-28T12:13:09+00:00
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Chapter 7 Bankruptcy Used by Former Adult Film Actress to Get Rid of Debts

Call: 888-297-6203 Bankruptcy can hit anyone, anytime and there are numerous examples of even the high and mighty falling into bad times leading to a bankruptcy filing by them. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group brought to attention the case of Patricia Kluge, an adult film star who got one of the largest divorce settlements when she divorced her husband of nine years. The annual interest rate on the settlement was calculated to be $1.6 million per week! However, in the past 22 years, the 1-billion-dollar settlement was blown away, leaving the actress [...]

2023-04-28T12:07:39+00:00
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Chapter 7 Bankruptcy Filing of William Gary Busey

Call: 888-297-6203 On February 7, 2012, a famous actor of Malibu, California, William Gary Busey, had filed for a Chapter 7 bankruptcy. He had cited that he had assets of less than $50,000 and liabilities for more than $500,000. Gary had claimed that he had snorted cocaine off with a straw of his dog, Chili, in 2008. Though such a history would have made an average citizen unemployable, Gary had still continued to make films. He had starred alongside Danny Glover and Mel Gibson in the original Lethal Weapon movie. His other famous titles include Piranha 3DD and [...]

2023-04-28T12:06:47+00:00
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An Imprisonment Of 5 Years, Supervised Release Of 3 Years And Fine Of $250,000 For A Bankruptcy Fraudster

Call: 888-297-6203 A resident of Massachusetts, John Pregent, was found guilty to one count of bankruptcy fraud in the bankruptcy case of his business, Technical Fabrications, Inc. (TechFab). He was found guilty of scheming to defraud creditors. He had filed for a Chapter 7 bankruptcy (only Chapter 7 and 11 can be filed for by businesses) on July 26, 2010, in the Massachusetts District Court, with the intention of getting the debts of the business discharged. Normally there wouldn’t have been any problem, but before filing for bankruptcy, Mr. Pregent had sold the valuable assets of his company, [...]

2023-01-12T08:17:58+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.