Blog

Call: 888-297-6203 Bankruptcy is something that people wish to avoid at all costs. However, sometimes it becomes essential to file for bankruptcy if you wish to get rid of your debts. Before filing for bankruptcy, Los Angeles based bankruptcy law firm Recovery Law Group lawyers suggest that you should find out how personal bankruptcy chapters might affect your mortgage payments and future home financing requirements. Personal bankruptcy filers have a choice between Chapter 7 and Chapter 13. The former is liquidation bankruptcy which gets rid of all unsecured debts, but you might have to sell your non-exempt property [...]

Call: 888-297-6203 If you are worried about huge amounts of debts, then bankruptcy is an excellent way to get rid of them. Almost all debts are eliminated in bankruptcy, except a few say Los Angeles based bankruptcy law firm Recovery Law Group lawyers. You can regain your financial independence by opting for bankruptcy. Most unsecured debts can be wiped off in bankruptcy. the debts you can eliminate include credit card debts, medical bills, business debts, negligence claims, gasoline and store charge cards, unpaid rent, lawsuit judgements, promissory notes, utility bills, debts due to car accidents, mortgages, personal loans [...]

Call: 888-297-6203 Filing for bankruptcy might be a challenging thing to do. Although it solves your financial problems, it does create others. Some of those problems can be really serious too. Filing for bankruptcy will affect every financial aspect of your life. Thus, it’s important to consult a proficient legal firm like The Recovery Law Group, regarding the short and long term effects of bankruptcy before filing for it. You can reach them at Recovery Law Group or 888-297-6203. Chapter 7 and Chapter 13 are the highly sought-after forms of bankruptcy. In Chapter 7 bankruptcy, you get rid [...]

Call: 888-297-6203 To go bankrupt means to run out of enough money to pay your debts or to have liabilities more than the assets. In bankruptcy, an individual files for a specific chapter bankruptcy depending on his or her situation. The two most common bankruptcies are Chapter 7 and Chapter 13 bankruptcy. Although filing for bankruptcy helps you in discharging your debts, it is an avoidable serious decision. Inability to get new loans because of low credit scores (Chapter 7 filing has more adverse effects than Chapter 13 filing), surrendering the personal property, the uncertain dischargeable status of [...]

Call: 888-297-6203 Once you’re certain about filing bankruptcy, you must determine the bankruptcy that suits your situation – Chapter 7 or Chapter 13. Given below is an overview of the two types of bankruptcy (Chapters 7 & 13), to help you make the right decision. Chapter 7 Bankruptcy It involves liquidation of the debtor’s secured assets (a house or a car) and discharge of unsecured debts (unpaid medical bills, credit card bills, etc.). Its paperwork contains a list of all the properties of the debtor and the possible state or federal ‘exemptions’ for each of them. ‘Exemptions’ work [...]

Call: 888-297-6203 A bankruptcy filing is a legal process that frees an individual or businesses from the financial obligation of repaying the debts they owe. In some cases, it’s an ideal opportunity for creditors to claw back some of the debts that are due to them. This process has its own pros and cons. So, it’s better to make every possible effort like doing a part-time job, making only necessary expenses, etc. to supervise your debt obligations before going ahead with bankruptcy. It’ll be better to consult a competent bankruptcy law firm like The Recovery Law Group (https://recoverylawgroup.com/ [...]

Call: 888-297-6203 The current American bankruptcy law doesn’t require you to publish any bankruptcy notice in the newspaper. In case you are a public figure or a celebrity, the gossip magazines will themselves make a hue and cry about it. Otherwise, neither will anyone probably care about you going bankrupt nor will it be made a public announcement in any newspaper or magazine. However, your credit report will show your bankruptcy, which will be considered by your future lenders and creditors, but you can minimize its adverse impact by rebuilding your credit after bankruptcy. You can know more [...]