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What Happens to Forbearance Programs in Case of Bankruptcy?

Call: 888-297-6203 Natural calamities such as hurricanes can destroy an entire town and its belongings. In such cases, many mortgage companies offer borrowers who have been affected by these tragedies participation in forbearance program. Under this program, elaborate Los Angeles based bankruptcy law firm https://recoverylawgroup.com/ lawyers, the mortgage payments are suspended for a stipulated time period. This can be a boon for people who have been facing financial issues. with the forbearance of mortgage payments, debtors are provided time to get back on their feet before recommencing their mortgage payments. In the case of natural disasters, forbearance programs [...]

2023-07-03T07:53:26+00:00
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Recover from the Setback of Bankruptcy and Lead a Successful Life

Call: 888-297-6203 Failures are a stepping stone to success. The adage could be used for life after bankruptcy too. Despite the ill-conceived notions people have about bankruptcy, it is not the end of the world. In fact, bankruptcy is one of the best ways to get rid of bad financial decisions or bad luck that have held you back from achieving a lot in life. Lawyers of Dallas based bankruptcy law firm https://recoverylawgroup.com/ suggest that the best way forward after getting your bankruptcy discharge is to learn from past mistakes. You can lead a successful life even after [...]

2019-10-07T13:49:37+00:00
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Which Deductions are Allowed in Means Test for Chapter 7 Bankruptcy?

Call: 888-297-6203 If you have a huge backlog of debts that you have been unable to get rid of, Chapter 7 bankruptcy is ideal for you. However, Los Angeles based bankruptcy law firm https://recoverylawgroup.com/ says that to be able to get your debts discharged through Chapter 7 bankruptcy, you need to pass the Means test. Passing the Means test is an essential requirement for qualifying for Chapter 7 bankruptcy. Since Chapter 7 bankruptcy gets rid of the majority of the debts, prevention of its misuse by high-household income people is essential. Certain expenses are deducted from the income [...]

2023-03-31T14:37:46+00:00
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Tips to Rebuild Credit Score After Bankruptcy

Call: 888-297-6203 Bankruptcy has earned a bad name because it causes a big dent to your credit report, which many people fear is irreparable. However, Dallas based bankruptcy law firm Recovery Law Group say, nothing can be further from the truth. Bankruptcy does have negative effects which make people vary of filing for bankruptcy despite struggling with debts. Bankruptcy appears on your credit report and stays for 7-10 years depending on which chapter of bankruptcy you have opted. This may alert prospective creditors of your financial situation. However, if you think you won’t get any credit for this duration, [...]

2019-10-04T12:56:13+00:00
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Credit Counselling or Bankruptcy? What Should You Choose?

Call: 888-297-6203 When it comes to debt relief, a number of options are available, say Los Angeles based bankruptcy law firm Recovery Law Group lawyers. People who are struggling with financial issues often have a problem trying to choose the best option. You will be surprised to know that there is no right choice when it comes to debt relief since every case is different. The debt relief option depends on the goal of the client. Credit counseling and bankruptcy are often the most sought-after options by debtors. Before deciding which option is better suited for you, it [...]

2019-10-04T12:56:23+00:00
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Can Bankruptcy be the Solution for Identity Theft Related Debts?

Call: 888-297-6203 Identity theft is a common issue across the country. People often face numerous issues because some obscure person managed to steal their identity. One of the worst problems is the amount of debt which identity thieves accumulate, which unfortunately gets reflected on your credit report. This can have grave consequences according to lawyers of Dallas based bankruptcy law firm Recovery Law Group. You might have to bear the brunt of aggressive debt collectors despite your repeated attempts to assure them of your innocence. How to deal with identity theft? Whenever you become aware of any identity [...]

2019-10-04T12:56:56+00:00
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Can Filing for Bankruptcy Affect You as a Renter?

Call: 888-297-6203 Bad things can happen to good people; however, this shouldn’t stop you from living your life. If due to some unfortunate streak of events, you end up accumulating a huge amount of debt, it should not hamper your chances of living a normal life. Many people are worried about the negative effect filing of a bankruptcy can have on their ability to get a house on rent. You can end up protecting your home in bankruptcy, but if bankruptcy appears on your credit report, will it create a problem for you as a renter? The answer, [...]

2019-10-04T12:57:07+00:00
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Information Essential for Filing of Bankruptcy

Once you have concluded that bankruptcy is probably the best way to get rid of your debts, it is time to consult an experienced bankruptcy lawyer. Most lawyers will ask you for a detailed account of your income, assets, and debts. This is because while filing for bankruptcy, you are required to disclose all this information as per Federal Law. For a person struggling with finances, reliving their failures can be quite overwhelming, however, this is something you cannot avoid if you wish to have your debts discharged. According to lawyers of Los Angeles based bankruptcy law firm [...]

2019-10-04T12:57:17+00:00
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An Increase Seen in Bankruptcy Filing in Elders

Call: 888-297-6203 When people are unable to repay their debts and find no other way out, they opt for bankruptcy. In recent years, there has been an increase in the number of elders filing for bankruptcy. compared to young filers, the number of senior citizens filing for bankruptcy has tripled in the past 25 years. According to Dallas based bankruptcy law firm Recovery Law Group, the reasons why bankruptcy filing has seen an increase in older debtors are: Higher healthcare costs With increasing age, health complications are bound to happen. Thanks to erratic lifestyle, diseases like diabetes, hypertension, [...]

2019-10-04T12:57:32+00:00
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Know More About Texas Bankruptcy Exemptions

Call: 888-297-6203 The worst fear people have about bankruptcy is losing all their assets to liquidation. You will be surprised to know that liquidation of assets is not as common as is believed. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, many states provide exemptions which can protect the majority of your assets from going under the hammer. Texas has amazingly generous bankruptcy exemptions that can protect more property than federal bankruptcy exemptions. The different categories of the exemption provided by Texas bankruptcy laws include: Homestead exemption One of the major concerns people [...]

2019-10-03T13:24:32+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.