After Bankruptcy

The Fate Of Liens In Chapter 7 Bankruptcy

Call: 888-297-6203 When individuals buy a property such as a house or a car, they usually take out a loan. The lender requires the borrower to agree that non-payment of the debt allows the creditor to take the purchased property and sell it to recover the outstanding loan balance. This ownership interest in a property is called a lien. Usually, the outstanding price of the property is less than what is owed. As a result, the borrower remains responsible for the outstanding balance, also known as a deficiency. This deficiency balance can be wiped out in a Chapter [...]

2023-04-19T10:28:20+00:00
Read More

How Does Your Bankruptcy Case Initiate?

Call: 888-297-6203 People often end up owing money to credit card companies, medical providers, student loan holders, or any other creditor. If you are behind payments, the creditors might sue you to collect what you owe them. Usually, the creditor or collection agency might file a formal petition against you in court for non-payment of dues. The collection agency or their lawyer is required to serve you with a copy of the complaint along with a summon, which notifies you that you are being sued for non-payment of dues. The summon also notifies you when you are required [...]

2023-04-19T10:27:36+00:00
Read More

All You Must Understand About Priority Debts Under Chapter 7

Call: 888-297-6203 Priority debts are always given first preference when repaying the debts. These include Employee Wages, domestic support obligations, child support etc. these must be paid off before the non-priority debts like medical bills and credit card balances.  Disbursement of the funds by the trustee The onus lies with the trustee to use your assets to pay off our debts. But most debtors who file for bankruptcy under chapter 7 have no assets which the trustee can sell off to pay the creditor. So, with whatever money that is available, the trustee will review the funds and [...]

2023-04-19T10:20:09+00:00
Read More

What To Expect In A Creditor Lawsuits?

Call: 888-297-6203 When a creditor or collection agency sues you for non-payment of debts, you are served with a complaint and must respond to it. Once you respond to the suit, the process starts with discovery, settlement conferences, motions for summary judgment, and a trial. Creditor lawsuits can be divided into routine and non-routine cases. In the former case, you receive a notice for a trial and date from the plaintiff. Sometimes, you might be sent a notice of settlement conference before the trial date. Ensure that you attend the settlement conference or trial. in a non-routine debt [...]

2023-04-19T10:21:27+00:00
Read More

Misconceptions That People Commonly Have About Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is not easy, most importantly due to the commonly held fears that people hear and believe in. it is nothing to be embarrassed about or be scared of. Listed below are a few common misbelieve that people have- People Judge you – NO one has soo much time to sit and judge you, so you needn’t be embarrassed. The attorney and judge are busy doing their work and no is going to judge you on thoughts like you are filing to dodge debts or that you have bad financial skills. Bankruptcy can happen [...]

2023-04-19T10:18:30+00:00
Read More

What To Do If You Wish To Keep Your Car In Chapter 7 Bankruptcy?

Call: 888-297-6203 Chapter 7 bankruptcy allows you to keep important property, including a vehicle. However, if the vehicle is an expensive model, has a lot of equity in it, or you cannot afford to make the payments, you might end up losing it. While filing for bankruptcy, you are allowed to protect some amount of personal property, including equity in the vehicle, home, household appliances, etc., using various exemptions provided by the state or federal government. The motor vehicle exemption is specifically meant to protect cars in Chapter 7 bankruptcy. What happens if the equity in the vehicle [...]

2023-04-19T11:20:30+00:00
Read More

All You Need To Know About Bankruptcy Automatic Stay

Call: 888-297-6203 Automatic Stay is a protection given by the court to the debtor from its creditors. When in debt, the debtors are usually harassed by continuous collection calls along with other collection techniques from the creditors. However, once a person applies to file for bankruptcy under Chapter 7 or Chapter 13, an automatic stay is put into effect immediately. So until the stay is in effect, the creditors cannot contact you for collection and they will be paid off as per the rules of the chapter that you have filed under. However, under certain circumstances, the creditor [...]

2023-04-19T09:58:38+00:00
Read More

What All You Need To Know While Preparing For A Meeting With The Trustee?

Call: 888-297-6203 Trustee meeting is a very essential aspect when filing for bankruptcy. This meeting is also referred to as “341 Meeting” or “Meeting of Creditors”. What is a trustee meeting? The basic criterion of the trustee meeting is the oath-taking confirmation. Here, the trustee, under oath will first confirm your identity by verifying your Photo ID as well as your Social Security card. Post this, the trustee will require your first-hand confirmation to signing of the bankruptcy petition papers along with your signatures. This is done to prevent any kind of malpractice or deceptive act. The above [...]

2023-04-19T10:11:44+00:00
Read More

Why Hiring A Bankruptcy Lawyer Is Important?

Call: 888-297-6203 Individuals filing for bankruptcy can do so without an attorney. However, doing so is not always advisable. This is because Chapter 7 involves the liquidation of your assets. In contrast, chapter 13 involves a repayment plan to save your non-exempt property. Neither of these two is straightforward enough to be handled independently without any legal expertise. A bankruptcy attorney can recognize potential problems in your bankruptcy case. As a result, it is important to seek bankruptcy attorney's assistance. Here is what a bankruptcy attorney can help you with: While bankruptcy is an excellent way to get [...]

2023-04-19T10:09:36+00:00
Read More

Qualifying For Chapter 7 Bankruptcy

Call: 888-297-6203 While Chapter 7 is the most common form of bankruptcy, qualifying for it is difficult. Here are the different ways through which you can qualify for this chapter: This bankruptcy chapter is meant for people with low household income than the state's average household income of the same size. For example, a person in Louisiana can qualify for Chapter 7 bankruptcy if their annual income is less than $47,488. The limit in Texas to qualify for Chapter 7 bankruptcy is having an annual income of $52,953. If your income exceeds the state average, the other way [...]

2023-04-19T10:23:28+00:00
Read More
Load More Posts

Recovery Law Group Logo

888-297-6203

Headquarters

309 W 11th Street,
Anderson, IN 46016
310-997-0471
Clients: customerservice@recoverylawgroup.com
Attorneys / Trustees and Court Officials: info@recoverylawgroup.com

PAID ATTORNEY ADVERTISEMENT: Wajda & Associates is a law firm. This website is an advertisement. It is not a lawyer referral service or prepaid legal services plan. Each of the lawyers on this site are either Managers, Members, Partners, Limited Partners or staff attorneys. An attorney responsible for the content of this Site is Nicholas Wajda, APC. licensed in California, Texas, and Indiana with offices at 309 W 11th Street Anderson, IN 46016. To see the attorney in your area who is responsible for this advertisement, please  Click here.  Prior results do not guarantee a similar outcome.
We help people file bankruptcy petitions to obtain relief under the bankruptcy code.