After Bankruptcy

Key Factors That Swing Balance Across Chapter 7 And Chapter 13

Call: 888-297-6203 Chapter 7 and Chapter 13 are the two most important chapters in bankruptcy. Some characteristics that swing the balance to Chapter 7 or Chapter 13 for an applier can be listed as follows- Consider Chapter 7- If you have a higher percentage of unsecured debt, chapter 7 can be beneficial. These can be medical bills, credit card dues, personal unsecured loans, payday loans, and other loans which do not have collateral. To know a more in-depth analysis of what kind of debt you have and whether chapter 7 is appropriate, log on tohttps://recoverylawgroup.com/bankruptcy/  If you have [...]

2023-03-31T08:21:46+00:00
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What Are The Things Required For Chapter 7 Bankruptcy?

Call: 888-297-6203 Chapter 7 is a bankruptcy medium for businesses as well as individuals. It contributes to over 70% of bankruptcy cases and is one of the most popular chapters amongst bankruptcy filers. To ensure Chapter 7 procedures are followed appropriately and dismissal is not an obvious consideration for the bankruptcy courts, it might well be worthy to dial 888-297-6203 and seek professional assistance. However, it should be noted that it isn’t mandatory for the filer to appoint an attorney to file for bankruptcy via Chapter 7. Status of the filer The first thing to verify when filing [...]

2023-03-31T08:10:45+00:00
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Repossession Post-Bankruptcy

Call: 888-297-6203 During bankruptcy, many assets may be liquidated, which means the bankruptcy filer might end up losing possession of the asset. However, once an asset is lost during bankruptcy need not be the last resort. If the filer feels he/she needs the asset dearly, there are possibilities for the filer to reclaim it. The whole process of reclaiming an asset after being liquidated is referred to as repossession post-bankruptcy. In detail, a debt that is backed by an asset once liquidated, the lenders or creditors get the possession of the asset from the filer. This usually is [...]

2023-03-31T08:12:11+00:00
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How Do I Buy A Car After Bankruptcy?

Call: 888-297-6203 Buying a car after declaring bankruptcy can sometimes be a necessity. Especially if you had a bad bankruptcy settlement and ended up losing your essential or basic assets like a car or a house, you might feel the need to buy a car after bankruptcy. Traveling for job purposes often makes a car a necessity as it adds to the convenience and saves costs on fuel as well. How long you may have to wait to buy a car? The possibility of relying on a car loan to buy a car is most likely after you [...]

2023-03-31T08:14:16+00:00
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Bankruptcy Discharge: Myth Or Possibility

Call: 888-297-6203 Discharge of debts often seems a lucrative consideration for people considering bankruptcy. A bankruptcy discharge is a phenomenon that is a side effect of declaring bankruptcy. Discharge can occur in all bankruptcy filings whether via Chapter 7, 13, or even 11 (for businesses). However, the amount of discharge remains variable that depends on different circumstances and situations of the applier. It is also important to note, that the repeat bankruptcy filers may end up with no or zero discharge if they have not completed the seasoning or the cool-off period. To know more about the cool-off [...]

2023-03-22T09:34:06+00:00
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Secured Debt Vs Unsecured Debt

Call: 888-297-6203 Secured debt is a debt form that is usually backed by an asset or collateral. These debts are usually of larger amounts and since they have a lien attached to them, they become important during the bankruptcy claims. A secure debt can broadly be classified into two types. Real property secured debt and personal property secured debt. Any debt that is secured by house, land, or any other real property by nature falls under the real property secured debt, and any debt that is secured under personal property like a car, motorbike, electrical appliance, etc., come [...]

2023-03-31T08:22:42+00:00
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How To Tackle Excessive Credit Card Debt?

Call: 888-297-6203 Credit card debt is one of the biggest traps in which most borrowers find themselves in today. In the name of lucrative offers, the high-interest rates, charges, and beyond capacity spending, confines many borrowers to a debt cycle that is very profitable to the banks but extremely challenging for the debtors. If a borrower has multiple credit cards and the limits of the credit cards are higher than the income one has, there are strong indications that the borrower may end up filing for bankruptcy. Implications of not paying credit card debt The first thought any [...]

2023-03-31T08:24:09+00:00
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Let Us Analyze The Pros And Cons Of Bankruptcy

Call: 888-297-6203 Bankruptcy has many impacts on the applier. The decision of bankruptcy is more on the situation and not on Pros and Cons. But discussing the same will help in deciding whether even in stressful situations, bankruptcy makes sense. Also, it prepares an individual inching towards bankruptcy for the future consequences of the same. Stay order In many situations, you are desperate to maintain a stay order to protect your assets or to safeguard them against lender liens. This can be a very difficult task especially when you have defaulted on several payments and the lender isn’t [...]

2023-03-31T08:28:46+00:00
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What Are Bankruptcy Exceptions?

Call: 888-297-6203 Bankruptcy exemptions are properties that are protected by the court from liquidation to repay the creditors. It is there in both bankruptcy codes and state laws. If you don't claim your exemption, the property will not be protected in your bankruptcy case. Why do bankruptcy exemptions exist? They exist so that the bankruptcy filers get a fresh start but don't have to start from scratch. They are in place so that you can keep some of the property. Who can claim bankruptcy exemptions?  Only individuals and married couples can claim exemptions as it is there to [...]

2023-03-31T08:32:12+00:00
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Bankruptcy Impact On Credit Score And Remedies

Call: 888-297-6203 Bankruptcy has a major impact on credit score, and it is obvious to hit the credit score of an individual by over 100 points at least. The credit score works on a factor that indicates an overall risk to the lender and the lower the credit score larger the risk for the lender. Once any person has declared bankruptcy, it is very difficult for a lender to trust or provide credit for such a person so easily. Such people might not be able to avail of any unsecured loan for several years, sometimes even up to [...]

2023-03-31T08:34:17+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.