Bankruptcy

Call: 888-297-6203 Filing under chapter 7 bankruptcy is the most common chapter. Individuals who cannot pay regular, monthly payments towards their debts file under this chapter. Businesses that choose to terminate their enterprise choose chapter 7 bankruptcy filing. Chapter 7 provides its debtor relief regardless of the amount of debt owed or whether the debtor is solvent or insolvent. A chapter 7 trustee is appointed to liquidate the debtor’s assets and distribute the money among the creditors. Bankruptcy is filed to get a new start and secure the financial future of the debtor. To qualify for chapter 7 [...]

Call: 888-297-6203 Under many circumstance many times, you fail to make payments on time and pass the due date consecutively for a couple of months, then under this circumstances filing for bankruptcy may be the only viable option left. Alternatively, you can also for IRS payment plan. If you are planning to file for bankruptcy as in individual, filing under chapter 13 is common and feasible option. But before you file under this chapter, you must take care of the following things- All your previous and pending tax returns are filed for at least last 4 years before [...]

Call: 888-297-6203 Chapter 13 bankruptcy is only available to those who have a regular income, have filed all required tax returns for tax periods ending within 4 years of a bankruptcy filing and other requirements set by the bankruptcy code should be met by the individual. People like an employee with regular income, a sole proprietor (one-person businesses), and/or self-employed can file for chapter 13 bankruptcy. Bankruptcy is filed to get a fresh start and get rid of debts. To take full advantage of the bankruptcy laws, it is necessary to see that you don't keep adding to [...]

Call: 888-297-6203 Chapter 7 bankruptcy might seem very attractive because of the discharge it promises. But there are obviously some aspects that need to be revisited or thought about before considering chapter 7. These can help in making a sound decision with respect to bankruptcy choices. Learn more about bankruptcy overall by logging on to https://www.recoverylawgroup.com/bankruptcy/. Flaws of chapter 7 bankruptcy Liquidation of assets If the filer has more assets and all of them or most of them are nonexempt, chapter 7 can prove disastrous. The filer might end up with very few assets post-bankruptcy. There are certain [...]

Call: 888-297-6203 Piling up debt can cause immense problems. This can be due to job loss, medical emergency, death in the family, or a divorce. Bankruptcy can be one of the solutions to get rid of that massive debt. However, filing for bankruptcy does not mean you do not have to pay any of your obligations. Certain debts like student loans, child support, alimony, reaffirmed debts, government taxes, fines, etc., do not get discharged in bankruptcy. The debt you end up paying depends on the chapter of bankruptcy you are eligible for and file. However, a bankruptcy filing [...]

Call: 888-297-6203 If you have a stable source of income, filing for bankruptcy under chapter 13 should be your best bet. This way, you can get rid of all your debts without having the fear of foreclosing your property. Under chapter 13, you get to catch up on all your arrears by repaying your debts within a time period of 3-5 years. That is why, this is one of the most preferred ways for most filers. As scary as filing for bankruptcy may be, chapter 13 is considered a safe bet. No doubt that your credit score will [...]

Call: 888-297-6203 Chapter 7 is by far the most preferred and the most common bankruptcy chapter across the years. Chapter 7 bankruptcy might be lucrative, but it does not mean it is the best available option for all the filers. Hence, we need to understand when chapter 7 bankruptcy is appropriate. To learn more about bankruptcies and its complications log on to https://www.recoverylawgroup.com/bankruptcy/ now. When to file for chapter 7 bankruptcy? You have inconsistent income, unstable employment, and no certainty of job and income in the recent past as well as in the near future If there has [...]