Bankruptcy

Bankruptcy And Business Arrangements

Call: 888-297-6203 The pandemic era has brought a lot of businesses under the weather. This has led to many small businesses moving towards bankruptcy. As per several research magazines, it was predicted that almost 33% of small businesses in the United States ended up halting their operations permanently or with an uncertain future. Loan forgiveness grants from the government probably protected the 66% of other small business units that were also on the brink of shutting down probably. Factors to consider while thinking of bankruptcy The factors associated with businesses are far more complex and intriguing. Expert guidance [...]

2023-05-19T06:24:15+00:00
Read More

Eligibility Tests And Other Aspects While Considering Bankruptcy

Call: 888-297-6203 Misuse of Bankruptcy laws is something that was commonly seen in the 1990s and early 2000s which led to a series of changes in the Bankruptcy laws. Many individuals who had substantial assets also started declaring bankruptcy and ended up dissolving their debts effortlessly. To ensure the borrower truly needs a bankruptcy claim, there are the following tests that he/she can consider before filing for bankruptcy- Means test A means test is basically verifying if your income is lower than the median income of your state. Every state in the US based on various factors like [...]

2023-06-05T13:34:42+00:00
Read More

Federal Rules Followed In A Bankruptcy Procedure

Call: 888-297-6203 When an individual files for bankruptcy, he gets the benefit to discharge most of his debts. Alternatively, if they file under chapter 7, they can discharge their debts by repaying the creditors equally by selling the assets. This way, if the full due value is not paid back also, at least the creditors get their dues equally. Under certain bankruptcy proceedings, the court asks the debtor to continue his business and generate revenue to pay off their debts. Alternatively, the debtor can completely free themselves of any debts by selling off their assets and using the [...]

2023-05-19T06:27:33+00:00
Read More

How To Deal With Your Property In Bankruptcy Exemption?

Call: 888-297-6203 When an individual files for bankruptcy under chapter 7 or chapter 13, they are expected to either pay for all the non-exempt property under the repayment plan or sell them to pay the creditors under chapter 7. However, bankruptcy exemptions help you to protect your non-exempt properties from creditors. Bankruptcy Estate and the Trustee’s Role Once a debtor files for bankruptcy, the total assets and liabilities are calculated to determine the debtors' Bankruptcy estate at the time of filing. The trustee is therefore liable to pay off the creditors the money due as per the value [...]

2023-06-05T12:57:59+00:00
Read More

All You Need To Know About Chapter 7 Bankruptcy Means Test

Call: 888-297-6203 When there is unmanageable debt and you don't see a secured financial future of yours then unwilling you have to file for Bankruptcy. Chapter 7 bankruptcy in most cases is the best aid to a debtor. Here almost all the debts are cleared but the court doesn't just let anyone file for chapter 7 liquidation bankruptcy. To separate those debtors who can repay some of their debts, the US bankruptcy code has a 'means test' to see who qualifies for chapter 7 bankruptcy and who doesn't. The means test compares the last 6 months of income [...]

2023-04-21T12:25:46+00:00
Read More

Is It Possible To File For Bankruptcy Twice?

Call: 888-297-6203 If there is a proper time between two filings, a person can file for bankruptcy twice. They also need to see if the first case was discharged. A normal waiting period of 2 years is applied but it gets longer depending on the type of bankruptcy you filed first and the one you are planning to file now. The waiting period to file for a second time is affected by factors such as the result of the first bankruptcy (whether it was discharged or dismissed), the type of bankruptcy that was filed the first time, the [...]

2023-11-30T07:05:23+00:00
Read More

All You Need To Know About Filing Bankruptcy Via Chapter 13

Call: 888-297-6203 Chapter 13 way of filing for bankruptcy can be one of the smoothest ways of minimizing debt, safeguarding assets, and starting a new chapter in your life. This kind of bankruptcy filing is suitable for filers who have a strong and reliable job, are looking to grow in their employment, and can sustain with same or higher pay scale for the next 5-10 years. The basic logic behind Chapter 13 is to restructure your debts and dilute them with a better repayment plan to ensure debt payoff looks more reasonable and easier. This helps in avoiding [...]

2023-06-05T13:39:16+00:00
Read More

The Bankruptcy Code Of The United States

Call: 888-297-6203 Filing for bankruptcy helps the filer by either getting a discharge from most of their debts or by helping them devise a repayment plan to catch up with all the arrears. Bankruptcy can be filed by an individual, a couple, a business, or any such entity. All bankruptcy-related cases are handled by the federal courts, which they abide by, by following the US bankruptcy codes. The different types of bankruptcy include – Chapter 7 and chapter 13 – Individuals can file for bankruptcy under this chapter Chapter 9 – Municipalities like city, towns, schools, taxing districts [...]

2023-06-27T05:55:18+00:00
Read More

All That You Must Know About Bankruptcy Basics

Call: 888-297-6203 The Bankruptcy Code, enacted in 1978 and codified as Title 11 of the United States Code, is the uniform federal law that is empowered to govern all bankruptcy cases. This code has been amended several times. The Bankruptcy Rules govern all the procedures of the Bankruptcy process and are the same for all. In each judicial district of the country, there is a separate bankruptcy court. A state consists of one or more districts. And each bankruptcy court has its own clerk's office. The United States Bankruptcy Judge is the official decision-making power in the court. [...]

2023-06-27T05:59:18+00:00
Read More

Let Us Know More About Bankruptcy Petition

Call: 888-297-6203 The first step when you file for bankruptcy is to complete the bankruptcy petition. The petition includes multiple forms that need details of all your debts, assets, incomes, and expenses. Once you file a petition the creditors are stopped from taking any more money from you. A petition can be filed for either Chapter 7 or chapter 13 bankruptcy. Chapter 13 will help you clear your debts where you can keep some of your assets, while chapter 7 will allow you to quickly clear your debts by selling your assets. It is advisable to talk to [...]

2023-06-05T12:59:19+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.