Bankruptcy

Call: 888-297-6203 People, filing for bankruptcy, are always concerned about whether they will and when they will be able to utilize their credit again. To be able to use the credit again depends on each person’s situation. However, one undisputed determining factor for it is the amount of time that has passed. After Filing for Chapter 7 Bankruptcy Getting credit after a Chapter 7 bankruptcy is difficult, but not impossible. People with poor credit or no credit will find it difficult to get credit with favorable terms, as they will be asked to pay more to be able [...]

Call: 888-297-6203 In Florida, the practice of lien stripping is permissible in bankruptcy. In lien stripping, you can remove the entirely unsecured liens from your homestead property. In bankruptcy, entirely unsecured liens are known as ‘wholly unsecured liens’. A wholly unsecured lien is that lien on the filer’s property which does not receive any money from a foreclosure sale, as there will not be any money left after the payment made to the first lien holder. This means that if your first mortgage debt is more than your property’s worth, and you also have other mortgage debts, those [...]

Call: 888-297-6203 Jointly-owned property with siblings, spouse or any other person, concerns most of the filers of bankruptcy. The possibility, of joint-owners losing the interest in the property, is a matter of real concern. The exact effect of a bankruptcy filing, in such matters, depends on the relationship between the joint owners, the process of titling of the property, and the filer’s state exemptions. The most common joint-owners are spouses. In Florida, property jointly-held by spouses is supposedly by Tenancy by the Entirety, if not specifically mentioned otherwise. This kind of joint-ownership has its own perks as the [...]

Call: 888-297-6203 Most people live their lives on loan. They are accustomed to using their credit cards for everything they buy. However, many times, being unable to pay off the amount due, they end up in debt. When the debt piles up, you might have to face severe consequences like threatening phone calls and even wage garnishment. The latter is a court order through which the creditor will receive money from your paycheque. Your employer is compelled to deduct the specified amount and pay the creditor. This continues till the due is cleared. However, Dallas based bankruptcy law [...]

Call: 888-297-6203 Irrespective of the bankruptcy chapter you file under, if your car payments are current, you can keep the vehicle when you file for bankruptcy, say Los Angeles based bankruptcy law firm Recovery Law Group. Here’s what happens in different bankruptcy chapters: Chapter 7 bankruptcy If you wish to keep your car during this bankruptcy chapter, you need to reaffirm the loan. If you are current on the payments, you can continue making payments and a Reaffirmation Agreement will be provided by your loan financer. Once you sign the agreement, it will be filed in court, thereby [...]

Call: 888-297-6203 Once you file for bankruptcy, you will end up receiving many different types of summons including foreclosure. While filing for bankruptcy, you have the option of either surrendering your home or retaining it. If you decide to keep your home, you need to continue making payments on your mortgage. However, if you surrender the home and get a bankruptcy discharge, it is not necessary that all your liabilities end. Surrendering the home in bankruptcy takes care of only the financial part, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. The deed of [...]

Call: 888-297-6203 Though bankruptcy is one of the best ways to get rid of debts, it is not always in the best interest of everyone. Before filing for bankruptcy, lawyers of Dallas based bankruptcy law firm Recovery Law Group suggests that all factors must be taken into account. Try getting out of the financial mess without a bankruptcy filing. This can be done through a repayment plan based on your disposable income. Though a relatively slower method, it can work if you cut down on unnecessary expenses or take up an additional job. However, you need to deal [...]

Call: 888-297-6203 Sometimes non-payment of dues like credit card debt can result in the creditor filing a civil lawsuit against you. If you don’t respond to it then, Los Angeles based bankruptcy law firm Recovery Law Group lawyers say, you could end up facing a civil judgment. If there are no heavy debts and the judgment amount is small, then you could set a payment plan to clear the debt. However, if you have many debts and the judgement amount is large, then you could consider bankruptcy as a way out. Bankruptcy is one of the best ways [...]

Call: 888-297-6203 According to Los Angeles based bankruptcy law firm Recovery Law Group, apart from unmanageable debt, creditor harassment is the other reason why people file for bankruptcy. Irrespective of the bankruptcy chapter, when you file for bankruptcy, an automatic stay is put in place. Thanks to it, creditors cannot pursue any collection actions like wage garnishment, foreclosure or repossession. However, they might not stop harassing you as soon as you file bankruptcy papers. This is so because they might not be notified of your bankruptcy, as Notice of Bankruptcy which is prepared by the Bankruptcy Court requires [...]

Call: 888-297-6203 People might shift to different states due to work reasons. This is generally not a matter of concern unless they have to file for bankruptcy. Since bankruptcy laws and exemptions vary from state to state, it is difficult to keep track of them. Hiring an attorney might be the best decision in this case. you can call 888-297-6023 to know your options from experienced bankruptcy lawyers. As per Los Angeles based bankruptcy law firm Recovery Law Group if you have been residing in the state for 180 days or more before filing for bankruptcy, then you [...]