Chapter 13 Bankruptcy

What Is The Right Time To File For Bankruptcy?

Call: 888-297-6203 Filing for bankruptcy gives you a second chance at life but you should not file at the first sign of financial distress because it has both long-term and short-term consequences. Before filing, you need to do these things- Stick to a budget Talk to your creditors and try making a payment plan. Go for credit counseling. Doing these things will give you a better perspective of your financial situation and help you make the decision better. What is bankruptcy? Bankruptcy is a process where you can get rid of some or all debts with the help [...]

2023-05-29T13:19:06+00:00
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What Happens When Military Members File For Bankruptcy?

Call: 888-297-6203 Members of the military involved in active duty, protecting the homeland, or sent overseas, have special protections accorded to them in case of monetary problems and bankruptcy. The Servicemembers’ Civil Relief Act (SCRA) is a federal law designed to protect the rights of the servicemembers in case of civil actions, including a bankruptcy filing. What is SCRA? The SCRA is an act that allows servicemembers to focus their energies on the defense of the country while it takes care of any administrative proceedings which may cause them to lose focus. This is done by temporarily suspending [...]

2023-04-21T12:03:11+00:00
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Differences Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 While going through financial problems, people often look up to bankruptcy filing as a means to get rid of their debt. However, consumers can file under Chapter 7 or Chapter 13 bankruptcy. There are differences in how the debts are treated in these two chapters. Moreover, the qualification criteria also differ for these chapters. As a result, it is important to understand the differences between these two chapters. Benefits of Chapter 7 bankruptcy This bankruptcy chapter is complete in 3-6 months compared to chapter 13, which takes around 3-5 years. Most of the dischargeable debts, including [...]

2023-05-19T07:12:56+00:00
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Understanding The Basics Of Chapter 13 Bankruptcy

Call: 888-297-6203 Filing for bankruptcy under Chapter 13 puts an automatic stay in place that prevents creditor actions, including wage garnishments, foreclosure, and repossession. Apart from this, the other benefits of this chapter include lowering payment for unsecured non-priority debts (credit card balance, medical bills, personal loans, etc.), catching up on past due payments, etc. While Chapter 7 can get you a discharge earlier and without paying anything to the creditors, qualifying for this chapter is easier said than done. If you fail the Means test, Chapter 13 is the best way to get rid of your debts. [...]

2023-05-29T12:27:31+00:00
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The Reality Of Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is time taking process that will require a lot of hard work from your side too but it might be the best solution for you if you have a lot of debt and want to start a new fresh life. Some of the benefits of filing for bankruptcy are- It stops collection efforts or harassment of the creditors. It stops debt lawsuits from creditors. Stopping Wage garnishment (your creditor taking payments directly from your paycheck) Stops foreclosure if your property is not yet sold. It also stops repossessions of some property( in chapter [...]

2023-05-29T12:50:46+00:00
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Bankruptcy And Discrimination- What You Need To Know

Call: 888-297-6203 Federal law is clear on discrimination against people who are in debt whether it be government or private agencies. It is illegal for the government and private agencies to discriminate against people who- Was/is in debt Cannot pay the debt before or during a bankruptcy case. Got their debts discharged during the case. History in bankruptcy discrimination. The US constitution grants the federal government the power to set bankruptcy laws and it is uniform in all 50 states. Bankruptcy is a national matter, so any case can come up in the US supreme court as well. [...]

2023-05-29T13:21:46+00:00
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What To Expect In Bankruptcy?

Call: 888-297-6203 1) Meeting an Attorney The most important step before filing bankruptcy is meeting with the right attorney who will help you with all of your problems and will give you the right choices. You can also contact Recovery Law Group from Los Angeles & Dallas, TX for the Same. Contact - (888-297-6203). 2) Deciding of the Chapter to file in Another important decision you need to make is deciding whether you need to file for chapter 7 or chapter 13. Both are good in their sense and have their advantages and disadvantages. Chapter 13 will give [...]

2023-06-05T12:01:49+00:00
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Do You Have A Domestic Support Obligation? – This Is What You Need To Know

Call: 888-297-6203 Whether you file for bankruptcy under chapter 7 or 13, discharging a domestic support obligation is not possible. However, filing for bankruptcy can help you to reduce your overall debts which can ultimately help you pay off your support obligation. 1. How to manage your monthly support obligation while you file for bankruptcy – When you file for bankruptcy, all your payments (excluding a few) go on automatic stay – which is that the creditors cannot harass you anymore for payments until the court passes a judgment. However, the stay does not include a domestic support [...]

2023-04-21T12:02:14+00:00
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What Do You Mean By Bankruptcy And All That You Need To Know About It?

Call: 888-297-6203 Bankruptcy is when you file a case in federal court to help you or your business to get rid of your debt and repay your creditors. There are 2 basic types- Liquidation/ chapter 7 Reorganization/ chapter 11/ chapter 12/ chapter 13 Among these two, the most commonly filed are chapter 7 also known as liquidation where you may have to sell almost all your assets to repay your debts, and chapter 13 also known as reorganization where you are allowed to keep your assets in return for you repaying most or all of the debts within [...]

2023-06-27T07:17:41+00:00
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The Fate Of Student Loans In Personal Bankruptcy

Call: 888-297-6203 Most students who wish to have a flourishing career often end up with huge student debt, irrespective of their job prospects. Unfortunately, in most circumstances, many people end up with either no hob or a job that does not pay well. As a result, paying off the student loan becomes difficult, leading to the individual incurring more debts. Filing for bankruptcy might be a way out if you are struggling with finances. While student loans are nondischargeable, filing for bankruptcy might help reduce the payment or, in exceptional cases, wipe it off completely. Getting rid of [...]

2023-06-29T04:17:27+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.