Chapter 13 Bankruptcy

Removal And “Cramming Down“Of Liens In Bankruptcy

Call: 888-297-6203 Reduction of the amount of the lien to the market value is known as ‘cramming down’. Here, if the mortgage balance is larger than the property value then the mortgage balance will be reduced to the property value. It is done in chapter 11 on properties that do not come under the exempt property that is it should not be a primary residence. Mortgage, Home Equity Line of Credit, Homeowners’ Association, and judgment comes under liens that can be crammed down. You can remove fully unsecured liens in rental properties in chapter 11 and you can [...]

2023-03-30T13:27:34+00:00
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Is Filing A Chapter 13 Bankruptcy A Good Option To Stop A Tax Foreclosure?

Call: 888-297-6203 Sometimes our property taxes are due, and though we may not take it as a very big issue, they can put us and our family at risk of Foreclosure by the City's Tax Collector. Even though failing on your property taxes can be paid back later, if and so it happens, still, the State and Local Tax Authorities make the process very lengthy, complicated, and expensive. Though not a very big deal at times becomes a big one later on. So why fall into it? Know these, so that you don't face an issue later. 1) [...]

2023-04-19T12:11:56+00:00
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The Affect Of Chapter 13 Bankruptcy On Your Car

Call: 888-297-6203 1) If Chapter 13 Bankruptcy is filed, can I keep my car, or do I have to give it off? When filing for Chapter 13 Bankruptcy, you can keep all of your assets, including the nonexempt ones. A repayment plan is a set-up, and money is paid to the Chapter 13 trustee. Also, none of your property is sold off to pay back the creditors. Through the repayment plan, even if you have nonexempt equity on your car, you will have to pay your creditors (especially unsecured ones) an amount equal to your non-exempt equity. 2) [...]

2023-04-19T11:38:24+00:00
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What Are Chapter 7 And Chapter 13? What Is The Difference?

Call: 888-297-6203 In this article, you will know what kinds of debts can be discharged under each and who is eligible for chapter 7 and who is eligible for chapter 13. Chapter 7? Chapter 7 bankruptcy is also called “ straight bankruptcy”. Here all your dischargeable debts are discharged, you just have to keep a list of debts you owe to each company and the list of your assets. There are assets called exempt property which include home, car, and anything essential to start a new life but here also there is a limit to the value of [...]

2022-04-05T07:34:11+00:00
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Does The Co-Signer Have To Pay The Debt If You Cannot Pay For It?

Call: 888-297-6203 Usually, when you sign a loan, the lender requires a co-signer. This is to ensure that if you cannot pay the loan, the co-signer will pay it on your behalf. More often than not, it happens if you do not have a supporting credit history and the lender cannot rely on you to repay the debt. If you fail to make the payments, the lender has the freedom to go after the co-signer to recover the money owed to them. When you file for bankruptcy, the automatic stay prevents the creditors to collect money from you. [...]

2023-04-19T11:33:59+00:00
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At A Stage To File Bankruptcy? Well, Before You Do So, Know These 8 Things

Call: 888-297-6203 1) Bankruptcy can be filed in 2 options Which one you choose, depends on a few things. A- For Chapter 7, you get to keep your house and car, if you can clear their dues, you get to walk away from most of the debt. B - For Chapter 13, depends on your income. If you have earned too much or filed for Chapter 7 in the last 8 years, this is what you need to do. Here, all your debts get paid off, but you don't have to pay the entire thing. Some creditors may [...]

2023-04-19T11:31:29+00:00
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COVID-19 AND BANKRUPTCY – The Co-Relation Between The Two

Call: 888-297-6203 During Covid there are job cuts and the whole world is facing sudden unemployment, amidst this period if your creditor harasses you or creates pressure on you to pay up, you will have to know your rights. Serious effects on our life because of the pandemic- Pandemic has had serious effects on a lot of people, especially those who are losing their job or their business is closed because there are no funding or people to buy their products. These people who have debts too are contently pressurized to pay the creditors or they try to [...]

2023-04-19T11:15:18+00:00
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Is Bankruptcy An Option? Let Us Explore The Warning Signs To Know The Same

Call: 888-297-6203 Financial difficulty, mostly due to unemployment, health failures, or personal lacking leads to bankruptcy. Self-dependent people too fall into this well-laid Federal Law trap of having taken too much debt to repay. Recovery Law Group from Los Angeles & Dallas, TX is there for assistance. You can contact us at (888-297-6203) for details. How do you know if it is time to file for Bankruptcy? Let's see the common signs. 1) Never ending debt Be it paying monthly for your credit card, or having nothing to pay at all, bankruptcy is the solution for you. Either [...]

2023-04-19T11:28:48+00:00
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Personal Liquidation Options: Chapter 7 Bankruptcy And Chapter 13 Bankruptcy!

Call: 888-297-6203 Bankruptcy may be necessary? If you are facing sudden unemployment, medical emergency, or divorce, there is a huge money crunch. Always lagging in bill payments or spending very cautiously every time is exhausting. When you are in debt, the uneasiness of the burden never goes away, and at times when it starts to, a creditor calls asking for money, and the uneasiness returns. If you are feeling this way contact the Recovery law group - (888-297-6203) for a bankruptcy attorney. Seeking financial protection is certainly not a simple choice, as so many need to satisfy their [...]

2023-04-19T11:22:38+00:00
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The Distinction Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 Confronting the harsh reality of not being able to repay your debt which you took in sound mind is troublesome. Your only possible solution to this may be filing for bankruptcy. By contacting a bankruptcy attorney, you can understand your next step is to file under chapter 7 or chapter 13. How to go about chapter 7 bankruptcy? A chapter 7 bankruptcy goes on for about 6 months or less. In that time you are asked to settle as much as debt as possible and emit the rest. Here, you are asked to settle your debts [...]

2023-04-19T11:21:42+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.