Chapter 13 Bankruptcy

Counseling And Education Requirements During Bankruptcy

Call: 888-297-6203 Bankruptcy is certainly an unfortunate event, and it calls for an experience or learning. Bankruptcy might be about relieving stress and facilitating some financial relief to the filer, but it is also about making sure similar financial mistakes are not repeated. As per stats, over 15% of the filers can be repeated bankruptcy filers. These stats suggest people do not learn from their mistakes and keep falling into the debt trap due to poor financial management. The bankruptcy court hence mandates counseling requirements and a debtor education program that is part of the bankruptcy process. Credit [...]

2023-03-31T06:16:38+00:00
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Detailed Steps To Filing Bankruptcy

Call: 888-297-6203 Filing for bankruptcy can involve many steps. The first and most critical decision one must make is whether bankruptcy is required to be filed or not. The second decision is to determine the chapter in which the bankruptcy will be filed. It can be chapter 7 or chapter 13. This link https://recoverylawgroup.com/bankruptcy/ can help you determine whether bankruptcy is essential for you or not. If yes, you can also find guidance in picking the right chapter whether 7 or 13. The detailed steps to filing bankruptcy can be listed as follows- Petition A voluntary petition is [...]

2023-03-31T06:18:49+00:00
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Chapter 7 Bankruptcy Step-By-Step Explanation

Call: 888-297-6203 The first step to filing a chapter 7 bankruptcy is to sit back and analyze whether bankruptcy is required. In many situations, after serious analysis, it might be a good idea to file bankruptcy while in some other situations, bankruptcy can be avoided. If there are ways to avoid bankruptcy, that should be attempted as bankruptcy is a last resort and an emergency hand brake, which should be used only in utmost dire situations. Log on to https://recoverylawgroup.com/bankruptcy/ to understand if you can evade bankruptcy or not. What kind of borrowers should consider chapter 7 bankruptcy? [...]

2023-03-22T09:17:45+00:00
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Means Test; All You Need To Know

Call: 888-297-6203 A means test is an essential eligibility test for bankruptcy filers under chapter 7. Chapter 7 is specifically intended for poor people with no, low, or inconsistent income. Since the discharge seems very appealing, many filers with considerable disposable income try to take advantage of chapter 7. As per many experts, the means test was intended to prevent fraud but it has only complicated filing process and has had very minimal impact on the bankruptcy frauds. A means test is an additional form that needs to be attached to the bankruptcy filing documents. Know more about [...]

2023-03-31T06:24:17+00:00
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The Process To File For Chapter 13 Bankruptcy

Call: 888-297-6203 Planning to file for bankruptcy but want to keep all of your properties? File Chapter 13 bankruptcy where you can repay a portion of your debts while keeping all your properties for 3-5 years. Here is the process and what to expect when moving forward with Chapter 13 bankruptcy filing. Preparation for filing. Before you are eligible for filing you will need to take a credit counseling course. You will need to complete it within 6 months of the time when you file. You can also do it online but it should be from one of [...]

2023-03-31T07:20:48+00:00
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Steps To Achieve A Score Of 700 Within 12 Months Of Bankruptcy

Call: 888-297-6203 A credit score is something that needs a steep recovery once the bankruptcy is completed. Whether chapter 7 or chapter 13 bankruptcy, credit score can have effects of bankruptcy seen for several years. The impact on credit score can be for 10 years for chapter 7 and 7 years for chapter 13. Log on to https://recoverylawgroup.com/bankruptcy/ to learn more about the impact of bankruptcy on credit score. How much credit score is enough? A figure of 700 is a great score to attain especially after a bankruptcy. The number 700 opens several low-cost credit opportunities which [...]

2023-03-31T07:27:20+00:00
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What Is A Bankruptcy Court?

Call: 888-297-6203 There are ninety-four (94) judicial districts and all of the judicial districts handle bankruptcy matters. Almost all districts have bankruptcy courts that handle bankruptcy cases and bankruptcy cases cannot be filed under the state court. Bankruptcy laws help debtors who no longer are able to keep up with their debts and pay the creditors. If it becomes unbearable and compromises the standard of living, the bankruptcy law helps them by the liquidation of assets of the debtors (chapter 7 bankruptcy) or by making a repayment plan (chapter 13 bankruptcy). Bankruptcy laws also provide protection to troubled [...]

2023-03-22T09:22:51+00:00
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Bankruptcy Process; Chapter 13 Vs Chapter 7

Call: 888-297-6203 The bankruptcy process can be broadly classified based on the chapter you choose. We list some of the steps or procedures which you may come across while filing bankruptcy under the respective chapters below. This might not be an all-inclusive list. Bankruptcy is a very vast subject, and it needs loads of information from experts. Find all the bankruptcy-related information on https://recoverylawgroup.com/bankruptcy/. How does a Chapter 7 bankruptcy work? Chapter 7 bankruptcy is often referred to as the ‘liquidation chapter’ as it deals with the liquidation of assets to settle the debts of the lenders. The [...]

2023-03-31T07:31:28+00:00
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Debt Consolidation Vs Bankruptcy

Call: 888-297-6203 Debt consolidation is a very good alternative compared to bankruptcy as it helps in maintaining credit score, and reputation, and pays off all the debts at a revised favorable alternative. However, people with irregular or low income cannot avail the benefits of debt consolidation. This can be the sole reason why many people often opt for bankruptcy as they can have something to survive and reboot their life on a clean slate. Chapter 7 or Chapter 13 bankruptcy can help in achieving the goal for people who are not eligible for debt consolidation. Know more about [...]

2023-03-31T07:34:39+00:00
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Chapter 13 And Its Hardships: Is It Worth It?

Call: 888-297-6203 Chapter 13 bankruptcy is another bankruptcy form that helps in exiting dire financial situations. Chapter 13 is an attempt to repay the maximum portion of debt possible through a consistent income source over a period of 3-5 years. This isn’t the most common bankruptcy form as almost 70% of the bankruptcy filers prefer Chapter 7. So, why do we even have Chapter 13, and is it even beneficial sometimes? Chapter 13 benefits and hardships Chapter 7 allows for a discharge of debts especially the unsecured ones fully. Chapter 13 bankruptcy is a promise to continue hardship [...]

2023-03-31T07:35:56+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.