Chapter 7 Bankruptcy

What Is Chapter 7 Bankruptcy?

Call: 888-297-6203 Here you will get to know what chapter 7 bankruptcy is and what properties can be exempted and how you can get the maximum benefit. DISCLAIMER- This is not necessarily to be applied to your case, all depends on which state you are in and what is your financial conditions. To know more about your situation contact a good bankruptcy legal counsel. If you live in or near Los Angeles & Dallas, TX, contact Recovery law group-(888-297-6203). Chapter 7 bankruptcy?  Chapter 7 bankruptcy is also called straight bankruptcy, it has no repayment plan and usually, it [...]

2023-04-19T13:14:36+00:00
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Secrets About Bankruptcy That No One Tells You!

Call: 888-297-6203 Bankruptcy is not a bad shameful thing to do, it is done so that people who have huge debts are released from it and can have a secured financial future and enjoy it. Secret #1- you do not lose all your property if you file for bankruptcy. Under Illinois law, you are allowed to keep necessary things like home, car, and furniture to start your new fresh life but there is a limit to the value of things. It is exaggerated by the credit industry so the fear remains. Secret #2- You don’t have to be [...]

2023-04-19T11:52:43+00:00
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The Timeline That You Will Need To Follow While You File For Bankruptcy Under Chapter 7

Call: 888-297-6203 In terms of information providing for chapter 7 bankruptcy, it is technical in terms but the process is straightforward. The process to file is almost the same everywhere but it might vary from state to state. Here are the stems that are common in most of the states. Consultation- You should first consult a good attorney presenting your financial status, the attorney will guide you through the process and tell you whether you need to go forward with chapter 7 or chapter 13. Sometimes the attorney may do so with no cost. For a good attorney [...]

2023-04-19T12:14:32+00:00
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Can Parking Tickets Be Discharged In Chapter 7?

Call: 888-297-6203 Under chapter 7 some types of parking tickets can be discharged. These are the following – parking tickets; red light tickets; standing compliance; automated speed enforcement (cameras); and, automated traffic law enforcement (cameras). Parking tickets-  All tickets which are older than 3 years from the date of filing can be waived off under chapter 7 bankruptcy. If the tickets are lesser than 3 years, you will have to pay the original amount. Normally if the ticket is $50 then after the deadline it doubles into $100. So if you are filing for Chapter 7 bankruptcy, it goes back to [...]

2023-04-19T12:10:32+00:00
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Can I File For Bankruptcy More Than Once?

Call: 888-297-6203 You file bankruptcy when you are in a financial dilemma and it might happen more than once but the bankruptcy law restricts how many times you can file for bankruptcy. Here are some factors on which it is determined. Your first bankruptcy case - dismissed or discharged? Your first case might have gotten dismissed by the court due to some reasons like, you might not have been able to provide the documents to the court or your bankruptcy trustee asked you to submit, you were not able to pay for the filing fee, or you did [...]

2023-04-19T11:49:56+00:00
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Use This Legal Primer To Help You With Reaffirmation In Chapter 7

Call: 888-297-6203 When a Debtor plans to reaffirm, it so happens at times that either its Creditors or opposing parties, or the regulators or bar counsel who have never filed a case or helped anyone in their life, advice the debtors on things they aren’t sure themselves, and the debtors are often misled. This article will help you know the depths and details of reaffirmations, which, though important, have been neglected, and created confusion since 2005. 1) There is not 1, but many options to keep your Assets as they are. So fretting won't help you. Remember, chapter [...]

2023-04-19T12:13:25+00:00
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Your Consumer Guide To All Things Related To Bankruptcy

Call: 888-297-6203 If you are struggling with financial issues, bankruptcy can be an excellent way to get rid of your debts. While bankruptcy can prevent repossession and foreclosure, it cannot help you if the sale process has been completed and your property's interest in the collateral is terminated. It can also stop creditor harassment and eliminate some of your debt while protecting your property; however, its effect on your credit score cannot be denied. So, if your credit score is already bad, filing for bankruptcy might help you improve your credit score. This is because, after bankruptcy, you [...]

2023-04-19T12:05:11+00:00
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Creditors Rights And Protection Of Judgement Debt In Bankruptcy

Call: 888-297-6203 For creditors who hold a large amount of disposable income, there is always a risk when they give money to individual debtors, that the debtor will pursue a chapter 7 bankruptcy to avoid the payment. 1) A creditor can convert a chapter 7 bankruptcy case to a Chapter 11 bankruptcy case by filing a motion The creditors have a power under section 706(b) that allows them to convert any case into chapter 11 whether the debtor's debts are of consumer or business nature. U der section 707 of the code, if a Debtor's debts are of [...]

2023-03-30T13:23:33+00:00
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Can Bankruptcy Help Save Your Business And Home?

Call: 888-297-6203 Monetary problems have become extremely common these days, considering that the pandemic has resulted in job loss, huge amounts of medical debts, as well as credit card debts. In addition, this has resulted in business closures, foreclosure, and repossession of properties which can cause tremendous stress to people. Filing for bankruptcy may be your way out of this financial mess. Many people often have multiple properties, usually purchased by taking a loan. Individuals live in one, the remaining properties are let out. They depend on their tenants to pay for the mortgage. However, unfortunate circumstances can [...]

2023-04-19T11:46:54+00:00
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The Basic Difference Between Chapter 7 And Chapter 13

Call: 888-297-6203 There are two types of bankruptcy, and it is managed at the federal level, so the principles of it are the same everywhere except California. Chapter 7? In chapter 7 bankruptcy, the process called liquidation is followed, here you sell your assets to a trustee who in turn sells them to settle your debt. Most of your debts can be settled here except, some like student loans, alimony, etc. most dischargeable debts are emitted but first you have to pass the means test. There are 2 ways to take the test, Form 122A-1: Chapter 7 Statement of [...]

2023-04-19T12:12:35+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.