Credit and Bankruptcy

What To Expect In A Creditor Lawsuits?

Call: 888-297-6203 When a creditor or collection agency sues you for non-payment of debts, you are served with a complaint and must respond to it. Once you respond to the suit, the process starts with discovery, settlement conferences, motions for summary judgment, and a trial. Creditor lawsuits can be divided into routine and non-routine cases. In the former case, you receive a notice for a trial and date from the plaintiff. Sometimes, you might be sent a notice of settlement conference before the trial date. Ensure that you attend the settlement conference or trial. in a non-routine debt [...]

2023-04-19T10:21:27+00:00
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Misconceptions That People Commonly Have About Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is not easy, most importantly due to the commonly held fears that people hear and believe in. it is nothing to be embarrassed about or be scared of. Listed below are a few common misbelieve that people have- People Judge you – NO one has soo much time to sit and judge you, so you needn’t be embarrassed. The attorney and judge are busy doing their work and no is going to judge you on thoughts like you are filing to dodge debts or that you have bad financial skills. Bankruptcy can happen [...]

2023-04-19T10:18:30+00:00
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What To Do If You Wish To Keep Your Car In Chapter 7 Bankruptcy?

Call: 888-297-6203 Chapter 7 bankruptcy allows you to keep important property, including a vehicle. However, if the vehicle is an expensive model, has a lot of equity in it, or you cannot afford to make the payments, you might end up losing it. While filing for bankruptcy, you are allowed to protect some amount of personal property, including equity in the vehicle, home, household appliances, etc., using various exemptions provided by the state or federal government. The motor vehicle exemption is specifically meant to protect cars in Chapter 7 bankruptcy. What happens if the equity in the vehicle [...]

2023-04-19T11:20:30+00:00
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What All You Need To Know While Preparing For A Meeting With The Trustee?

Call: 888-297-6203 Trustee meeting is a very essential aspect when filing for bankruptcy. This meeting is also referred to as “341 Meeting” or “Meeting of Creditors”. What is a trustee meeting? The basic criterion of the trustee meeting is the oath-taking confirmation. Here, the trustee, under oath will first confirm your identity by verifying your Photo ID as well as your Social Security card. Post this, the trustee will require your first-hand confirmation to signing of the bankruptcy petition papers along with your signatures. This is done to prevent any kind of malpractice or deceptive act. The above [...]

2023-04-19T10:11:44+00:00
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Steps On Choosing A Good Bankruptcy Attorney

Call: 888-297-6203 Filing for bankruptcy is not an easy decision for people to make. A good and experienced attorney can help to relieve you of the stress, as well as also guide you to make the correct decisions to resolve your debt the correct way. While hiring a bankruptcy lawyer, it is important that you consider the following points – Credentials and Associations – Bankruptcy is a very complex matter and a single wrong step might put you in a fix or even make you lose the case. Therefore it is important that when you hire an attorney, [...]

2023-04-19T10:07:59+00:00
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Effect Of Bankruptcy On Your Credit

Call: 888-297-6203 People contemplating bankruptcy filing are often worried about how it will affect their credit score. However, if your credit is already underwater, bankruptcy would not significantly affect it. In fact, it may help you improve it in the long run. People with good credit scores might see a huge drop in the same after filing for bankruptcy. Though the bankruptcy chapter does not make much difference in your credit score, some creditors might consider you a better credit risk if you filed for bankruptcy under chapter 13. This is because you repaid some of your debts [...]

2023-03-30T10:20:12+00:00
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Effects of Bankruptcy on Credit

Call: 888-297-6203 People filing for bankruptcy are often scared about the effects of it on their loved ones. Debtors often believe that their credit gets merged with their spouse’s credit or that the liability of their debts will fall on their children in case they are still remaining at the time of death. Such rumors are untrue and misleading. Firstly, the credit scores of the spouses are independent of each other. The credit score of one partner might be extremely good while the other’s may not. Sometimes, one spouse owes all the unsecured debts while the other has [...]

2023-04-06T09:42:24+00:00
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Can Being A Co-Signer Or Co-Debtor Be Harmful For You?

Call: 888-297-6203 If you do not have a good credit score, getting mortgage or automobile loan might be difficult unless you have a co-signer for your loan who has a good credit score. However, a co-signer is equally liable for the debt as is the primary debtor, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. This can be detrimental for the co-signer, especially if the debtor ends up filing for bankruptcy. This occurs in case of job loss or divorce. In case, the co-signer is the spouse, they will be required to pay for [...]

2023-04-06T08:56:50+00:00
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Bankruptcy – The Public Record Which Appears on Your Credit Report

Call: 888-297-6203 Earlier three types of public records were reported on the credit report of any individual, however, now just one – bankruptcy is reported in the credit history. Bankruptcy is generally the last resort for people who have tried in vain to get rid of their debts. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, elaborate that different bankruptcy chapters can have different repercussions on your credit history. In Chapter 7, the filer does not pay any debts; any non-exempt property they have is sold off to pay their creditors. This type of bankruptcy [...]

2019-09-09T11:44:52+00:00
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Is it Possible to Get Credit Card after Bankruptcy?

One of the ill effects of filing for bankruptcy is that it becomes public record and appears on your credit report. This makes it difficult for people who have recently got bankruptcy discharged to get any credit. According to Dallas based bankruptcy law firm Recovery Law Group, this is a major concern for most people. Though you might get credit, it will be at terms which will be outrightly ridiculous like high-interest rate, larger down payments (in case of a mortgage), etc. Unfortunately, you might have to wait for some time to qualify for a new credit card [...]

2021-12-07T05:48:07+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.