Credit and Bankruptcy

Bankruptcy Discharge: Myth Or Possibility

Call: 888-297-6203 Discharge of debts often seems a lucrative consideration for people considering bankruptcy. A bankruptcy discharge is a phenomenon that is a side effect of declaring bankruptcy. Discharge can occur in all bankruptcy filings whether via Chapter 7, 13, or even 11 (for businesses). However, the amount of discharge remains variable that depends on different circumstances and situations of the applier. It is also important to note, that the repeat bankruptcy filers may end up with no or zero discharge if they have not completed the seasoning or the cool-off period. To know more about the cool-off [...]

2023-03-22T09:34:06+00:00
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Secured Debt Vs Unsecured Debt

Call: 888-297-6203 Secured debt is a debt form that is usually backed by an asset or collateral. These debts are usually of larger amounts and since they have a lien attached to them, they become important during the bankruptcy claims. A secure debt can broadly be classified into two types. Real property secured debt and personal property secured debt. Any debt that is secured by house, land, or any other real property by nature falls under the real property secured debt, and any debt that is secured under personal property like a car, motorbike, electrical appliance, etc., come [...]

2023-03-31T08:22:42+00:00
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How To Tackle Excessive Credit Card Debt?

Call: 888-297-6203 Credit card debt is one of the biggest traps in which most borrowers find themselves in today. In the name of lucrative offers, the high-interest rates, charges, and beyond capacity spending, confines many borrowers to a debt cycle that is very profitable to the banks but extremely challenging for the debtors. If a borrower has multiple credit cards and the limits of the credit cards are higher than the income one has, there are strong indications that the borrower may end up filing for bankruptcy. Implications of not paying credit card debt The first thought any [...]

2023-03-31T08:24:09+00:00
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Let Us Analyze The Pros And Cons Of Bankruptcy

Call: 888-297-6203 Bankruptcy has many impacts on the applier. The decision of bankruptcy is more on the situation and not on Pros and Cons. But discussing the same will help in deciding whether even in stressful situations, bankruptcy makes sense. Also, it prepares an individual inching towards bankruptcy for the future consequences of the same. Stay order In many situations, you are desperate to maintain a stay order to protect your assets or to safeguard them against lender liens. This can be a very difficult task especially when you have defaulted on several payments and the lender isn’t [...]

2023-03-31T08:28:46+00:00
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What Are Bankruptcy Exceptions?

Call: 888-297-6203 Bankruptcy exemptions are properties that are protected by the court from liquidation to repay the creditors. It is there in both bankruptcy codes and state laws. If you don't claim your exemption, the property will not be protected in your bankruptcy case. Why do bankruptcy exemptions exist? They exist so that the bankruptcy filers get a fresh start but don't have to start from scratch. They are in place so that you can keep some of the property. Who can claim bankruptcy exemptions?  Only individuals and married couples can claim exemptions as it is there to [...]

2023-03-31T08:32:12+00:00
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Super-Quick Guide To All You Need To Know About Bankruptcy

Call: 888-297-6203 Bankruptcy is a complex process. However, we will try to debrief the same in a super-quick short way for faster understanding. When you realize you are not going to be able to pay some debts and you are already defaulting on a few, you might consider bankruptcy to eliminate some of the debt to make your life less miserable. The ultimate aim of bankruptcy is to discharge some debts and reinstate some stable financial status to ensure life is less stressful. Benefits of bankruptcy Bankruptcy provides immediate relief. Once the bankruptcy is applied, you become immune [...]

2023-03-31T08:35:40+00:00
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Chapter 7 Or Chapter 13, Which Is Best For You?

Call: 888-297-6203 Bankruptcy might be an ultimate resort for many. However, it is equally important to make the right choice while applying for bankruptcy. Bankruptcy might seem the dead-end, but it ends up offering some choices. The choices could be critical in determining the fate of your assets, future, scars prevailing due to bankruptcy, and various other factors. Below we discuss some key aspects to consider before making a Chapter 7 or Chapter 13 option. It wouldn’t however be a bad idea to hire a good attorney to guide you through the process via https://recoverylawgroup.com/bankruptcy/ to ensure no [...]

2023-04-06T08:37:51+00:00
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Step By Step Guide To Addressing Bankruptcy And Piling Debt

Call: 888-297-6203 Debt has been one of the most common villains currently in many people's lives. Due to uncertain conditions, changes in economic dynamics, increased competition, lack of jobs, etc., piled-up debt is the story of every second household. Many magazines and stats suggest that consumer debt has blown off the roof in recent times. The reason can be many starting from health expenditure, overspending, unemployment, gambling, and mismanagement of money, it is important to distance oneself from the lucrative ads that offer a quick fix. The solution to piling debt or bankruptcy needs to be addressed cautiously [...]

2023-03-31T08:40:48+00:00
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Bankruptcy – Yes Or No?

Call: 888-297-6203 Bankruptcy is a big decision and to consider or not consider bankruptcy there must be a careful review. A wrong decision can not only add to the misery currently and at the same time leave scars for several years. To make the decision easier, below we list some aspects of bankruptcy below- When to consider bankruptcy Bankruptcy sometimes becomes inevitable or unavoidable due to the following reasons- Injury, illness, disability, long term medical treatments, or hefty medical bills Divorce is around the corner which might further add to financial vows Lenders are foreclosing on assets like [...]

2023-01-17T14:02:11+00:00
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How To Deal With Bankruptcy During Retirement?

Call: 888-297-6203 Old age is defiantly a tough time. After living a luxurious life with regular earnings and expenditure, when you become dependent on social security as your bank balance life gets tough. Moreover, With the ever-increasing rise in tax rates and decreasing pension amounts, many senior citizens are finding themselves filing for bankruptcy. This is because the fixed source of income goes down whereas the health care expenses and tax amount go down, many find it difficult to create a balance between both. Let's find out the benefits or drawbacks that a senior might face if they [...]

2023-03-31T08:42:02+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.