Debt Collectors

Can I Lose My Rental Property On Filing For Bankruptcy?

Call: 888-297-6203 While filing for bankruptcy, though exemptions protect your house, your rental property (apartment, commercial space, etc.) might be under threat. Depending on whether you are filing for chapter 7 or chapter 13, the fate of these properties are decided, say lawyers of Los Angeles law firm (https://www.recoverylawgroup.com/bankruptcy/). Rental property in chapter 7 While filing for Chapter 7 bankruptcy, any property that is exempt (under federal or state laws) can be kept by the debtor. Most states allow homestead exemption up to a dollar amount while others might allow protecting the entire interest of the debtor in [...]

2022-06-15T04:32:13+00:00

Steps To Get Lien Off A Title After Bankruptcy

Call: 888-297-6203 According to bankruptcy lawyers of Dallas based law firm (https://www.recoverylawgroup.com/bankruptcy/), you can either get your debts reaffirmed i.e. continue paying for them or get them discharged. Sometimes, lenders might contact the court prior to a bankruptcy filing and have a judgment against you. Sometimes, this might result in a lien against your property. When this happens, the property cannot be sold or transferred utill the lien is removed. Sometimes, even after getting the debts discharged through bankruptcy, you might still have a lien on the property. If this happens, you need to follow these steps to [...]

2022-06-15T03:55:35+00:00

Nonconsensual Lenders And The Bankruptcy Court

Call: 888-297-6203 Bankruptcy can be filed with Chapter 11 or Chapter 13 or Chapter 7. If a business the options further narrow down to Chapter 11 or Chapter 7. In other words, Chapter 13 is something exclusive for the individuals. Chapter 7 deals with liberating debts in exchange for assets and Chapter 13/11 deals with a future payment plan that aims at fulfilling the majority of the debts in the period of 3-5 years. Most of all the assets of the business or an individual can be safeguarded under Chapter 11 or 13. To know more about each [...]

2022-05-31T06:32:12+00:00

Federal Tax Liabilities And Bankruptcy

Call: 888-297-6203 Federal income tax dues are non-dischargeable debts and getting relief from them can be extremely difficult. IRS can sue the debtor for an asset lien to recover dues, interest, and penalties. To stop the collection of dues from lenders like IRS, filing for bankruptcy can put their collection attempts to a temporary stop until the bankruptcy court arrives at a certain judgment. This relief sometimes can prove very important in financially draining situations. Know more about bankruptcy and its impacts on https://www.recoverylawgroup.com/bankruptcy/.  Federal tax dues and penalties or interest are taken very lightly unless it is [...]

2022-05-31T06:15:03+00:00

Eviction From Rented Property And Bankruptcy

Call: 888-297-6203 Bankruptcy can assist in safeguarding home and preventing home foreclosures. But what happens when a filer is in a rented property? This is a tricky question and a very common one across potential bankruptcy filers. If you are current on your rents, then it shouldn’t be an issue to prevent eviction from your home or an apartment. But if you are not, then the landlord has every right to pursue a possession and eviction judgment from respective authorities. Bankruptcy has different consequences depending on whether a landlord has achieved a judgment of eviction and possession or [...]

2022-05-31T06:04:33+00:00

Debts That Are Non-Dischargeable Even If You File For Bankruptcy Under Chapter 7

Call: 888-297-6203 Filing for bankruptcy does not mean that you will get rid of all (100%) of your debts. Though most of the debts are discharged, nonetheless, there are a few which remain even after you file for bankruptcy. Non-dischargeable debts under chapter 7 Student loans Federal, state, and local taxes Domestic support obligations Government-imposed restitution fines and liabilities Court fees Debts arising out of injury from drunken driving Non-dischargeable debts due to objection from Creditors Frauds Luxury goods purchased 3 months before filing for bankruptcy Cash advances taken within 3 months before filing Due to willful or [...]

2022-05-05T05:21:41+00:00

Does Filing For Personal Bankruptcy Result In Closing My Business Too?

Call: 888-297-6203 According to lawyers of Dallas based law firm, when an individual files for chapter 7 bankruptcy, they might have to close their business down. However, if it is an LLC or a corporation, despite being personally liable for significant amount of debt, you might be able to keep it running. Here is what happens in different types of businesses during a bankruptcy filing: Sole proprietorship In this case, the trustee might ask for the business to be closed till an assessment of its value, exemption status and sale price of business assets in your bankruptcy estate [...]

2022-03-09T05:41:00+00:00

Tips to Find The Perfect Insolvency Attorney in Goodyear, Arizona

Call: 888-297-6203 Falling short of funds and incapability to pay back financial obligations may put you under tremendous pressure, and can prove fatal for your family’s future. Although right now everything may seem a little bleak, all is not lost. Getting the right professional help at the right time will certainly bring you out of this mess. Research and hire a competent bankruptcy attorney for yourself who has the suitable knowledge and background to successfully handle your type of case just like Recovery Law Group (call on 888-297-6203). Finding the Right Lawyer! Check on the web for reviews [...]

2021-05-26T04:51:43+00:00

Worried About Huge Debts? Bankruptcy Help is Available

Financial troubles can hit anyone anytime, however, this should not be the cause of worry for you. People have come out of worse conditions unscathed. According to Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is one of the best ways to get rid of a huge amount of debts without causing much strain on your life. There can be several reasons why a person ends up accumulating large amounts of debts, such as bad financial decisions, unexpected job loss, huge credit card bills, sudden medical emergencies, etc. Irrespective of the reason, bankruptcy can help you [...]

2021-12-07T06:28:41+00:00

Criminalizing Private Debts

There are criminal proceedings on defaulters on the debts that they owe to creditors. Let’s take a scenario where the debtor has fallen sick and has missed out on the payments that he/ she regularly makes. The notices about missed payments have just been ignored since the debtor is away on treatment. The piled up debt now invites court hearings – the intimations of these too have not been attended to and this eventually turns out to issuing of warrants for the arrest of the debtor for the failed payments. This is not a surreal scenario and can [...]

2021-12-07T09:14:54+00:00
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