affordable Chapter 13 bankruptcy Los Angeles

Vehicle Repossession in Bankruptcy

Debts against which the creditor has collateral are known as secured debts. Examples of secured debts include automobile loan, mortgage, etc. Since both these are essential for living a comfortable life, it is important that you are not behind on payments for such loans. Having a vehicle has become a necessity these days, considering that commuting time is considerably reduced due to them. Missing payments on your automobile loan can have severe consequences. The lender can repossess the vehicle if you end up missing payments. However, having experienced lawyers like those of Los Angeles based bankruptcy law firm [...]

2019-09-19T12:01:02+00:00
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Points to Consider While Contemplating Bankruptcy

Call: 888-297-6203 Managing your finances is easier said than done. Many people find it difficult to manage their financial problems leading them to consider various debt relief options like debts settlement, debt consolidation, and even bankruptcy. Sometimes, just adjusting your spending patterns is enough to manage your debts, while sometimes, you might require the assistance of professionals to get rid of your debts. Though bankruptcy has earned a bad name, according to Los Angeles based bankruptcy law firm Recovery Law Group, it is probably one of the better ways to manage your situation. However, before deciding to go [...]

2021-12-07T04:43:26+00:00
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How Easy is it To Purchase a Home After Bankruptcy?

Though it is an excellent way to get rid of unsurmountable debts, bankruptcy has its downside too. Your credit report can remain affected by your bankruptcy for a long time. Bankruptcy remains on your credit record for a duration of 7 years in case of Chapter 13 bankruptcy and 10 years in case of Chapter 7 bankruptcy. This has a detrimental effect on your ability to get credit in the future. Though you may find it difficult to purchase a home after bankruptcy, lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, say, it is not [...]

2021-12-07T04:46:53+00:00
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Which Financial Situations Could Warrant a Chapter 7 Bankruptcy?

Call: 888-297-6203 Managing finances is a tricky affair. People often find it difficult to keep their finances above board. However, there can come a time, when you might have to consider bankruptcy as an option. Individuals can opt for Chapter 7 or Chapter 13 bankruptcy; however, the former is preferred. According to Los Angeles based bankruptcy law firm Recovery Law Group, the situations where Chapter 7 bankruptcy is the best way out include: Majority of your debts are due to excessive use of credit cards. Heavy reliance on credit cards can lead to an excessive amount of loans [...]

2019-09-10T11:53:18+00:00
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Passing the Means Test is Essential for Chapter 7 Bankruptcy Eligibility

Call: 888-297-6203 Filing for bankruptcy is a decision that takes time. Earlier, until 2005, the bankruptcy chapter was decided by the bankruptcy judge. If they found that the debtor was unable to repay the debts, then they could file for Chapter 7 bankruptcy and get a discharge of all their debts. However, if there was scope to repay debts, they were required to file for Chapter 13 bankruptcy. With streamlining of the process, things have become much easier to understand, say Los Angeles based bankruptcy law firm Recovery Law Group lawyers. People can convert their bankruptcy chapter (Chapter [...]

2019-09-10T11:52:43+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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Status of Pets in Chapter 7 Bankruptcy

People in Los Angeles love to keep pets like horses and dogs. When they need to file bankruptcy, the fear of losing them in the procedure is quite high. Most of them shy off from applying for chapter 7 bankruptcy since they do not want to lose their pets. They love their pets and treat them like family members. However, the court needs to investigate many things before allowing pets to be exempted. Applicants looking for some valuable advice to keep their pets must visit- Recovery Law Group. How can an applicant exempt their pets in a bankruptcy [...]

2019-08-07T11:32:31+00:00
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Bankruptcy and Business Continuity

The common illusion about bankruptcy is that a business might have to wrap up after bankruptcy or business will not be able to continue after bankruptcy. However, this might not be true in most scenarios. There are different sections under which bankruptcy could be filed, these maybe Chapter 7 or 11 or 13. The company structure, business activity, assets and the fixed or probable income available to fund a repayment schedule can help in determining the right section to file bankruptcy. Factors of consideration for business continuity Is the business really making money? Not every startup idea is [...]

2023-01-12T09:18:27+00:00
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We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.