affordable Chapter 13 bankruptcy Los Angeles

Key Factors That Swing Balance Across Chapter 7 And Chapter 13

Call: 888-297-6203 Chapter 7 and Chapter 13 are the two most important chapters in bankruptcy. Some characteristics that swing the balance to Chapter 7 or Chapter 13 for an applier can be listed as follows- Consider Chapter 7- If you have a higher percentage of unsecured debt, chapter 7 can be beneficial. These can be medical bills, credit card dues, personal unsecured loans, payday loans, and other loans which do not have collateral. To know a more in-depth analysis of what kind of debt you have and whether chapter 7 is appropriate, log on tohttps://recoverylawgroup.com/bankruptcy/  If you have [...]

2023-03-31T08:21:46+00:00
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Repossession Post-Bankruptcy

Call: 888-297-6203 During bankruptcy, many assets may be liquidated, which means the bankruptcy filer might end up losing possession of the asset. However, once an asset is lost during bankruptcy need not be the last resort. If the filer feels he/she needs the asset dearly, there are possibilities for the filer to reclaim it. The whole process of reclaiming an asset after being liquidated is referred to as repossession post-bankruptcy. In detail, a debt that is backed by an asset once liquidated, the lenders or creditors get the possession of the asset from the filer. This usually is [...]

2023-03-31T08:12:11+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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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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Different Bankruptcy Options For The Individuals

Call: 888-297-6203 Bankruptcy presents a few options to individuals that either protect the assets and block a significant amount of future income or the assets are liquidated to clear any lien on future income. This is a choice that can be based on the convenience of the borrower. The below list of options during bankruptcy can provide a broader perspective for a borrower- Liquidation under Chapter 7 This is probably the most common form of bankruptcy that accounts for up to 70% of bankruptcies in the year 2020. The reason for this being very common is that most [...]

2023-06-27T05:42:22+00:00
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All You Need To Know About Chapter 7 Bankruptcy Means Test

Call: 888-297-6203 When there is unmanageable debt and you don't see a secured financial future of yours then unwilling you have to file for Bankruptcy. Chapter 7 bankruptcy in most cases is the best aid to a debtor. Here almost all the debts are cleared but the court doesn't just let anyone file for chapter 7 liquidation bankruptcy. To separate those debtors who can repay some of their debts, the US bankruptcy code has a 'means test' to see who qualifies for chapter 7 bankruptcy and who doesn't. The means test compares the last 6 months of income [...]

2023-04-21T12:25:46+00:00
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Let Us Know More About Bankruptcy Petition

Call: 888-297-6203 The first step when you file for bankruptcy is to complete the bankruptcy petition. The petition includes multiple forms that need details of all your debts, assets, incomes, and expenses. Once you file a petition the creditors are stopped from taking any more money from you. A petition can be filed for either Chapter 7 or chapter 13 bankruptcy. Chapter 13 will help you clear your debts where you can keep some of your assets, while chapter 7 will allow you to quickly clear your debts by selling your assets. It is advisable to talk to [...]

2023-06-05T12:59:19+00:00
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Bankruptcy And Its Types

Call: 888-297-6203 The most common types of bankruptcy available for individuals and sole proprietorship businesses include: 1) Chapter 7 This is also known as straight bankruptcy. It will help you take away most of your unsecured debts including medical bills and credit card bills. The deficiency debt following the surrender of any collateral such as a house or car will also be wiped out through this chapter. However, it will do so by selling off your assets. If you want to keep any of your assets you have to make sure to exempt them beforehand. There are several [...]

2023-04-21T12:23:00+00:00
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The Commonly Asked Questions (FAQ) Regarding Chapters 7, 13 And 11

Call: 888-297-6203 The most commonly asked questions related to bankruptcy include – Can anyone file for bankruptcy? – yes, anyone except a business entity can file for bankruptcy. What are the prerequisites for hiring an attorney – the most important factor is his specialization. The attorney must have expertise in bankruptcy law. What do you mean by credit counseling? – credit counseling course is of utmost importance before filing for bankruptcy. If you do not attend the same, your case may get dismissed in the initial phase only. You can get the list of agencies providing the course [...]

2023-03-30T11:39:52+00:00
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What Is Chapter 7 Debt Discharge?

Call: 888-297-6203 In chapters 7, 11, 12, and chapters 13 of the US bankruptcy code, some or all of your debts are discharged, that is you will not be liable to pay it back and the creditors you owe like the credit card company or hospitals will not be able to take collection actions against you. You are no longer liable for the debt as it is permanently discharged by the bankruptcy court. How does the court discharge your debt of not taking your money?  They give you debt relief in turn for your non-exempt properties. Chapter 7 [...]

2023-03-30T11:44:19+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.