bankruptcy attorney Los Angeles

Can A Student Loan Be Discharged During Bankruptcy?

Call: 888-297-6203 With the uncertainty in the job market, it is very difficult for freshers to avail jobs, and close their student loans. Many universities that have promised a placement, are not able to fulfill their promise fully leaving a lot of students scampering for a job in helplessness. However, it is unfortunate that declaring bankruptcy also cannot discharge student loans under most circumstances. The bankruptcy laws had some provisions earlier that allowed for a student loan discharge that was availed from Fed sources. These are nothing but some qualified loans granted by Fed at lower interest rates [...]

2023-03-31T06:20:27+00:00
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How Do You Tackle The Challenge Of Debt Discharge By Lenders?

Call: 888-297-6203 Often debt discharge is quite common for unsecured debts while availing relief during bankruptcy. However, it is important to note that the lenders will leave no stone unturned to get some or all of their money back. One of the most common ways of preventing discharge amongst the bankruptcy filers is to prove that the debt was facilitated by an act of fraud. If a bankruptcy filer provided any incorrect information while availing of unsecured debt, the applicant might be liable for the debt and other criminal procedures. The overall discharge of the debt in question [...]

2023-03-31T06:22:34+00:00
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Chapter 13 And Its Hardships: Is It Worth It?

Call: 888-297-6203 Chapter 13 bankruptcy is another bankruptcy form that helps in exiting dire financial situations. Chapter 13 is an attempt to repay the maximum portion of debt possible through a consistent income source over a period of 3-5 years. This isn’t the most common bankruptcy form as almost 70% of the bankruptcy filers prefer Chapter 7. So, why do we even have Chapter 13, and is it even beneficial sometimes? Chapter 13 benefits and hardships Chapter 7 allows for a discharge of debts especially the unsecured ones fully. Chapter 13 bankruptcy is a promise to continue hardship [...]

2023-03-31T07:35:56+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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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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Bankruptcy And Business Arrangements

Call: 888-297-6203 The pandemic era has brought a lot of businesses under the weather. This has led to many small businesses moving towards bankruptcy. As per several research magazines, it was predicted that almost 33% of small businesses in the United States ended up halting their operations permanently or with an uncertain future. Loan forgiveness grants from the government probably protected the 66% of other small business units that were also on the brink of shutting down probably. Factors to consider while thinking of bankruptcy The factors associated with businesses are far more complex and intriguing. Expert guidance [...]

2023-05-19T06:24:15+00:00
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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 [...]

2023-06-27T07:44:26+00:00
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Read Chapter 7 Bankruptcy Exemptions

Call: 888-297-6203 People who are filing for bankruptcy do not make their decision lightly as it will affect them severely. They file because they are in an extreme financial crisis and want a new start but especially in chapter 7 bankruptcy case they fear losing all their assets to the court in return for their discharge of debts. This is the reason there is a bankruptcy law for exemptions that is properties that are necessary for a person to start fresh after the bankruptcy case is exempted. Assets like a car, home, furniture, etc are exempt properties. Chapter [...]

2023-01-19T07:01:58+00:00
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Corporations And LLCs Can Use Chapter 7 Bankruptcy To Get Rid Of Debts

In the case of business bankruptcy, an outsider is responsible for the liquidation of your assets and settling of the debts. A corporation or an LLC can file under chapter 7 business bankruptcy which is different from personal bankruptcy under the same chapter. As per lawyers of Los Angeles based law firm  the business stops operations and is handed over to the trustee for liquidation under the court’s instructions. The business assets are liquidated to repay the creditors. Since exemptions are not applicable here, the entire company can be liquidated. Once the liquidation of assets takes [...]

2023-04-21T12:09:07+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.