bankruptcy attorney Los Angeles

What happens to Your Vehicle in Chapter 13 Bankruptcy?

Chapter 13 bankruptcy allows you to catch up on previous dues and make arrangements to clear your secured, priority and unsecured debts through a repayment plan. Unlike Chapter 7, you can keep all your property in Chapter 13 bankruptcy if you pay your unsecured creditors the amount of non-exempt property you are keeping. This chapter of bankruptcy, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, can help you catch up on mortgage and car loan payments and also help in reducing the amount owed in the latter case. Sometimes, even Chapter 13 bankruptcy might [...]

2023-04-11T08:22:08+00:00
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FAQs Related to Chapter 7 Bankruptcy

Bankruptcy can be quite confusing. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, confirm that there are numerous questions that people have regarding bankruptcy process and discharge. You can ask bankruptcy lawyers at 888-297-6023 about issues related to various bankruptcy chapters. Here are some FAQs related to Chapter 7. What is Chapter 7 bankruptcy? Also known as “Liquidation Bankruptcy”, Chapter 7 bankruptcy is an ideal way to get a fresh start as it wipes off most types of debts. In this case, any non-exempt property that you have is liquidated by the bankruptcy trustee and [...]

2021-12-07T08:13:56+00:00
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What is Contingent, Disputed or Unliquidated Bankruptcy?

Bankruptcy filing involves the submission of accurate information in order to ensure the process is fair and transparent. The information submitted plays a very vital role in the bankruptcy court decision making. The common focus of information can be listed as follows- What is the amount of money do you make from all your consistent sources? How much dues do you have pending? What are the different assets/properties owned by you? What is your monthly expenditure budget? Was there any transfer of asset recently? These are some critical questions which are to be addressed before filing for bankruptcy. [...]

2021-12-07T08:21:42+00:00
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What Do You Understand by Disposable Income?

Many people find bankruptcy a great way out of spiraling debts. Consulting a bankruptcy attorney to find out which bankruptcy chapter suits your condition the best is important. However, people come across the term ‘disposable income’ too often during bankruptcy discussions and are often confused as to what it means. According to bankruptcy lawyers of Los Angeles based firm Recovery Law group, disposable income is the amount of your monthly gross income which remains after all essential bankruptcy expenses are subtracted from it. Disposable income is important to decide which chapter of bankruptcy you qualify; Chapter 7 to [...]

2023-04-11T08:44:06+00:00
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Know about Texas Bankruptcy Exemptions

Filing for bankruptcy is often considered to be a taboo. You need to open your mind to realize that it is one of the best options to manage your finances, especially if you are struggling with large debts. The government provides various exemptions to debtors when they file for bankruptcy. Call 888-297-6023 to know more about these exemptions and how you can benefit from them. Apart from federal bankruptcy exemptions, every state has its own list of exemptions which protect a large portion of bankruptcy filer’s property. When you file for bankruptcy, everything you own becomes a part [...]

2019-07-23T12:49:53+00:00
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What Impact Does Low Bankruptcy Filing in Los Angeles has?

Most of the people living in cities like Los Angeles and Dallas, TX face the dilemma of whether to file for bankruptcy or not. In the last decade, there were quite a large number of people who used to file up for bankruptcy to overcome their debt. However, this number has rapidly declined in the past few years to such an extent that it has reached to lowest of the past 10 years. According to the statistics shown by the United States Bankruptcy Court, the number of bankruptcy filings in Central district of California has dropped down to [...]

2023-03-13T07:51:09+00:00
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Different Ways of Supplementing Your Income

Los Angeles is one of the most expensive cities in America, where the cost of living is 43% more than the national average and cost of housing is more than Two times the national average. This has led many people residing here to live under debt or impatiently wait for their pay cheque every month. Many people are looking for alternatives to supplement their income. The gig of short-term work is on the rise. Selling your stuff on the internet to increase your income is a great way. Thanks to the internet, A lot of options are available [...]

2019-06-19T05:08:33+00:00
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Bankruptcy – An Advisable Strategic Move

Since the bankruptcy law overhaul in the year 2005, there has been a forecast of reduction in the number of Chapter 7 and Chapter 13 bankruptcy filings. The Federal Reserve Bank of New York in a report states that this condition could be a trend. On the other hand, it also indicates, that filing for bankruptcy is not as negative and bad as believed by the public. The lack of understanding amongst the U.S. public about the way bankruptcy works is mainly the reason for the forecast of a decline in bankruptcy filings. There’s more to the same [...]

2019-06-14T07:51:57+00:00
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Know Everything about PayDay Loan

The name might be confusing for people who have not faced any financial problems. A payday loan is a short term loan which is due when you get your next paycheque. Most of the times, the loan is taken due to some financial problem causing an unexpected increase in expenses (medical ailments, etc.) It is a difficult time as once you have taken a payday loan, you are continuously living in the terror of harassing debt collectors. You also constantly worry whether you will be able to make essential payments like bills etc., have enough to eat while [...]

2021-12-08T05:27:02+00:00
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Effect of Bankruptcy on Credit

The effect of filing bankruptcy will remain on your record of credit for a period of ten years. But there is nothing to panic, as this statement doesn’t conclude that you will not be able to further get any debts or finances. In effect, the bankruptcy filing will not be the end of your credit journey. A new start to your financial status Eliminating the debts through the filing of a bankruptcy will give you the provision to start afresh and start saving too! Routine household expenses of groceries, clothing needs and automobile needs can now be accomplished [...]

2019-05-10T13:30:06+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.