bankruptcy chapter 13

Bankruptcy Options for Struggling Business During Coronavirus Crisis

Call: 888-297-6203 Different bankruptcy chapters offer various benefits depending on whether an individual or a company is filing for it. According to lawyers of Los Angeles law firm (, a business that is unable to generate an income, can file under chapter 7 to shut it down. Similarly, for people with minimum property and low income to repay debts can also file under this chapter. Chapter 7 is known as liquidation bankruptcy since the trustees can sell any non-exempt property of the company or individual to repay unsecured creditors. However, certain assets are protected through state and federal [...]


Which among Chapter 11 or Chapter 13 is a better option?

Call: 888-297-6203 For people struggling to pay their debts due to financial problems, chapter 11 and chapter 13 are the two best options for reorganizing the debts. According to lawyers of Los Angeles law firm (, chapter 13 is generally for people who wish to keep non-exempt property. Chapter 11 is for businesses and individuals with debts more than chapter 13 limits. Businesses cannot file under chapter 13 and it is usually preferred by individuals and sole proprietors. Chapter 11 bankruptcy Chapter 11 is available for both individual filers and businesses. Debtors can reorganize their finances and keep [...]


Forms to Fill When Filing for Bankruptcy

Call: 888-297-6203 Financial instability can be quite frustrating. However, once you have come to realise that bankruptcy is the best way out of this problem, you can direct your energies towards getting your debts discharged. You will be surprised to know that there are numerous forms that need to be filled if you wish to seek a discharge of your debts. Additionally, say lawyers of Dallas based bankruptcy law firm Recovery Law Group, since bankruptcy laws differ from state to state, it is important to consider the state requirements while filing bankruptcy papers. Moreover, since bankruptcy also involves [...]


Missed Bankruptcy Payments? Can Creditors Resume Collection in This Case?

Living beyond limits, using credit cards frequently can land you in huge debt. In such a case, people often find bankruptcy to be a great way out of debts. Chapter 13 bankruptcy offers debtors a chance to stop collection action while repaying some portion of their debt through a court mediated repayment plan. This plan is developed based on the disposable income of the bankruptcy filer. Disposable income puts certain financial restrictions on the debtor, eliminating all unnecessary expenses to accommodate the repayment plan. However, inform Dallas based bankruptcy law firm Recovery Law Group, people sometimes end up [...]