Bankruptcy Chapter 7

Schedule C Of Bankruptcy

Call: 888-297-6203 Bankruptcy is a relieving prospect for people who want to come ahead from the financial trauma and start fresh. The Bankruptcy Code allows for some exemptions even during bankruptcy that helps in safeguarding the assets to have a sustainable living post-bankruptcy. The property or asset that the debtor wants to safeguard or prevent from liquidation, especially in Chapter 7 bankruptcy should be claimed as exempt on Schedule C. Know more about bankruptcy schedules and statements of financial affairs on https://www.recoverylawgroup.com/bankruptcy/. What is Schedule C? Schedule C is one of the forms that goes along with the [...]

2023-03-30T13:21:34+00:00
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All That You Must Know About Bankruptcy

Call: 888-297-6203 When an individual is lagging behind in bill payments (A huge sum) with no foresee of getting it cleared off soon, it is best to get a fresh start by filing for bankruptcy legally. Filing for bankruptcy helps you get rid of all your unsecured debts and also stops all collection calls by giving you an automatic stay. The individual who files for bankruptcy is known as the debtor. When you file for bankruptcy, you get- Discharge from most of your debts (exceptions are there) Prevent foreclosure on the property Buy time to catch up on [...]

2023-06-27T05:00:38+00:00
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Can I Lose My Rental Property On Filing For Bankruptcy?

Call: 888-297-6203 While filing for bankruptcy, though exemptions protect your house, your rental property (apartment, commercial space, etc.) might be under threat. Depending on whether you are filing for chapter 7 or chapter 13, the fate of these properties are decided, say lawyers of Los Angeles law firm (https://recoverylawgroup.com/bankruptcy/). Rental property in chapter 7 While filing for Chapter 7 bankruptcy, any property that is exempt (under federal or state laws) can be kept by the debtor. Most states allow homestead exemption up to a dollar amount while others might allow protecting the entire interest of the debtor in [...]

2023-03-16T11:40:19+00:00
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How To Get A Mortgage After Bankruptcy?

Call: 888-297-6203 Getting a mortgage after bankruptcy is difficult. However, if you control your finances and improve your credit history, there are chances that you can get a home loan if you are selective about applying for it. Lawyers of Los Angeles law firm (https://recoverylawgroup.com/bankruptcy/) say, that it might be sooner than later. Affect of bankruptcy on your credit score Once you opt for bankruptcy, you should know that it stays on your credit report for 10 years; sometimes even longer if the loan was for more than $150,000. Your credit score is affected by this as well [...]

2023-06-26T07:30:21+00:00
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Getting A Credit Card Post-Bankruptcy

Call: 888-297-6203 Once you go through bankruptcy, whether chapter 7 or chapter 13, you might realize that getting a credit card is extremely difficult. However, instead of being disheartened, get to know the alternatives, say lawyers of Dallas based law firm (https://recoverylawgroup.com/bankruptcy/). One of the best alternatives is to get a secured credit card, department store cards, or get credit cards with a consignor. Once you behave responsibly with these, the chances of getting a regular credit card improve drastically. However, before applying for one, it is important to think whether you need one or not? This is [...]

2023-06-27T04:14:23+00:00
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All You Need To Know About A Bankruptcy Trustee

Call: 888-297-6203 When you file for bankruptcy under chapter 7, the court appoints a bankruptcy trustee who oversees all the evaluation of the property as well as the distribution of the funds to the creditors after selling the assets. It is important to know that the trustee only acts under the discretion of the court and no final decision can be taken by them unless approved by the bankruptcy court. What are the responsibilities of a Trustee? The responsibilities of a trustee vary depending on the chapter of bankruptcy that you are filing under. For example, under chapter [...]

2023-03-16T10:54:21+00:00
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How To Determine If Chapter 7 Is For You?

Call: 888-297-6203 Chapter 7 is an extremely popular bankruptcy chapter. Many individuals, close to 85% in a survey, expressed their interest to file bankruptcy under chapter 7. The ability to safeguard basic assets using exemptions and discharge maximum debts seems lucrative to all. However, many people have a lot of misconceptions about chapter 7, which is why close to 70% of people who filed for bankruptcy under chapter 7 were not very happy or satisfied with the outcome. Know more about chapter 7 bankruptcy alternatives at https://recoverylawgroup.com/bankruptcy/. When is chapter 7 for you? Chapter 7 can just be [...]

2023-06-27T07:25:21+00:00
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Chapter 13 Or Wage Earner Plan

Call: 888-297-6203 The wage-earner plan is a nickname given to Chapter 13 bankruptcy. The reason to give this name to the chapter 13 bankruptcy is due to the characteristics of the bankruptcy chapter. Unlike Chapter 7, Chapter 13 focuses on clearing as much as debt possible using a reliable source of income through the next 3-5 years. The tenure depends on the debt and the disposable income. There is a misconception that a wage-earner plan does not result in a discharge. However, there can be a discharge if the future disposable income isn’t sufficient to repay some of [...]

2023-03-22T09:38:22+00:00
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What Happens After Bankruptcy?

Call: 888-297-6203 Bankruptcy can be a nightmare or a relief after nightmare for many. There are a few important events that occur after bankruptcy. Such events can be listed as follows- Liquidating or preventing the liquidation of assets The first step after bankruptcy is to either prevent the assets from liquidation or to notify the lenders/bankruptcy trustee to liquidate the assets. If the bankruptcy filer must prevent an asset from being liquidated, this is the critical moment to do so, or it can be liquidated, or the lien might be exercised by the lender on the same. For [...]

2023-03-22T09:45:33+00:00
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Bankruptcy: Things To Know

Call: 888-297-6203 Bankruptcy is a very popular topic today. Not favorable but not avoidable as well sometimes. There could be multiple views about bankruptcy as a means of escaping debt, misusing it to discharge debts, etc., it sometimes is a big-time savior for many poor people. Here are a few important things to know about bankruptcy- Bankruptcy has big long-term impacts that can range up to 10 years hence, it is essential to thoroughly evaluate all alternate options before opting for bankruptcy. If you need help in evaluating bankruptcy and its alternatives do not hesitate to dial 888-297-6203 [...]

2023-06-26T07:06:40+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.