Bankruptcy Chapter 7

What Documents Are Required for Creditor’s Meeting?

Call: 888-297-6203 Once you file for bankruptcy (whether Chapter 7 or chapter 13) a creditor’s meeting takes place. During the meeting, also known as 341 hearing, bankruptcy trustee examines you under oath regarding your bankruptcy papers. You are required to bring essential documents related to your bankruptcy petition and schedules. During the 341 meeting, the trustee is responsible for verifying your identity as well as the information provided by you in the bankruptcy papers. Thus, you are required to bring documents that prove your identity as well as the financial information provided by you in the bankruptcy petition. [...]

2021-12-22T05:34:24+00:00
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What are the rules for chapter 13 bankruptcy?

Call: 888-297-6203 Overhauling of bankruptcy laws in 2005 brought the means test in focus. However, if you are filing for bankruptcy under chapter 13, the means test plays no role as it is used to filter people for chapter 7 eligibility. Chapter 13 bankruptcy also involves certain eligibility criteria like the income test to determine the duration of your chapter 13 repayment plan. Chapter 7 bankruptcy means test A means test is used to find out whether you have enough income to repay some of your unsecured debts through a chapter 13 repayment plan. According to bankruptcy lawyers [...]

2021-12-16T06:16:54+00:00
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Homestead Exemption in Chapter 7 Bankruptcy

Call: 888-297-6203 If you wish to protect your home when you file for bankruptcy, you need the state’s homestead exemption to protect your equity in the home. If the homestead exemption covers the equity on your home and you are not behind on your mortgage payments, you can protect your home. However, if either of these requirements is not met, then according to Los Angeles based law firm (https://www.recoverylawgroup.com/bankruptcy/) lawyers, you might end up losing your home. Homestead exemption working in chapter 7 bankruptcy Any property that cannot be protected by exemptions is deemed non-exempt property and is [...]

2023-04-11T09:50:14+00:00
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Confirmation Hearing In Chapter 13 Bankruptcy

Call: 888-297-6203 When you file for chapter 13 bankruptcy, a confirmation hearing is held by the court during which a decision to approve or reject your proposed repayment plan takes place. Once the plan is confirmed, lawyers of Los Angeles law firm say you need to abide by the plan and creditors must accept the payments for their claims. When does the confirmation hearing for chapter 13 take place? The confirmation hearing takes place within 45 days from the creditor's meeting in chapter 13 bankruptcy case. A notice is sent by the court in advance for it. It may [...]

2023-04-11T08:51:15+00:00
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Getting A Terrific Bankruptcy Lawyer In Sierra Vista, Arizona

Call: 888-297-6203 The financial crisis can disrupt the fabric of your happy & peaceful family life along with giving you sleepless nights. In such a scenario, hiring a legal professional help will not only let you restore the future for your loved ones but also help you in formatting plans to repay your debts and prevent foreclosure on your assets and property. Hiring a well-qualified bankruptcy representative is a complex process and can sometimes mislead you too. Thus, it should be handled carefully. Remember to ascertain the legal capabilities of the prospective attorneys before confirming the hiring of [...]

2023-04-10T13:34:49+00:00
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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 [...]

2019-09-12T12:45:26+00:00
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Is Chapter 7 Bankruptcy Your Best Bet to Get Rid of Debts?

Call: 888-297-6203 Money comes, money goes. The saying best describes the monetary situation of most people. There is no dearth of individuals who are struggling to make ends meet. You will hardly find someone who has not faced money problems in their life. If you are currently going through a bad financial phase and have accumulated a large amount of debt, then, bankruptcy might be a way out. However, there are various chapters of bankruptcy and it might be a bit too much for a layman to understand which chapter will work best for them. According to Dallas [...]

2019-09-10T13:23:43+00:00
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Why Do People File for Chapter 7 Bankruptcy?

Call: 888-297-6203 Owing someone something is one of the worst things. Nobody likes to be reminded of this fact. Being in debt is all this and more since the creditors are always at your door asking for their dues. For people who have amassed a large debt, a bankruptcy filing is probably the best way out. Individual debtors have the option of filing under Chapter 7 or Chapter 13 bankruptcy; however, Chapter 7 is probably the preferred choice for almost all debtors. According to Dallas based bankruptcy law firm Recovery Law Group, the top reasons why people choose [...]

2019-09-10T13:23:32+00:00
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Everything You Wanted to Know About Bankruptcy

Every now and then, individual and businesses go overboard with their expenditure. This might result in them going under. Bankruptcy is a legal way to get rid of the entire amount or some portions of the debt. However, there are long term effects of filing for bankruptcy, the major being, bankruptcy remains on your credit report for 7 to 10 years depending on which chapter you filed under. This may adversely affect your ability to get a loan at a favorable rate, open credit card accounts, etc. Since bankruptcy is a complex process involving lots of paperwork, it [...]

2021-12-07T05:21:19+00:00
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Need to File Bankruptcy a Second Time? Here’s an Overview of Both Chapters for Your Assistance

Financial problems can hit anyone anytime. However, there is no guarantee that despite your best efforts you might not hit a rough patch again. Many people are often confused that if they have opted for bankruptcy earlier to get rid of their debts, are they eligible to file for bankruptcy again? According to Dallas based bankruptcy law firm Recovery Law Group lawyers, if an individual has had a bankruptcy discharge previously, a certain time period is necessary before they can file for bankruptcy again. The various options available to people who have previously filed for bankruptcy are: If an [...]

2021-12-07T05:48:34+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.