Bankruptcy Consultation Los Angeles

Pros And Cons Of Declaring Bankruptcy

Call: 888-297-6203 Filing bankruptcy can come with a bunch of pros and cons with it. It is essential to understand whether those pros and cons make sense to a particular filer. By carefully viewing and understanding the pros and cons, one can make a wiser decision about whether to opt for bankruptcy or not. Find more such bankruptcy-related facts on What are the advantages of filing for bankruptcy? The advantages of filing bankruptcy can be listed as follows- Instant relief from the debt retrieving procedures Often when you are lagging the payments, the lenders start to foreclose [...]


Federal Tax Liabilities And Bankruptcy

Call: 888-297-6203 Federal income tax dues are non-dischargeable debts and getting relief from them can be extremely difficult. IRS can sue the debtor for an asset lien to recover dues, interest, and penalties. To stop the collection of dues from lenders like IRS, filing for bankruptcy can put their collection attempts to a temporary stop until the bankruptcy court arrives at a certain judgment. This relief sometimes can prove very important in financially draining situations. Know more about bankruptcy and its impacts on  Federal tax dues and penalties or interest are taken very lightly unless it is [...]


Unique Things About Bankruptcy

Call: 888-297-6203 Most of the time, you might have heard about applying for bankruptcy but there are times when you can be declared bankrupt as well. There are many things associated with bankruptcy that are unique and unknown by many. It may not be so common appearance, but it can be helpful to know. Know more about bankruptcy and the aspects relating to it on How can you become bankrupt? The high court can declare an individual bankruptcy on reviewing the bankruptcy petition, filed by any of the lenders. A group of lenders or an individual lender [...]


All You Need To Know About Debt

Call: 888-297-6203 Debt is a loan or an agreement or a promise made to repay a loan over a period. The debt usually has two components, one is principal and the other one is interest. Interest-free loans are generally not considered fair and hence, the person receiving interest-free loans must include the potential fair interest to be paid as income on his/her federal tax return. The other important aspect of debt is the way it is paid out. Debt can have different arrangements for repayment, the most common one is to repay the debt on a periodic basis [...]


Rules For Chapter 7 Bankruptcy Filing

Call: 888-297-6203 Filing bankruptcy through Chapter 7 has some rules to follow. These once understood make the whole bankruptcy process much easier. If there aren’t many assets and the bankruptcy is straightforward, then one can proceed with the bankruptcy process without even hiring any lawyer. However, to be sure and to ensure you are not missing on a potential planning opportunity, you can dial 888-297-6203 for reliable bankruptcy advice. Bankruptcy form There is a standard bankruptcy form that is available on the official site, which is more or less consistent across the United States of America. In addition [...]


How To Retain Your Car After Bankruptcy?

Call: 888-297-6203 A car is more of an essence that supports travel for work reasons or emergencies. It surely isn’t a luxury for a person applying for bankruptcy. The car might also have some emotional or sentimental aspects attached to it for the owner. It might be as if it was a car that was gifted, or it might be your first car, those are certainly more valuable than the dollar value associated with it. Ownership status To understand whether your car can be safeguarded during bankruptcy or not, it is important to know the ownership status of [...]


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 [...]


Stats On Bankruptcy In The United States Of America

Call: 888-297-6203 Bankruptcy can be regarded as an opportunity to revive themselves in the game of finances after making severe blunders previously. It does come at a cost and leaves scars behind. However, due to undue circumstances or situations, it becomes inevitable as well. It can be a very stressful phase and 888-297-6203 can be your lifeline in such situations. Dial-in the number or log on to to figure out the best possible guidance and solution for your bankruptcy problems. The numbers game Bankruptcy filings are never a good indicator for an economy. It not only indicates people are [...]


Why Should One File For Chapter 13 Instead Of Chapter 7?

Call: 888-297-6203 Sometimes repaying debt over time in a planned way is more beneficial than selling off your Assets and repaying debt. This comparison will help you understand better. Chapter 13 is more beneficial if you are under the following circumstances: 1) You don't qualify for Chapter 7 You have to undergo and pass means test to qualify for Chapter 7. Not everyone can. If a Debtor's income is high and exceeds the state's median income, and they have disposable income to repay debt, they might not qualify. 2) Debt repayment is your primary goal In a chapter [...]


Bankruptcy And Taxes

Call: 888-297-6203 In most cases, tax debt is still to be paid by the debtor even after they have filed for bankruptcy but there are some circumstances where it can get discharged. It is highly unlikely for a tax debt to be discharged when filing for chapter 13 as tax debt with other types of debts comes under the repayment plan but on the other hand when filing for chapter 7, debts like medical bills, credit card debt and sometimes federal tax debt is also discharged. Should I file for bankruptcy for tax debt? Some types of tax [...]

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