bankruptcy lawyers

All About Bankruptcy!

Call: 888-297-6203 Bankruptcy is the last resort or an emergency number, which should be the last option in case of emergencies. Many people, for various reasons, more so during the pandemic era, are forced into debt. It may be due to excessive medical expenses or due to other uncertainties like job loss or business losses. Some people, due to poor management of finances and over-the-top expenditure beyond what they can afford, spoil their finances and fall into the debt trap. No matter what the reason or concern may be, bankruptcy is relieving from a grieving situation. To begin [...]

2023-03-31T07:38:21+00:00

Let Us Know About Bankruptcy

Call: 888-297-6203 What is Bankruptcy? If you are looking to reduce or eliminate certain of your debts, bankruptcy is the best option you should choose. You can also provide a timeline on your own to repay the non-dischargeable debts. Even secure debts that are a debt pledged with a real estate property or vehicle as collateral are also repaid. In title 11 of the US code, federal bankruptcy law is there. Under the constitutional grant of authority, Congress passed the bankruptcy code to "established uniform laws on the subject of bankruptcy throughout the United States". The bankruptcy court [...]

2023-06-27T05:38:11+00:00

Consumer And Non-Consumer Debts

Call: 888-297-6203 The means test is a series of calculations based on the debtor's household size and income to determine whether the debtor can file for chapter 7 bankruptcy. The test only applies to debtors who primarily have "consumer debts" as opposed to business debt. If more than half of the people have non-consumer debt or business debt then they don't have to pass the means test to apply for chapter 7 bankruptcy. What are consumer and non-consumer debts?  Section 101(8) of the Bankruptcy Code defines a consumer debt as "debt incurred by an individual primarily for a [...]

2023-03-31T07:51:01+00:00

How Does Chapter 13 Debt Discharge Work?

Call: 888-297-6203 Bankruptcy usually is related to debt discharge. There can be scenarios when the bankruptcy might result in zero or no discharge. However, many people would be spooked or wouldn’t believe it if they were told Chapter 13 could also lead to some debt discharge. Discharge by definition is a legal order issued usually by the bankruptcy court to eliminate or release the liability of a debt from the filer. To know about more bankruptcy terms log on to https://recoverylawgroup.com/bankruptcy/. Key differences in discharge obtained through Chapter 7 and Chapter 13 Chapter 13 aims at settling as [...]

2023-03-31T08:02:18+00:00

Key Factors That Swing Balance Across Chapter 7 And Chapter 13

Call: 888-297-6203 Chapter 7 and Chapter 13 are the two most important chapters in bankruptcy. Some characteristics that swing the balance to Chapter 7 or Chapter 13 for an applier can be listed as follows- Consider Chapter 7- If you have a higher percentage of unsecured debt, chapter 7 can be beneficial. These can be medical bills, credit card dues, personal unsecured loans, payday loans, and other loans which do not have collateral. To know a more in-depth analysis of what kind of debt you have and whether chapter 7 is appropriate, log on tohttps://recoverylawgroup.com/bankruptcy/  If you have [...]

2023-03-31T08:21:46+00:00

What Are The Things Required For Chapter 7 Bankruptcy?

Call: 888-297-6203 Chapter 7 is a bankruptcy medium for businesses as well as individuals. It contributes to over 70% of bankruptcy cases and is one of the most popular chapters amongst bankruptcy filers. To ensure Chapter 7 procedures are followed appropriately and dismissal is not an obvious consideration for the bankruptcy courts, it might well be worthy to dial 888-297-6203 and seek professional assistance. However, it should be noted that it isn’t mandatory for the filer to appoint an attorney to file for bankruptcy via Chapter 7. Status of the filer The first thing to verify when filing [...]

2023-03-31T08:10:45+00:00

How Do I Buy A Car After Bankruptcy?

Call: 888-297-6203 Buying a car after declaring bankruptcy can sometimes be a necessity. Especially if you had a bad bankruptcy settlement and ended up losing your essential or basic assets like a car or a house, you might feel the need to buy a car after bankruptcy. Traveling for job purposes often makes a car a necessity as it adds to the convenience and saves costs on fuel as well. How long you may have to wait to buy a car? The possibility of relying on a car loan to buy a car is most likely after you [...]

2023-03-31T08:14:16+00:00

Secured Debt Vs Unsecured Debt

Call: 888-297-6203 Secured debt is a debt form that is usually backed by an asset or collateral. These debts are usually of larger amounts and since they have a lien attached to them, they become important during the bankruptcy claims. A secure debt can broadly be classified into two types. Real property secured debt and personal property secured debt. Any debt that is secured by house, land, or any other real property by nature falls under the real property secured debt, and any debt that is secured under personal property like a car, motorbike, electrical appliance, etc., come [...]

2023-03-31T08:22:42+00:00

Super-Quick Guide To All You Need To Know About Bankruptcy

Call: 888-297-6203 Bankruptcy is a complex process. However, we will try to debrief the same in a super-quick short way for faster understanding. When you realize you are not going to be able to pay some debts and you are already defaulting on a few, you might consider bankruptcy to eliminate some of the debt to make your life less miserable. The ultimate aim of bankruptcy is to discharge some debts and reinstate some stable financial status to ensure life is less stressful. Benefits of bankruptcy Bankruptcy provides immediate relief. Once the bankruptcy is applied, you become immune [...]

2023-03-31T08:35:40+00:00

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 [...]

2023-03-31T08:40:48+00:00
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