bankruptcy

Call: 888-297-6203 The Claims Bar date is indispensable in a bankruptcy. All the creditors are supposed to make a claim on the debtor’s estate till this date or they will not be allowed to collect their debt. This date gets generated automatically after the filing of the case, and first appears on the Notice of Filing. The creditors, who receive the notice of bankruptcy, must make a claim within 90 days. In case of improper bankruptcy notification, a creditor might be allowed to make a late claim. Governmental Units also have a claims bar date, though they get [...]

Call: 888-297-6203 There is a sale date for your Jacksonville home. You have been counting on the possibility of mortgage modification because of which you were delaying in filing a bankruptcy, but now you have only 24 hours before the selling of your home. However, this can be stopped from happening. Filing for bankruptcy, even a few hours before the selling of the home, will bring the automatic stay in effect. An automatic stay stops the creditors from collecting until either the completion of the bankruptcy or the court’s permission for collecting again. There is a lot of [...]

Call: 888-297-6203 Desperate times call for desperate measures, however, they might not work every time. if you are thinking of filing for bankruptcy to get rid of the huge amount of debt, concealing your assets is one of the worst things you could do to hamper your chances of getting a discharge say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. Hiding anything, from a small family heirloom to money to property can cause you problems later. You are required to list all items considered your asset in your bankruptcy petition. Just because you are [...]

Call: 888-297-6203 Honesty is the best policy in life, especially if you are filing for bankruptcy, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. When you file your bankruptcy papers, it is important that you mention all your assets, income and debts and not hide things. This is because sooner or later a disclosure might hamper your chances of getting debts discharged through bankruptcy. In fact, you might even end up getting your bankruptcy discharged or worse, get jail time. since you are required to sign bankruptcy documents, if anything mentioned on them is [...]

Call: 888-297-6203 Financial troubles can hit anyone, anytime. However, if you have recently shifted to a new state and need to file for bankruptcy, you can; but you need to find out about the exemptions. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, exemptions are important to protect your real estate and personal property. Individuals can choose between federal and state exemptions. If you shift to a new place, you cannot use state exemptions as you are expected to stay for a certain timeframe to avail state bankruptcy exemptions. In the case of [...]

Call: 888-297-6203 Saab, the aircraft manufacturer turned automobile giant has been an innovator. The first of its kinds to come up with heated seating in automobiles, the company had to file for bankruptcy in Sweden, its home country. Since its entry into the automobile sector post-World War II, its sales peaked in 1988 and again in 2006. However, during the period of 2006-2009, a decline of almost 20.3% was observed in Saab sales. As per the Swedish Company Reorganisation Act, any bankruptcy application is approved only if a reasonable cause is present which assumes that reorganization will serve [...]

Call: 888-297-6203 When you file for bankruptcy, your unsecured debts might be discharged eventually but your secured debts like a mortgage or automobile loan, etc. cannot be discharged. According to lawyers of Dallas based bankruptcy law firm Recovery Law Group, you can either reaffirm the debt, consolidate it or settle it. If you are thinking of reaffirming the debt, you need to work out an agreement with your creditor regarding new terms. The agreement would then be signed by both, the creditor and the debtor. However, before you go ahead with debt reaffirmation, it is important that you [...]