chapter 13 bankruptcy lawyers

Bankruptcy Process; Chapter 13 Vs Chapter 7

Call: 888-297-6203 The bankruptcy process can be broadly classified based on the chapter you choose. We list some of the steps or procedures which you may come across while filing bankruptcy under the respective chapters below. This might not be an all-inclusive list. Bankruptcy is a very vast subject, and it needs loads of information from experts. Find all the bankruptcy-related information on https://recoverylawgroup.com/bankruptcy/. How does a Chapter 7 bankruptcy work? Chapter 7 bankruptcy is often referred to as the ‘liquidation chapter’ as it deals with the liquidation of assets to settle the debts of the lenders. The [...]

2023-03-31T07:31:28+00:00
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Chapter 13 And Its Hardships: Is It Worth It?

Call: 888-297-6203 Chapter 13 bankruptcy is another bankruptcy form that helps in exiting dire financial situations. Chapter 13 is an attempt to repay the maximum portion of debt possible through a consistent income source over a period of 3-5 years. This isn’t the most common bankruptcy form as almost 70% of the bankruptcy filers prefer Chapter 7. So, why do we even have Chapter 13, and is it even beneficial sometimes? Chapter 13 benefits and hardships Chapter 7 allows for a discharge of debts especially the unsecured ones fully. Chapter 13 bankruptcy is a promise to continue hardship [...]

2023-03-31T07:35:56+00:00
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The Timeframe For Chapter 13 Bankruptcy

Call: 888-297-6203 The average timeframe for Chapter 13 bankruptcy is higher than Chapter 7 bankruptcy under most circumstances. Chapter 13 focuses on a repayment plan, which may be up to 3-5 years, and the overall bankruptcy procedure may take about a year from the date bankruptcy is filed. The same when considered Chapter 7 can be within the range of a year for the whole process. So, chapter 7 definitely frees your shackles away quicker, and Chapter 13 might just take a bit longer. What is the information required to file bankruptcy? List of all lenders and creditors [...]

2023-03-31T07:49:52+00:00
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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
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Means Test: How To Arrive At The Magic Number?

Call: 888-297-6203 A means test is a critical aspect of qualifying for Chapter 7 and there can be a lot of confusion and indecision made in the calculation. Many people think they qualify for the means test but end up disqualified while the others who can qualify for the means test might think they have not. It is often a misconception that the recent income will be considered for the calculation of net household income, however, it is not the case. The average income over a period of the last 6-8 months is considered the household income to [...]

2023-03-31T08:06:11+00:00
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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
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How Does A Bankruptcy Court Function?

Call: 888-297-6203 A court functions on a rule book or laws that are created and modified over a period of time. The bankruptcy court was established in 1978 and since then based on economic conditions, concerns, and loopholes, the law has been evolving to the form we know presently. Ironic as it may seem to criminal proceedings, the borrower himself or herself begins the proceedings in a bankruptcy court by filing for bankruptcy. How does it begin? The application submitted by the applicant usually consists of all his debts, lender's information, assets, and any other information that is [...]

2023-03-22T09:36:35+00:00
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Home And Bankruptcy

Call: 888-297-6203 Home is a necessity that forms part of the shelter that is very essential. Many lenders or creditors might initiate home foreclosure procedures. It can be traumatic and stressful when the home is on the verge of being foreclosed. The institutions and the bankruptcy code consider home as an essential necessity and hence, there are multiple ways a good attorney https://recoverylawgroup.com/bankruptcy/ can suggest safeguarding the borrower’s home during bankruptcy or foreclosure attempts. Mortgages pay off The mortgage on the house is not waived and to keep the home, one must continue paying mortgages whether it is Chapter [...]

2023-05-19T06:37:24+00:00
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All That You Need To Know About Bankruptcy And Timeshare

Call: 888-297-6203 Timeshares are properties held commonly by multiple Individuals, each of who can use the property for a particular time in the year jointly. Common examples of timeshares are holiday homes or condominiums in a large resort. Whether you can protect your timeshare while you file for bankruptcy mostly depends on the state you file in as well as the bankruptcy chapter you file under. Depending on the worthiness of the timeshare you hold, you can either surrender or use exemption for the same. If you are looking to surrender it, you will need to continue paying [...]

2023-06-05T13:12:35+00:00
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Is It Possible To File For Bankruptcy Twice?

Call: 888-297-6203 If there is a proper time between two filings, a person can file for bankruptcy twice. They also need to see if the first case was discharged. A normal waiting period of 2 years is applied but it gets longer depending on the type of bankruptcy you filed first and the one you are planning to file now. The waiting period to file for a second time is affected by factors such as the result of the first bankruptcy (whether it was discharged or dismissed), the type of bankruptcy that was filed the first time, the [...]

2023-01-19T04:51:36+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.