chapter 13 bankruptcy lawyers

Who is Notified of Your Bankruptcy Filing?

Despite being one of the best legal options to get rid of accumulated debt, people refrain from filing for bankruptcy probably because they fear being judged. One of the major concerns people have is that their bankruptcy will be announced to their family and friends, which probably is shameful for them. While considering bankruptcy, and to quell any fear, it is important that people are aware of who will be aware of their bankruptcy filing. According to Dallas based law firm Recovery Law Group, there are two chapters under which individual debtors can file for bankruptcy – Chapter [...]

2023-06-13T07:08:32+00:00
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What Happens if You Forget to Include a Creditor in Your Bankruptcy?

A lot of paperwork is involved when you file for bankruptcy, including documentation for your income, assets, and a comprehensive list of your debts as well as your creditors. This complete list of creditors is used by the court to inform everyone concerned about your bankruptcy. Since all of this involves a lot of paperwork, it is quite possible that one or two creditors might miss making the list. Since creditors also have legal rights in your bankruptcy case, if any of them fails to get a mention in your list of creditors while filing for bankruptcy, what [...]

2023-03-30T13:00:15+00:00
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My Cosigner Filed for Bankruptcy; Does it Impact Me?

In many different places, getting loans or line of credit is not easy. There is always a requirement of a guarantor or a cosigner. Parents, relatives, spouse, or friends could play as guarantor/cosigner. How does the bankruptcy of one cosigner impact the other person? This is what we will discuss in detail here. For best and quick solution on bankruptcy related issues, just hop to Recovery Law Group. Cosigner and the relationship A Cosigner is a person who is liable to pay the loan in case the primary borrower defaults. The Cosigner is the backup plan for the [...]

2023-01-12T09:08:43+00:00
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Taxes in Bankruptcy

People with overwhelming debts often seek bankruptcy as a viable solution. However, even in bankruptcy, certain debts such as secured debts like mortgage and car loan as well as government taxes and child and spousal support cannot be avoided. Apart from federal taxes, certain states like California also impose state income tax on its citizens. Similar to credit card debt, tax debt also gets added up and often becomes difficult to manage. A bankruptcy filing can definitely get rid of your unsecured debts but many people are confused regarding its effect on their taxes. What to know before [...]

2023-03-22T08:38:40+00:00
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Can You Convert Your Bankruptcy Chapter?

Filing for bankruptcy is a big decision. It is important to choose the bankruptcy chapter which can help protect most of your assets and results in the discharge of various debts. There are numerous factors involved while choosing a specific chapter to file bankruptcy. A lot of what happens to your circumstances and the time taken to discharge depends on the chapter of bankruptcy you have filed for. However, if your circumstances change, there are provisions available to switch the bankruptcy chapter. Changing bankruptcy chapter can be a complicated process.  Los Angeles based bankruptcy law firm https://bankruptcy.recoverylawgroup.com/, therefore, advised that [...]

2023-03-13T09:24:56+00:00
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Are You Filing for Bankruptcy? What Happens to Your Mortgage?

Bankruptcy court acts as a shield between you and your creditors to provide you breathing space and a fresh financial start. Though the law is designed to provide respite to you, it does not do so at the cost of your creditors. You need to pay for your secured loans like mortgages. One of the best aspects of bankruptcy filing is the automatic stay which prohibits all sorts of collection actions against you. Thanks to it, your home and car cannot be foreclosed or repossessed. In case repossession is done, they have to return it. Moreover, any liens [...]

2023-01-12T09:04:44+00:00
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What does Bankruptcy mean for Senior Citizens?

Financial troubles can hit anybody, anytime. Nearly half the senior citizen population in the U.S. was facing debts (mortgage, car loan, medical bills, etc.) in 2010, averaging at $50,000. When you have accumulated debts of such huge proportions, it is natural to be a bit worried as to how the debts are going to affect you and your heirs. While you are earning, there are still chances of you being able to repay the loan, but post-retirement, making monthly payments towards the debt is a bit difficult with a fixed income at hand. According to Los Angeles based [...]

2021-12-07T09:12:34+00:00
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Is your Pension safe during Bankruptcy?

Getting pension benefits at the end of a hard and long career is what drives most people to work. When you retire, your pension is what you will be surviving on. However, during the course of your career, there might come a time, when you face financial problems due to which you might have to consider bankruptcy as an option to survive. Since in bankruptcy, some of your assets are used to pay off the creditors before your debts are wiped out, one of the major concern people have is whether their retirement funds are at risk? According [...]

2019-07-03T10:42:27+00:00
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Tax Mistakes to Avoid While Filing for Bankruptcy

Liquidation can frankly be quite overwhelming and confusing for an average person. Filing for taxes while considering bankruptcy (either Chapter 7 or Chapter 13) is double trouble. In case you are confused regarding tax filing during the trying times of bankruptcy filing, you can call bankruptcy attorneys at 888-297-6023 to find out about your options. Out of the two possible chapters under which individuals can file for bankruptcy is Chapter 7. This results in the discharge of all unsecured debts like a credit card, medical and even income tax debt in rare cases. Under Chapter 13, you are [...]

2021-12-07T09:13:00+00:00
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Advantages of Filing Bankruptcy For Cancer and Other Medical Debts

The deadly impacts of cancer on an individual’s life are well known by everyone around the globe. In America, cancer is a widespread disease that has taken a toll on many lives. Curing cancer requires a hefty amount of money which leads people to numerous debts. Apart from routine medical aids, people often resort to various emotional and psychological assistance during their treatment which further increases the financial burden on them. This whole procedure continues for a long period of time and the health finances do not cover all these bills which mean that people take debts to [...]

2019-06-27T12:19:26+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.