chapter 13 bankruptcy Los Angeles

Chapter 11 or Chapter 13: What is Best For a Small Business?

Small businesses, when comes under acute pressure of financial liabilities, do not have many options with them. Filing for bankruptcy can be the only option if you had like to revive your small business or wrap up the same. Chapter 7 bankruptcy will lead to winding up of the small business while Chapter 11 or Chapter 13 (if qualified) can help you in keeping the business running. To learn more about Chapter 7 and its benefits, log on to https://bankruptcy.recoverylawgroup.com/. How does Chapter 11 or Chapter 13 help? The concept or logic used in Chapter 11 or Chapter [...]

2025-08-21T11:43:43+00:00
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Which Chapter of Bankruptcy Would Work Best for Me?

People, when confounded with huge amounts of debts, are often looking for ways to get out of this grim situation. Filing for bankruptcy is one of the options that they can choose. However, there are other options also available, say lawyers of Los Angeles based bankruptcy law firm https://bankruptcy.recoverylawgroup.com/, to provide you with a fresh start. Individuals can file for either Chapter 7 or Chapter 13 bankruptcy, however, each has eligibility requirements; you should have income low enough to pass the Chapter 7 means test or substantial disposable income apart from a dollar limit cap on your debts [...]

2025-08-21T11:53:29+00:00
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Chapter 7 or Chapter 13? Which is Better if Wish to Keep Your Home?

Chapter 7 and Chapter 13 are the preferred routes taken by individuals filing for bankruptcy. Each has specific requirements that you must meet if you wish to get your debts discharged. According to Los Angeles based bankruptcy law firm Recovery Law Group , you need to be current on your payments and protect all home equity through bankruptcy exemptions in the case of Chapter 7. While in Chapter 13, you get a chance to catch up on missed mortgage payments through arrearage in the repayment plan. Both state and federal government offer exemptions to protect your equity in [...]

2025-08-12T12:17:02+00:00
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What happens to Your Vehicle in Chapter 13 Bankruptcy?

Chapter 13 bankruptcy allows you to catch up on previous dues and make arrangements to clear your secured, priority and unsecured debts through a repayment plan. Unlike Chapter 7, you can keep all your property in Chapter 13 bankruptcy if you pay your unsecured creditors the amount of non-exempt property you are keeping. This chapter of bankruptcy, say lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, can help you catch up on mortgage and car loan payments and also help in reducing the amount owed in the latter case. Sometimes, even Chapter 13 bankruptcy might [...]

2025-08-12T12:17:31+00:00
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What is Contingent, Disputed or Unliquidated Bankruptcy?

Bankruptcy filing involves the submission of accurate information in order to ensure the process is fair and transparent. The information submitted plays a very vital role in the bankruptcy court decision making. The common focus of information can be listed as follows- What is the amount of money do you make from all your consistent sources? How much dues do you have pending? What are the different assets/properties owned by you? What is your monthly expenditure budget? Was there any transfer of asset recently? These are some critical questions which are to be addressed before filing for bankruptcy. [...]

2025-08-21T10:38:59+00:00
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Know about Texas Bankruptcy Exemptions

Filing for bankruptcy is often considered to be a taboo. You need to open your mind to realize that it is one of the best options to manage your finances, especially if you are struggling with large debts. The government provides various exemptions to debtors when they file for bankruptcy. Call 888-297-6023 to know more about these exemptions and how you can benefit from them. Apart from federal bankruptcy exemptions, every state has its own list of exemptions which protect a large portion of bankruptcy filer’s property. When you file for bankruptcy, everything you own becomes a part [...]

2025-08-25T13:28:53+00:00
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Chapter 7 Bankruptcy and Release of Debts

Filing bankruptcy under Chapter 7 is usually with an objective of getting away with all or most unsecured debts. While it is a fact that Chapter 7 bankruptcy can help in releasing most debts secured and unsecured debts. It is also a fact that certain type of debts or liabilities do prevail even after Chapter 7 bankruptcy Los Angeles. Credit card debts pay day loans, etc., are some common unsecured loans that could be released with Chapter 7 bankruptcy. How does the release of debts work? A release of debt basically relieves an individual from the liability to [...]

2025-08-06T07:27:28+00:00
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What Impact Does Low Bankruptcy Filing in Los Angeles has?

Most of the people living in cities like Los Angeles and Dallas, TX face the dilemma of whether to file for bankruptcy or not. In the last decade, there were quite a large number of people who used to file up for bankruptcy to overcome their debt. However, this number has rapidly declined in the past few years to such an extent that it has reached to lowest of the past 10 years. According to the statistics shown by the United States Bankruptcy Court, the number of bankruptcy filings in Central district of California has dropped down to [...]

2025-08-06T06:45:36+00:00
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How is Post-Bankruptcy Life in LA- Know The Benefits of Filing For Bankruptcy

After being in debt for a certain period of time, it is wise to file for bankruptcy. However, filing for bankruptcy for the first time can be quite an inquisitive task. You might face numerous questions and doubts about how your life will transform after bankruptcy. A good and experienced Attorney firm, Recovery Law Group can come to your rescue in such a case. In cities like Los Angeles and Dallas, TX it is quite common for people to be indebted owing to their lifestyle and standards that eventually lead them to bankruptcy. However, it is an astonishing [...]

2025-08-21T11:18:31+00:00
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Filing Bankruptcy in case of Natural Hazard in Los Angeles

Natural calamities cause a huge impact on every individual’s life in every possible aspect. It takes several years for a person to overcome the losses caused by a natural disaster and to get back to a normal life. It causes great mental as well as financial peril on everyone’s life. Many people find it hard to overcome the financial burden due to pre-disaster debts accompanied by post-disaster losses. Hence there is a sudden boom in the number of people filing for bankruptcies immediately after a natural calamity. In recent years Los Angeles and Dallas, TX have seen many [...]

2025-08-21T11:04:05+00:00
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