chapter 13 bankruptcy Los Angeles

Is there any hope left for Student Debtors?

Contrary to other common debts, student debt is considered “next to impossible” to pay off debts. And if the student plans on paying off these kinds of debts, they will end up in “undue hardship”. A recent Court case has relieved the burden of many such students and has arisen a Ray of hope in them once again. In Sara Fern v. Fedloan Servicing, the bankruptcy court’s judgment was passed in favor of Sara Fern. The court stated that the student loan due on Sara worth $27,000 would indeed cause undue hardship in her case and hence the [...]

2019-06-20T11:24:00+00:00
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Instagram Photos land Rapper 50 Cent to Bankruptcy Court!

Rapper 50 Cent got a rude shock when he was called to court for his Instagram photos. Despite filing for bankruptcy under Chapter 11 in summer, he had been posting photographs on Instagram, posing with huge stacks of cash. This raised suspicion and he was ordered to appear in bankruptcy court to explain his actions since bankruptcy is a legal way out for people who have been unfortunate enough to suffer huge irreversible financial losses. Transparency while filing is one of the important points for an individual to get relief. However, with photographs like the one posted by [...]

2025-08-06T07:50:10+00:00
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Different Ways of Supplementing Your Income

Los Angeles is one of the most expensive cities in America, where the cost of living is 43% more than the national average and cost of housing is more than Two times the national average. This has led many people residing here to live under debt or impatiently wait for their pay cheque every month. Many people are looking for alternatives to supplement their income. The gig of short-term work is on the rise. Selling your stuff on the internet to increase your income is a great way. Thanks to the internet, A lot of options are available [...]

2025-08-21T09:17:29+00:00
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Bankruptcy – An Advisable Strategic Move

Since the bankruptcy law overhaul in the year 2005, there has been a forecast of reduction in the number of Chapter 7 and Chapter 13 bankruptcy filings. The Federal Reserve Bank of New York in a report states that this condition could be a trend. On the other hand, it also indicates, that filing for bankruptcy is not as negative and bad as believed by the public. The lack of understanding amongst the U.S. public about the way bankruptcy works is mainly the reason for the forecast of a decline in bankruptcy filings. There’s more to the same [...]

2025-09-05T13:12:05+00:00
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Role of your Chapter 13 Bankruptcy Trustee

When a Chapter 13 bankruptcy is filed, the debts are generally reorganized and repaid within five years. The creditors receive the dues over a three to a five-year term and the administration of this plan is monitored by an appointed trustee, exclusively for Chapter 13 filings. Here is a brief list of the bankruptcy trustee’s duties with regards to Chapter 13 bankruptcy filing – Reviewing all associated paperwork of the filing Reviewing of the repayment plan for its compliance to bankruptcy laws Collecting the payments as per the plan and distributing the same to the creditors Executing the [...]

2025-08-21T11:54:11+00:00
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Do You Need an Attorney While Filing for Bankruptcy?

Troubled financial times may cause people to make rash decisions, which will throw them further into an abyss. For people who are considering bankruptcy as a mean to get out of a bad financial situation, there are two options available. You can either file “pro se” or use a lawyer to file bankruptcy papers. Many people think, that by avoiding hiring a lawyer, they are actually saving money in legal fees. However, if you are not fully aware of the procedure, you might end up sabotaging your case which might worsen your already bad condition. […]

2025-08-21T12:05:01+00:00
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Benefits of Bankruptcy Consultation

More often than not, people prefer dealing with severe financial problems than opting for bankruptcy as the word has been often been misconstrued. A bankruptcy filing is a legal and one of the best methods to come out of financial problems and start life afresh. However, before you make a decision to file for bankruptcy, it is important to get a consultation with skilled bankruptcy lawyers such as those of Los Angeles based law firm Recovery Law Group. What to Expect in Bankruptcy Consultation? Taking legal assistance for your financial problems is important as sometimes you might not [...]

2023-03-07T11:12:27+00:00
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All You Needed to Know About Personal Bankruptcy and Business Ownership

For people who are the sole proprietor of their business, filing for personal bankruptcy can have ramifications on the business ownership too. This depends on how the business was legally organized and the type of bankruptcy you have filed in the court. As per U.S. bankruptcy code, individuals can file for bankruptcy under two chapters, depending on their circumstances – Chapter 7 or Chapter 13. As lawyers of Los Angeles based law firm Recovery Law Group explain, Chapter 7, also known as liquidation bankruptcy is one of the most common types of filing done in personal bankruptcy cases. [...]

2023-03-07T11:15:28+00:00
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Know More About Chapter 13 Bankruptcy Exemptions

Bad financial decisions can cause a change of fate. This can happen to anyone, anytime. Filing for bankruptcy offers a way to salvage not just your property but also allows you to get a fresh start. Bankruptcy can be filed by an individual or company under various chapters. Chapter 13 or wage earner’s bankruptcy is for people with a steady source of income. Like other chapters, exemptions are available under chapter 13 reimbursement proposal. They are also helpful in calculating the amount that the debtor will pay. Under chapter 13 bankruptcy, one can keep all their property, but [...]

2025-08-11T07:18:16+00:00
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