Chapter 13 Bankruptcy

Chapter 13 Hardship Discharge

Call: 888-297-6203 Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, confirm that any debtor who qualifies for Chapter 13 bankruptcy get numerous benefits including protection from collection actions taken by creditors. While people filing for Chapter 7 often end up losing some of their property in order to get a bankruptcy discharge, Chapter 13 bankruptcy filers can keep the non-exempt property if they pay their creditors a portion of the amount. Sometimes, however, unforeseen circumstances might force debtors to face unexpected financial problems which might make it difficult to make payments as per the court [...]

2025-08-06T07:14:33+00:00
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Consumer Benefits of Chapter 13

Call: 888-297-6203 While bankruptcy might be traumatic, it is an excellent way to get rid of excessive debts legally. As per lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, most people filing for bankruptcy prefer Chapter 7. This is probably because you get a discharge within a relatively smaller time and with few financial restrictions and probable loss of some personal property, they can get rid of their debts. However, if you have a substantial income to pay off your debts, you might not be able to qualify for Chapter 7. In such a scenario, [...]

2025-08-11T10:13:28+00:00
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Why Abiding by Chapter 13 Repayment Plan is Essential?

Call: 888-297-6203 Filing for bankruptcy is probably one of the worst decisions anyone must take. Admitting that you were unable to manage your finances properly can be quite humiliating. However, once you have decided to go ahead with it, you should ensure that you get a discharge for your debts. Chapter 13 bankruptcy offers debtors a chance to reorganize your debts and pay some portion of it over a period of 3-5 years through a repayment plan. The court-approved plan is an excellent way to get rid of debts and get back on track financially. Los Angeles based [...]

2025-08-21T10:15:45+00:00
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Missed Bankruptcy Payments? Can Creditors Resume Collection in This Case?

Living beyond limits, using credit cards frequently can land you in huge debt. In such a case, people often find bankruptcy to be a great way out of debts. Chapter 13 bankruptcy offers debtors a chance to stop collection action while repaying some portion of their debt through a court mediated repayment plan. This plan is developed based on the disposable income of the bankruptcy filer. Disposable income puts certain financial restrictions on the debtor, eliminating all unnecessary expenses to accommodate the repayment plan. However, inform Dallas based bankruptcy law firm Recovery Law Group, people sometimes end up [...]

2025-08-21T10:16:00+00:00
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Everything You Wanted to Know About the Chapter 13 Repayment Plan

Call: 888-297-6203 Filing for bankruptcy is often the last option taken by people who have been struggling with debts for a long time. According to Los Angeles based bankruptcy law firm Recovery Law Group lawyers, people have the option of filing under Chapter 7 or Chapter 13. Ideally, Chapter 7 is preferred as it gets rid of all unsecured debts without losing many assets of the bankruptcy filer. If, however, you fail to qualify the means test, you are stuck with Chapter 13. It is therefore important to know what happens in this chapter so that you are prepared [...]

2025-08-21T10:14:35+00:00
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Who Can File for Chapter 13 Bankruptcy?

Call: 888-297-6203 When you realize that there is no way out of debts, bankruptcy might be the logical conclusion. Though, people prefer Chapter 7, very few manage to qualify for it. The other option for people is filing for bankruptcy under Chapter 13. However, lawyers of Dallas based bankruptcy law firm Recovery Law Group, say that it is essential that you qualify for the same. The eligibility criteria for Chapter 13 bankruptcy include: Only individuals and not business entities can file for Chapter 13 bankruptcy. If you had previously filed for a Chapter 13 or Chapter 7 bankruptcy [...]

2025-08-21T10:14:19+00:00
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Which Financial Situations Could Warrant a Chapter 7 Bankruptcy?

Call: 888-297-6203 Managing finances is a tricky affair. People often find it difficult to keep their finances above board. However, there can come a time, when you might have to consider bankruptcy as an option. Individuals can opt for Chapter 7 or Chapter 13 bankruptcy; however, the former is preferred. According to Los Angeles based bankruptcy law firm Recovery Law Group, the situations where Chapter 7 bankruptcy is the best way out include: Majority of your debts are due to excessive use of credit cards. Heavy reliance on credit cards can lead to an excessive amount of loans [...]

2025-08-21T10:08:45+00:00
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Bankruptcy – The Public Record Which Appears on Your Credit Report

Call: 888-297-6203 Earlier three types of public records were reported on the credit report of any individual, however, now just one – bankruptcy is reported in the credit history. Bankruptcy is generally the last resort for people who have tried in vain to get rid of their debts. Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, elaborate that different bankruptcy chapters can have different repercussions on your credit history. In Chapter 7, the filer does not pay any debts; any non-exempt property they have is sold off to pay their creditors. This type of bankruptcy [...]

2025-08-21T10:06:38+00:00
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Can Mortgage Amount Remain Despite Bankruptcy?

Call: 888-297-6203 Bankruptcy is complex and requires a lot of time to understand. Having an experienced lawyer like those of Los Angeles based bankruptcy law firm Recovery Law Group can be a huge asset. Managing various loans, filing papers and reaffirming certain debts can be quite confusing for the layman. Though, bankruptcy is considered to give you a way out from a huge amount of debts; yet sometimes certain debts might remain even after completion of your bankruptcy chapter. In the case of Chapter 13, individuals pay some portion of their debts through the repayment plan. These may [...]

2025-08-21T10:04:27+00:00
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Account Portrayal in Bankruptcy

Call: 888-297-6203 Bankruptcy can adversely affect your credit report, this is a known fact. However, what most people are unaware of is, how the status of your accounts is affected after bankruptcy. In case any individual files for bankruptcy, the accounts included remain for seven years and are then deleted. According to Dallas based bankruptcy law firm Recovery Law Group , the various representations of the accounts included in bankruptcy are: In the case of Chapter 13 bankruptcy, public records are discharged after five years from the bankruptcy filing date. Accounts included in bankruptcy which were current, remain [...]

2025-08-06T07:43:33+00:00
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