Chapter 13 Bankruptcy

What Do You Understand by Disposable Income?

Many people find bankruptcy a great way out of spiraling debts. Consulting a bankruptcy attorney to find out which bankruptcy chapter suits your condition the best is important. However, people come across the term ‘disposable income’ too often during bankruptcy discussions and are often confused as to what it means. According to bankruptcy lawyers of Los Angeles based firm Recovery Law group, disposable income is the amount of your monthly gross income which remains after all essential bankruptcy expenses are subtracted from it. Disposable income is important to decide which chapter of bankruptcy you qualify; Chapter 7 to [...]

2025-08-21T13:18:30+00:00
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What is Chapter 13 Debt Release?

Bankruptcy is sometimes inevitable. It is not one of the most favorable situations to be in. But it is important to make the right moves to be able to come out of bankruptcy and to evade the creditor’s torture. When thinking or learning about bankruptcy, Chapter 7 and Chapter 13 discussions are very common. Chapter 13 is a better alternative than Chapter 7 in most cases. In case you need to determine which is best for you and why; do not hesitate to log on to Recovery Law Group  to gain a deeper insight. What is Chapter 13 bankruptcy [...]

2025-08-21T09:24:43+00:00
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Use Chapter 13 Bankruptcy to Prevent Foreclosure of Your Home

One of the major benefits of filing for bankruptcy is the automatic stay. From the date of the bankruptcy filing, an automatic stay is enforced which puts a hold on all collection actions including threatening phone calls and messages, repossession, and foreclosure. This has to be abided by all parties concerned and failure to do so can result in a legal battle as was seen in case of Caridad Hileman. The California resident filed for Chapter 13 bankruptcy but her case was dismissed. She didn’t want to lose her house to foreclosure, hence she filed again after a [...]

2025-08-21T09:27:50+00:00
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Is it Possible to get rid of Tax Debts in Bankruptcy?

Filing for bankruptcy, especially under chapter 7, can help get rid of several unsecured debts like credit card bills, medical bills, etc. However, certain debts like government taxes, or money owed to IRS or state of California, may or may not be discharged during bankruptcy. It is important to seek legal counsel, suggest Los Angeles based bankruptcy law firm Recovery Law Group to know more about this matter. To get your state and federal taxes discharged during Chapter 7 bankruptcy, you need to clear certain hurdles. More than three years have passed from your tax due date. It [...]

2025-08-21T10:42:38+00:00
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Can Chapter 13 Bankruptcy be the Solution for High-Interest Credit Cards?

Most people survive by using credit cards. Unfortunately, credit cards charge up very high-interest rate somewhere nearly 25%. Ultimately you end up paying much more than your debt. In the long run, you end up in debt for a long period of time. Let's say you owe $20,000 on your credit card bill. You will continue making a minimum payment over a 20-year period and end up paying nearly 5 times more than what you actually borrowed. With a monthly payment of $400, you will be able to clear your debt in 23 years! You also end up [...]

2025-08-11T10:44:03+00:00
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Can any 3rd Party Take Advantage of Automatic Stay in Chapter 13 Bankruptcy?

Bankruptcy is confusing and terrifying to most common people. Though there are benefits associated with it like automatic stay and discharge of unsecured debts at the end of the bankruptcy, sometimes, a bankruptcy case might be ‘hijacked’ by another debtor who wishes to take advantage of your bankruptcy case and the subsequent automatic stay. Automatic stay helps in putting arrest to all collection actions by creditors including repossession, foreclosure, threatening emails, phone calls, etc. However, Los Angeles bankruptcy lawyers https://bankruptcy.recoverylawgroup.com/ inform, creditors may request a relief from the automatic stay clause. This happens in case debtor “participated in [...]

2025-08-06T06:47:52+00:00
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Debt Limits under Chapter 13 Increased; All you need to know

Chapter 13 bankruptcy is distinguished from Chapter 7 bankruptcy norms in terms of complexity. Chapter 13 is much simpler and involves less calculation of various factors like a net of income/expenses, debt, etc. But there are some other factors to be considered for Chapter 13 eligibility. These factors can be listed as follows- The chapter is applicable only for individuals hence, business or trusts won’t qualify The individual should not have a recent disqualification Should be able to demonstrate strong sources of money for making the payments for the plans Should have debts within the Chapter 13 debt [...]

2025-08-21T09:22:24+00:00
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Child support and Bankruptcy

Child support is one of the most priority or preferential payments in the eyes of law. One might be able to evade all kinds of secured/unsecured loans but getting away with child support is probably the most difficult task no matter how poor or bankrupt you may be. One more debt that comes in this category is student loans. Students could complete graduation and apply for bankruptcy then and get away with any sort of student loan on their name. This is the primary reason why Student loan has been excluded. Similarly in the case of child support, [...]

2025-08-21T11:41:56+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 [...]

2025-08-06T06:50:19+00:00
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Hire Bankruptcy Lawyers to Defend You against Creditor Action

Filing for bankruptcy is one of the last resort people opt for, though it is the best legal option available to get rid of genuine monetary issues plaguing people. Many times people who have filed for bankruptcy might end up getting sued by the creditors for failure to make payments. In case, you have chosen to file without a lawyer (pro se) you might not be adequately prepared to handle such a scenario. In a case concerning Chapter 7 bankruptcy, the debtor prior to filing for bankruptcy had opened a home equity line with a local financial institution. [...]

2025-08-21T10:52:29+00:00
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