Chapter 13 repayment plan

Ignoring These Foreclosure Myths is Essential

People who have been struggling with finances often are worried about losing their assets like a car or home to foreclosure. This is primarily because of the various myths associated with the foreclosure. According to Dallas based bankruptcy law firm Recovery Law Group,  separating fact from fiction can be quite difficult, unless you have experienced lawyers to handle your case. Some of the basic myths associated with foreclosure include: Bankruptcy cannot stop foreclosure One of the biggest advantages of filing for bankruptcy is undoubtedly the automatic stay provision that puts an end to all collection actions including foreclosure! [...]


The Basics of Chapter 13 Bankruptcy Cramdown

Chapter 13 bankruptcy allows you to reduce the principal balance on a debt to the value of the property in case of secured debt. This is known as cramdown and can help save your debt on real estate investment, car loan and some other properties. Dallas based bankruptcy law firm Recovery Law Group, inform that cramdown can be an asset to reduce the debt on certain secured loans. To know more about cramdown, contact expert bankruptcy lawyers at 888-297-6023 and discuss about your case. Secured debts are those assets against which the creditor has collateral. These include car [...]