chapter 7 bankruptcy lawyers

What Happens to Student Loan Debt in Bankruptcy?

Student debt is one of the debts which does not get discharged during bankruptcy; neither in Chapter 7 nor in Chapter 13 unless you can prove that repaying them can cause undue hardship to you. According to Dallas based bankruptcy law firm https://bankruptcy.recoverylawgroup.com/, different tests are used by different courts to determine undue hardship. In the undue hardship test, most courts offer you to get either the entire loan discharged or nothing at all; while some courts might allow you a partial discharge of student loan. To get this loan discharged during bankruptcy, either you should have very [...]

2023-03-07T10:00:19+00:00
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Under What Circumstances Can Debt Discharge be a Problem with Chapter 7 bankruptcy

Debt discharge or release can be regarded as one of the major benefits of chapter 7 bankruptcy San Antonio. However, it can be so that the debt discharge might be limited, or one might not get any discharge. Why does this happen, how to avoid this? All these questions will be addressed below. Meanwhile, address all other worries or questions about bankruptcy and their chapters on https://bankruptcy.recoverylawgroup.com/. Legal reasons for not qualifying for a discharge The two common legal barriers for not qualifying for a debt release can be listed as follows- Error in procedure The bankruptcy court [...]

2023-03-13T08:51:04+00:00
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The Means Test For Chapter 7 Bankruptcy Eligibility

Bankruptcy has different Chapters which can have certain benefits or disadvantages depending on the specific financial condition of an individual. The first step before deciding on filing for bankruptcy is to analyze the eligibility aspects. An individual can qualify for one or more Chapters simultaneously or there could be some adjustments made based on the suggestions of reliable attorney to qualify for beneficial bankruptcy code. Recovery Law Group can not only help you find an excellent attorney but can also guide you through with some basics of bankruptcy and its Chapters. Chapter 7 ideology Chapter 7 is based [...]

2021-12-07T07:35:26+00:00
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How Much Should You Pay Your Attorney For a Chapter 7 Bankruptcy?

Attorney fees are one of the important considerations when filing bankruptcy because it has to be paid 100% and any type of expense during bankruptcy could be burdening. Establishing a relativeness between what you had expected from an attorney on a price bracket helps you determine and adjust your attorney needs. To learn more about bankruptcy, attorneys and law log on to Recovery Law Group. How does the attorney fees vary based on location? It is obvious to see a difference in pricing based on location. For instance, an attorney in California will be far more expensive than [...]

2023-04-21T12:28:36+00:00
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Do You Own a House and are Filing for Chapter 7 Bankruptcy? Here Are Your Options

When you file for bankruptcy to get rid of your debts, there are certain concerns regarding your assets, especially your house. According to lawyers of Dallas based bankruptcy law firm Recovery Law Group, you have the option of retaining your house, delaying foreclosure or letting the house go when you file for Chapter 7 bankruptcy. However, you can only keep your home in a liquidation bankruptcy if you are current on your mortgage payments and there isn’t significant equity in the home to pay creditors. What happens to your home during bankruptcy depends a lot on various other [...]

2023-01-12T10:57:48+00:00
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Debts That You May Continue to Pay During Chapter 7 Bankruptcy

Chapter 7 is advocated as one of the best Chapters to release a good amount of debt with zero obligation after the bankruptcy process. However, this might not hold true under some scenarios. The filer might have to continue to pay out some of the debts during and after Chapter 7 bankruptcy. To assess if Chapter 7 could actually kill all your debts or not, it is best to analyze some of the debts, you may still be obliged for even after filing for Chapter 7 bankruptcy. For more information relating to bankruptcy and Chapter 7, log on [...]

2023-05-05T06:27:42+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 [...]

2023-04-11T08:19:01+00:00
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Common Avoidable Mistakes for Chapter 7 Means Test

A Means test is an eligibility test that is carried to assess the eligibility for Chapter 7 bankruptcy. However, means test is not one of the simplest tests to carry out, which creates possibilities of multiple errors. Some of them could be avoided and the eligibility for Chapter 7 can be made much easier. To learn more about Chapter 7, eligibility, alternatives, and best attorneys in your town to help you deal with this financial crisis, log on to Recovery Law Group . Some quite common avoidable errors can be listed as follows- Do you really need to [...]

2023-03-31T14:30:41+00:00
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How to Protect Your Home During Bankruptcy?

Most people take mortgages when they purchase their house. With time the property value might appreciate or depreciate. Being unable to make mortgage payments might send you in debt. When you file for bankruptcy, you have options to save your home. However, an accurate assessment of what your home is worth is essential. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group , when you file for bankruptcy, some equity of homestead exemption is available to protect your home. Individuals can opt for federal or state exemptions (if the choice is available in their [...]

2023-05-19T06:59:23+00:00
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The Bankruptcy Filing By An Undocumented Immigrant

An undocumented immigrant can file for bankruptcy if he/she has a Social Security Number. In lieu of a social security number, Individual Taxpayer Identification Number can also be used to file for bankruptcy. There can be a negative impact on the immigration status of the bankruptcy filer when filing for bankruptcy as an undocumented immigrant. For best assistance and more insight on bankruptcy, log on to Recovery Law Group now. What do the rules indicate? The bankruptcy code does not have a specific mention for the bankruptcy to be filed by a citizen of the United States or [...]

2019-07-29T09:57:57+00:00
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