chapter 7 bankruptcy

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
Read More

When is Chapter 13 More Advantageous Than Chapter 7?

The common tendency of bankruptcy filers is to believe that Chapter 7 is better than Chapter 13. Yes, Chapter 7 has many benefits, but it can outrightly not be regarded as the best alternative compared to Chapter 13. There are many scenarios when Chapter 13 can prove more advantageous than Chapter 7. Every bankruptcy chapter has some or the other benefits and flaws. To learn more about all the Chapters and their technicalities log on to Recovery Law Group. Some of the Chapter 13 benefits over Chapter 7 can be listed as follows- When you are not eligible [...]

2019-08-02T08:02:51+00:00
Read More

Tips to Qualify For Chapter 13 Bankruptcy Code

There is a specific debt threshold for filing Chapter 13 apart from the regular income criteria. The debt of the filer has to be under the threshold in order to qualify for Chapter 13. Additionally, he/she has to possess sufficient income in order to sponsor his/her future payment plan. This is only possible if there is a considerable amount of disposable income, which is the net of income and some basic expenditures. To know more amazing stuff about bankruptcy and eligibility criterions, log on to Recovery Law Group now. If you just compared your debts with the Chapter [...]

2019-08-02T08:02:21+00:00
Read More

Save Your House with Chapter 13 Bankruptcy

People worried about bankruptcy might find it difficult to believe that it can help you out of financial distress. Chapter 13 bankruptcy, say Dallas based bankruptcy law firm Recovery Law Group lawyers, offers you to catch up on mortgage payments, reduce some secured debts, pay a small amount of your unsecured debts while getting rid of the remaining through its repayment plan. Apart from this, you can also contest foreclosure proceedings, claims for costs for missed payments and get rid of liens on your home through bankruptcy! Contemplating filing for bankruptcy? Consult with bankruptcy lawyers at 888-297-6023 to [...]

2023-04-11T08:28:30+00:00
Read More

Responsibilities when filing bankruptcy under Chapter 13

Chapter 13 filing forms are pretty similar to the forms used for Chapter 7. The information and objectives are the same in both cases. This procedure includes detail of income, assets or properties, expenses, and debts. Along with this information, you shall also provide for a plan that shall manage all the debts in the future 3-5 years. Along with these information pieces, you also need to enclose your latest federal and state tax returns. There has to be proof for income tax filing for the last 4 years. You also have to avail a certificate for credit [...]

2019-07-29T09:54:51+00:00
Read More

Is Keeping All Your Property in Chapter 13 Bankruptcy a Wise Decision?

Filing for bankruptcy is a decision that people are reluctant to take because many times it involves letting go of your property. According to exemptions provided by state and federal government, lawyers of Dallas based bankruptcy law firm Recovery Law Group, explain that you can keep only the amount of property which is exempt. Any non-exempt property is sold to pay off your unsecured creditors in a Chapter 7 bankruptcy case. Contrary to this, Chapter 13 bankruptcy allows you to keep the non-exempt property if you pay your unsecured nonpriority creditors an amount equal to the non-exempt property [...]

2023-04-11T08:34:48+00:00
Read More

How to Determine Chapter 13 Bankruptcy Eligibility?

Chapter 13 can be a very good option for many people, especially those who are struggling to keep up their assets intact even after filing bankruptcy. However, not all filers are eligible to apply for Chapter 13 bankruptcy code. There some basic requirements to be eligible for filing under Chapter 13. These can be listed as follows- No lag with respect to income tax filing whether federal or state The debt is within the predefined threshold Should be employed or should have some income source to fund the payment plan to be determined under Chapter 13 Should be [...]

2023-05-05T05:45:11+00:00
Read More

Filing Bankruptcy When Unemployed

Filing for bankruptcy does not specifically mention the requirement of an income source. But, directly or indirectly there is a significant impact of employment on eligibility for Chapter 7 and Chapter 13. If you have lost a high salary job recently, you might end up qualifying for Chapter 7 and at the same time, if you just lost the job and are unemployed while filing bankruptcy, you won’t qualify for Chapter 13. It's really tricky when it comes to employment and bankruptcy. To know more such interesting stuff about bankruptcy, log on to Recovery Law Group. What are [...]

2023-04-21T12:26:59+00:00
Read More

Basic Steps for Filing Chapter 7 Bankruptcy

Filing for bankruptcy is a complex process and needs professional guidance to deal with the nuances. Call 888-297-6023 to discuss your case. Although you could file for bankruptcy without lawyer too, Dallas based bankruptcy law firm Recovery Law Group inform, it is not likely to end up with a discharge. The basic steps involved in Chapter 7 bankruptcy are: Analyzing your debt Before filing for bankruptcy, find out which debts will remain even after bankruptcy. These debts include student loan, child and spousal support and any recent tax debts. Any collateral pledged for debt is likely to be [...]

2023-04-11T08:37:18+00:00
Read More

An Overview of Chapter 7 Bankruptcy Process

If you are looking to file for bankruptcy, Los Angeles based bankruptcy law firm Recovery Law Group, suggests Chapter 7 as one of the best ways to get rid of your debts, provided you are able to qualify for the same. A typical Chapter 7 bankruptcy process consists of six steps: You are required to complete a mandatory credit counseling course before you file your bankruptcy papers. This can be one either online or by phone. You need to fill your bankruptcy forms. These are available online. Along with the forms you are expected to provide a list [...]

2023-05-05T05:47:04+00:00
Read More
Load More Posts

Recovery Law Group Logo

888-297-6203

Headquarters

309 W 11th Street,
Anderson, IN 46016
310-997-0471
Clients:
customerservice@recoverylawgroup.com
Attorneys / Trustees and Court Officials:
Info@recoverylawgroup.com

PAID ATTORNEY ADVERTISEMENT: Wajda & Associates is a law firm. This website is an advertisement. It is not a lawyer referral service or prepaid legal services plan. Each of the lawyers on this site are either Managers, Members, Partners, Limited Partners or staff attorneys. An attorney responsible for the content of this Site is Nicholas Wajda, APC. licensed in California, Texas, and Indiana with offices at 309 W 11th Street Anderson, IN 46016. To see the attorney in your area who is responsible for this advertisement, please  Click here.  Prior results do not guarantee a similar outcome.
We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.