chapter 7 bankruptcy

Can Taxes Owed To IRS Be Discharged In Chapter 7 Bankruptcy?

Call: 888-297-6203 Bankruptcy filing is a tough but necessary decision, especially if you struggle with a huge debt. Loss of a job, sudden medical expenses, or a messy divorce can lead to an unexpected monetary crunch. If you are facing difficulty in managing finances and have creditors hounding you, seeking consultation from a bankruptcy attorney is advised. One of the major concerns is whether taxes owed to IRS can be discharged on bankruptcy filing? For this, you need to fulfill certain conditions. The 3-year rule: As per Bankruptcy Code 507(a)(8)(A)(i), taxes become due on April 15 of the [...]

2023-06-27T07:28:49+00:00
Read More

What To Expect In Bankruptcy?

Call: 888-297-6203 1) Meeting an Attorney The most important step before filing bankruptcy is meeting with the right attorney who will help you with all of your problems and will give you the right choices. You can also contact Recovery Law Group from Los Angeles & Dallas, TX for the Same. Contact - (888-297-6203). 2) Deciding of the Chapter to file in Another important decision you need to make is deciding whether you need to file for chapter 7 or chapter 13. Both are good in their sense and have their advantages and disadvantages. Chapter 13 will give [...]

2023-06-05T12:01:49+00:00
Read More

Do You Have A Domestic Support Obligation? – This Is What You Need To Know

Call: 888-297-6203 Whether you file for bankruptcy under chapter 7 or 13, discharging a domestic support obligation is not possible. However, filing for bankruptcy can help you to reduce your overall debts which can ultimately help you pay off your support obligation. 1. How to manage your monthly support obligation while you file for bankruptcy – When you file for bankruptcy, all your payments (excluding a few) go on automatic stay – which is that the creditors cannot harass you anymore for payments until the court passes a judgment. However, the stay does not include a domestic support [...]

2023-04-21T12:02:14+00:00
Read More

What Will Happen To Credit Card Debt In Chapter 7 Bankruptcy?

Call: 888-297-6203 Credit cards are often used by everyone, it may be because it has several benefits that come with them and when you have the money you pay it off. Sudden unemployment or pandemic like Covid 19 can make you use your card for necessities and can’t even pay for it. This has a solution, if you qualify to apply for chapter 7 bankruptcy, then your credit card debts can easily be discharged. There are 2 types of credit card accounts and bankruptcy affects each differently- Unsecured credit account- the majority of credit cards and departmental store [...]

2023-05-29T12:29:45+00:00
Read More

Bankruptcy And Child Support

Call: 888-297-6203 Your child support debt can get under control using chapter 7 or chapter 13 bankruptcy. The best thing is, to erase other debts in Chapter 7 so that you will have more money to pay towards your child support in the chapter 13 repayment plan. Even though child support is a non-dischargeable debt that you can't wipe out, you will have certain options like erasing your other debts in Chapter 7 and devoting more funds towards child support rearranging afterward or paying off child support over the three to five-year plan in chapter 13. Child support [...]

2023-03-30T09:58:17+00:00
Read More

Will You Have To Include Your Corporate Credit Card When Filing For Bankruptcy?

Call: 888-297-6203 One of the major reasons to file for bankruptcy is credit card debts and it is understandable if you don’t want your employer to know about it. It all depends on the type of account you have and the employer’s policies. Types of corporate credit card accounts- If it is for travel expenses or for buying supplies then it might be one of these An authorized user account An obligor account.  The type of account will help you to know whether or not you should keep using it and if you should list it on the [...]

2023-05-19T07:33:41+00:00
Read More

Are There Any Age Restrictions When It Comes To Filing For Bankruptcy?

Call: 888-297-6203 There is no age limit when it comes to filing for bankruptcy that is you can never be too young or too old for filing for bankruptcy, it is just your situations and your circumstances that will reveal whether bankruptcy is the best option or not. Legal view ? Legally all young adults and senior citizens can file for bankruptcy but it is not necessary that you should file, it all depends on your situation. It is also not necessary that the court will grant the bankrupt status or not. The most common chapters that one [...]

2023-04-19T13:30:14+00:00
Read More

What Is Chapter 7 Bankruptcy?

Call: 888-297-6203 Here you will get to know what chapter 7 bankruptcy is and what properties can be exempted and how you can get the maximum benefit. DISCLAIMER- This is not necessarily to be applied to your case, all depends on which state you are in and what is your financial conditions. To know more about your situation contact a good bankruptcy legal counsel. If you live in or near Los Angeles & Dallas, TX, contact Recovery law group-(888-297-6203). Chapter 7 bankruptcy?  Chapter 7 bankruptcy is also called straight bankruptcy, it has no repayment plan and usually, it [...]

2023-04-19T13:14:36+00:00
Read More

The Basic Difference Between Chapter 7 And Chapter 13

Call: 888-297-6203 There are two types of bankruptcy, and it is managed at the federal level, so the principles of it are the same everywhere except California. Chapter 7? In chapter 7 bankruptcy, the process called liquidation is followed, here you sell your assets to a trustee who in turn sells them to settle your debt. Most of your debts can be settled here except, some like student loans, alimony, etc. most dischargeable debts are emitted but first you have to pass the means test. There are 2 ways to take the test, Form 122A-1: Chapter 7 Statement of [...]

2023-04-19T12:12:35+00:00
Read More

What Are Chapter 7 And Chapter 13? What Is The Difference?

Call: 888-297-6203 In this article, you will know what kinds of debts can be discharged under each and who is eligible for chapter 7 and who is eligible for chapter 13. Chapter 7? Chapter 7 bankruptcy is also called “ straight bankruptcy”. Here all your dischargeable debts are discharged, you just have to keep a list of debts you owe to each company and the list of your assets. There are assets called exempt property which include home, car, and anything essential to start a new life but here also there is a limit to the value of [...]

2022-04-05T07:34:11+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
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 help people file bankruptcy petitions to obtain relief under the bankruptcy code.