chapter 7 bankruptcy

The Exemptions That Fall Under Federal Bankruptcy

Call: 888-297-6203 As per the rules of a few states, you are permitted to use the Federal Bankruptcy exemptions rather than the States exemptions. This completely depends on the state that you belong to- Bankruptcy This article will guide you – Name of states that allow you to select federal bankruptcy exemptions The permissible limit under federal exemptions Where to look for your States Exemptions Can you use the Federal Bankruptcy Exemption? At present, only a few states permit the filers to choose between state or federal bankruptcy exemptions. However, you must select only 1 and not both. [...]

2023-04-19T09:34:08+00:00
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Is Bankruptcy Filing Possible Even If I Can’t Leave The House Due To Coronavirus?

Call: 888-297-6203 Desperate times require desperate measures. Considering that the COVID-19 pandemic has made it difficult for people to step out, the rules for filing for bankruptcy have also been amended. Thanks to the temporarily changing of rules, many courts now allow bankruptcy lawyers to represent their quarantined clients. So, the primary step to getting a bankruptcy discharge is hiring an adequate bankruptcy lawyer. Since you cannot step out to look for one, you can ask your friends, neighbors, or family members for references. You can also find a lawyer using the online directory or through the State [...]

2022-03-22T06:09:20+00:00
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Basics Of Bankruptcy

Call: 888-297-6203 If you planning to file for bankruptcy, the first and foremost step is to understand what bankruptcy is and the details about it. It is important for you to know the in and out before you plan to go ahead with it. Here, you will find all the details that you need to know about bankruptcy- Types of bankruptcy Difference between Chapter 7 and Chapter 13 Under what circumstances should you file for which Chapter Exemptions that you can or cannot get The various tests for qualifying for each chapter However, if you decide on going [...]

2023-04-14T08:53:42+00:00
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Can Bankruptcy Filing Cause Me To Lose My Checking Or Saving Account?

Call: 888-297-6203 One of the major concerns people have while filing for chapter 7 bankruptcy is whether they can keep their savings and other accounts or not. According to lawyers of Los Angeles based law firm, banks usually do not close the savings or checking account and the amount in those accounts is also protected (up to a certain limit) in most states. However, there are exceptions especially if the money comes from exempt sources like public benefits etc. In case you have a loan with the bank, they may freeze your accounts when you file for bankruptcy. [...]

2023-04-11T10:29:22+00:00
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Which Exemptions Are Allowed In Chapter 13 Bankruptcy?

Call: 888-297-6203 If you are worried about losing all your belonging when you file for bankruptcy, you are mistaken, say lawyers of Los Angeles based law firm. The state exemptions can help protect your exempt property. Unfortunately, the non-exempt property is liquidated in chapter 7 while you can keep it in chapter 13 if you can pay for them through your 3-5 years repayment plan. Importance of exemption in chapter 13 bankruptcy In chapter 13 bankruptcy you can even keep non-exempt property by paying for them through the court approved monthly repayment plan. Generally, the bankruptcy trustee oversees [...]

2023-04-11T10:23:27+00:00
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Can Personal Bankruptcy Lawyers In Kingman, Arizona Help You Get Rid Of Your Debts?

Call: 888-297-6203 The pressure of mounting debts and your inability to clear them can cause you to live in a constant state of tension. Mental pressure can manifest into physical health issues as well as constant fights within your home. Your peace of mind, happiness, and comfort of your family, as well as the future of your kids, can be in jeopardy if something is not done within time. You might even end up losing your home, car, or other property due to foreclosure or repossession. Since this is nothing short of a nightmare, you need to look [...]

2023-04-11T10:18:39+00:00
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Finding An Insolvency Lawyer In Maricopa, Arizona Can Be Easy With The Assistance

Call: 888-297-6203 Constant arguments with your better half can build up stress in your life which can result in sleepless nights. Most of the time arguments are due to money problems. If you are unable to pay your debts, you might end up losing your home, car, or other property due to repossession or foreclosure. This might affect your family life as well as your kid’s future. If that is the situation, you need to take charge and look for an experienced bankruptcy lawyer in Maricopa, Arizona who specializes in debt consolidation and bankruptcy. Find out more about [...]

2023-04-11T09:54:18+00:00
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Bankruptcy Options for Struggling Business During Coronavirus Crisis

Call: 888-297-6203 Different bankruptcy chapters offer various benefits depending on whether an individual or a company is filing for it. According to lawyers of Los Angeles law firm (https://www.recoverylawgroup.com/bankruptcy/), a business that is unable to generate an income, can file under chapter 7 to shut it down. Similarly, for people with minimum property and low income to repay debts can also file under this chapter. Chapter 7 is known as liquidation bankruptcy since the trustees can sell any non-exempt property of the company or individual to repay unsecured creditors. However, certain assets are protected through state and federal [...]

2023-03-31T06:01:53+00:00
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Which among Chapter 11 or Chapter 13 is a better option?

Call: 888-297-6203 For people struggling to pay their debts due to financial problems, chapter 11 and chapter 13 are the two best options for reorganizing the debts. According to lawyers of Los Angeles law firm (https://recoverylawgroup.com/bankruptcy/), chapter 13 is generally for people who wish to keep non-exempt property. Chapter 11 is for businesses and individuals with debts more than chapter 13 limits. Businesses cannot file under chapter 13 and it is usually preferred by individuals and sole proprietors. Chapter 11 bankruptcy Chapter 11 is available for both individual filers and businesses. Debtors can reorganize their finances and keep [...]

2023-01-17T13:20:48+00:00
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What is the Motor Vehicle Exemption in Chapter 7 Bankruptcy?

Call: 888-297-6203 While filing for Chapter 7 bankruptcy, you can protect some equity in your vehicle (car, van, truck, motorcycle, etc.) through vehicle exemption. If there is enough equity, you might be able to keep your car even after the bankruptcy filing. This is possible through the motor vehicle exemption that is available in both state and federal bankruptcy law. According to motor vehicle exemption, bankruptcy filers are allowed certain equity in the motor vehicle when they file for chapter 7 bankruptcy. While some states allow you to choose between state and federal exemptions, there are others that [...]

2023-04-11T09:51:49+00:00
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