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Factors Which Help Attorney to Decide if Bankruptcy is the Best Option for You

When any person is finding it difficult to make ends meet and has a huge debt piling on, there are two options available for them; either opt for bankruptcy or for a debt repayment plan. People in difficult financial situations should make it a point to consult either a financial counselor or a bankruptcy attorney to find the best possible way to get out of their financial mess. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group , the various factors to consider to decide which option will work for the client include: Your [...]


Protect Yourself Financially by Avoiding These Mistakes

Nobody wishes to fall on bad financial times. However, almost every single individual who has filed for bankruptcy due to an excessive amount of debts has made a few common mistakes and taken unnecessary risks which have resulted in them looking for a bankruptcy attorney. If you wish to avoid such a situation, it is important to learn from the mistakes made by others. According to Dallas based bankruptcy law firm Recovery Law Group, if you have filed for bankruptcy and gotten a discharge for your debts, you need to ensure that you make amends and improve your [...]


Who Can Qualify for Bankruptcy?

Misfortune can come calling to anyone. None can save themselves when bad luck strikes. There are several examples of wealthy and influential people having to file for bankruptcy because they had accumulated many bad loans. Bankruptcy has been used by both individuals and organizations to get rid of various debts. According to Los Angeles based bankruptcy law firm, a good bankruptcy lawyer knows that to judge a person under heavy financial debt is futile because there are a number of reasons apart from the obvious, which can lead to a person accumulating huge debts. Some of the [...]


Is it Possible to get rid of Tax Debts in Bankruptcy?

Filing for bankruptcy, especially under chapter 7, can help get rid of several unsecured debts like credit card bills, medical bills, etc. However, certain debts like government taxes, or money owed to IRS or state of California, may or may not be discharged during bankruptcy. It is important to seek legal counsel, suggest Los Angeles based bankruptcy law firm Recovery Law Group to know more about this matter. To get your state and federal taxes discharged during Chapter 7 bankruptcy, you need to clear certain hurdles. More than three years have passed from your tax due date. It [...]