Credit card debt

Can Bankruptcy Be Removed from Your Credit Report?

Call: 888-297-6203 People having trouble in managing finances often resort to bankruptcy. It is the last solution to deal with excessive debt which is quite difficult to pay back. Despite getting rid of a huge amount of debt, bankruptcy can have a negative effect on your credit rating. People find it difficult to get a loan, credit card, and even job once they have filed for bankruptcy. According to Dallas based bankruptcy law firm Recovery Law Group lawyers, bankruptcy remains on your credit report for a period of seven to ten years (from the date of filing) depending [...]


Should You opt for Bankruptcy Or Debt Consolidation?

If you are under debt, don't worry; you are not alone. There are lots of people sailing in the same boat as you. There can be numerous reasons for accumulating debts such as sudden medical expenses, loss of a job, increase in mortgage, high tuition fee or buying a new vehicle. Fortunately, there is help available to get rid of huge amounts of debts; the most popular being bankruptcy. It is often the most feared and misunderstood option according to Dallas based bankruptcy law firm Recovery Law Group. Other options like debt consolidation, debt management, and debt settlement [...]


You Might Have to Face These Questions from Bankruptcy Trustee

Filing for bankruptcy results in a lot of paperwork. You need to ensure your income; assets and your debts are in order. Filing for bankruptcy results in a creditors meeting (also known as 341 hearing) where you are required to provide confirmation for any information you have given.  The meeting is attended by you and your attorney, your bankruptcy trustee and even your creditors. According to Dallas based bankruptcy law firm Recovery Law Group, the bankruptcy trustee can ask you questions to find out details of your bankruptcy estate. The entire proceeding takes place under oath, so you [...]


Avoid Making These Mistakes During Bankruptcy Filing

A common man does not always think of preparing for the worst. Therefore, many people are often at their wit's end when difficult financial situation plagues them. Though bankruptcy is the best option to get rid of unsurmountable debts, Dallas based bankruptcy law firm confirm people are often unaware of what they should or shouldn’t do when filing for bankruptcy. Having an adept bankruptcy attorney by your side can be an asset during tough financial times. Contact 888-297-6023and consult with the best legal minds to know what to do prior to a bankruptcy filing. It is very [...]


What Are the Possible Ways to Settle a Credit Card Judgment?

There are enough cases of credit card debts in Los Angeles. People have a surmounting amount to be paid as credit card loans. Most of these credit card loans are unsecured loans; which means the creditors cannot seize credit card owners’ assets if he/she fails to pay the loans. However, the creditor can take rescue and file a case against the debtor. Once he gets a judgment against the debtor, he can propel the debtor to respond in court and take steps to seize the debtor’s assets. For good advice on how to settle a credit card judgement, [...]


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 [...]


Automatic Stay – Way to Stop Your Creditors

One of the best advantages that bankruptcy can offer debtors is an automatic stay. this puts an immediate end to all collection actions and any civil lawsuit filed against you by the creditors, government or collection agencies. The upside of the automatic stay as per Los Angeles based bankruptcy law firm Recovery Law Group  is that it can help you prevent being evicted or protect your property from being repossessed or foreclosed on, utilities being disconnected or wage garnishment. For more information on automatic stay, call 888-297-6023 and speak with expert bankruptcy lawyers. What can automatic stay prevent? The [...]


Can Credit Cards be Secured Loans?

Credit card loans always relate to unsecured loans by default. That’s what most of us are used to hearing. However, there can be circumstances when credit card loan can be a secured one too. The basic distinction between secured and unsecured loan is that there is a lien or an asset attached as collateral for the lender to capitalize in order to recover the debt. This holds good only if the debtor defaults or misses payments due consistently. To learn more about loans, bankruptcy, and other financial information, log on to Recovery Law Group, the encyclopedia to address [...]


Embezzlement Debts During Bankruptcy

Embezzlement refers to liability occurring from criminal, fraud, litigation and other malpractice. The jury or court usually orders an individual to pay fines or compensation or penalty based on the crime or law/code violation. This kind of debt is referred to as embezzlement debt. The common doubt or question people have is; Will the embezzlement debt be discharged during bankruptcy? It is important to learn that the type of debts held by the person filing bankruptcy is usually arranged on the basis of priority to determine the discharge or release ability. In the array or order, the embezzlement [...]


What Impact Does Low Bankruptcy Filing in Los Angeles has?

Most of the people living in cities like Los Angeles and Dallas, TX face the dilemma of whether to file for bankruptcy or not. In the last decade, there were quite a large number of people who used to file up for bankruptcy to overcome their debt. However, this number has rapidly declined in the past few years to such an extent that it has reached to lowest of the past 10 years. According to the statistics shown by the United States Bankruptcy Court, the number of bankruptcy filings in Central district of California has dropped down to [...]

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