Debt Settlement Attorney

Chapter 11 vs Chapter 13

Call: 888-297-6203 Chapter 11 and Chapter 13 are two very similar bankruptcy chapters. The major difference between the two chapters is that Chapter 13 is exclusively for individuals while Chapter 11 is open for businesses as well as individuals. Also, there is a ceiling for unsecured and secured debt in Chapter 13 which is absent in Chapter 11. Chapter 11 can also be regarded as an expedited Chapter 13 in many situations as the process of bankruptcy under Chapter 11 is usually very swift. The reason for this higher fees, private bankruptcy trustee, faster processing, etc. Chapter 11 [...]

2023-06-26T07:16:26+00:00
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Credit Card Suits And Bankruptcy

Call: 888-297-6203 A credit card company might file a lawsuit against its customer to obtain a lien against any of the assets to recoup its dues. This lawsuit usually can only be prevented by filing for bankruptcy under chapter 7 or chapter 13. Credit card companies want to recover their investment by all means and filing a lawsuit to recover is one of them. Apart from obtaining a lien on the asset that makes it difficult for the debtor to sell or preserve the asset during the bankruptcy process or otherwise, the suit can have a significant impact [...]

2023-03-30T11:57:25+00:00
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Impact Of Bankruptcy On Credit Score

Call: 888-297-6203 Bankruptcy can have several impacts some good some not so great. The good can be relief from the pestering lenders for recouping their investment, some discharge, some new starts on a clean slate, and what not. However, the biggest drawback in bankruptcy is with respect to the credit score. A credit score is hurt significantly during bankruptcy. The impact can depend on chapter 7 or chapter 13 and the net discharged amount. The higher the amount discharged, the bigger damage it leads to the credit score. To know more about the flaws and advantages of bankruptcy [...]

2023-03-30T11:58:56+00:00
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What Happens To Alimony And Child Support Debts During Bankruptcy?

Call: 888-297-6203 Discharge of debts is one of the most lucrative aspects of bankruptcy. Many businesses as well as individuals consider bankruptcy to discharge their debts. However, for most people discharge of debts is a significant relief in times of extreme distress. If you have debts or liabilities with respect to alimony or child support, you might be disappointed to learn that such debts cannot be discharged during bankruptcy. However, the other dischargeable debts once qualified can be discharged making way for easier repayments of alimony and child support. To know more about non-dischargeable debts, log on to [...]

2023-03-30T12:01:27+00:00
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What Is A Bankruptcy Court?

Call: 888-297-6203 A bankruptcy court is a federal court structure like any other court form that deals with bankruptcies. A bankruptcy court usually has very nominal or less filing fees and consists of attorneys that may represent the bankruptcy filer. The court facilitates individuals as well as businesses. It is not mandatory to hire an attorney especially when the debt amount is low, however, hiring an attorney helps in streamlining the process and ensuring there are no technical errors in filing procedures. Learn about bankruptcy and its intricacies at https://recoverylawgroup.com/bankruptcy/. Characteristics of a bankruptcy court A bankruptcy court [...]

2023-01-19T05:28:42+00:00
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What Happens To The Personal Injury Lawsuit Award During Bankruptcy?

Call: 888-297-6203 One of the most common reasons to be filing bankruptcy is the medical costs. This could have occurred due to someone’s negligence and there may be a personal injury lawsuit in progress to avail in a reasonable claim for the damage caused. Whether or not the award is used to suffice the lender’s debt, depends on two factors. One is the amount of exemption available to the bankruptcy filer while filing chapter 7 and the other is the type of personal injury lawsuit award. The rules for availing exemption for the award may be complex and [...]

2023-03-30T12:03:45+00:00
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How To Clean Your Financial Slate And Start Over?

Call: 888-297-6203 A few of us often get into different uncomfortable situations and just hope we could start over again with a clean slate. It is not possible in all situations however, if your finances are messed up and you are not able to pay back your bills and lenders, there is a way to reboot fresh. The solution to the financial mess is bankruptcy. It is the last resort to avail relief during the stressful financial condition. If you are too traumatized by debts, you are not able to clear your payments on time, you do not [...]

2023-03-31T06:12:13+00:00
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Planning For Bankruptcy Before Or After Divorce

Call: 888-297-6203 Los Angles & Dallas, TX bankruptcy filers often file for bankruptcy to evade child support and alimony immediately after the divorce. However, it is important to note that child support and alimony fall under non-negotiable debts and should continue even after declaring bankruptcy. Many filers also want to seek to stay on the property divisions that were settled as per the divorce decree to prevent losing their assets. However, it is important to note that declaring bankruptcy will usually not overturn any domestic court decisions regarding the division of property, alimony, and child support. What are [...]

2023-03-31T06:14:17+00:00
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Counseling And Education Requirements During Bankruptcy

Call: 888-297-6203 Bankruptcy is certainly an unfortunate event, and it calls for an experience or learning. Bankruptcy might be about relieving stress and facilitating some financial relief to the filer, but it is also about making sure similar financial mistakes are not repeated. As per stats, over 15% of the filers can be repeated bankruptcy filers. These stats suggest people do not learn from their mistakes and keep falling into the debt trap due to poor financial management. The bankruptcy court hence mandates counseling requirements and a debtor education program that is part of the bankruptcy process. Credit [...]

2023-03-31T06:16:38+00:00
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Detailed Steps To Filing Bankruptcy

Call: 888-297-6203 Filing for bankruptcy can involve many steps. The first and most critical decision one must make is whether bankruptcy is required to be filed or not. The second decision is to determine the chapter in which the bankruptcy will be filed. It can be chapter 7 or chapter 13. This link https://recoverylawgroup.com/bankruptcy/ can help you determine whether bankruptcy is essential for you or not. If yes, you can also find guidance in picking the right chapter whether 7 or 13. The detailed steps to filing bankruptcy can be listed as follows- Petition A voluntary petition is [...]

2023-03-31T06:18:49+00:00
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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.