experienced bankruptcy attorney

Chapter 13 Hardship Discharge

Call: 888-297-6203 Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, confirm that any debtor who qualifies for Chapter 13 bankruptcy get numerous benefits including protection from collection actions taken by creditors. While people filing for Chapter 7 often end up losing some of their property in order to get a bankruptcy discharge, Chapter 13 bankruptcy filers can keep the non-exempt property if they pay their creditors a portion of the amount. Sometimes, however, unforeseen circumstances might force debtors to face unexpected financial problems which might make it difficult to make payments as per the court [...]


The Means Test Calculator in Chapter 7 Bankruptcy

Chapter 7 or liquidation bankruptcy is preferred by most people since it enables people to get a discharge within a smaller time frame (3-6 months) compared to Chapter 13 bankruptcy (3-5 years). Moreover, with various exemptions available, people are often able to protect almost their entire equity in their assets and get away with paying little towards their debts before getting them discharged. However, the catch is that if you wish to file under Chapter 7 bankruptcy, you need to pass the means test. As per lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, the [...]


What Options are Available in Case of Business Bankruptcy?

In this age where jobs are few and rare, many people turn entrepreneurs. However, starting your business is a risk. People often take loans to finance their dream. Many times, the lines between business finance and personal finance become hazy. In such a case, it is often difficult to separate the two. This becomes an issue if the business takes a downhill turn. According to Dallas based bankruptcy law firm Recovery Law Group, such an issue can be problematic at personal and business levels. Irrespective of the reason for your financial troubles, bankruptcy is always a viable option. [...]


Tax Mistakes to Avoid While Filing for Bankruptcy

Liquidation can frankly be quite overwhelming and confusing for an average person. Filing for taxes while considering bankruptcy (either Chapter 7 or Chapter 13) is double trouble. In case you are confused regarding tax filing during the trying times of bankruptcy filing, you can call expert bankruptcy attorneys at 888-297-6023 to find out about your options. Out of the two possible chapters under which individuals can file for bankruptcy is Chapter 7. This results in the discharge of all unsecured debts like a credit card, medical and even income tax debt in rare cases. Under Chapter 13, you [...]


Effect of Individual Bankruptcy Filing For Married Couples

It isn’t uncommon that an individual encounters a bankruptcy condition. But the fact that in a marriage, when one of the individuals goes bankrupt, he/ she is wary of the situation and is perplexed as to the consequences of filing bankruptcy alone. A bank attorney will help you clarify your doubts, especially around the impact of filing bankruptcy on the other partner when one spouse want to file one. The Bankruptcy estate – California Being a community property state, California’s rules cover the assets that are acquired post marriage as the properties that belong to both the partners, [...]