file for bankruptcy

Medical Debts Might Lead To Filing For Bankruptcy

Call: 888-297-6203 According to the Census Bureau, one out of six Americans does not have health insurance. Thus, suffering from an illness or other medical problems has become one of the most common reasons to file for bankruptcy. Most of us are surviving on the edge in the current economic circumstances. According to the data of the Census, revolving debt of about $5,100 is carried by the average American cardholder at any one time. It takes only an illness or an accident to make people fall behind on their bills. After that, the rates of interest are increased [...]


Re-Filing For Bankruptcy

Call: 888-297-6203 If you have been bankrupt in the past and have also fall victim to the headlong fall in the economy, you might probably be thinking about the number of times a person can file for bankruptcy. Receiving a discharge in the most recent bankruptcy and kind of bankruptcy that was filed, will determine whether a person will be allowed to re-file a bankruptcy or not. You can file for bankruptcy as many times as you want, but there is a limit on how frequently you can file for it. Once you have received a discharge in [...]


Bankruptcy – A Great Way to Improve Your Credit Score

Call: 888-297-6203 The credit score of an individual is a point of concern for them. Many people have tried their level best to improve their credit score but in vain. You will be surprised to find that bankruptcy can be of aid to you in such times. Dallas based bankruptcy law firm Recovery Law Group lawyers enlighten that when you have hit rock bottom in terms of credit score, the only place to go is up. Bankruptcy wipes your slate clean offering you a fresh financial start. However, before deciding to file for bankruptcy, it is important that [...]


What to do in Case You Have an Incorrect Address on Your Credit Report?

Call: 888-297-6203 Being in debt can send anyone in a tizzy. You might not be aware of how many documents you are required to fill and submit in order to file for bankruptcy. When you file for bankruptcy, you are expected to list all your creditors along with the debts you owe them. Sometimes, a mistake can cause the entry of an incorrect address which then appears on your credit report. This can be really frustrating for the bankruptcy filer since they are already under tremendous stress. However, experienced lawyers such as those of Los Angeles based bankruptcy [...]


How Long Does It Take to Rebuild Credit?

Call: 888-297-6203 In terms of credit rating, nothing could be worse than bankruptcy. Since it has long term effects on your credit history, you should weigh in all options before choosing to file for bankruptcy. As per Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is a red flag which warns creditors of your financial issues. Depending on the bankruptcy chapter, the bankruptcy record remains on your credit report for 7-10 years. Thus, for this duration, you will be facing negative effects such as getting new credit at reasonable rates, etc. Though bankruptcy can cause numerous [...]


Can Bankruptcy Protect You and Your Property?

Bankruptcy is a legal way to get rid of your debts. You can get rid of a huge amount of unsecured debts while protecting your exempted assets from going under the hammer. When you file for bankruptcy, Los Angeles based bankruptcy law firm Recovery Law Group lawyers enlighten that any collection action including foreclosure, wage garnishment or bank levies are put to an end. You have access to your financial accounts and with the bankruptcy petition, any wage garnishment done 90 days prior to filing can be returned and taxes levied, refunded. Another advantage of filing for bankruptcy [...]


How to Get Back After Bankruptcy?

Bankruptcy is a tiring times for people. Even after getting a discharge in their bankruptcy case, it is difficult for people to bounce back from it. Your credit ratings get hit and you might feel down and low. However, Los Angeles based bankruptcy law firm lawyers say that with hard work and time, you can recover from the hit bankruptcy takes on your life. For a better analysis of your situation, you can contact expert bankruptcy lawyers at 888-297-6023. Though filing for bankruptcy is tough, it is important to take stock of the situations which led to [...]


Are You Filing for Bankruptcy? What Happens to Your Mortgage?

Bankruptcy court acts as a shield between you and your creditors to provide you breathing space and a fresh financial start. Though the law is designed to provide respite to you, it does not do so at the cost of your creditors. You need to pay for your secured loans like mortgages. One of the best aspects of bankruptcy filing is the automatic stay which prohibits all sorts of collection actions against you. Thanks to it, your home and car cannot be foreclosed or repossessed. In case repossession is done, they have to return it. Moreover, any liens [...]


Can Income Taxes be discharged in Bankruptcy?

The unsecured debts such as medical bills or credit card bills are discharged after people get a bankruptcy discharge. This is 3-4 months from a bankruptcy filing in case of Chapter 7 and after 3-5 years in the case of Chapter 13 repayment plan. However, some debts are not discharged like government taxes or spousal/child support, etc. Though under certain circumstances, local, state and federal income taxes can be discharged along with any interest and penalty fees in Chapter 7, Chapter 11 and Chapter 13 bankruptcy. However, not all taxes are dischargeable. To discern which taxes can and [...]

Load More Posts