Filing for bankruptcy

Ownership of A Business While Filing For Bankruptcy

Call: 888-297-6203 So you are a business owner and are in need to file for bankruptcy. What will be your company’s plight in such a case? Firstly, you must understand that in most of the cases your company is a distinctly separate entity under the law, whether it is a corporation or an LLC. Imagine your company as its own legal representative, completely separate from yourself. Your company does not necessarily need to follow suit, simply because you have filed for bankruptcy. In fact, there might not be a need to have your company filed in case it [...]


Are You Thinking of Filing for Bankruptcy? Here’s What You Can Expect?

Call: 888-297-6203 Since there is a lot of confusion surrounding the bankruptcy process, it is better if you are aware of what to expect when you file for a Chapter 7 or Chapter 13 bankruptcy. The best way to do that, say Los Angeles based bankruptcy law firm is to hire experienced lawyers. In case, you are contemplating bankruptcy filing and haven’t yet hired a lawyer, you can call experienced bankruptcy attorneys at 888-297-6023 to discuss your case. The initial process in either chapter of bankruptcy is similar; beginning with a consultation with a lawyer. You need [...]


Filing for Bankruptcy? Know What Constitutes an Asset in Your Bankruptcy Case?

Call: 888-297-6203 Bankruptcy is designed to get rid of huge amounts of debt in order to get you a fresh financial start. However, this can be unfair to the creditors if they are unable to receive anything in return. Thus, in case of Chapter 7, your non-exempt property is liquidated, and the proceeds distributed among your creditors; while in case of Chapter 13 bankruptcy, a repayment plan is devised based on your disposable income. While filing for bankruptcy, you are expected to list all your assets in the bankruptcy petition. This allows the bankruptcy trustee to find out [...]


Tips to Rebuild Credit Score After Bankruptcy

Call: 888-297-6203 Bankruptcy has earned a bad name because it causes a big dent to your credit report, which many people fear is irreparable. However, Dallas based bankruptcy law firm Recovery Law Group say, nothing can be further from the truth. Bankruptcy does have negative effects which make people vary of filing for bankruptcy despite struggling with debts. Bankruptcy appears on your credit report and stays for 7-10 years depending on which chapter of bankruptcy you have opted. This may alert prospective creditors of your financial situation. However, if you think you won’t get any credit for this duration, [...]


Automatic Stay Stops Creditors in Their Tracks

Call: 888-297-6203 When you have fallen behind on your dues, there is no way of preventing the threatening actions of creditors. You will end up facing harassing phone calls and threatening emails seeking legal action against you. Dallas based bankruptcy law firm Recovery Law Group, say that filing for bankruptcy can be the best way to not just get rid of this nuisance but also of a large amount of unsecured debts which are holding you back. Once you file for bankruptcy, the court orders the automatic stay order to be served to all the creditors listed in [...]


Warning Signs That Suggest You Should Consider Filing for Bankruptcy

Call: 888-297-6203 For an individual or a business, filing for bankruptcy is probably a stigma that will ruin their credit history and personal name for a long time to come. However, if you could keep your emotions in check, Dallas based bankruptcy law firm Recovery Law Group, says, bankruptcy is probably the wisest decision one could make to take control of struggling finances. It is often difficult to be objective when it comes to the personal economy, therefore, here are a few warning signs that you should consult professionals for seeking advice regarding bankruptcy: You are finding it [...]


Bankruptcy Exemptions in Texas

Call: 888-297-6203 Despite bankruptcy being a federal process, you will be surprised to know that bankruptcy laws vary from state to state. Thus, knowledge about federal as well as state laws concerning bankruptcy is extremely important if you are considering bankruptcy as an option to get rid of your debts. Having experienced attorneys by your side, such as those of Los Angeles based bankruptcy law firm Recovery Law Group, can be an asset in such cases. In case, you are looking for debt relief options and want to know about your state bankruptcy exceptions, you can call 888-297-6023 [...]


Homeowner’s Equity in Chapter 7

Call: 888-297-6203 Filing for bankruptcy is a tough decision for people. This is like admitting that they have been unable to manage their finances in a responsible way. However, once you have run out of options to get rid of your debts, filing for bankruptcy might be ideal. Individual debtors can choose from Chapter 7 or Chapter 13 bankruptcy, though most prefer the former over latter. It is important to remember that while getting rid of debts, you might end up losing some of your assets when you file for Chapter 7 bankruptcy. As per lawyers of Los [...]


Need to Update Your Bankruptcy Information? Here’s What You Should Do

Bankruptcy involves a lot of paperwork, both while filing for it and even after discharge. It is therefore important to have legal representation to get through with it smoothly. In case you are looking for legal representation, you can call 888-297-6023 to know more about bankruptcy and its discharge. Generally, post-bankruptcy discharge, creditors update information in their accounts which are eventually displayed on the credit reports. However, many times creditors don’t update the information. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group, there are options available for individuals if their creditors haven’t updated [...]


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 [...]

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