Foreclosure Lawyers

What Effect Can My Bankruptcy Record Have on My Life?

A bankruptcy filing is a tough yet necessary decision that people struggling with huge financial debts must make. It may take time to get your debts discharged, depending on the chapter of bankruptcy you’ve filed. While it takes about 3-6 months to get a discharge in a Chapter 7 bankruptcy case, Dallas based bankruptcy law firm Recovery Law Group, informs that a Chapter 13 case continues for 3-5 years’ period before you can get a discharge on remaining unsecured nonpriority debts. However, once you have filed for bankruptcy, the case becomes public record and can be seen by [...]


Can the Chapter 13 Bankruptcy Plan be Extended Beyond Five Years?

People going through a bad financial phase often opt for bankruptcy to get rid of their debts. Individuals can either opt to liquidate their non-exempt property to pay their creditors under Chapter 7 bankruptcy or choose to repay their loans over a period of 3-5 years in Chapter 13 bankruptcy. However, if some claims persist even after the repayment plan is over, does the individual have the option of extending the repayment plan? According to Dallas based bankruptcy law firm Recovery Law Group, such a provision is not possible. However, expert bankruptcy lawyers at 888-297-6023 inform that you [...]


The Bankruptcy Court and Social Media

Can the bankruptcy court interfere with social media space? Well, the answer is certainly yes but not if they are personal social media accounts but definitely if they are social media accounts used for business purposes. This question has popped up after a recent judgment by a Texas bankruptcy court. If any social media platform like Twitter, Instagram, Facebook, etc., are used for promoting business, they can be included in the bankruptcy estate. Not only that, but the bankruptcy court may also order the bankruptcy filer to submit the password of these social media accounts. The same level [...]


Which Chapter of Bankruptcy Would Work Best for Me?

People, when confounded with huge amounts of debts, are often looking for ways to get out of this grim situation. Filing for bankruptcy is one of the options that they can choose. However, there are other options also available, say lawyers of Los Angeles based bankruptcy law firm, to provide you with a fresh start. Individuals can file for either Chapter 7 or Chapter 13 bankruptcy, however, each has eligibility requirements; you should have income low enough to pass the Chapter 7 means test or substantial disposable income apart from a dollar limit cap on your debts [...]


The Bankruptcy Filing By An Undocumented Immigrant

An undocumented immigrant can file for bankruptcy if he/she has a Social Security Number. In lieu of a social security number, Individual Taxpayer Identification Number can also be used to file for bankruptcy. There can be a negative impact on the immigration status of the bankruptcy filer when filing for bankruptcy as an undocumented immigrant. For best assistance and more insight on bankruptcy, log on to Recovery Law Group now. What do the rules indicate? The bankruptcy code does not have a specific mention for the bankruptcy to be filed by a citizen of the United States or [...]


What Happens in a Chapter 13 Confirmation Hearing?

Chapter 13 bankruptcy involves the creation of a repayment plan. In this case, all nonpriority unsecured debtors are paid over a period of 3 to 5-years, some portion of the debtor’s disposable income to settle their dues. A bankruptcy trustee is assigned by the court to oversee the proceedings and to distribute the dues as per the repayment plan. However, the proposed plan gets confirmed only after the approval of the judge at the Chapter 13 confirmation hearing. However, bankruptcy lawyers of Dallas based law firm Recovery Law Group inform that there might be objections to the plan. [...]


What do you understand by wildcard exemption?

Are you looking to protect a property that is quite important and dear to you? Now that is easily possible with a wildcard exemption. Now, you no longer need to worry about losing important and valuable items which hold a very high value in your life, while filing for bankruptcy. As per the new norm, if your state has a “wildcard exemption” you can protect and safeguard invaluable items from being given away or foreclosure. The property that you want to protect or safeguard completely differs from state to state. Hence, depending on your residential location, you will [...]


Trustee’s Role in Chapter 7 Bankruptcy

Bankruptcy is a great way to get rid of a huge amount of debts. People can file under chapter 7 or chapter 13. When any individual files for bankruptcy under chapter 7, a trustee is appointed by the court to oversee the proceedings of the case. According to Los Angeles based bankruptcy law firm Recovery Law Group, the bankruptcy trustee has various responsibilities including evaluating paperwork, selling of non-exempt property, etc. What does a trustee do? The bankruptcy trustee is appointed by the court as an independent evaluator for the case. The trustee gets paid to examine your [...]


Foreclosure and Bankruptcy

Foreclosure is a very stressful condition and it requires immediate assistance. Foreclosure is not always right and there can be scenarios when it can be easily prevented. A talk or a piece of advice from an experienced attorney can do wonders on most days. Log on to Recovery Law Group to reach out the best attorneys in town to help you or your friend out in case of a foreclosure. The consultation offered is not only confidential but is very professional too. Foreclosure basically means an exercise of a right by the lender to acquire, liquidate or sell [...]


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 [...]

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