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Protect Yourself Financially by Avoiding These Mistakes
Nobody wishes to fall on bad financial times. However, almost every single individual who has filed for bankruptcy due to an excessive amount of debts has made a few common mistakes and taken unnecessary risks which have resulted in them looking for a bankruptcy attorney. If you wish to avoid such a situation, it is important to learn from the mistakes made by others. According to Dallas based bankruptcy law firm Recovery Law Group, if you have filed for bankruptcy and gotten a discharge for your debts, you need to ensure that you make amends and improve your credit rating. This can be done by avoiding making the same mistakes over and over. Some of the most common mistakes which lead people towards bankruptcy include:
- Keeping a monthly balance on credit cards
Most credit card companies charge clients 15%-28% interest on monthly balances. When you compare this to mortgage loans (nearly 4%) or car loans (2%-6%) you will find the rate exorbitantly high. Most people filing for bankruptcy owe huge credit card debt for their condition. In case you do not clear your monthly balance, you end up paying much more than you can afford. The balance keeps on adding every month eventually leading to bankruptcy.

Avoid using the credit card and instead, use a debit card. This will not only reduce the interest but will also prevent you from making unnecessary splurges.
- Spending without realizing the total cost
Most people buy stuff without realizing the actual cost of running and maintaining it. though a car loan doesn’t come at a high rate of interest, you need to add fuel, service, insurance, repairs and other additional costs and things go out of hand. The same holds true for property too. You can avoid making these purchases unless it is essential.
- Not having a monthly budget
One of the fundamentals of bankruptcy is a mandatory course in financial management. This is because people rarely plan and live on a budget. People should cut back on needless expenses and save the disposable income for a rainy day if they wish to avoid bankruptcy.
- No planning for retirement
Most people think that their social security benefits will help them in their old age. However, the amount you get will not be enough to live comfortably. Thus, it is important to save regularly if you wish to avoid falling into debt in your later years.
- Using retirement funds to repay loans
Most people are unaware that exemptions provided by state and federal government protect their retirement funds. Using money from retirement accounts to clear credit card debts will leave you without an asset and yet in debt. Moreover, credit card debts are discharged during bankruptcy.
- Not buying insurance
One of the worst things that you can do is not taking health or accident insurance. Generally, people don’t like to spend on things which are not likely to happen. However, when misfortune strikes, you end up accumulating a huge amount of medical debts which can send you spiraling down the road.
- Not looking for other earning options
Considering the economic condition prevailing currently, not looking for opportunities to earn extra money is a crime, literally. You should consider alternate earning options to support your lifestyle and save money.
- Neglecting health
Neglecting physical and mental health in order to improve your financial health will prove detrimental eventually. Not only will you end up harming your body and end up spending a huge amount of money on medical expenses.

Consult expert bankruptcy lawyers at 888-297-6023 to know more about the bankruptcy process.
*Are you more than 60 days past due on your mortgage?
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By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 27, 2019
Most Common Questions Related to Bankruptcy Answered
Though bankruptcy is a legal method of getting rid of debts, there are various misconceptions attached to the entire process. It doesn’t help with people being confused due to lack of authentic knowledge regarding the process. There are various queries related to the process, which generally remain unanswered, says Dallas based bankruptcy law firm Recovery Law Group, adding further fuel to fire. Here are some of the most common questions related to bankruptcy answered by experts.

Can I file for bankruptcy without a lawyer?

Though filing for bankruptcy without a lawyer is allowed, yet it is not recommended as there are several legalities and paperwork. A novice who has no experience in the field might end up missing filing any important documents, which may lead to the case being dismissed, or a debt being omitted from discharge, etc. Therefore, it is important to seek consultation from experienced bankruptcy attorneys and hire one to get rid of your debts. You can consult with expert bankruptcy lawyers at 888-297-6023 to know more about your case.

Which chapter of bankruptcy would best suit my needs?

Individual debtors can file for bankruptcy under Chapter 7 or Chapter 13. However, before deciding on which chapter would best suit your needs, the attorney needs to consult with you with respect to your assets, income, debts, creditors, your transactional history, etc. If you wish to get a quick discharge for your unsecured nonpriority debts, Chapter 7 is your best chance. However, if you wish to retain all your assets, you might end up choosing Chapter 13 where you can repay your debts over a period of 3 to 5 years.

Are all my debts discharged in bankruptcy?

Your debts are categorized into two – secured and unsecured debts. While the former has an asset attached with the debt, such as house mortgage, automobile loan, etc., the latter does not have any such benefit. Since the creditor of secured debt can get their dues by repossession or foreclosing on the property, these debts are generally not discharged during bankruptcy. Unsecured debts can be priority ones like alimony, child support, certain taxes, and student loan debts or nonpriority like medical bills, credit card bills, utility bills, personal loan, etc. unsecured priority debts are also not discharged during bankruptcy. Filing for bankruptcy can get rid of your unsecured nonpriority debts.

Will I lose all my assets in bankruptcy?

Both state and federal government offer exemptions to protect assets of the bankruptcy filer. Since bankruptcy is meant to be a way to give people fresh financial start, they have the right to retain equity in their belongings. You are exempted up to a fixed amount of equity in your home, vehicle, household items, pension accounts, some personal property, etc.

What happens to my credit rating?

Bankruptcy is reflected in your credit history and remains so for nearly 10 years. Though it lowers your credit rating, yet it is a boon for people who have been struggling to make ends meet. You can easily improve your credit rating after bankruptcy by seeking financial counseling and making timely payments on your bills, avoiding loan for a couple of years and living within means.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 26, 2019
Which Debts are Cleared by Bankruptcy?
Bankruptcy is an ideal way to get rid of debts. However, things can be quite confusing for the layman as the terms are often misunderstood. Though bankruptcy is meant to legally get rid of huge amounts of debts, lawyers of Dallas based bankruptcy law firm Recovery Law Group, inform that not all debts get discharged during the process. Depending on which chapter of bankruptcy you choose to file bankruptcy under, your debts can be reorganized, discharged or left as such. To know details about your options, consult with expert bankruptcy lawyers at 888-297-6023.

Chapter 7 Bankruptcy

If you want a quick discharge of several debts without making any payments towards them, this is your best bet. Also known as Liquidation Bankruptcy, it typically gives the debtor a discharge within 3-6 months of the bankruptcy filing. Majority of the debts discharged in this bankruptcy chapter include unsecured debts such as credit card bills, personal loans, medical expenses, etc. If loans such as these and other nonpriority unsecured debts like business loans, private student loans, and utility bills, etc. constitute a majority portion of your debt, then you should opt for this chapter of bankruptcy.

It is important to keep in mind that secured debts, such as those against which the creditor has collateral (house mortgage, car loan, etc.) and unsecured priority debts like alimony, student loan, child support, certain government taxes, etc. cannot be discharged. The same holds true for any debts which are related to fraud.

Chapter 13 Bankruptcy

This chapter of bankruptcy is known as Reorganisation Bankruptcy. In this case, while filing you can include all kinds of debts. A repayment plan is devised depending on your disposable income and the debts are paid over a period of 3-5 years. Any unsecured nonpriority debts which remain after this are discharged. During the repayment plan, your house cannot be foreclosed, and your vehicle repossessed if you keep making payments towards those loans. This is the best option available if you wish to prevent foreclosure, repossession or want to put a stop to interest build-up on tax debts.

Though it may seem easy, filing for bankruptcy can be quite difficult, especially if you miss out on any nuances. It is therefore advisable to consult an expert bankruptcy lawyer to help you get out of your huge financial problems by filing for bankruptcy.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 26, 2019
Simple Truths about Bankruptcy
Bankruptcy is a misinterpreted word that is not discussed in open conversation. A person declaring bankruptcy is often looked down by society. In fact, bankruptcy is a good way to save face from bad loans and lead a respectable life. Bankruptcy is substantially explained on Recovery Law Group, which will expose myths about bankruptcy.
1. # 1 myth
Bankruptcy is often considered petrifying. In fact, bankruptcy is a good solution from never-ending debts, wage garnishments, creditors pressurization. It offers a fresh start for debtors and abstains foreclosure. All a debtor need is an experienced bankruptcy advocate to make the process simple and understandable.
1. # 2 Myth
Bankruptcy is a lengthy process. What is true about bankruptcy is its time limitation. It has a specific time period within which the case is to be wrapped up. In fact, you are cleared off in 90 days under chapter 7.
1. # 3 Myth
Bankruptcy damages credit. The bad loans that the debtor has, is cleared with bankruptcy giving him a clean slate to start his financial journey.
1. # 4 Myth
The debtor is at risk of losing his assets. There are some assets that the debtor can keep and some needs to be sold off to pay the debts. Nevertheless, the debtor does not wash off with all his assets, which can be true if he does not apply for the bankruptcy. Since the creditors will wash off with every single dime. By filing bankruptcy, depending upon which law -State or Federal, under which some properties are exempted. the debtor can save some of his assets and live a decent life.

All myths are busted, and some truths are reinstated about Bankruptcy. People, over-burdened by loans, that seem impossible for them to clear off, must take advice from an experienced bankruptcy advocate to understand the right course of action. The Government of USA has designed laws to help its citizens. And citizens genuinely in need must not hesitate to take help of the bankruptcy law. They can clear their doubts by calling at- 888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 25, 2019
What is Befitting for you- Chapter 7 or Chapter 13?
Each to his own’ rightly suits about the two bankruptcy laws. While both are good, which is apt for the client depends upon his situation – The type of debt, their financial situation and the resources with the debtor. A professional practitioner in bankruptcy can help the client in deciding which is best for their situation. For detail information about chapter 7 & 13, visit Recovery Law Group.

Chapter 7

Chapter 7 bankruptcy law requires eligibility of the applicant. The applicant needs to prove his eligibility. For proving the eligibility for chapter 7, five factors are assessed.
1. Budget
The equation between the income and the expenses shows the saving quotient. Do the debtor’s expenses run higher than his savings? More importantly, is his income in the past 6 months below the median income of the State? If the monthly income is less, with no steady means to pay loans, then the applicant is eligible for chapter 7.
1. Assets
Assets can be luxurious and non-luxurious. The client can own luxurious assets and still would want to declare bankruptcy. There are some assets that the State lists under exempted, which the client can keep. The non-exempted assets like the luxurious ones whose value surpasses the limit determined by the court are put on sale to clear off the debts. Assets are evaluated to estimate the financial situation of the applicant.
1. Credit report
The credit report will show the type of debts the client has. While some debts are dischargeable, debts like a student loan, tax debt, child support loans are non-dischargeable. Such debts cannot be addressed under chapter 7 but can be addressed under chapter 13.
1. Transaction
The court investigates the latest bills and transactions of the client. If he has sold or purchased things above a limit, the court can disqualify his eligibility for chapter 7. As per court if the client is indulging in an expensive lifestyle, then he is careless of his situation and hence is not a genuine applicant for chapter 7 bankruptcy.
1. Timing
Timing is a crucial factor in deciding the eligibility of the client. Timing before filing the tax return, timing before a due bonus, may affect the eligibility. Receiving more than 25 pay-checks within the last 6 months can disqualify the applicant. The client can receive 2 paychecks per month, and while he files for chapter 7, he may land with 26 pay-checks, and get disqualified.

Chapter 13

Chapter 13 Bankruptcy Dallas is for those who have a steady income and can dispose of small amount of income every month to clear off the debt. A payment course is planned for 3 or 5 years depending upon situations. The debtor must pay till 3 years as per the repayment plan after which his loans are dischargeable. By employing chapter 13 the debtor is not only able to save his assets but partly discharged from a big loan.

The bottom line is the debtor must consult with an experienced bankruptcy advocate about his financial situation before arriving at a decision. Depending upon the financial situation the advocate can suggest the best course of action. It is not a generalized decision but a personalized one. The debtor can seek suggestions/advice by calling on-888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 24, 2019
Worried About Huge Debts? Bankruptcy Help is Available
Financial troubles can hit anyone anytime, however, this should not be the cause of worry for you. People have come out of worse conditions unscathed. According to Los Angeles based bankruptcy law firm Recovery Law Group, bankruptcy is one of the best ways to get rid of a huge amount of debts without causing much strain on your life. There can be several reasons why a person ends up accumulating large amounts of debts, such as bad financial decisions, unexpected job loss, huge credit card bills, sudden medical emergencies, etc. Irrespective of the reason, bankruptcy can help you take control of your finances. An experienced bankruptcy attorney can help you deal with the finer nuances of bankruptcy. Call expert bankruptcy lawyers at 888-297-6023 to find out the best possible way of getting rid of debts.

What to do when facing bankruptcy?
For people who have been facing bankruptcy for the first time, things may seem a bit daunting. However, the system is available to help first-timers as well as those who have previously had the misfortune of filing for bankruptcy. The government, through the Justice Department, offers basic information regarding bankruptcy in various languages. Several websites also help in providing information regarding matters pertaining to bankruptcy. You can browse through the concerned official and legal websites and opt for a free legal consultation with experienced bankruptcy lawyers to determine which chapter of bankruptcy would suit you best.

Bad financial conditions can often drive any individual to the extreme. However, help is available in the form of bankruptcy. To get the best possible solution, it is important to consult an expert bankruptcy attorney and discuss your case and finances with them. It is also important to understand what your expectations from the case are. After consultations and keeping your requirements in mind, the appropriate chapter is chosen to file bankruptcy under.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 24, 2019
When is The Best Time to File Bankruptcy?
The USA law council has designed Bankruptcy to leverage people succumbed in bad debts. People often take loans to finance a business, higher studies or for any personal work. When they take loans, they are clear of the payment strategy and follow judiciously. Apparently, people may face some problems, which may prevent them to clear loans. The loans may become huge and unmanageable. Instead of panicking they can file bankruptcy. An experienced legal professional can guide and help them in the procedure. For help visit- Recovery Law Group.

The word bankruptcy itself may scare most of the people. The client who wishes to file bankruptcy must consult an experienced advocate. The advocate will take stock of the situation and smoothen the process, rendering the client free of mounting debt. The first step, however, must come from the client.

The client must decide to file bankruptcy when
1. They are neck-deep in debt.
When a debtor takes a loan, he must pay through monthly installments. When the client is unable to pay the installments, because there is no regular flow of cash, the installments are unpaid. They hence are overlapping, making it more difficult to clear. At one point of time, the client finds himself stocked with several monthly installments and interest all laden up, with no means of clearing them. Applying for bankruptcy offers a permanent solution from this surmounting debt.
1. Threat calls
The creditors finance loans, and when they do not get regular payments after much cajoling they resort to the threat. They employ agencies/ people to collect money on behalf of them. These people can be dangerous and may try to scare the debtor to release money. The debtor not only suffers from loan repayment but also physical and mental trauma. Filing for bankruptcy not only pushes the threat monkey away but also settles the debt relieving any liability.
1. Garnishment
Garnishment is a process, wherein the creditor legally takes the money directly from the pay-check of the debtor. When this process occurs, the money swings away from the debtor’s hand leaving him with next to nothing. This makes the situation worse for the debtor. If the debtor files bankruptcy, he not only saves his pay-check, albeit gets discharge from garnishment also.
1. Counseling
Credit counseling is a professional method of helping debtors find a reasonable solution to handle debts. The debtor may take rescue under credit counseling to settle things amicably. Apparently, it did not work; although it may work for many. The debtor has no choice but to file for bankruptcy.

Bankruptcy is good news for such debtors

Filing bankruptcy not only releases the debtor permanently off the unreasonable debt but also allows them to live a respectable life after. Many people are enjoying a respectable life after filing for bankruptcy in Dallas. The debtor needs to employ an experienced advocate to file for bankruptcy in the legal office. The debtor can seek related information by calling on 888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 24, 2019
How bankruptcy can help you to wrap your failing business neatly?
Doing business can be like walking a tight rope. You can fall if you do not balance your self rightly. Rest assured, there is no harm in falling down. Businesses operate with loans and money transaction. When a business falls your revenue stops and your debts increase faster than the light. You cannot cope and you are at a loss of understanding how to escape. People often fall trap to such situation. A good legal advisor can help solve this problem. For consultation visit- Recovery Law Group.

Choosing the right path

An experienced legal advisor can analyze and suggest the best solution to overcome the debt. Filing for bankruptcy under chapter 7 can allow the debtor to clear off his debt in a one-shot, without much hassle. Yes, the business will close down, but the debtor can save his face and start afresh. The legal advisor can help file the case under chapter 7.

Is the debtor qualified to file the case under chapter 7?

A falling business can find solace from the never-ending debt by filing a bankruptcy case under Chapter 7. To start on strong foot the client must take an eligibility test before filing the case. If there is any loophole in the case, it can be dismissed, posing problems to file again. The client can test their eligibility by undergoing the means test.

The means test

The means test is the analysis of the source of income. The analysis shows that income is insufficient to manage and clear the debt. Once it is established the client becomes eligible to file the case. If the income is high the client may not be eligible. Apparently, there is a clause for high-income clients under which they can file the case. The businesses often have two types of debt,
- Personal or non-business related
- Non-consumer or business-related debt
Under this clause, if the non-consumer or business-related debt is higher than 50% of total debts, which also includes mortgage, the client is eligible for chapter 7 bankruptcy Dallas. Moreover, if the businesses do not qualify for chapter 7, they can always file a chapter 13 bankruptcy case. Under chapter 13, the client clears the decided debt amount in small batches within 3 to 5 years unlike the 90 days one-shot clearance of debt under chapter 7.

Why bankruptcy is the best solution for a sinking business?

It’s better to swim across rather than sink with the broken ship. By declaring bankruptcy, the client is able to move ahead from a sponge that could suck him entirely. Bankruptcy allows the client to wrap the business neatly with grace intact. Falling business is common, and hence people must not be afraid to come out and face the fact. Instead of sinking with the business, people can rise with a new step with bankruptcy. For more detailed information call-888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 23, 2019
Is Bankruptcy an Answer to Debt Relief?
A disability may occur to anyone at any point in time, but the gaping fact is the treatment. The treatment of a person may be quite expensive. The person may not have enough and may have to take loans to get treated. The loan could mount unreasonably making it difficult for the person to clear it off. Getting a disability benefit may help him swing through the daily chores but will not help him clear the loans. With disability, the person cannot be employed for gainful income and hence is left with little or no resources to clear the debt. People stuck in such problems can opt for filing a bankruptcy case. For more detail information visit- Recovery Law Group.

There are two chapters in the USA court that allows the debtor to file a case under bankruptcy- Chapter 7 & Chapter 13 Bankruptcy. The applicant needs to fill the form describing his situation and the need; as per their requirement, the legal representatives will offer suggestions.

Chapter 7

Chapter 7 is a one-shot method of clearing the debt. All debts are cleared in one shot with no liability left for later payment. A trustee is appointed by the court, who assesses the assets of the debtor and lists them under exempted and non-exempted properties. The exempted properties are retained by the debtor, while the non-exempted properties are sold/liquidated to clear the debt. The creditor must settle with whatever amount is gained by selling the non-exempted properties. The client before applying for Chapter 7 must realize that he /she may have to lose their asset/properties.

Chapter 13

Chapter 13 is another method of declaring bankruptcy. In chapter 13, a repayment plan is made for 3 or 5 years depending upon the source of income. A debt amount is ascertained by the trustee after evaluating the financial condition of the debtor. The creditor also has to agree on the amount. The amount is then divided into a monthly installment repayment plan that needs to be completed within 3 or 5 years. The time period cannot extend beyond 5 years.

The client applying for chapter 13 can retain his/her properties but must arrange regular monthly payment to the creditor. The applicant can apply for bankruptcy under any one chapter, depending upon their situation and choice. For more information call on- 888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 23, 2019
Advantage of evaluating the case for Social Security Disability Insurance benefits
A number of people in the USA may suffer from a disability and have no clue on how to receive benefits. Most of them do not apply merely because of too many procedures to follow. However, this does not stand true. A nationwide campaign is run to educate people and simplify the process. There are experienced legal professionals, who evaluate the case and present results within few minutes, albeit free. The professionals are especially helpful to applicants whose case has been rejected. They conjure hope in them and help them to get Disability benefits. For more information to connect with them log on to Recovery Law Group.

Benefits of evaluating the case quick and cost-free

Research shows that the chance of disability is pretty high. The Social security insurance association may receive many applications, of which some are rejected or dismissed. Many applicants do not apply or appeal again. Apparently, people who reapply have greater chances of receiving the benefits. The free counseling by the legal professionals can help evaluate the case and make them appeal their case in a better light. Evaluating the case and furnishing it with the right documents helps the applicant to receive due disability benefits.

What does the applicant get as a Social Security disability benefit?

The applicant receives money as benefit if the case is approved. The applicant will receive the first payment from the 6th month from the date of the disability.

What does the benefit entail?

The monthly payment that the applicant will receive will depend upon his/her average lifetime income. The Social Security statement of the applicant depicts the lifetime income, the retirement plans and other insurances the applicant has taken. Based on the statement an average allowance is withdrawn that is released as monthly benefit to the applicant. For more clarity call on 888-297-6203.
*Are you more than 60 days past due on your mortgage?
YesNo

*Do you own a home?
YesNo

Are you currently working?
YesNo

By clicking “Submit”, whether I do or do not purchase any products or services on this website, I hereby give my express written consent to receive calls and SMS/text messages, including calls and SMS/text messages made and sent using automated dialing equipment and/or pre-recorded or artificial voice technology and email, about offers and deals that I wish to be kept informed about from (“Partners”), at the phone number and/or email address provided on this form, including any wireless numbers provided, even if I have previously registered the provided number on any Do Not Call Registry. If I do not make a purchase on this website, it is expressly understood that the Partners retain permission to contact me as specified earlier in this paragraph. Carrier SMS/MMS and data messaging rates apply. I also agree that by clicking “Submit” that I agree to the Privacy Policy and Terms and Conditions.
August 23, 2019