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Is It Sensible to File for Chapter 13 Bankruptcy to Save Oneself from an Eviction?

Call: 888-297-6203 Imagine, you have not paid the rent to your landlord since past few months, and now your landlord wants to evict you from his property. When the landlord handed you the eviction notice, you offered to pay the late rent (you just got it from a friend who owed it to you), but he asked you to pay an extra $900 to cover the lawyer’s fee, too. According to you, the lawyer didn’t do any work, so you refused to pay that extra amount. Now, in order to stop the landlord from going ahead with the [...]

2019-10-11T12:17:49+00:00

Can Chapter 13 Bankruptcy be Bad for You?

Call: 888-297-6203 Despite what you have read or heard, bankruptcy might not always be the best way to get rid of debts, say, lawyers of Dallas based bankruptcy law firm https://www.staging.recoverylawgroup.com/. Though there are numerous instances when Chapter 13 bankruptcy plan has worked for the greater good of the debtor, there are some instances when filing for Chapter 13 bankruptcy might not be the best move. For instance, a client who is already five years into debt consolidation pays $400 per month with a remaining balance of $3,500. His home is worth $300,000 while he owes $325,000 on [...]

2019-10-11T12:16:53+00:00

Lien Stripping Permissible for Chapter 20 bankruptcy if you are a resident of Fourth Circuit

Call: 888-297-6203 If a debtor is filing for bankruptcy under chapter 20 in Fourth Circuit, he/she can be eliminated to pay second mortgages and other junior liens under certain circumstances. As per the above statement, if you are a resident of Fourth Circuit – Maryland, Virginia, North/South Carolina, and you have filed for chapter 13 bankruptcy immediately after filing for Chapter 7 bankruptcy, your second mortgage, junior liens, and HELOCs can be waived off. Confused? Let us get into the detail..!! What do you mean by Lien Stripping? Under Chapter 13 of bankruptcy, you can eliminate/waive off any [...]

2019-10-11T11:34:29+00:00

Is Social Security Excluded from Disposable Income in Chapter 13 Bankruptcy?

Call: 888-297-6203 According to the ruling of the Fourth Circuit, people who file for Chapter 13 bankruptcy do not need to include social security as part of their disposable income. This is a huge relief say lawyers of Dallas based bankruptcy law firm Recovery Law Group as the social security income can be saved and you might have surplus income after paying expenses and all planned payments as part of the repayment plan. Most states are undecided with respect to the inclusion of social security in your disposable income during a Chapter 13 bankruptcy. Despite bankruptcy code stating [...]

2019-10-11T11:33:02+00:00

Chapter 13 Debtors with Above Average Income Are in For a Shock

Call: 888-297-6203 According to a ruling of Ninth Circuit Court of Appeals, Chapter 13 bankruptcy filers who have above-median income compared to people of that state and have no disposable income to pay unsecured creditors cannot opt for a 3-year repayment plan. They will be in bankruptcy for the entire 5 years duration. Chapter 13 bankruptcy lasts for 3-5 years depending on your household income. As per Los Angeles based bankruptcy law firm Recovery Law Group lawyers, people with income below state median remain in bankruptcy for 3 years while those with above median income have bankruptcy plan [...]

2019-10-11T11:31:28+00:00

Can You Buy a New Car During Chapter 13 Bankruptcy?

Call: 888-297-6203 There are many times when misfortune keeps on entering your life. Lawyers of Los Angeles based bankruptcy law firm https://www.staging.recoverylawgroup.com/discuss a case where a couple who was in a 5 year Chapter 13 bankruptcy plan had the misfortune of losing their car to fire. Though the insurance declared it a total loss and offered them $13,000; buying a new car while in their 3rd year of bankruptcy can be a big dilemma. In case there was no money owed on the vehicle, it is easier for the owners. However, if some money is owed then you [...]

2019-10-11T11:29:42+00:00

Can You File for Bankruptcy on Foreclosure Sale Eve?

Call: 888-297-6203 Heavy debts can cause numerous problems. Threatening phone calls and emails from debt collectors apart, you could lose your wages, your car or your home to repossession or foreclosure if timely intervention is not done. Filing for personal bankruptcy (Chapter 7 or Chapter 13) puts an automatic stay in place which not only stops the threatening phone calls but also halts repossession or foreclosure proceedings. However, if you file for bankruptcy just on the eve of your foreclosure sale, Los Angeles based bankruptcy law firm https://www.staging.recoverylawgroup.com/ lawyers say things could be a bit tricky. There are [...]

2019-10-14T08:14:15+00:00

Can Bankruptcy be Used to Get Rid of Judgement Liens on Property?

Call: 888-297-6203 Many times, life throws curveballs at you because of which you might have to take a harsh decision like bankruptcy. Los Angeles based bankruptcy law firm https://www.staging.recoverylawgroup.com/ handled a case where the petitioner had taken over his mother’s home as she was unable to make payments. The property had no equity when this transaction occurred. Since then the client paid all delinquent house payments, mortgage, and taxes for many years. During this duration, the value of the property increased. However, before selling it for a profit, it was discovered that there were 5 judgment liens against [...]

2019-10-11T11:25:22+00:00

Can Charity Contributions Affect Bankruptcy Proceedings?

Call: 888-297-6203 Charity begins at home, and your home is where your heart lies. Many people believe in donating to causes which are dear to them. If the debts become too much, bankruptcy might be the only way out say Los Angeles based bankruptcy law firm https://www.staging.recoverylawgroup.com/. However, there may be concerns about whether they will be able to continue making donations to their favorite charity, or whether previously made donations could affect their bankruptcy? This was taken care of by the amendment made by Congress in 2006. The Religious Liberty and Charitable Donation Clarification Act has been [...]

2019-10-11T11:22:14+00:00

Will You be Able to Protect Your Inheritance During Bankruptcy?

Call: 888-297-6203 Getting an inheritance can be overwhelming, especially if your debts are piling high. However, many people fail to keep in mind that if they get an inheritance while their bankruptcy proceedings are underway, they might end up losing all of it. As per Dallas based bankruptcy law firm https://www.staging.recoverylawgroup.com/, any inheritance received within 6 months of bankruptcy filing becomes a part of your bankruptcy estate. The bankruptcy trustee may take away that inheritance and use it to pay your creditors. Since most people never think of inheritance and bankruptcy in the same duration, being prepared for [...]

2019-10-11T11:21:16+00:00
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