Bankruptcy

Call: 888-297-6203 As more and more consumers file for bankruptcy, it is important to understand what the contributing cause might be. According to Los Angeles based bankruptcy law firm Recovery Law Group apart from credit card bills, the other major contributing factor to personal bankruptcy is huge medical bills. One can easily blame the rising cost of healthcare for financially ruining any person. Accumulation of medical bills has become one of the major reasons for an increased bankruptcy filing. In case a person loses their job and the medical bills keep on piling, the financial issues could be [...]

Call: 888-297-6203 Many people are worried that filing for bankruptcy will shut all doors of getting credit for them. However, this is not true at all. Though bankruptcy appears on your credit report, it does not mean that you won’t be able to buy a home after getting your bankruptcy discharge. On the contrary say Dallas based bankruptcy law firm Recovery Law Group lawyers, since all your bad debts are written off in bankruptcy, you are considered a good person to give credit to. In fact, applying for a credit card is the best way to rebuild your [...]

Call: 888-297-6203 If you are worried about huge amounts of debts, then bankruptcy is an excellent way to get rid of them. Almost all debts are eliminated in bankruptcy, except a few say Los Angeles based bankruptcy law firm Recovery Law Group lawyers. You can regain your financial independence by opting for bankruptcy. Most unsecured debts can be wiped off in bankruptcy. the debts you can eliminate include credit card debts, medical bills, business debts, negligence claims, gasoline and store charge cards, unpaid rent, lawsuit judgements, promissory notes, utility bills, debts due to car accidents, mortgages, personal loans [...]

Call: 888-297-6203 Filing for bankruptcy might be a challenging thing to do. Although it solves your financial problems, it does create others. Some of those problems can be really serious too. Filing for bankruptcy will affect every financial aspect of your life. Thus, it’s important to consult a proficient legal firm like The Recovery Law Group, regarding the short and long term effects of bankruptcy before filing for it. You can reach them at Recovery Law Group or 888-297-6203. Chapter 7 and Chapter 13 are the highly sought-after forms of bankruptcy. In Chapter 7 bankruptcy, you get rid [...]

Call: 888-297-6203 To go bankrupt means to run out of enough money to pay your debts or to have liabilities more than the assets. In bankruptcy, an individual files for a specific chapter bankruptcy depending on his or her situation. The two most common bankruptcies are Chapter 7 and Chapter 13 bankruptcy. Although filing for bankruptcy helps you in discharging your debts, it is an avoidable serious decision. Inability to get new loans because of low credit scores (Chapter 7 filing has more adverse effects than Chapter 13 filing), surrendering the personal property, the uncertain dischargeable status of [...]

Call: 888-297-6203 Once you’re certain about filing bankruptcy, you must determine the bankruptcy that suits your situation – Chapter 7 or Chapter 13. Given below is an overview of the two types of bankruptcy (Chapters 7 & 13), to help you make the right decision. Chapter 7 Bankruptcy It involves liquidation of the debtor’s secured assets (a house or a car) and discharge of unsecured debts (unpaid medical bills, credit card bills, etc.). Its paperwork contains a list of all the properties of the debtor and the possible state or federal ‘exemptions’ for each of them. ‘Exemptions’ work [...]

Call: 888-297-6203 A bankruptcy filing is a legal process that frees an individual or businesses from the financial obligation of repaying the debts they owe. In some cases, it’s an ideal opportunity for creditors to claw back some of the debts that are due to them. This process has its own pros and cons. So, it’s better to make every possible effort like doing a part-time job, making only necessary expenses, etc. to supervise your debt obligations before going ahead with bankruptcy. It’ll be better to consult a competent bankruptcy law firm like The Recovery Law Group (https://www.staging.recoverylawgroup.com/ [...]