Bankruptcy

What is Emergency Bankruptcy Filing?

Creditors can go to any lengths to get their money back. This may include threatening phone calls, foreclosure, repossession, wage garnishment, collection lawsuit, etc. If you are on the verge of getting evicted or any similar situation, bankruptcy can come in handy. When you file for bankruptcy in court, the automatic stay provision protects you from all collection actions by creditors. However, bankruptcy filing requires you to fill several forms. This requires time, which you don’t have. Dallas based bankruptcy law firm https://bankruptcy.staging.recoverylawgroup.com/, suggest an alternative. You can opt for an emergency bankruptcy filing, also known as skeleton [...]

2019-08-06T11:20:05+00:00
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Secured Debt and Its Technicalities

Secured debt is the troublesome part during bankruptcy. There is a fear of foreclosure, lien and various other threats when it comes to secured loans. Whether opting for bankruptcy under Chapter 7 or under Chapter 13, there is a good percentage of risk with respect to the secured assets. To begin with, let's understand secured debt. A secured debt is any debt that is backed up with collateral or an asset, which acts security for the lender. To know the meaning of more such technical terms and to understand them better, log on to https://bankruptcy.staging.recoverylawgroup.com/. Home mortgage and [...]

2019-08-06T11:19:37+00:00
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Filing for Bankruptcy is Easy When You Have All Details!

Filing for bankruptcy can be quite traumatic for people. Dealing with financial instability can take a toll on you. Having to look for various forms to file the bankruptcy petition can be an added burden. However, filing for bankruptcy is not that tough when you have the assistance of able bankruptcy lawyers, say Los Angeles based bankruptcy law firm Recovery Law Group. A copy of official bankruptcy forms can be printed from the official United States courts website. Additional forms required by local bankruptcy court might have to be filled apart from the official forms. The rules and [...]

2019-08-02T08:01:38+00:00
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Are There Alternatives to Bankruptcy?

When faced with huge financial problems, people often resort to filing for bankruptcy. Undoubtedly, it offers great respite for people, especially when it comes to harassing collection actions from the creditors. However, bankruptcy can negatively affect your credit report. According to Dallas based bankruptcy law firm Recovery Law Group, there a number of other viable options are also available for people struggling with debt. To know more about them you can call 888-297-6023 and speak with expert bankruptcy lawyers. The alternate options depend largely on what your primary objective for filing bankruptcy is. If you wish to get [...]

2019-08-02T08:03:38+00:00
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Is it Possible for a Legal Citizen (noncitizen) to file for a Bankruptcy?

It is possible for a legal citizen (not a US Citizen) to file for bankruptcy, but you must check with your attorney before doing so, to ensure that it is not affecting your citizenship application in any way. To find out in details regarding how to file, contact Bankruptcy attorney at 888-297-6203 or Recovery Law Group. Legal Residents are Eligible to File for bankruptcy If you are a Legal Resident (noncitizen) and reside in the United States or have a domicile or a business in the United States, then you can file for bankruptcy as any other citizen [...]

2019-07-29T09:55:31+00:00
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How to Protect Your Home during Bankruptcy?

Most people take mortgages when they purchase their house. With time the property value might appreciate or depreciate. Being unable to make mortgage payments might send you in debt. When you file for bankruptcy, you have options to save your home. However, an accurate assessment of what your home is worth is essential. According to lawyers of Los Angeles based bankruptcy law firm Recovery Law Group , when you file for bankruptcy, some equity of homestead exemption is available to protect your home. Individuals can opt for federal or state exemptions (if the choice is available in their [...]

2019-07-29T09:55:56+00:00
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Filing Bankruptcy When Unemployed

Filing for bankruptcy does not specifically mention the requirement of an income source. But, directly or indirectly there is a significant impact of employment on eligibility for Chapter 7 and Chapter 13. If you have lost a high salary job recently, you might end up qualifying for Chapter 7 and at the same time, if you just lost the job and are unemployed while filing bankruptcy, you won’t qualify for Chapter 13. It's really tricky when it comes to employment and bankruptcy. To know more such interesting stuff about bankruptcy, log on to Recovery Law Group. What are [...]

2019-07-29T09:56:23+00:00
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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 [...]

2019-07-29T09:57:57+00:00
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What is Contingent, Disputed or Unliquidated Bankruptcy?

Bankruptcy filing involves the submission of accurate information in order to ensure the process is fair and transparent. The information submitted plays a very vital role in the bankruptcy court decision making. The common focus of information can be listed as follows- What is the amount of money do you make from all your consistent sources? How much dues do you have pending? What are the different assets/properties owned by you? What is your monthly expenditure budget? Was there any transfer of asset recently? These are some critical questions which are to be addressed before filing for bankruptcy. [...]

2019-07-24T09:28:45+00:00
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What Happens to Retirement Plans in Bankruptcy?

When you file for bankruptcy, certain assets are protected under exemptions. Apart from the equity in the home, a vehicle, and household necessities, your pension and retirement funds are included in such exemptions. However, there are limitations attached to them too, inform experienced bankruptcy lawyers of Dallas based firm Recovery Law Group . It is important to know the rules prior to a bankruptcy filing. After overhauling of bankruptcy laws by the Congress in 2005, nearly all ERISA-qualified retirement accounts and pension plan funds are protected from collection action of creditors, with some exceptions. In the case of [...]

2019-07-24T09:28:09+00:00
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