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 [...]

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 [...]

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 [...]