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  • Is it Possible to Reopen Your Bankruptcy Case?

    Is it Possible to Reopen Your Bankruptcy Case?

    Call: 888-297-6203

    When people file for bankruptcy, their bankruptcy can either be dismissed because it does not fulfill all criteria, lacks some important document or has valid objections raised against it by creditors; or, the bankruptcy is discharged once all responsibilities are completed (dues are cleared). However, inform Los Angeles based bankruptcy law firm Recovery Law Group lawyers, sometimes, the bankruptcy case is closed without a discharge. Since bankruptcy is a complex process, closure of case without discharge is possible. If this is the case, you will require the assistance of experienced bankruptcy lawyers. You can call 888-297-6023 to schedule an appointment with the best-qualified attorneys.

    Sometimes, your bankruptcy file might be closed because of a mistake- like not completing the mandatory credit counseling course or worse, completing it and forgetting to attach the certificate. Since the course is compulsory, the lack of certificate might cause your case to be closed without a discharge. Not listing all your creditors and/or your assets is another reason which can cause your bankruptcy file Los Angeles to be closed without a discharge. An experienced bankruptcy lawyer can guide you through the process of reopening your bankruptcy file or you could avoid making these mistakes altogether if you hired an attorney from the start.


      *Are you more than 60 days past due on your mortgage?

      *Do you own a home?

      Are you currently working?

      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.

    • Vehicle Repossession in Bankruptcy

      Vehicle Repossession in Bankruptcy

      Debts against which the creditor has collateral are known as secured debts. Examples of secured debts include automobile loan, mortgage, etc. Since both these are essential for living a comfortable life, it is important that you are not behind on payments for such loans. Having a vehicle has become a necessity these days, considering that commuting time is considerably reduced due to them. Missing payments on your automobile loan can have severe consequences. The lender can repossess the vehicle if you end up missing payments. However, having experienced lawyers like those of Los Angeles based bankruptcy law firm Recovery Law Group can help stop such proceedings effectively.

      You will be surprised to know that repossession is far easier than foreclosing on your home or threatening with a lawsuit in case of credit card dues. Vehicle insurance is mandatory in some states. If you neglect the insurance coverage of the vehicle and are current with the loan company, you might still end up losing your vehicle. Generally, if you miss one payment, you get a reminder call to make payment along with the late fees. However, if you fail to make a payment on the due loan, the lender can act against you, which includes repossessing the vehicle.

      Can you protect yourself against creditor action?

      Though defaulting on the loan provides the lender a chance to repossess the vehicle, there are certain protections in place for the owner too. These include:

      • The lender (or any other person acting on behalf of the lender) cannot enter your closed garage without permission.
      • They cannot threaten or use force against you.
      • Violation of any of the laws can result in a legal damage case against them.
      • Any personal property within the vehicle when it is seized by the lender remains your property.
      • The lender must ensure the safety of any such property and provide you with details regarding its retrieval.

      In case you decide to not pay the arrears and repossession cost, the lender has the right to keep or sell the repossessed vehicle. However, they need to intimate you when and where the vehicle will be auctioned off. You can bid for your vehicle if you choose to. It is important that the vehicle is sold for a fair market price. In case, the lender sells it below market rate, you can claim damages against the lender and argue for a deficiency judgment. If you are behind on your automobile loan payments and are on the verge of vehicle repossession, it is important you call 888-297-6023 to schedule an appointment with adept bankruptcy attorneys Los Angeles before any legal action is taken against you.


        *Are you more than 60 days past due on your mortgage?

        *Do you own a home?

        Are you currently working?

        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.

      • Marriage and Bankruptcy: What Happens If A Person with Great Credit Marries Another Who is Fresh Out of Bankruptcy?

        Marriage and Bankruptcy: What Happens If A Person with Great Credit Marries Another Who is Fresh Out of Bankruptcy?

        Call: 888-297-6203

        Marriage is a big decision, something which should be taken after much deliberation. Since money is often the bone of contention in most marriages which might result in divorce, having money matters sorted prior to getting married is an excellent decision. Unforeseen circumstances can send anyone in financial distress. People who decide to get married to someone who is fresh out of bankruptcy, are often worried about the effect of this decision on their finances.

        According to Los Angeles based bankruptcy law firm Recovery Law Group, marriage is not going to join the individuals’ credit automatically. If both have their individual accounts without any joint account, they won’t have any shared credit history. Keeping credit histories separate for long after the marriage is, however, a difficult task to accomplish. For any big purchase like a house, you are required to apply jointly so that both names are on the mortgage. In this case, the income as well as credit history of both parties, are considered for evaluating the risk associated on the loan.

        If one of the partners has a bankruptcy on their credit report, getting new credit, such as that for a mortgage might be slightly difficult. Bankruptcy remains on credit report for a duration of 10 years in case of Chapter 7 bankruptcy and 7 years in case of Chapter 13 bankruptcy Los Angeles. Unforeseen circumstances leading to bankruptcy are manageable but overspending and money management issues will likely wreak havoc in your marriage.

        Sharing credit reports and being aware of the financial situation of both you and your partner provides you with an opportunity to manage the finances. Discussing things before marriage is advised as you can avoid several problems later. Professional assistance can be taken from bankruptcy lawyers by calling 888-297-6023.


          *Are you more than 60 days past due on your mortgage?

          *Do you own a home?

          Are you currently working?

          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.

        • Means Test of Bankruptcy

          Means Test of Bankruptcy

          Before you want to file for bankruptcy, you may be required to take the means test. The means test can help you conclude the type of bankruptcy that you are eligible for – so in case that you pass this test, you can file for a Chapter 7 bankruptcy and if you do not clear this, you are still eligible to file Chapter 13 bankruptcy. The means test has to be calculated precisely so as to know which chapter to file the bankruptcy case against.

          Typically, there are two types of personal bankruptcies.

          1. Chapter 7– In this chapter of bankruptcy, most of the debtor’s assets are liquidated by a bankruptcy trustee so as to pay your debts. The remaining of the debts are mostly discharged. This type of bankruptcy is typically completed in several months
          2. Chapter 13– This type of bankruptcy filing lets you repay your creditor over several months and lets you keep most of the assets with you.

          Are you getting confused? Is the scenario of seeking the ‘best attorney near me’ a continuous search in your web browser? Then reach out to Recovery Law Group, the acclaimed law firm who assure the best attorney Los Angeles and Dallas regions.

          Before seeking help from our affirmed lawyers, you could have a valid question in mind. Should everyone take up the complete means test analysis? It is not mandatory to take up the means test analysis for Chapter 7 if you satisfy any of the below-mentioned conditions

          • You are a veteran, currently disabled and the debts that you currently owe have been accrued while you have been actively serving on defence duty
          • Your debts are entirely business debts
          • Your average household income is well below the median income of your state – California, Nevada or Texas

          Of the above three reasons for exemption from the means test, most of them find themselves complying with the low household income according to the standards set down in their living state.

          Understanding the Median Income based exemption

          Calculating the average household income is very simple. It is arrived by summing up all of the income that includes wages, rental income, unemployment benefits, business income and all retirement/ pension benefits. This summing is done for the past 6 months and the final value is divided by six to get the average income. For comparing this average income to the state’s median income, multiply the average income by 12. Depending on the state that you live income, compare the arrived value with the below figures

          MEDIAN FAMILY INCOME BY FAMILY SIZE

            Family Size                    California                       Nevada                         Texas

          1-person families           $49,983                         $43,685                         $42,908

          2-person families           $64,779                         $56,367                         $58,666

          3-person families           $68,917                         $59,346                         $61,502

          4-person families           $79,418                         $69,672                         $71,973

          For every additional person, you may add $8100 to the median income threshold. The figures shown here are liable to change and hence a bankruptcy attorney, Los Angeles or Dallas areas can provide the updated numbers. So if your household monthly income is lesser than the digits shared above for your household size, then you are exempted from the means test calculation – you can directly file for Chapter 7 bankruptcy.

          Means Test Application Procedure

          Let’s consider the case when the household income is greater compared to the state median income – then you need to complete the full means test calculation. The procedure involves deducting the allowed expenses from the average household income. These allowed expenses are not directly what you personally spend but needs to be adhering to the standards set by the Census Bureau and the IRS (the national and local standards).

          The remaining amount after the expenses are deducted becomes your disposable income and if your total disposable income value for the upcoming 60 months is less than $7700, then you meet the expectations of the means test for Chapter 7. If the disposable income value of the next 60 months is greater than the allowed expenses, then there are series of other calculations to determine your eligibility for bankruptcy.

          The right support

          Getting the apt skilled attorney to substantiate the Chapter 7 bankruptcy filing isn’t a cumbersome ordeal any more. Recovery Law Group possess the experts in this space and help with debtors on all of their queries related to means test for Chapter 7 bankruptcy filing.


            *Are you more than 60 days past due on your mortgage?

            *Do you own a home?

            Are you currently working?

            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.

          • Alternatives to Bankruptcy Filing

            Alternatives to Bankruptcy Filing

            Many see bankruptcy as the only solution to handle their crisis of debts. But an experienced bank attorney, Los Angeles (for those living in California) or an acclaimed law firm such as Recovery Law Group, who also operate in states of Nevada and Texas, will be able to easily access your condition and provide options to the debts problems of the consumers. Remember that paying off your debts in a regular way is the best way to clear off the dues. (more…)