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Tag: chapter 7 bankruptcy Los Angeles

  • How to Recover your Finances After Bankruptcy?

    How to Recover your Finances After Bankruptcy?

    Bankruptcy is a hard chapter in an individual’s life, however, a very long road lies ahead after your case wraps up. Any and all financial decisions you make after the bankruptcy case is over are going to be equally important. For regaining control of your finance, it is important that you consult expert bankruptcy attorneys such as those available at Los Angeles based law firm Recovery Law Group.

    Tips to Rebuild Credit after Bankruptcy Case

    The most important point to take care of, once you are through with your bankruptcy case is to clear your financial dues and start fresh. It is easy to start a fresh credit score by using the following tips: (more…)

  • Know More About Chapter 7 Bankruptcy Exemptions

    Know More About Chapter 7 Bankruptcy Exemptions

    Bad financial decisions may lead to economic problems. Filing for bankruptcy under Chapter 7 may provide you relief from your debt collectors. However, in the process you might end up losing some of your property. However, all is not lost as people who file for bankruptcy under chapter 7 are allowed to keep certain full exempt property. Exempt property is protected from creditor’s claims by the law. Some states like Colorado allow property to be exempt only under state law. Exempted property includes a portion of or the entire unpaid wages, household furniture, personal effects and home equity.
    In case you have incurred medical or credit card bills or taken personal loans which you find yourself unable to repay, there is no need to worry. You can file for chapter 7 or “liquidation bankruptcy”, which is one of the simplest and quickest way to take care of such issues as per Los Angeles based law firm Recovery Law Group.
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  • Know More About Chapter 13 Bankruptcy Exemptions

    Know More About Chapter 13 Bankruptcy Exemptions

    Bad financial decisions can cause a change of fate. This can happen to anyone, anytime. Filing for bankruptcy offers a way to salvage not just your property but also allows you to get a fresh start. Bankruptcy can be filed by an individual or company under various chapters. Chapter 13 or wage earner’s bankruptcy is for people with a steady source of income. Like other chapters, exemptions are available under chapter 13 reimbursement proposal. They are also helpful in calculating the amount that the debtor will pay. Under chapter 13 bankruptcy, one can keep all their property, but they are required to pay their creditors the value of all things not covered under exemption within a 3-5 years frame. (more…)