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What to do if Mortgage Lender Refuses to Send Monthly Statements Post-Bankruptcy?

Bankruptcy is a trying time for people who are debt-ridden. Even after getting a discharge through bankruptcy, the secured debts and priority debts remain. If a debtor who has a mortgage on their house but didn’t reaffirm the loan during bankruptcy continues making monthly payments towards the loan but does not receive monthly mortgage statements from the lender, can be in trouble. Since sending periodic statements can be construed as a violation of the automatic stay provision of bankruptcy, there exists a debate over it. The automatic stay prevents creditors to take any collection action and these statements [...]

2019-08-06T11:20:51+00:00

What is No-Asset Chapter 7 Bankruptcy?

While the Chapter 7 is known as the bankruptcy code which sets off debt from the liquidation of assets, it can be surprising to learn about No-Asset Chapter 7 bankruptcy. It could be even more surprising to note that most of the Chapter 7 bankruptcy California cases are No-Asset cases. The no-asset case is a scenario where, the filer does not give in any asset or cash to the bankruptcy trustee for liquidation. The filer instead keeps possession of all the assets, he/she owns. The lenders or creditors will not expect any proceeds or debt settlement, as there [...]

2019-08-06T11:20:29+00:00

Under what circumstances is Chapter 7 bankruptcy better than Chapter 13?

Chapter 7 is not often recommended by experts as people tend to lose their valuable assets with this type of bankruptcy. However, there are many situations when Chapter 7 can be beneficial than Chapter 13. These benefits can be interpreted as reasons for opting for Chapter 7 over Chapter 13. To learn more about bankruptcy, Chapter 7, Chapter 13 and other Chapters log on to https://bankruptcy.recoverylawgroup.com/. List of some benefits of Chapter 7 Less time-consuming- The process of applying for bankruptcy under Chapter 7 and receiving a court judgment is relatively quick. An average case could take 3-6 [...]

2019-08-06T11:20:41+00:00

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.recoverylawgroup.com/, suggest an alternative. You can opt for an emergency bankruptcy filing, also known as skeleton [...]

2019-08-06T11:20:05+00:00

What Happens to Student Loan Debt in Bankruptcy?

Student debt is one of the debts which does not get discharged during bankruptcy; neither in Chapter 7 nor in Chapter 13 unless you can prove that repaying them can cause undue hardship to you. According to Dallas based bankruptcy law firm https://bankruptcy.recoverylawgroup.com/, different tests are used by different courts to determine undue hardship. In the undue hardship test, most courts offer you to get either the entire loan discharged or nothing at all; while some courts might allow you a partial discharge of student loan. To get this loan discharged during bankruptcy, either you should have very [...]

2019-08-06T11:19:53+00:00

Under What Circumstances Can Debt Discharge be a Problem with Chapter 7 bankruptcy

Debt discharge or release can be regarded as one of the major benefits of chapter 7 bankruptcy San Antonio. However, it can be so that the debt discharge might be limited, or one might not get any discharge. Why does this happen, how to avoid this? All these questions will be addressed below. Meanwhile, address all other worries or questions about bankruptcy and their chapters on https://bankruptcy.recoverylawgroup.com/. Legal reasons for not qualifying for a discharge The two common legal barriers for not qualifying for a debt release can be listed as follows- Error in procedure The bankruptcy court [...]

2019-08-06T11:19:46+00:00

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.recoverylawgroup.com/. Home mortgage and [...]

2019-08-06T11:19:37+00:00

Relief from Credit Card debt through Chapter 7 Bankruptcy

Chapter 7 Bankruptcy law in the USA offers people to declare bankruptcy to elicit relief from the debts. The debtor seeks this law when he/she is unable to clear the debts. People may file for bankruptcy when they have little or no assets to clear the debt. The creditor must be content with little or no payment. To know more about bankruptcy and its implication on the debtor and creditor, log on to https://bankruptcy.recoverylawgroup.com/. How can Chapter 7 help to clear credit card debt? A client can file a case under chapter 7 when he is unable to [...]

2019-08-06T11:19:29+00:00

The Means Test For Chapter 7 Bankruptcy Eligibility

Bankruptcy has different Chapters which can have certain benefits or disadvantages depending on the specific financial condition of an individual. The first step before deciding on filing for bankruptcy is to analyze the eligibility aspects. An individual can qualify for one or more Chapters simultaneously or there could be some adjustments made based on the suggestions of reliable attorney to qualify for beneficial bankruptcy code. Recovery Law Group can not only help you find an excellent attorney but can also guide you through with some basics of bankruptcy and its Chapters. Chapter 7 ideology Chapter 7 is based [...]

2019-08-02T08:00:47+00:00

How to Determine if Chapter 7 is Suitable For You or Not?

If you are confused about whether Chapter 7 is appropriate for you or not, the solution can be found right here. By finding answers to the following questions, you can determine if Chapter 7 is the right choice for you or not. To know more about other benefits and alternatives to Chapter 7 log on to Recovery Law Group. Are you ‘Judgement proof’? This is the first question that will determine the threat of your lenders or creditors. ‘Judgement proof’ is the term used to determine the degree of impact a Chapter 7 judgment could make on your [...]

2019-08-02T08:00:58+00:00
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