Tips to Avoid Filing for a Second Bankruptcy

Filing for bankruptcy, though tough, is a smart decision to overcome your financial problems. However, as lawyers of Sacramento based law firm Recovery Law Group inform, debtor’s need to make these changes in their habits to avoid filing for bankruptcy again: […]


When Should You File for Bankruptcy?

Financial losses are common to everyone. Going through financially tough times can lead to drastic consequences. Federal government understands that without timely intervention and help in the form of bankruptcy, many people will continue spiraling down the financial mess. However, you have to decide what the last straw before filing for bankruptcy is. It is important to understand that with insurmountable debt, you will require more time to come out of the situation. The U.S. Bankruptcy Code was created to help those people who made an honest mistake and due to unfortunate circumstances have amassed a debt which [...]


Smaller Airline Industry Created after Bankruptcy and Job Losses

In the past 10 years, the U.S. airline industry has lost a huge amount of revenues, to the tune of tens of billions of dollars and more than 170,000 jobs. All of this can be attributed to lost revenue and bankruptcy filings. The result of this has been downsizing of the industry significantly. Most major airline carriers have seen this doomsday scenario. According to Los Angeles based law firm Recovery Law Group, there are numerous examples of the same. The United Airlines underwent bankruptcy through chapter 11 in 2002-2006 had been reduced to half its size than it [...]


Should You File For Bankruptcy Just After Losing Your Job?

People who have seen a significant change in their income due to a sudden surge in expenses or dip in earnings due to loss of job, often wonder if they should consider bankruptcy as a way out of the financial mess they are in. since conditions do not allow them to make payments against any obligations they have, this is a thought worth your penny. Though you might find it compelling to file for bankruptcy just after losing your job, it’s important that you deeply analyze your situation and come up with the best possible solution to your [...]


Review Your Credit Report before Choosing To File For Bankruptcy

Reviewing your credit report annually is extremely important so that you are aware of your current financial situation as well as checking if the information about your payments and debts is being accurately portrayed to the credit bureaus. People looking for a way out of the financial mess by filing for bankruptcy should make it a point to review their credit report before filing to ensure that all their creditors are included in the documents and schedules. As a part of the filing process, you are expected to list all your creditors. A simple mistake of omitting any [...]


Rebuilding Credit is Easy with These Steps

Though traumatic, filing for bankruptcy is an essential decision taken by people to get rid of dues which they don’t have means to pay off. Bankruptcy is of great assistance to people who have had continuous bad luck, which resulted in financial losses. Once the bankruptcy proceedings are over, bankruptcy filers get a fresh start with a clean financial slate. With some easy to follow steps, they can rebuild their credit score to live life comfortably. Here are some tips by lawyers of Los Angeles based law firm Recovery Law Group to help rebuild your credit: […]


Prevent Wage Garnishment through Bankruptcy

More often than not, people who are under debt are harassed by creditors for their dues. Some of the creditors might resort to garnish wages to clear the debts. However, Los Angeles based law firm Recovery Law Group informs that Texas and some other states do not look at this practice favorably and may not allow creditors to go ahead with it, except in case of special circumstances like federal taxes, spousal/child support or student loans. […]


Creditors Can Be Held in Contempt for Violating Discharge Ordered by Bankruptcy Court

The bankruptcy laws have been enacted to make life easier for people who are undergoing tremendous financial losses. However, despite filing for bankruptcy and getting a discharge, many times, creditors still harass debt filers for dues. Citing the bankruptcy case of Jarvar, Stanley E. and Barbara J.; In re (Jarvarv. Title Cash of Montana Inc., et. al.), the Los Angeles based law firm Recovery Law Group respite is available to debtors from creditors who violate bankruptcy discharge. Such creditors can be held in civil contempt. How Jarvar v. Title Cash of Montana Inc., et. al. Bankruptcy Case Changed [...]


Is There a Difference Between Bankruptcy & Debt Settlement?

A stroke of misfortune or sheer bad luck with monetary investments may result in severe financial problems for people. If you too are struggling through insoluble debts, you are faced with 2 choices as per Sacramento based law firm Recovery Law Group - filing for bankruptcy or opting for debt settlement. However, to become financially stable again, you need to choose between the 2 options available to you. Though many people are aware of bankruptcy, not much is known about debt settlement. It is important for debtors to understand the difference between the two, for them to choose [...]


How to Decide the Bankruptcy Filing Chapter?

Bankruptcy is a common occurrence with many people in America turning to it to save themselves from overwhelming debts. Despite unique financial situations, many individuals, couples or even businesses are looking for options to file for bankruptcy. However, since situations are different for each of them, they need to choose the best-suited Chapter of the U.S. Bankruptcy Code under which they can file for bankruptcy. […]

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