filing bankruptcy California

Mortgage Foreclosure in California

It takes significant effort and hard work to be able to afford a home mortgage in California. The news across Roseville which is about loan foreclosing is very saddening. The thought of losing home can be worrying for anyone. Residents despite several efforts are not being able to safeguard their home due to mortgage foreclosure in Roseville, California. To know more about mortgage, secured/unsecured loans and other important financial aspects, log on to Recovery Law Group for complete a to z knowledge. Types of home mortgage and lien Even millionaires and billionaires have a mortgage for their homes [...]

2023-07-03T07:17:37+00:00
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Difference Between Chapter 7 and Chapter 13 Bankruptcy

Individuals can file for bankruptcy under chapter 7 or chapter 13. There are differences in the way these two chapters function. Bankruptcy attorneys of Dallas based law firm Recovery Law Group, highlight some of the common differences between the two chapters. This is essential for people to know which chapter would work best in their situation. Chapter 7 Bankruptcy This is also known as liquidation bankruptcy and is used to wipe out unsecured debts like credit card and medical bills. People whose income is less than the state median can file under this chapter. Filing for bankruptcy ensures [...]

2023-01-19T05:34:03+00:00
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Know More about California Bankruptcy Exemptions

Bankruptcy filers can make use of federal and state exemptions to protect their assets. However, choosing between them is confusing. Some states like California do not allow citizens to choose federal exemption but offer two different sets of exemptions to protect your property during bankruptcy, say Lawyers of Los Angeles based bankruptcy law firm Recovery Law Group. To know more about California’s bankruptcy exemptions, call 888-297-6023. Bankruptcy exemptions in California Amongst the two sets of exemptions provided by the state of California, System 1 is preferred by debtors with substantial home equity, while System 2 is preferred by [...]

2019-07-23T12:46:42+00:00
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How to protect important assets during bankruptcy?

Bankruptcy is an unfortunate financial condition and safeguarding or holding on to some near and dear assets can be a very difficult task. Chapter 7 bankruptcy code especially is not very suitable for people who want to hold on to their assets. However, with the help of exemptions, certain ordinary and modest assets can be protected and prevented from the liquidation process. These may include clothing, home, car, household stuff, tools used in the business/profession, etc. To learn more about bankruptcy codes, log on to Recovery Law Group now. The exemptions can help in protecting the assets which you [...]

2019-07-23T12:40:09+00:00
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Bankruptcy and Assistance of Attorneys

Debt is never a great idea but sometimes, it becomes inevitable. When the interest mounts up with debt, there looks to be no way forward. If we consume more debt than we can repay, it becomes a crushing situation. U.S Bankruptcy code is certainly the last hope that can save your boat from drowning. This code has been set up to protect honest and hardworking people from a vicious cycle of debt. The code sets free businesses or individuals by releasing the debt/liability after educating them and by following a legal process of settling as much debt as [...]

2023-03-31T08:58:05+00:00
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Which Property is Exempted in Chapter 7 Bankruptcy under California’s Bankruptcy Laws?

While filing for bankruptcy is one of the ways to get ahead of the huge number of dues you have, people are often confused regarding what property they can keep. Since, effectively, bankruptcy is a method to allow people struggling with debt a chance to get a fresh financial start, federal and state exemptions are available in order to protect a bankruptcy filer’s property. while most states allow people to choose between federal and state bankruptcy exemptions, Los Angeles based bankruptcy law firm Recovery Law Group inform that California does not do so. Any person who has lived in [...]

2019-07-16T12:24:16+00:00
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What Happens to Personal Injury Award in Case of Bankruptcy?

An injury sustained due to negligence or accident can cause immense trouble for people. They are often struggling financially due to overwhelming medical debts and are often accompanied by long durations of being out of work and in severe pain. Many of such people, with the help of excellent personal injury attorneys, sue the negligent party for a personal injury award. However, if the same person is struggling financially and is contemplating filing for bankruptcy, one of the major concerns they have is; what happens to their personal injury award in such a situation? Do they get to [...]

2021-12-07T08:33:18+00:00
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Bankruptcy Law For Fisherman and Farmers

Famers and fisherman hold an important place in the economy of the USA, still, there was no permanent law for them to declare bankruptcy. Of late, Chapter 12 is introduced for family farmers and family fisherman, who may want to seek bankruptcy law. To know about other Chapters and bankruptcy in the whole log on to Recovery Law Group. A brief history of Chapter 12 Chapter 12 was introduced by Congress to help farmers and fisherman who were struggling with debts during the emergency in 1986. However, it was a temporary structure that became permanent only in 2005. [...]

2019-07-18T10:35:01+00:00
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Bankruptcy Basics of Chapter 7

Bankruptcy is designed as a means to give a debt-free fresh start to honest individuals who have fallen on bad times. Post-bankruptcy, debtors cannot be held liable for discharged debts. Consumers can file for bankruptcy under chapter 7 where all your non-exempt property is liquidated, and the proceeds are distributed among creditors as per Bankruptcy Code. Part of the property may be subject to mortgages and liens, while any unsecured debts (credit card bills, medical bills, etc.) which remain after the process are discharged. Though it sounds too good, there are other options available. According to Los Angeles, [...]

2023-04-11T08:49:07+00:00
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Bankruptcy and Median Income Calculation

Bankruptcy is not a very exciting position to be but there are a lot of choices, questions, problems that have to be addressed almost instantaneously. The first is to identify which Chapter are you looking to file your bankruptcy in. Either Chapter 7 or Chapter 13. Then you have to figure out if you are eligible for Chapter 13 or Chapter 7. If you are eligible, you have to understand the implications of the same and approach the bankruptcy court. Tests, Chapters and eligibility There are eligibility factors for each Chapter, and one cannot simply select the Chapter [...]

2021-12-07T08:58:08+00:00
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We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.