Too much medical debt

Debts That You May Continue to Pay During Chapter 7 Bankruptcy

Chapter 7 is advocated as one of the best Chapters to release a good amount of debt with zero obligation after the bankruptcy process. However, this might not hold true under some scenarios. The filer might have to continue to pay out some of the debts during and after Chapter 7 bankruptcy. To assess if Chapter 7 could actually kill all your debts or not, it is best to analyze some of the debts, you may still be obliged for even after filing for Chapter 7 bankruptcy. For more information relating to bankruptcy and Chapter 7, log on [...]

2019-08-02T08:01:53+00:00

Can Credit Cards be Secured Loans?

Credit card loans always relate to unsecured loans by default. That’s what most of us are used to hearing. However, there can be circumstances when credit card loan can be a secured one too. The basic distinction between secured and unsecured loan is that there is a lien or an asset attached as collateral for the lender to capitalize in order to recover the debt. This holds good only if the debtor defaults or misses payments due consistently. To learn more about loans, bankruptcy, and other financial information, log on to Recovery Law Group, the encyclopedia to address [...]

2019-07-23T12:47:08+00:00

How Does Bankruptcy Affect Your Health?

People who are suffering from overwhelming debts often find bankruptcy as a way out. Bankruptcy is a legal way to reorganize your finances and get rid of debt so that you can get a fresh financial start. The two main types of consumer bankruptcy are Chapter 7 and Chapter 13. According to a new study, bankruptcy is supposed to not only give you a better financial start but is also good for your finances too! Consumer Bankruptcy Codes Elaborated As stated previously, Chapter 7 and Chapter 13 are the most common consumer bankruptcy codes, each having its own [...]

2019-06-28T12:38:42+00:00

What Impact Does Low Bankruptcy Filing in Los Angeles has?

Most of the people living in cities like Los Angeles and Dallas, TX face the dilemma of whether to file for bankruptcy or not. In the last decade, there were quite a large number of people who used to file up for bankruptcy to overcome their debt. However, this number has rapidly declined in the past few years to such an extent that it has reached to lowest of the past 10 years. According to the statistics shown by the United States Bankruptcy Court, the number of bankruptcy filings in Central district of California has dropped down to [...]

2019-06-27T11:49:47+00:00

Criminalizing Private Debts

There are criminal proceedings on defaulters on the debts that they owe to creditors. Let’s take a scenario where the debtor has fallen sick and has missed out on the payments that he/ she regularly makes. The notices about missed payments have just been ignored since the debtor is away on treatment. The piled up debt now invites court hearings – the intimations of these too have not been attended to and this eventually turns out to issuing of warrants for the arrest of the debtor for the failed payments. This is not a surreal scenario and can [...]

2019-06-27T09:52:07+00:00

Can tax debts be discharged during bankruptcy?

Accumulation of unpaid dues can lead to people being burdened by debts. Bankruptcy is an excellent way to get many debts discharged. However, being able to get all debts discharged is extremely tough, though not impossible. Unsecured debts are often discharged after bankruptcy however debts such as education loan, government taxes, and child and spousal support, etc. cannot be discharged during bankruptcy. However, Los Angeles bankruptcy lawyers Recovery Law Group say that even such debts can be discharged depending on the type of bankruptcy. For individuals filing chapter 13 bankruptcy, tax debts are paid off as per the [...]

2019-06-14T12:22:50+00:00

What Happens if You Miss the 45 Day Deadline for the Personal Financial Management Class Mandatory Necessary for Bankruptcy?

It is not that easy to get rid of your debts, even with bankruptcy. Not only a lot of paperwork is involved for filing the petition, but you are also required to take a financial management course and provide a certificate of completion in the court to get bankruptcy discharge before you can rebuild your financial situation. […]

2019-05-06T12:45:39+00:00

Should I Avoid Summons if I Plan to File for Bankruptcy?

Recurring debts and overspending, as well as some ill-fate, can cause financial problems in anyone’s lives. If you are facing issues regarding the shutdown of utilities or foreclosure, repossession, etc. or are at the receiving end of legal actions due to non-payment of dues and similar debts, then you might be in for some tough time. Creditors and debt collectors can resort to legal actions wherein they can file summons with the court so as to make a debtor answerable in the court, often with the intention to get a garnishment. […]

2019-05-06T12:46:36+00:00