Recovery Law Group

Bankruptcy can provide you with much-needed relief in times of financial distress by either eliminating your debts, or providing you with a restructured plan for debt repayment. Though you will get rid of your debt but not without some serious consequences, it may remain on your credit report for 7 to 10 years, and a co-signer may be responsible for paying at least some of the debt. Moreover, not all of your debt can be eliminated, and you may not necessarily get a clean slate.     However, if your debts have become overwhelming, and you are unable to repay them under your current circumstances with your best efforts, you may consider filing for bankruptcy. Most individual bankruptcies in the US are filed either under Chapter 7 or Chapter 13 of the US Bankruptcy Code. Under Chapter bankruptcy, a trustee will be appointed by the federal court to liquidate your nonexempt assets to pay creditors. There are priority rules for paying the debts. The applicant filing for affordab...

Healthcare costs are a nightmare for millions in the United States, with people struggling to afford medical bills in case of sudden illness or injury. Many people have health insurance to help cover these costs, still they often end up with astronomical charges due to high deductibles, out-of-network charges, or certain procedures that are not covered by insurance. Thus, medical debt defense lawyers become indispensable in helping people overcome the challenges connected with medical debts.   The Compounding Dilemma of Doctor Bills   The medical bills may relate to emergency room visits, surgeries, chronic illness treatments, diagnostic tests, specialist consultations, and prescription medications. There are added challenges, such as aggressive approaches when collecting outstanding dues. Medical care centers and healthcare facilities may transfer unpaid invoices to collection agencies, who may employ aggression to obtain the amount owed. This can include daily calls, th...

Chapter 7 bankruptcy focuses on liquidating your non-exempt assets, and your many types of unsecured debts are eliminated. You may be suggested to file for Chapter 7 bankruptcy by your lawyer based on certain signs, like your unsecured debts are more than half of your annual income, or it would take you five years or more to pay your debts even if you took extreme measures. Bankruptcy will set you financially free as debts get discharged, and you also get peace of mind. When the stress and anguish go away, you will be in a condition to make better decisions, and handle your financial life in a better way.         When the process is complete, a vast majority of debts will be eliminated, and you will have a cleaner slate to start afresh. To qualify for Chapter 7 bankruptcy Las Vegas in Nevada, you will have to pass a Means Test, that aims to prevent low earners from getting the benefits of Chapter 7 bankruptcy protection. To qualify for the test, your averag...