Affordable bankruptcy in Sacramento to help you rebuild your finances

When debts are so high that it’s impossible to pay them off within a reasonable timeframe, affordable bankruptcy can provide much-needed relief to individuals in financial distress. If you are dealing with multiple secured and unsecured debts, priority debts, or other debts due to natural disasters, business failure, or job loss, filing for affordable bankruptcy Sacramento in California through specialist law firms, like Recovery Law Group, can help protect your home and some exempt assets, and also save you from the creditors’ collection activities. Affordable bankruptcy provides low-cost legal assistance to individuals in financial distress, and for whom bankruptcy is the only option left to get rid of their debts and creditors’ harassments.  

  

Many individuals hesitate to file for bankruptcy due to the perceived costs of hiring an attorney. However, Recovery Law Group provides affordable bankruptcy Sacramento to deserving individuals at reduced rates, or on a sliding scale based on income. This includes free initial consultation, allowing you to explore various options, including Chapter 7 and Chapter 13 bankruptcies for individual debtors, and Chapter 11 bankruptcy for businesses, under the US Bankruptcy Code.   

  

Chapter 7 bankruptcy is an option for individuals for whom discharging their debt obligations has become impossible with their current means of earning. Affordable bankruptcy Sacramento under Chapter 7 will eliminate most of your debts, including:  

  

·         Medical bills  

·         Utility bills  

·         Secured loans, like mortgages or car loans  

·         Personal and payday loans, and   

·         Civil court judgments  

  

However, certain obligations, such as child support, alimony, student loans, and tax liens cannot be discharged under Chapter 7. Additionally, in order to successfully file for affordable bankruptcy in Sacramento under Chapter 7, you need to pass the Means Test. This test is performed to ensure that only deserving individuals are able to benefit from the provisions of Chapter 7 bankruptcy. To pass the Means Test, your average monthly income for the past six months should be less than the median income of the size of your family in the state of California.   

  

Chapter 13 bankruptcy for those with a regular income   

Another option for affordable bankruptcy Sacramento is Chapter 13. Under this bankruptcy option, you will be given a time period of three to five years to discharge your outstanding debts. For this, the federal bankruptcy court will appoint a trustee, who will work out a repayment plan wherein you will be allowed to repay your outstanding debt over three to five years through affordable monthly installments. The payment amount is based on your disposable income (income minus allowable expenses) and the type of debts you owe. In case your financial situation changes significantly during the repayment plan, such as job loss, you will be allowed to modify the repayment plan under the court’s approval.   

  

To qualify for affordable bankruptcy Sacramento under Chapter 13, your unsecured debts should be less than $465,275, and secured debts should be less than $1,395,875. Moreover, you will have to complete a credit counseling course from an approved agency within 180 days before filing. After completion of the repayment plan, any remaining eligible unsecured debts (like credit card debt or medical bills) may be discharged, which means you will not be legally obliged to repay them.  

 

 

 

 

Medical bills attorney to save you from paying bills that you do not owe

Discrepancies in medical bills are common and can cause patients' significant financial distress. Errors can occur due to many reasons, like coding mistakes, duplicate charges, and insurance processing errors. These issues can result in unexpectedly high medical bills or denied insurance claims, leaving patients confused who are already struggling with their ailments. An incorrect billing code can lead to billing for a different procedure or service, often at a higher cost. Unbundling error occurs when services that should be billed together are split up to increase the total charge, while out-of-network charges can result in substantial surprise bills due to higher rates and lower coverage by the health insurance provider.    

   

If you notice issues with your medical bills, or there are unexpected charges that you cannot resolve on your own, then professional help from a medical bills attorney can help you resolve the issues, and protect your financial health by ensuring that you only pay for the services that you truly received. This is because medical billing involves a complex system of codes, regulations, and practices that can be challenging for an average person to comprehend. Specialist medical bills attorneys at Recovery Law Group can review your medical bills in detail, identify issues and discrepancies, and ensure that you are not being overcharged for services. The attorney can also communicate with your insurance provider on your behalf, argue for coverage, and appeal denials.    

   

Recovery Law Group’s medical bills attorney can help you with the following:   

   

·                     Analyzing itemized bills to identify billing errors, pinpointing discrepancies, and working to reduce the total amount owed.    

·                     Assisting you with filing claims, appealing denied claims, and negotiating with insurance providers.    

·                     Working to reach settlements with healthcare providers and debt collectors, and establishing manageable payment plans.    

·                     Presenting evidence and arguments to challenge unjust medical billing practices, and mitigating the financial stress for patients.    

·                     Informing patients about their rights under federal and state laws, such as the Fair Debt Collection Practices Act (FDCPA).   

·                     Offering financial planning services to help patients manage their medical expenses more effectively.  Working with healthcare providers to gather necessary documentation and evidence to support the claim.    

   

Appealing denied claims    

Recovery Law Group’s experienced medical bill attorneys have in-depth knowledge of medical billing procedures, codes, and regulations. They are familiar with the nuances of the healthcare system, and have expertise to effectively challenge discrepancies and advocate for fair charges. The attorney can streamline the claims process with the insurance company on your behalf, ensure that the claims are filed correctly, and follow up on outstanding claims. The medical bills attorneys understand the tactics used by collection agencies, and can negotiate more favorable payment terms, or lower amounts owed.    

   

Whether dealing with a lawsuit or facing aggressive collection efforts, advocacy by the medical bills attorney can be crucial for you. They can prepare a strong case to protect your financial well-being, and also assist you with financial planning. The comprehensive approach by Recovery Law Group’s experienced medical bills attorneys empowers patients to manage their healthcare costs, and thus save them from falling further into debt. The attorney can provide you with valuable assistance that can lead to significant financial relief and peace of mind.     

  

  

 

Wondering how to keep my retirement in bankruptcy, here is how to do it

Bankruptcy has a certain stigma attached to it, but there could be many compelling reasons to consider this. One of the key advantages of filing for bankruptcy is that it will let you achieve relief from unmanageable debt by either eliminating or restructuring the debt, thus making it easier to handle. Not everything is liquidated or sold in bankruptcy, there are certain assets that cannot be liquidated under Chapter 7 and Chapter 13 bankruptcies, such as a home and a vehicle of certain equity, tools, of trade, household goods, clothing, and retirement accounts.    

   

If you are wondering whether I will be able to keep my retirement in bankruptcy, then the answer is yes. Most pension plans, and retirement accounts such as 401(K)(s), and 404(B)(s), are protected from creditors during bankruptcy. This is done to ensure that the debtor’s long-term is not jeopardized under bankruptcy. The provisions of the US Bankruptcy Code allow an individual to keep my retirement in bankruptcy, and ensure that the individual can preserve funds set aside for their future, even if they are struggling with other financial obligations.    

   

Retirement accounts are exempt in bankruptcy    

Under federal laws, 401(K)(s) and 404(B)(s) accounts, and IRAs are often exempt from being included in the bankruptcy estate, and hence are protected. While 401(K)(s) and 404(B)(s) enjoy unlimited protection, IRAs usually have protection limits of approximately $1.5 million. If you are looking for ways how to keep my retirement in bankruptcy, you can consult the specialist bankruptcy lawyers at Recovery Law Group, who can help you with your state’s specific exemptions, as state exemptions laws vary from that of the federal laws. Some states may even offer broader protections to keep my retirement in bankruptcy. Recovery Law Group’s specialist bankruptcy lawyers are familiar with these exemption laws, and understand how these laws will apply to your situation.    

   

Navigating the complexities of bankruptcy    

However, in order to keep my retirement in bankruptcy, it’s crucial to maintain clear records of your retirement accounts, and ensure that they are separate from any other accounts that you may have. Mixing retirement funds with non-retirement assets can complicate the bankruptcy process. Your specialist bankruptcy attorney can help you navigate the complexities of the US Bankruptcy Code and bankruptcy laws, and ensure that you understand your rights in bankruptcy, and advise you on the best strategies to preserve your retirement savings. You can seek bankruptcy protection and explore options to keep my retirement in bankruptcy under Chapter 7 bankruptcy, provided you seek the Means Test.    

   

Debt reorganization plan by the court trustee    

To qualify for the test, your average monthly income for the past six months should be less than the average monthly income of the size of your family in your state. If you qualify for the test, you will be allowed to file for Chapter 7 bankruptcy, and most of your unsecured debts will be discharged or eliminated. Else, you can file for Chapter 13 bankruptcy, wherein a repayment plan will be worked out under the supervision of a federal court-appointed trustee wherein you will be allowed to repay your outstanding debts over a period of three to five years. Any outstanding debt after the completion of the bankruptcy will be discharged.   

   

Both Chapter 7 and Chapter 13 bankruptcies will give you the protection of Automatic Stay, wherein your creditors are prohibited from contacting you for debt recovery when you are able to successfully file for bankruptcy. If they continue to do so, simply inform your Recovery Law Group’s attorney, and they will sue your creditors for violating the Automatic Stay.