Sawin & Shea

SEPTEMBER 6, 2023

People file for bankruptcy for any number of reasons, from job loss to unpaid medical bills to an unaffordable mortgage. If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021.

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Sawin & Shea

FEBRUARY 22, 2023

And although there are benefits to obtaining this type of mortgage, debtors often have to pay increased interest and monthly payments. These increased payments can put financial pressure on debtors, leading them to fall behind on their housing payments. Adjustable rate mortgages have been on the rise in recent years.

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Sawin & Shea

JANUARY 11, 2024

Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances.

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Credit Corp

MAY 3, 2023

If you decide to file for bankruptcy, you must next decide which type of bankruptcy is right for you. Bankruptcy can be complex, and even a small mistake in how you file can substantially change the outcome of your case. In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You?

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Sawin & Shea

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1]

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FFGN COLLECT NY

JUNE 12, 2022

Are you or your collection attorney attempting debt collection efforts even though the debtor filed for bankruptcy? Enforcing a claim and/or a judgment against an entity or individual who has an active bankruptcy pending or who has received an order discharging them from liability is more than a bad idea. The debtor did not pay.

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Debt Free Colorado

DECEMBER 9, 2021

Are you considering bankruptcy? Bankruptcy is a challenging, life-altering experience. . If you are considering consulting with an attorney about your debt-relief options, it is essential to remember that each type of bankruptcy comes with its advantages and disadvantages. . Advantages of Chapter 7 Bankruptcy.

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Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. You must qualify to file for bankruptcy, and your income must meet an income means test. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery?

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Fraser

JUNE 25, 2020

It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view.

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Burr Forman

AUGUST 19, 2021

David Houston IV – Nashville, Litigation and Bankruptcy. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Christopher Carson – Commercial Litigation, Litigation – Bankruptcy, Mass Tort Litigation / Class Actions – Defendants. Rion Foley – Charleston, Public Finance Law.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In Jennings v. 2] In April 2022, the creditor began the foreclosure process on its security deed against the debtor’s residence and set the foreclosure sale for June 7, 2022. [3]

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy.

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PBWT

SEPTEMBER 8, 2021

Debtors and trustees seeking to avoid the hardship of a foreclosure often attempt to employ sections 547 and 548 of the Bankruptcy Code. [1] 1] In accordance with the former section, a debtor may avoid any transfer of an interest in property “on or within 90 days before the date of the filing of the petition.”

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Roths Child Law

APRIL 10, 2023

Fortunately, personal bankruptcy can help get a fresh start by either discharging or restructuring your debts. bankruptcy laws, however, is to help individuals acquire better money management skills. State Department of Justice before kick-starting the bankruptcy process. One of the goals of the U.S.

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Sawin & Shea

AUGUST 24, 2020

If you’re dealing with debt and considering filing for bankruptcy, it’s a good idea to get professional legal advice on how to handle the proceedings. Should I File for Bankruptcy? If you are deciding whether or not to file for bankruptcy, there are a lot of conditions to consider. What Do the Various Kinds of Bankruptcy Entail?

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Debt Free Colorado

MARCH 10, 2023

Learn about the Five Bankruptcy Myths in Littleton, Colorado Due to worries stoked by myths and misconceptions about bankruptcy, many people choose not to obtain debt relief. Truth be told, declaring bankruptcy may be one of the best decisions you’ve ever made for your present, future, and family.

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Mich Bankruptcy Blog

OCTOBER 26, 2021

.” That legal maxim guided the Sixth Circuit’s reasoning in a recent decision [1] in a case involving a Chapter 13 debtor’s repeated filings and requests for dismissal of his bankruptcy cases in order to avoid foreclosure of his home. Read More › Tags: 6th Circuit Court of Appeals , Chapter 13.

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Jimerson Firm

FEBRUARY 10, 2022

Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. 684, 689 (Bankr.W.D.Pa.2009) Old Nat’l Bank Corp.,

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy. Bankruptcy dismissals have nothing to do with unloading debts.

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Roths Child Law

APRIL 4, 2023

Bankruptcy Code reserves certain opportunities for those who are least likely to be able to repay their debts any time soon. Unlike Chapter 13 bankruptcy, which is available to most Americans, Chapter 7 bankruptcy is only available to low-income filers. Under those circumstances, Chapter 13 bankruptcy is usually preferable.

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Sawin & Shea

MAY 2, 2024

If you’re struggling with overwhelming debt, you may be wondering if bankruptcy is the right solution for your financial situation. One of the most common questions people have is “How Much Debt is Needed to File for Bankruptcy?” However, that doesn’t mean bankruptcy is the best option for everyone with debt.

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Sawin & Shea

AUGUST 2, 2023

The good news – the light at the end of the tunnel – is that there is an excellent way to ease these fiscal-related woes: filing for bankruptcy. What is the Best Time to File for Bankruptcy? Many people ask, when should you file for bankruptcy? There are many reasons someone might file for bankruptcy.

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Sawin & Shea

MARCH 20, 2024

You may be wondering whether you should opt for a tax attorney or a bankruptcy attorney. If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. You deserve a fresh start.

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Fraser

SEPTEMBER 28, 2020

When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. If you’re owed money by a bankrupt debtor, you likely have to file a claim. The bankruptcy court will establish a deadline, or “bar date,” by which claims must be filed.

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Sawin & Shea

DECEMBER 22, 2021

If you are struggling financially and feel bankruptcy is the only option for removing holiday stress, you need to make sure you file at the right moment. Choosing the wrong time to file for bankruptcy can tremendously impact your case in a negative way, including the possibility of dismissal.

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Sawin & Shea

DECEMBER 21, 2023

When an individual or business files for bankruptcy, an automatic stay immediately goes into effect. For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. An automatic stay refers to the legal injunction put into place upon filing for bankruptcy.

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Consumer Financial Services Law

AUGUST 27, 2019

Enloe A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and circumstances surrounding the communications. By Caren D. 21st Mortg. 427 (2019).

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Debt Free Colorado

DECEMBER 23, 2024

Creating a Life Free From the Burden of Unpaid Debt Bankruptcy can be a way out for many people struggling with debt. Understanding what debts bankruptcy can eliminate is important. In this article, we will explore the types of unsecured debts that bankruptcy can erase. Some debts stay with you even after bankruptcy.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Under section 362 of title 11 of the United States Code (the “Bankruptcy Code”), the filing of a bankruptcy petition results in an automatic stay that generally enjoins any creditor from taking any action against a debtor or its property. [1]

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Roths Child Law

JUNE 17, 2021

Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances. Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. How else to tell when you need to file bankruptcy. Retirement benefits.

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Debt Free Colorado

DECEMBER 7, 2016

Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. 13 bankruptcy. 13 bankruptcy.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case.

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