Troutman Sanders

FEBRUARY 16, 2024

In In re McCrorey , the debtors confirmed a chapter 13 plan, which required them to make payments for 60 months and provided no payments to unsecured creditors. Apparently, three years prior to the bankruptcy filing, the debtors had a vehicle repossessed by the bank.

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Debt Free Colorado

APRIL 9, 2020

They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. Your Mortgage.

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Sawin & Shea

APRIL 24, 2024

If the payments were made to an insider creditor, the preference period changes from 90 days to within one year of filing. Secured vs. Unsecured Creditor A secured creditor has a lien of some kind on a debtor’s property. Unsecured creditors lend money without any collateral. Family members.

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Sawin & Shea

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. With secured debts, your creditors have the right to seize the collateral property if you default on payments.

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Sawin & Shea

APRIL 10, 2024

If you are not, this test determines how much you are required to pay back to your unsecured creditors in a Chapter 13 reorganization. Instead, they’ll merely sell non-exempt property and assets to pay off a portion of debts to unsecured creditors. Indiana’s median income changes from year to year.

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Debt RR

DECEMBER 13, 2019

Banks can seize business assets and liquidate as a last resort to cut their losses. Missing payments on secured debt causes the creditor to repossess the property as recourse. Some creditors issue bonds, which demand principal and interest payments. Secured Creditors. Unsecured Creditors. Noteholders.

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Chapter 7 bankruptcy Bankruptcy Creditors Retail 42

Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable.

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