Sawin & Shea

JANUARY 25, 2022

While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Sawin & Shea

OCTOBER 26, 2022

If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Common unsecured loans include: Bank loans with no collateral. In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Repossession deficiency claims.

Personal loans 98

Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Sawin & Shea

SEPTEMBER 14, 2022

Consumer debt refers to an individual, family, or household’s debts incurred through personal spending and expenses. If your debts have to do with personal or family spending rather than business expenses, penalties, and taxes, they are likely consumer debts.

Chapter 7 bankruptcy 122

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student Loans 122

Credit Corp

MAY 3, 2021

The bank repossesses the car, but you still owe $20,000 on it. If the car is worth $15,000, the bank can sell it and recover that much of the loan—leaving $5,000 of debt to be canceled. You file for bankruptcy with $60,000 in unsecured debts, which are all discharged. That debt is also considered canceled.

Repossession 94

Repossession Bankruptcy Creditors Unsecured Debt 94

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. Bankruptcy legal fees are an investment in finally resolving your debt for good. How Much Debt Is Enough?

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

FEBRUARY 28, 2024

If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Discharging Personal Loans Through Chapter 7 Whether you should discharge a personal loan in Chapter 7 will depend on whether the loan is secured or unsecured. Nonpayment of title loans can lead to vehicle repossession.

Personal loans 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Sawin & Shea

AUGUST 30, 2023

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. You are not allowed to have more than $465,275 of unsecured debt (such as credit card or medical debt) or more than $1,395,875 of secured debt (such as a house, property, or vehicle).

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52