Credit Corp

MAY 3, 2023

However, we’ve provided some basic answers below to the question, “What is the difference between Chapter 7, 11, and 13 when it comes to bankruptcy?” In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy?

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. What Do the Various Kinds of Bankruptcy Entail? There are many intricacies that set Chapter 7 and Chapter 13 Bankruptcy apart. What does each one mean?

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Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Filing Successive Chapter 7 Bankruptcy Cases. Filing Chapter 13 After a Chapter 7 Bankruptcy.

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Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Filing Successive Chapter 7 Bankruptcy Cases. Filing Chapter 13 After a Chapter 7 Bankruptcy.

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Sawin & Shea

JULY 19, 2023

Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt. Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors. Chapter 7 bankruptcy also stops lawsuits and wage garnishments.

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Sawin & Shea

SEPTEMBER 28, 2022

For example, if you have been having your wages garnished to pay back a persistent creditor, your employer would be aware that this is no longer necessary since you are in the process of Chapter 7 or Chapter 13 bankruptcy. Will my bankruptcy show up on a pre-employment check?

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Sawin & Shea

FEBRUARY 16, 2022

Those filing an emergency bankruptcy receive an automatic stay even before completing certain documents. If you’re in an emergency situation such as wage garnishment, eviction, or pending repossession filing an emergency bankruptcy may be right for you. Unsure of Whether to File for an Emergency Bankruptcy?

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Sawin & Shea

APRIL 26, 2023

If the creditor has your date of birth and social security number, they may be able to garnish your bank account and apply that money toward your debt balance. If that’s not possible for you, another option is to avoid it through Chapter 7 or Chapter 13 bankruptcy court.

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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. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

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Sawin & Shea

MAY 10, 2023

Defining the Most Common Types of Bankruptcy Before diving into bankruptcy’s implications for your nest egg, here is an explanation of the two most common types of bankruptcy. Chapter 7 bankruptcy or liquidation bankruptcy, allows you to discharge all or most of your debt.

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Sawin & Shea

MAY 26, 2021

This means a foreclosure, repossession, garnishment, or other action can continue against your spouse even after you’re freed of it through bankruptcy – but only if their name is on the debt. This is certainly something to consider before filing bankruptcy without your spouse.

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Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. Dividing assets and property during a divorce can be difficult and may require the assistance of a mediator or attorney.

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Sawin & Shea

DECEMBER 8, 2021

Certain debts can be discharged entirely when filing Chapter 7 bankruptcy, but not everyone is eligible for Chapter 7 bankruptcy. Some people have too high of an income or have assets that require making monthly payments through filing Chapter 13 bankruptcy. .

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.

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Roths Child Law

JANUARY 31, 2023

Filing the wrong chapter Personal bankruptcies fall into two categories - Chapter 7 and Chapter 13 bankruptcies. It is important that you understand how these types of bankruptcies differ. Bankruptcy can give you a fresh start.

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Sawin & Shea

MARCH 20, 2024

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. A bankruptcy attorney helps someone clarify and organize their finances while getting most types of debt discharged.

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Sawin & Shea

MARCH 6, 2024

We regularly see people who have lost time, money, and points on their credit score only to get sued and be faced with garnishments while in these programs. Pros & Cons of Bankruptcy Bankruptcy, like other methods of debt management, has its benefits and drawbacks.

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Sawin & Shea

JULY 12, 2023

Both forms of bankruptcy provide an automatic stay, which is a legal order that protects you from creditors. Once you’ve filed your bankruptcy petition, creditors will no longer be able to take any action to collect debts against you. They’ll be unable to garnish your wages, foreclose on your home, and repossess your belongings.

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Debt Free Colorado

DECEMBER 23, 2024

However, because assets do not secure these debts, bankruptcy may help eliminate them. To qualify for Chapter 7 bankruptcy, debtors must pass a means test that compares their income to their state’s median income. When you file for bankruptcy, you enter a legal process. This means you no longer owe the money.

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Debt Free Colorado

APRIL 9, 2020

If neglected long enough they will sue you and attempt to garnish your wages and take money from your bank account, but if you’re not working and don’t have any money in the bank account these are empty threats.

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Sawin & Shea

FEBRUARY 2, 2022

We can help you file a Chapter 7 or Chapter 13 bankruptcy, or we can point you in another direction if bankruptcy is not right for you. If a creditor does not want to participate, they can still pursue you in all the ways allowed by law including lawsuits and wage garnishments. Debt Settlement.

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Sawin & Shea

FEBRUARY 7, 2024

If you’re considering filing for Chapter 7 or Chapter 13 bankruptcy , you need to know how much you should expect to pay for filing fees and other necessary expenses. You may also wonder whether you can file bankruptcy, no money down. The short answer is “yes.”

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Debt Free Colorado

MARCH 3, 2023

There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed. Are My Creditors capable of appealing My Bankruptcy?

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Credit Corp

MAY 1, 2024

File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts. In a Chapter 7 bankruptcy, also known as a liquidation bankruptcy, a trustee sells some of your assets and uses the proceeds to repay as much of your debt as possible.

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Sawin & Shea

JANUARY 11, 2024

In short, they prepare you for the challenges that come with rebuilding your finances after bankruptcy. Understanding Chapter 7 vs. Chapter 13 Bankruptcy There are 6 types of bankruptcy, but two of the most common types are Chapter 7 and Chapter 13.

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Credit Corp

JUNE 14, 2023

Bankruptcy: Seven or 10 Years Bankruptcies show up in the public records section of credit reports. Chapter 7 bankruptcies may be reported for 10 years from the filing date. Discharged Chapter 13 bankruptcies are generally removed after seven years from the filing date.

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Sawin & Shea

MARCH 27, 2024

In this blog, we take a close look at ways Chapter 7 bankruptcy affects future or current employment. If you have additional questions, we encourage you to read our online articles about filing bankruptcy. What Is Chapter 7 Bankruptcy? Chapter 7 is often referred to as liquidation bankruptcy.

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Sawin & Shea

APRIL 3, 2024

Due to the negative perceptions of bankruptcy, many professionals worry about whether bankruptcy affects their ability to retain professional licenses and certifications. How Will Filing Bankruptcy Impact My Professional License? That said, there are some situations in which your office could learn of your bankruptcy.

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Sawin & Shea

JUNE 28, 2023

Do Not: Try to Transfer or Hide Assets If you’ve transferred any assets to another party before declaring bankruptcy, you’re not gaining any protection. If assets are transferred in anticipation of filing for bankruptcy, a trustee can recover those assets in a Chapter 7 bankruptcy since the transfer would rightfully be seen as fraudulent.

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Sawin & Shea

NOVEMBER 15, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is a liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets.

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Collection Industry News

SEPTEMBER 23, 2020

It can garnish wages and bank accounts, • It can force the sheriff to seize your home, real estate, and personal property. Failing to respond to a lawsuit can result in default judgment on a case you could have won, and end in wage garnishment or loss of other assets. Bond & Botes Helps People Struggling with Debt.

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Debt Free Colorado

OCTOBER 25, 2024

It allows them to eliminate or reorganize their debts under the rule of the bankruptcy court. There are three types of bankruptcy relevant to businesses: Chapter 7: Liquidation Chapter 7 bankruptcy is often called liquidation bankruptcy. Creditors must cease all attempts to collect debts.

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Sawin & Shea

JANUARY 25, 2022

These remedies can include garnishing your wages and bank accounts and seizing and selling your non-exempt personal property. If the unsecured debt is a federal student loan, the Department of Education can garnish up to 15% of your disposable income without filing a lawsuit. What collection remedies are allowed will vary by state.

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Debt Free Colorado

MARCH 10, 2021

In one case, UpRight substantially delayed filing its client’s bankruptcy case for almost a year after it misrepresented that it had a local attorney who was licensed in Montana available to file the case. UpRight’s delay resulted in a creditor garnishing more than $6,000 of the debtor’s wages.

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. Unfortunately, not everyone filing Chapter 13 will complete the repayment process. Unfortunately, not everyone filing Chapter 13 will complete the repayment process.

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