Sawin & Shea

MARCH 15, 2022

Your investment real estate’s outcome depends entirely on whether you file for Chapter 7 or Chapter 13 bankruptcy. Investment Real Estate in Chapter 7 Bankruptcy. Chapter 7 bankruptcy is a great option for those looking to discharge eligible debts. Chapter 13 Cramdowns.

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Sawin & Shea

DECEMBER 7, 2022

If you’re not sure whether some of your purchases are considered “luxury,” consult with a Chapter 7 or Chapter 13 bankruptcy attorney. If you make a luxury purchase of over $600 within 90 days of filing for bankruptcy, creditors will request for the bankruptcy court to not discharge the debt.

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Debt Free Colorado

DECEMBER 30, 2023

Quick Summary: Bankruptcy can be a viable option amid economic challenges and advantageous for retirement savings with proper guidance. IRAs are generally protected in both Chapter 7 and Chapter 13 bankruptcies, offering security for retirement funds. Will I Preserve My 401(k) Plan in Bankruptcy?

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Sawin & Shea

AUGUST 9, 2022

If you have any questions and are considering if a Chapter 7 or Chapter 13 bankruptcy is the right choice for you, our team at Sawin & Shea can help. We have years of experience handling bankruptcy cases and are dedicated to helping our clients achieve the best possible outcome.

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Sawin & Shea

JUNE 16, 2021

Con: Chapter 7 bankruptcy stays on your credit report for 10 years. Chapter 13 bankruptcy: In this type of bankruptcy, you and the bankruptcy trustee make a structured plan to pay off a percentage of your debts over a 3-5 year payment plan under the court’s protection. 30% Amounts owed.

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. You should get legal assistance from a knowledgeable bankruptcy attorney in Denver. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy.

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Debt Free Colorado

JANUARY 20, 2024

Bankruptcy is a legal process designed to help people overcome financial challenges. It comes in different forms, notably Chapter 7 and Chapter 13. How Does Chapter 7 and 13 Bankruptcy Affect My Medical Bills? Chapter 7 and Chapter 13 bankruptcies can have different effects on medical bills.

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Sawin & Shea

FEBRUARY 28, 2024

A variety of factors determine if you’ll be able to discharge all of certain personal loans, including whether the loan is secured or unsecured and whether you file via Chapter 7 or Chapter 13 bankruptcy. Unsecured loans don’t have collateral.

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Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. There is a Chapter 13 Plan that controls how various debts are treated.

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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

OCTOBER 27, 2021

Bankruptcy Code. You can discharge the medical debt by filing Chapter 7 or Chapter 13 bankruptcy because medical debts are generally what is described as “unsecured debts”. Whether you take on your medical debt by attempting to negotiate or by declaring bankruptcy, you should consider talking to a lawyer.

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Sawin & Shea

JANUARY 24, 2024

Chapter 13 bankruptcy sets up a 3-5 year repayment plan to pay back a portion of what you owe. Equity loans put your home at risk as collateral. The court sells off your nonexempt assets and uses the proceeds to pay your creditors. Your assets are protected while you make monthly payments to creditors through the court.

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Sawin & Shea

JULY 6, 2022

If you have a secured guarantee on a loan, a lender can seize your backing collateral, and this is even the case if you discharge your personal guarantee in bankruptcy. If you’re considering filing for bankruptcy, you need a skilled lawyer at your side to help you through the process.

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Sawin & Shea

JUNE 7, 2023

The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan. Cosigners and Chapter 13 Bankruptcy Filing Chapter 13 bankruptcy allows individuals with regular income to consolidate their debts and repay them over a period of three to five years.

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Credit Corp

NOVEMBER 12, 2020

That means that within two to four years after successfully finishing a Chapter 13 bankruptcy, it will fall off your credit. Will a High Credit Score Help You During a Bankruptcy? The truth: Bankruptcies are far from created equal. As already stated above, some stay on your credit longer than others.

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Sawin & Shea

JANUARY 18, 2023

What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. Unsecured debts are not backed by collateral, such as car payments and home mortgages.

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Roths Child Law

OCTOBER 1, 2021

Mortgages are treated as secured loans because they are attached to the home as collateral. To keep your home through the bankruptcy process, you will need to mobilize enough finances to bring your payments up to date. . The only exception to this rule is property damage when filing Chapter 13 bankruptcy. .

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Sawin & Shea

AUGUST 23, 2023

Before you decide if bankruptcy is the best option for you, it’s important to understand the two different types of bankruptcy that are available to individuals: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Most Debtors, however keep everything they have.

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Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

OCTOBER 27, 2021

Bankruptcy Code. You can discharge the medical debt by filing Chapter 7 or Chapter 13 bankruptcy because medical debts are generally what is described as “unsecured debts”. Whether you take on your medical debt by attempting to negotiate or by declaring bankruptcy, you should consider talking to a lawyer.

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Debt Free Colorado

MARCH 3, 2023

Do Bankruptcies Come in Different Types? 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.

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Sawin & Shea

NOVEMBER 15, 2023

In broad terms, if a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay. That means that you must continue to pay on most secured debts to keep or hold onto the collateral. This is what is called a “surrender” under bankruptcy law.

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Debt Free Colorado

OCTOBER 12, 2023

Key information needed includes the applicant’s Social Security Number, business name (if applicable), chosen bankruptcy chapter, filing fee payment method, past bankruptcy filings, home rental status, ownership of hazardous property, and completion of a credit counseling course.

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Sawin & Shea

JUNE 14, 2023

Although the process takes much longer than Chapter 7, you’ll receive an immediate automatic stay, meaning that your creditors can’t take action against you, such as repossessing collateral and garnishing your wages. Get a FREE consultation today by calling 317-759-1483, or you can schedule your consultation online here.

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Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Briefly, unsecured debts are not backed by any collateral. Credit card and medical debt are examples of unsecured debt. Where Can I Get Expert Help?

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Consumer Financial Services Law

JANUARY 31, 2020

After repossession, Denby-Peterson filed an emergency Chapter 13 Bankruptcy petition in the Bankruptcy Court for the District of New Jersey. The Court began its analysis by considering the plain language of Section 362(a)(2), which provides (as relevant here) that the filing of a bankruptcy petition “operates as a stay.

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Sawin & Shea

APRIL 24, 2024

Bankruptcy Filing and Preference Payments When a debtor decides that the best way forward is filing bankruptcy, that’s not a decision that is undertaken lightly. To determine the best way to proceed, and whether Chapter 7 or Chapter 13 bankruptcy are right for you, you should meet with an experienced bankruptcy lawyer.

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Better Credit Blog

JANUARY 11, 2022

There are several different types of bankruptcies, but the majority of individuals can only file for Chapter 7, which is also known as liquidation bankruptcy, and Chapter 13 bankruptcy, which is also known as the wage earner’s plan. How Much Does It Cost To File For Bankruptcy?

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Sawin & Shea

FEBRUARY 8, 2023

An unsecured credit card does not require collateral to obtain approval. Unlike secured credit cards, which require a security deposit that serves as collateral, unsecured credit cards are approved based on your creditworthiness, income, and other factors.

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Sawin & Shea

JANUARY 25, 2022

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. Secured debts are a type of debt backed by an asset that is used as collateral. What is Secured Debt? What is Unsecured Debt?

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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. To speak with a Colorado attorney experienced in debt relief and bankruptcy, call The Law Office of Clark Daniel Dray at (303) 900-8598 or use the tool below to scheduled a free consultation.

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Debt Free Colorado

JANUARY 27, 2022

Non-Exempt Assets and Chapter 13 Bankruptcy. The filer maintains all non-exempt property as long as unsecured creditors get the value of the non-exempt asset under the Chapter 13 repayment plan. What happens to non-exempt property in a Chapter 7 bankruptcy? reasonably necessary clothing.

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Consumer Financial Services Law

JANUARY 22, 2021

Background The case arose from four separate chapter 13 bankruptcy cases in which the debtors sought to regain possession of their vehicles from the City of Chicago, which had seized and impounded the vehicles prepetition due to unpaid parking tickets and similar traffic fines. The case, City of Chicago v. Fulton, No.

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Debt Free Colorado

MARCH 10, 2021

Another bankruptcy court previously sanctioned UpRight for implementing the towing program—which it used in more than 200 cases across the country—describing it as a “scam from the start,” and the towing company’s owners were indicted for their role in the scheme.

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