Roths Child Law

MAY 13, 2024

Although there are exceptions to this general rule, Chapter 7 might not be the best option for those concerned with foreclosure, although Chapter 13 could potentially provide a more viable solution. Since Chapter 7 does not allow for the restructuring of debts, it provides no mechanism to catch up on arrears.

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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. What Happens After You File Chapter 7 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

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

The INCAA survey also found that medical debts were most likely to be in collections. Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. Bankruptcy Code.

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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

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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Debt Free Colorado

DECEMBER 23, 2024

Unsecured debt is a type of debt that is not backed by collateral. In this article, we will explore the types of unsecured debts that bankruptcy can erase. Quick Summary: Filing for bankruptcy stops all debt collection right away through the automatic stay. Some debts stay with you even after bankruptcy.

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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. The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision.

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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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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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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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Debt Free Colorado

JANUARY 27, 2022

The following are examples of property that a Chapter 7 debtor is frequently required to surrender (“non-exempt” property) and property that is typically permitted to be retained by the debtor (“exempt” property). collectible stamps, coins, and other memorabilia. Non-Exempt Assets and Chapter 13 Bankruptcy.

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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. However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt. What is the difference?

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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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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 collection remedies are allowed will vary by state.

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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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