Chapter 13 bankruptcy Collateral Student Loans 
Sawin & Shea
SEPTEMBER 14, 2022
When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys. What is Consumer Debt?
Sawin & Shea
MARCH 9, 2022
Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts. Secured debts refer to debts with collateral, like house payments and car payments.
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Sawin & Shea
JULY 6, 2022
A friend or family member may step in to assist the borrower in obtaining a loan for a car, home, or student loan. Unfortunately, if a friend or family member needs someone to personally guarantee their loan, that likely means they’ll have a high-interest rate and have a higher chance of defaulting on payments.
Sawin & Shea
OCTOBER 27, 2021
25% of debts in collections were credit card related, and 20% were student loan debts. 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”. Contact Indiana Bankruptcy Lawyers.
Debt Free Colorado
APRIL 9, 2020
You’ll have more flexibility with a nationwide loan servicers like Toyota, Ally, or Santander than you will with a buy-here-pay-here lender, but their sympathy is limited. 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.
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.
Roths Child Law
OCTOBER 1, 2021
These are known as “non-dischargeable” debts, meaning that you must still repay them once the bankruptcy proceeding is complete. . Here are some of the debts that you generally cannot clear away with bankruptcy: Student loan debt. Mortgages are treated as secured loans because they are attached to the home as collateral.
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