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Need to Know About Debt Negotiation and Settlement?

Sawin & Shea

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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What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

A variety of factors determine whether or not 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. Discharging Personal Loans Through Chapter 13 Bankruptcy.

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Tips For Credit Card Debt Relief

Sawin & Shea

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. When you stop making payments and default, your account will be sent to a collection agency that may be willing to offer you a settlement that is less than what you actually owe.

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Debts That Can’t Be Discharged During Bankruptcy

Sawin & Shea

Bankruptcy isn’t rare in the Hoosier state; Indiana has the 7th highest percentage of bankruptcies in the United States, based on population: 22,748 in 2019, or 3.38 It simply means that any rent that is owed from before you filed bankruptcy will be discharged. Collection agency bills. per every 1,000 people.

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Discharge in Bankruptcy – Bankruptcy Basics

Sawin & Shea

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. It works through reorganization, as opposed to liquidation, and you do not have to pass the Chapter 7 means test. Under Chapter 13 Bankruptcy, you have time and a plan in which to repay your debts.

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

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. Chapter 7 will remain on credit reports for ten years and Chapter 13 bankruptcies remain for seven years.

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How Long Does Bad Credit Last?

Credit Corp

Your creditor may sell your charged-off debt to a collection agency for pennies on the dollar. The collection agency may then attempt to collect the debt anew. Bankruptcy: Seven or 10 Years Bankruptcies show up in the public records section of credit reports.