Sawin & Shea

JANUARY 18, 2023

In that case, the bankruptcy court will recommend that you declare Chapter 13 bankruptcy , which consolidates your debts into a three-to-five-year repayment plan. What Happens After You File Chapter 7 Bankruptcy? Additionally, your creditors will not be allowed to contact you.

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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

OCTOBER 20, 2021

This shorter period is likely because most individuals who file Chapter 13 will still have to pay some debts back through a payment plan rather than having it entirely discharged. Filing Again After Chapter 13 Bankruptcy. Filing Successive Chapter 13 Bankruptcy Cases.

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Sawin & Shea

OCTOBER 20, 2021

This shorter period is likely because most individuals who file Chapter 13 will still have to pay some debts back through a payment plan rather than having it entirely discharged. Filing Again After Chapter 13 Bankruptcy. Filing Successive Chapter 13 Bankruptcy Cases.

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Sawin & Shea

APRIL 26, 2023

If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. 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.

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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

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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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. The issue with these programs is that they are voluntary.

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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

JULY 12, 2023

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. You’ll even have protection from collection calls and other forms of aggressive communication.

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Debt Free Colorado

APRIL 9, 2020

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. Credit Cards.

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Collection Industry News

SEPTEMBER 23, 2020

However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. The increase in lawsuits filed against consumers for unpaid medical debt, credit card bills, automobile loans and other collection issues comes as no surprise to attorneys and others working in the industry.

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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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Credit Corp

JUNE 14, 2023

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. That collection account can remain on your credit report for seven years plus 180 days from the date your bill was due in March.

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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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Debt Free Colorado

DECEMBER 23, 2024

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. Bankruptcy can help people eliminate unsecured debts. When you file for bankruptcy, you enter a legal process.

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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.

Debt Consolidation 52

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Sawin & Shea

MARCH 30, 2021

Collect copies of all invoices you sent out. Provide copies of any business-related receipts You will need two years of tax returns if you are filing Chapter 7 and four years of tax returns if you are filing Chapter 11 bankruptcy. You will be able to download a record of your bank deposits.

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Sawin & Shea

SEPTEMBER 20, 2023

Upon filing a Chapter 7, you receive automatic court-oredered protection from creditors and aren’t subject to lawsuits, repossessions, or wage garnishments. From July 2020 to June 2021, there were 15,719 bankruptcies filed in Indiana. What if I Have More Property Than You Can Exempt in a Chapter 7?

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Sawin & Shea

JANUARY 25, 2022

However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. How your debt is handled in bankruptcy will depend on which type you file. Instead, when a debtor fails to pay, the lender must first file a lawsuit in order to collect what is owed.

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Credit Corp

MAY 1, 2024

Chapter 13 is for debtors who don’t meet the requirements to qualify for Chapter 7 relief. If you have regular monthly income, a Chapter 13 bankruptcy allows you to set up a debt repayment plan. Bankruptcy also allows you to avoid wage garnishment in the future.

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Debt Free Colorado

OCTOBER 25, 2024

Flexibility: Chapter 11 allows for various strategies to return to profitability. Chapter 13: Repayment Plans Chapter 13 bankruptcy is usually more commonly associated with individual debtors. It goes into effect as soon as the bankruptcy petition is filed.

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Sawin & Shea

MARCH 27, 2024

Bankruptcy Court Process Now, let’s unpack what you can expect in your bankruptcy proceedings. When you file a Chapter 7 petition, you’ll receive an automatic stay protecting you from lawsuits and other collection efforts. You’ll also be assigned a trustee to manage your bankruptcy case.

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Sawin & Shea

NOVEMBER 15, 2023

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. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).

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