In the Red

FEBRUARY 4, 2022

The total debt amount in the definition of small business debtor in Section 101(51D) will rise to $3,024,725 from $2,725,625. Other adjustments will affect consumers more than business debtors. Official bankruptcy forms will likely be updated as April 1st draws near. . . .

Bankruptcy 147

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 147

In the Red

FEBRUARY 15, 2019

The total debt amount in the definition of small business debtor in Section 101(51D) will rise to $2,725,625. Other adjustments will affect consumers more than business debtors.

Bankruptcy 140

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 140

In the Red

FEBRUARY 5, 2025

Other adjustments will affect consumers more than business debtors. For example, the debt limit for an individual to qualify for a Chapter 13 bankruptcy case will rise to $1,580,125 of secured debt, and certain exemption amounts will also increase.

Bankruptcy 130

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 130

In the Red

FEBRUARY 5, 2025

Other adjustments will affect consumers more than business debtors. For example, the debt limit for an individual to qualify for a Chapter 13 bankruptcy case will rise to $1,580,125 of secured debt, and certain exemption amounts will also increase.

Bankruptcy 130

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 130

Sawin & Shea

SEPTEMBER 21, 2022

Filing for Chapter 13 bankruptcy can be both challenging and stressful. One common question that filers have regarding the Chapter 13 process involves income increases and whether they affect payment plans. For experienced Chapter 13 bankruptcy attorneys in Indiana , contact the offices of Sawin & Shea, LLC.

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Chapter 13 bankruptcy Bankruptcy Unsecured Creditor Lawyers 94

In the Red

FEBRUARY 4, 2022

Other adjustments will affect consumers more than business debtors. For example, the debt limit for an individual to qualify for a Chapter 13 bankruptcy case will rise to $1,395,875 of secured debt, and certain exemption amounts will also increase. Given recent inflation, these increases are larger than usual.

Bankruptcy 130

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 130

In the Red

FEBRUARY 4, 2022

Other adjustments will affect consumers more than business debtors. For example, the debt limit for an individual to qualify for a Chapter 13 bankruptcy case will rise to $1,395,875 of secured debt, and certain exemption amounts will also increase. Given recent inflation, these increases are larger than usual.

Bankruptcy 130

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 130

Sawin & Shea

MARCH 2, 2021

Considering Chapter 13 bankruptcy? Chapter 13 bankruptcy takes a bit longer than Chapter 7, but it may be the best plan for you. Let’s look at the factors that determine how long a bankruptcy takes so you can get an idea of your bankruptcy’s timeframe. Your income. Your assets.

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Chapter 13 bankruptcy Bankruptcy Creditors Debtor 98

Sawin & Shea

DECEMBER 29, 2021

The good news is that we can still help you with your debts by filing a Chapter 13, or reorganization, case if non-exempt assets would cause a problem in a Chapter 7 filing. In a normal Chapter 13 there is no liquidation of assets. Every state handles bankruptcy exemptions differently.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debtor 98

Sawin & Shea

FEBRUARY 22, 2023

And although there are benefits to obtaining this type of mortgage, debtors often have to pay increased interest and monthly payments. These increased payments can put financial pressure on debtors, leading them to fall behind on their housing payments. Adjustable rate mortgages have been on the rise in recent years.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Foreclosure 72

Sawin & Shea

DECEMBER 7, 2022

Those who are about to file for bankruptcy should also avoid accumulating substantial debt. Many debtors make the mistake of racking up more debt before filing because they figure that they’ll be able to discharge it. Most of the time, Chapter 7 filers are able to reaffirm their mortgages as long as they are not behind on payments. .

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 98

Sawin & Shea

AUGUST 2, 2022

If you have any further questions and need help filing a Chapter 13 or Chapter 7 bankruptcy, don’t hesitate to reach out—the team at Sawin & Shea, LLC can assist you. For What Reasons Would Someone Convert From Chapter 13 to Chapter 7? Do I Qualify to Convert My Chapter 13 to a Chapter 7?

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Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Creditors 105

Mich Bankruptcy Blog

JANUARY 22, 2018

Filing for Chapter 13 bankruptcy as a consumer is a voluntary decision. Once a Chapter 13 case has been filed, it is also up to the debtors to dismiss the case if they so choose. Read More › Tags: Chapter 13 , Did you Know?

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Chapter 13 bankruptcy Debtor Bankruptcy 40

Sawin & Shea

AUGUST 24, 2020

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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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

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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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Collateral 98

Sawin & Shea

AUGUST 17, 2022

There are two primary types of bankruptcies that a person might file when struggling to pay their debts: Chapter 7 and Chapter 13. In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors.

Bankruptcy 105

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Debtor 105

Sawin & Shea

MARCH 28, 2023

If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, you need to be aware of the different components of the filing process, including the role of the bankruptcy trustee. A bankruptcy trustee overseeing a Chapter 7 bankruptcy has many responsibilities. pay back creditors.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 81

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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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Mich Bankruptcy Blog

JUNE 11, 2018

Court of Appeals for the Sixth Circuit (the “Court”) ruled that penalties assessed by the state of Michigan against two debtors, stemming from fraud associated with the wrongful receipt of Michigan unemployment benefits, are non-dischargeable in Chapter 13 bankruptcy pursuant to Bankruptcy Code § 523(a)(2).

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Chapter 13 bankruptcy Bankruptcy Debtor 40

Sawin & Shea

APRIL 6, 2021

Plenty of people file for bankruptcy each year — possibly including your friends and family, even if they didn’t tell you about it. In recent years, just over 750,000 Americans per year have filed for Chapter 7 , Chapter 11, or Chapter 13 bankruptcy. Thinking Employed People Do Not Need Bankruptcy.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Creditors 98

Credit Corp

MAY 3, 2023

In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy? What Is Chapter 7 Bankruptcy? What Is Chapter 13 Bankruptcy? Should You File for Bankruptcy? What Is Chapter 13 Bankruptcy?

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Creditors 97

Titan Consulting

AUGUST 23, 2020

If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score. Chapter 7 liquidates assets and discharges qualified debts.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

JANUARY 11, 2024

Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances.

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Education Debtor Bankruptcy Chapter 13 bankruptcy 52

Roths Child Law

JUNE 11, 2024

One option to get rid of this debt easily when the debtor can not pay it on their own is bankruptcy. Bankruptcy is a process that allows debtors to regain control of their finances, either by discharging eligible debts in a Chapter 7 bankruptcy or via a repayment/restructuring plan through Chapter 13.

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Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Debtor 52

Sawin & Shea

JANUARY 18, 2024

Financial challenges can be overwhelming, and seeking relief through Chapter 13 bankruptcy is a viable option for many. As you think about filing bankruptcy, it’s crucial to understand the interaction between Chapter 13 and car loans. What is Chapter 13 Bankruptcy?

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Chapter 13 bankruptcy Loans Bankruptcy Repossession 52

Sawin & Shea

JANUARY 19, 2022

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. When you put the two together, it can cause debtors even more stress. What Happens to Tax Debt Accrued After You File for Bankruptcy? How to File Taxes After Bankruptcy. Filing Taxes After Chapter 7.

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Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Debtor 119

Sawin & Shea

FEBRUARY 16, 2022

To start an emergency bankruptcy filing, some basic documents need to be filed with the court. A voluntary bankruptcy petition containing the Debtors contact information and chapter designation is prepared and signed. The Debtor(s) need to complete the required credit counseling session.

Bankruptcy 98

Bankruptcy Chapter 13 bankruptcy Repossession Debt collector 98

Sawin & Shea

MAY 26, 2021

Ask your bankruptcy attorney about applicable exemptions. You’ll also need to choose between Chapter 7 or Chapter 13 bankruptcy. If you opt for Chapter 13, an automatic co-debtor stay prevents creditors from hassling either you or your spouse about shared debts. Questions About Bankruptcy?

Bankruptcy 97

Bankruptcy Chapter 13 bankruptcy Creditors Repossession 97

Roths Child Law

OCTOBER 27, 2023

Bankruptcy is a tool debtors can use to resolve their debt obligations. There are many bankruptcy options. One of the most common is Chapter 7 bankruptcy. This form of bankruptcy helps resolve large amounts of debt with very little consequences. How long must you wait?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Debtor 52

Sawin & Shea

APRIL 17, 2024

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

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?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debtor 52

Sawin & Shea

MARCH 14, 2023

Indiana allows debtors to exempt assets when filing for bankruptcy up to a certain monetary amount, and that amount recently increased. In this blog, we’ll share the details regarding this exemption increase, the different exemption categories, and how these exemptions impact Chapter 7 and Chapter 13 bankruptcy.

Bankruptcy 64

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Debtor 64

Sawin & Shea

MARCH 2, 2022

Shortly after you file for Chapter 7 or Chapter 13 bankruptcy, you will receive a notice for your section 341 meeting of creditors. It’s an essential part of the bankruptcy process that usually takes place at the Federal courthouse, but currently is done over the phone or via a Zoom chat due to the pandemic.

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Chapter 13 bankruptcy Bankruptcy Creditors Chapter 7 bankruptcy 105

Mich Bankruptcy Blog

JULY 8, 2020

A Chapter 13 bankruptcy plan requires a debtor to satisfy unsecured debts by paying all “projected disposable income” to unsecured creditors over a five-year period. 1] Read More › Tags: 6th Circuit Court of Appeals , Chapter 13. In a recent case before the U.S.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Unsecured Creditor Unsecured Debt Debtor 52

Sawin & Shea

SEPTEMBER 6, 2023

These include declaring Chapter 7 or Chapter 13 bankruptcy. While both are good options to stop foreclosure (or postpone), in this blog we’ll focus on Chapter 13. Unlike Chapter 7 bankruptcy, Chapter 13 does not require the filer to liquidate all their assets (including their home) to pay off creditors.

Foreclosure 52

Foreclosure Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy 52

Debt Free Colorado

JANUARY 20, 2024

How Does Chapter 7 and 13 Bankruptcy Affect My Medical Bills? Chapter 7 and Chapter 13 bankruptcies can have different effects on medical bills. Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Better Credit Blog

APRIL 1, 2022

A Chapter 7 bankruptcy will be removed from your credit report automatically in 10 years because, in this case, none of the debt is repaid. A Chapter 13 bankruptcy is cleared in 7 years since the debt is partially repaid. How does bankruptcy affect my credit score?

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Credit Bureau 95