Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt. What’s a Guarantor?

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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.

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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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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. They typically answer questions from a debtor about back taxes, filing annual tax returns, and tax penalties they may owe.

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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

FEBRUARY 7, 2024

If you’re considering filing for Chapter 7 or Chapter 13 bankruptcy , you need to know how much you should expect to pay for filing fees and other necessary expenses. You may also wonder whether you can file bankruptcy, no money down. In this blog, we’ll discuss how to file bankruptcy with no money.

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Sawin & Shea

JULY 12, 2023

Both forms of bankruptcy provide an automatic stay, which is a legal order that protects you from creditors. 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.

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Sawin & Shea

APRIL 3, 2024

Due to the negative perceptions of bankruptcy, many professionals worry about whether bankruptcy affects their ability to retain professional licenses and certifications. How Will Filing Bankruptcy Impact My Professional License? That said, there are some situations in which your office could learn of your bankruptcy.

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Debt Free Colorado

DECEMBER 23, 2024

However, because assets do not secure these debts, bankruptcy may help eliminate them. To qualify for Chapter 7 bankruptcy, debtors must pass a means test that compares their income to their state’s median income. Chapter 7 bankruptcy remains on credit reports for 10 years.

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Debt Free Colorado

OCTOBER 25, 2024

Chapter 13: Repayment Plans Chapter 13 bankruptcy is usually more commonly associated with individual debtors. Chapter 13 includes the following aspects: Repayment Plan: Debtors propose a repayment plan to repay all or part of their debts over three to five years.

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Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. This is what is called a “surrender” under bankruptcy law.

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Sawin & Shea

JANUARY 25, 2022

Instead, when a debtor fails to pay, the lender must first file a lawsuit in order to collect what is owed. If an agreement cannot be reached between the debtor and the debt collector, the lender will likely file a lawsuit against you. Again, you can decide to file bankruptcy instead, which can put a pause on collection efforts.

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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

MARCH 10, 2021

In one case, UpRight substantially delayed filing its client’s bankruptcy case for almost a year after it misrepresented that it had a local attorney who was licensed in Montana available to file the case. UpRight’s delay resulted in a creditor garnishing more than $6,000 of the debtor’s wages.

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Sawin & Shea

MARCH 27, 2024

Completing Chapter 7 To complete Chapter 7, you are required to undergo a finance management course as well as credit counseling. You must complete credit counseling within 180 days of filing your petition, and you’ll need to complete a debtor education course after your Meeting of Creditors.

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