Roths Child Law

OCTOBER 18, 2021

As you are likely aware, there are two types of bankruptcy that consumers can choose to file. There's Chapter 7 bankruptcy, which involves the liquidation of some of your assets. Many people are worried that they might lose everything when they file for bankruptcy. However, it is not the case, as detailed below.

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Sawin & Shea

MARCH 6, 2024

You still owe everything you owed before– you just have a new lender to repay. Understanding Bankruptcy Bankruptcy is a legal process that allows individuals who are unable to pay their debts to seek relief from their creditors under the protection of federal bankruptcy courts.

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor.

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Sawin & Shea

APRIL 5, 2023

Filing for Chapter 7 or Chapter 13 bankruptcy is sometimes the best solution for those struggling with overwhelming debt. However, many debtors have questions regarding how filing for bankruptcy impacts child support payments and debts. Can You File Bankruptcy on Child Support?

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Credit Corp

FEBRUARY 23, 2024

How Long After Chapter 13 Can I Buy a House? A Chapter 13 bankruptcy allows debtors to create a repayment plan to the creditors they owe over a three- or five-year period. Therefore, the waiting periods for a Chapter 13 bankruptcy differ slightly. A minimum down payment of 3.5%

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Sawin & Shea

FEBRUARY 14, 2023

Most Chapter 7 cases are what is called a “no-asset” case and the debtors keep everything they have. With Chapter 13 bankruptcy, instead of discharging all of your debt, a payment plan is worked out so that you can pay a percentage of your debts over a three to five-year period.

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Debt Free Colorado

MARCH 3, 2023

Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. Since the effects are severe and long-lasting, bankruptcy is typically seen as the last option for managing debt. Do Bankruptcies Come in Different Types?

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Credit Corp

MAY 30, 2023

Additionally, lenders may hesitate to lend to you if there is a bankruptcy on your credit report. Do All Bankruptcies Have Equal Impact? The type of bankruptcy you file and the amount of debt you need to get rid of have varying effects on your credit score. Chapter 7 is reported on your credit report for up to 10 years.

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Debt Free Colorado

MARCH 10, 2023

At the beginning of the bankruptcy process, a petition is filed by the debtor or, less frequently, by creditors. After all the assets have been reviewed and evaluated for the debtor, some of the debt may be partially fulfilled utilizing the assets. A bankrupt person or business is unable to pay its debts.

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Sawin & Shea

APRIL 12, 2023

There are five different types of bankruptcy filings, but for clarity’s sake, we’ll be emphasizing Chapter 7 and Chapter 13 bankruptcy-related issues as they are two of the most common ways to file. What is the Difference Between Chapter 7 and Chapter 13?

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Debt Free Colorado

DECEMBER 23, 2024

This means the lender can take no property, like a house or car if you do not pay. Instead, lenders rely on your promise to pay back the money. However, because assets do not secure these debts, bankruptcy may help eliminate them. Chapter 7 bankruptcy remains on credit reports for 10 years. What is Unsecured Debt?

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Sawin & Shea

SEPTEMBER 13, 2023

If you choose bankruptcy, there are also different options depending on whether you choose a Chapter 13 bankruptcy or a Chapter 7 bankruptcy. If you are facing foreclosure or bankruptcy, the best way to determine which choice is right for you is to speak with an experienced bankruptcy attorney.

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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

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

For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. 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

Debt forgiveness is when a lender reduces or eliminates the amount you owe. 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.

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Sawin & Shea

JULY 13, 2022

Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position. As a result, the majority of debtors who file for Chapter 7 bankruptcy do not get their college loans dismissed.

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Debt Free Colorado

MARCH 10, 2021

UpRight’s delay resulted in a creditor garnishing more than $6,000 of the debtor’s wages. In the other case, UpRight obtained payment of its attorney’s fees by advising the debtors to participate in an improper scheme whereby they surrendered their vehicle to an out-of-state towing company.

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Better Credit Blog

JANUARY 11, 2022

About Bankruptcy. If a person or a business can no longer meet their outstanding debts, they can begin the legal proceeding known as bankruptcy. When this happens, the debtor files a petition to a federal bankruptcy court in which their assets are measured and evaluated. How Much Does It Cost To File For Bankruptcy?

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