Remove Chapter 13 bankruptcy Remove Garnishment Remove Unsecured Debt
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Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. First, let’s briefly touch on two of the most common types of bankruptcy: Chapter 7 and Chapter 13.

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What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

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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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. What’s the Difference Between Secured and Unsecured Personal Loans? Credit card debts.

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Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. Before turning to this option, you need to know who can declare Chapter 7 bankruptcy, disqualifying factors, and the overall filing process.

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

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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Mistakes to avoid when filing for personal bankruptcy

Roths Child Law

It is for these reasons that you need to avoid the following mistakes when declaring bankruptcy in Tennessee. Filing the wrong chapter Personal bankruptcies fall into two categories - Chapter 7 and Chapter 13 bankruptcies. It is important that you understand how these types of bankruptcies differ.