Remove Chapter 13 bankruptcy Remove Judgment Remove Secured debt
article thumbnail

How are Medical Bills Treated in Chapter 13 Bankruptcy?

Sawin & Shea

Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. Chapter 13 bankruptcy is discussed below.

article thumbnail

How Long Will Chapter 13 Delay Foreclosure?

Sawin & Shea

If you’re at risk of losing your home, Chapter 13 bankruptcy could be your best option. When you’re going through the process of filing Chapter 13, foreclosure cannot occur because you’re granted an automatic stay, meaning that lenders cannot pursue your debts and recover collateral, including your home.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

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.

article thumbnail

Discharge in Bankruptcy – Bankruptcy Basics

Sawin & Shea

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. It works through reorganization, as opposed to liquidation, and you do not have to pass the Chapter 7 means test. Under Chapter 13 Bankruptcy, you have time and a plan in which to repay your debts.

article thumbnail

Mistakes to avoid when filing for personal bankruptcy

Roths Child Law

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. Bankruptcy can give you a fresh start. Still, others delay the process in an attempt to “buy time.”

article thumbnail

How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

While the process can seem daunting, partnering with the right legal team can make all the difference in navigating the complexities of the law and securing the fresh start you deserve. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. Those who are no longer able to pay their debts can, however, start over through a legal process. Do Bankruptcies Come in Different Types? Do Bankruptcies Come in Different Types?