Sawin & Shea

JULY 6, 2022

For example, you may sign a personal guarantee to secure a loan for your business, and if you fail to make payments, the lender can go after both the business and your personal funds because you’re liable through the written agreement. Does a Personal Guarantee Survive Bankruptcy?

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Roths Child Law

MARCH 11, 2022

A bankruptcy can be a good way to get your financial health back on track, but it also comes with some limitations. If you do need a personal loan after your Chapter 7 or Chapter 13 bankruptcy, it may be possible to get it.

Personal loans 98

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Sawin & Shea

OCTOBER 26, 2022

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. If you fail to repay an unsecured personal loan, the lender cannot repossess your assets.

Personal loans 98

Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Sawin & Shea

APRIL 13, 2021

What you will learn from reading this article: Facts about selling your home while going through bankruptcy. Details about Chapter 7 and Chapter 13 Bankruptcies and your house. During Chapter 7 bankruptcy, the Trustee will not sell your house if the Bankruptcy Homestead Exemption covers all of the equity.).

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Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. Due to the CARES Act, lenders must allow this forbearance if borrowers meet the two conditions listed above.

Bankruptcy 98

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Sawin & Shea

JANUARY 25, 2023

Why File for Bankruptcy with Rising Interest Rates If you’re struggling with overwhelming debts made worse by increased interest rates, you may want to consider filing for Chapter 13 bankruptcy. Chapter 13 bankruptcy organizes your debts into a repayment plan that lasts three to five years.

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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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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. Auto lenders could also waive payments for those impacted by COVID-19.

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Credit Corp

NOVEMBER 12, 2020

That means that within two to four years after successfully finishing a Chapter 13 bankruptcy, it will fall off your credit. Will a High Credit Score Help You During a Bankruptcy? A bankruptcy also temporarily wipes out all the goodwill you might have developed with your timely payments.

Bankruptcy 105

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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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Sawin & Shea

FEBRUARY 28, 2023

Foreclosure is when a lender exercises its right to seize your mortgaged property if you fail to repay your loan. Your lender will then notify you that you are in default and begin foreclosure proceedings. Your lender will then notify you that you are in default and begin foreclosure proceedings. What is foreclosure?

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Roths Child Law

APRIL 16, 2021

It may only take a few months of missed payments to motivate your lender to foreclose on your home. After he fell behind on his mortgage, the lender eventually decided to foreclose. The lender would likely have preferred to keep getting payments on the higher value than to resell the property for a much lower price.

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Sawin & Shea

MAY 26, 2020

I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. The first thing you might want to do is talk to your lender. If you’re far enough behind that your lender won’t work with you, we’ve got some options in bankruptcy. This is voluntary.

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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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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?

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Sawin & Shea

NOVEMBER 8, 2022

Rather than have your car seized involuntarily, you can give up your vehicle willingly to your lender. Firstly, if your financial problems are only temporary, you should contact your lender to see if there’s a way in which you can make late payments without being at risk of repossession. What Is Voluntary Repossession?

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Roths Child Law

MAY 13, 2024

Chapter 13 Unlike Chapter 7, Chapter 13 bankruptcy functions more like a reorganization of debt to be repaid over a several-year period. For homeowners, this reality provides an opportunity to catch up on overdue mortgage payments.

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Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

OCTOBER 4, 2023

One of the most common questions from those who file for Chapter 7 or Chapter 13 bankruptcy is, “Can I buy a house after bankruptcy?” and “After bankruptcy discharge, when can I buy a house?” In short, yes, you will be able to purchase a home after bankruptcy. Read on to learn more.

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Roths Child Law

JANUARY 23, 2023

The amount of time it will take to get the loan depends on the type of bankruptcy you choose and how long it has been since you filed. Chapter 7 vs. Chapter 13 bankruptcies If you file for Chapter 7 bankruptcy, it will remain on your credit for 10 years. It is also wise to apply for pre-qualification.

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Sawin & Shea

OCTOBER 25, 2023

If you can no longer afford the monthly payments, you can surrender your timeshare when you declare bankruptcy. In this case, the property will go back to the lender. Chapter 7 Timeshare Bankruptcies If you file for Chapter 7 bankruptcy , you might be able to keep your timeshare.

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Sawin & Shea

FEBRUARY 2, 2022

We can help you file a Chapter 7 or Chapter 13 bankruptcy, or we can point you in another direction if bankruptcy is not right for you. Bankruptcy also offers legal protection from your creditors in a system with court oversight and built-in consumer protections.

Credit Card Debt 72

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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. Doing so may allow you to keep it. .

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Sawin & Shea

JULY 19, 2023

Chapter 13 , or reorganization bankruptcy, stops repossessions and foreclosures so you can save your home or investment. Like Chapter 7, it stops lawsuits and garnishments. Chapter 13 can help people keep assets that might be at risk in a Chapter 7. Will Filing for Bankruptcy Affect My Credit Score?

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Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

Student loans 81

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Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. Due to the CARES Act, lenders must allow this forbearance if borrowers meet the two conditions listed above.

Bankruptcy 52

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Sawin & Shea

JUNE 7, 2023

When a borrower applies for a loan or credit card, the lender will assess their creditworthiness by looking at their income, credit score, and debt-to-income ratio. If the lender is concerned about the borrower’s ability to repay the debt, they may require a co-signer. Considering Filing for Bankruptcy?

Chapter 13 bankruptcy 52

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Sawin & Shea

FEBRUARY 28, 2024

A variety of factors determine if 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. If you fail to repay an unsecured personal loan, the lender cannot repossess your assets.

Personal loans 52

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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. Since Chapter 13 bankruptcies involve fulfilling your financial obligations, they impact your credit less severely than Chapter 7 bankruptcies.

Bankruptcy 52

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Albuquerque Law

MARCH 11, 2021

This file should generally include: A copy of your bankruptcy filing. Copies of the documents in your bankruptcy petition. A copy of the repayment plan, if you filed Chapter 13 bankruptcy. This is common when individuals apply for loans or mortgages after bankruptcy. A comprehensive list of the creditors.

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Sawin & Shea

APRIL 26, 2023

Even after a law was passed in 2018 to prohibit creditors from reporting liens to credit bureaus , lenders can still search for judgments using public records, making it harder to get a job or a loan. If that’s not possible for you, another option is to avoid it through Chapter 7 or Chapter 13 bankruptcy court.

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Credit Corp

JANUARY 24, 2024

While there is no minimum requirement, most lenders prefer a credit score of 620 or above. While VA loans are typically easier to get approval for than conventional loans, private lenders still have certain requirements you must meet. VA lenders generally look for a minimum credit score of 620.

Chapter 13 bankruptcy 52

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Sawin & Shea

MARCH 6, 2024

You still owe everything you owed before– you just have a new lender to repay. Pros & Cons of Bankruptcy Bankruptcy, like other methods of debt management, has its benefits and drawbacks. Chapter 13 bankruptcy involves reorganizing debts into a 3-to-5-year repayment plan managed by the bankruptcy court.

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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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Sawin & Shea

MARCH 13, 2024

Reaffirming Debt in Chapter 13 Bankruptcy Chapter 13 bankruptcy involves consolidating your different forms of debt into a three-to-five-year repayment plan. There is a Chapter 13 Plan that controls how various debts are treated. Next, the judge will assign a bankruptcy trustee to your case.

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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. With Chapter 13, you’re making good on some or all your debt.

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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. Does Bankruptcy Clear Child Support?

Bankruptcy 52

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Credit Corp

JUNE 14, 2023

Lenders don’t necessarily continue to report activity for the entire limit. Pro tip: If you can’t pay your mortgage due to financial hardship, contact your lender as soon as possible. Hard inquiries occur when you apply for credit, like a new credit card, and your potential lender is evaluating your application.

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