Sawin & Shea

DECEMBER 28, 2023

Filing for Chapter 13 bankruptcy can provide much-needed relief if you are overwhelmed with debt and struggling to keep up with payments. Under Chapter 13, you repay a portion or all of your debt, allowing you to keep assets like your home or car. What Is Chapter 13 Bankruptcy?

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Sawin & Shea

JANUARY 4, 2024

Filing for Chapter 13 bankruptcy is a positive step during a challenging time in your life. Instead of fighting with your creditors, you work with them proactively in the bankruptcy process to resolve your debts. In some cases, you may be eligible for a Bankruptcy Hardship Discharge.

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Sawin & Shea

MARCH 9, 2022

Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts.

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Sawin & Shea

JULY 22, 2020

It’s a smart choice to file for Chapter 13 bankruptcy. Your bankruptcy plan will allow you to catch up on payments and settle your debts while giving you a chance to keep your home treasured belongings. If you have a job but you’re struggling to make your payments every month, Chapter 13 can help.

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Roths Child Law

APRIL 6, 2023

If you are simply struggling to pay your mortgage but are not yet behind on your payment schedule by much, negotiating a loan modification may be a better option. However, if you’re struggling with multiple debts, Chapter 13 bankruptcy could be a great opportunity.

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Debt Free Colorado

DECEMBER 23, 2024

Understanding what debts bankruptcy can eliminate is important. This where knowing Colorado unsecured debt examples can be helpful. Unsecured debt is a type of debt that is not backed by collateral. In this article, we will explore the types of unsecured debts that bankruptcy can erase.

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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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Sawin & Shea

OCTOBER 27, 2021

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts? Bankruptcy Code.

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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. Chapter 7 liquidates assets and discharges qualified debts.

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Sawin & Shea

JANUARY 25, 2022

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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Sawin & Shea

NOVEMBER 15, 2023

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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Sawin & Shea

JANUARY 18, 2023

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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Credit Corp

MAY 3, 2023

In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy? What Is Chapter 7 Bankruptcy? What Is Chapter 13 Bankruptcy? Should You File for Bankruptcy? What Is Chapter 13 Bankruptcy?

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Debt Free Colorado

FEBRUARY 24, 2025

If their income is too high, they may have to consider other options like Chapter 13. Most unsecured debts, including credit cards, can be erased through Chapter 7. The process takes a few months, and once complete, you are no longer responsible for repaying discharged debts.

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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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Roths Child Law

AUGUST 14, 2023

Student loans are one of the primary ways graduates build up debt. College students are often also targets of credit card companies, which can lead to all kinds of debts. Graduates may have received grants and awards to help pay for their education, but many have student loans hanging over their heads.

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Sawin & Shea

JULY 28, 2021

Bankruptcy isn’t rare in the Hoosier state; Indiana has the 7th highest percentage of bankruptcies in the United States, based on population: 22,748 in 2019, or 3.38 It simply means that any rent that is owed from before you filed bankruptcy will be discharged. Payday” type loans. These are called unscheduled debts.).

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Sawin & Shea

NOVEMBER 1, 2023

However, while bankruptcy can help, it’s important to understand how the process works, especially concerning your medical debt. At Sawin & Shea, our team of Chapter 7 and Chapter 13 bankruptcy lawyers is here to help. Simply put, yes, you can file bankruptcy on your medical bills.

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Roths Child Law

MAY 13, 2024

Although there are exceptions to this general rule, Chapter 7 might not be the best option for those concerned with foreclosure, although Chapter 13 could potentially provide a more viable solution. Since Chapter 7 does not allow for the restructuring of debts, it provides no mechanism to catch up on arrears.

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Sawin & Shea

NOVEMBER 17, 2021

In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans. All of your past-due utility bills up to the point you filed will be included in the bankruptcy.

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Sawin & Shea

NOVEMBER 17, 2021

In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans. All of your past-due utility bills up to the point you filed will be included in the bankruptcy.

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Sawin & Shea

JANUARY 12, 2022

In Chapter 13 Bankruptcy: Chapter 13 bankruptcies work a little differently. Instead of discharging most of your debt and using your personal property to pay off creditors, a reorganization plan is filed to dela with the debt. Student Loans. Student loans can be particularly challenging.

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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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Debt Free Colorado

JANUARY 20, 2024

How Does Chapter 7 and 13 Bankruptcy Affect My Medical Bills? Chapter 7 and Chapter 13 bankruptcies can have different effects on medical bills. Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged.

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Debt Free Colorado

NOVEMBER 28, 2024

Quick Summary: Bankruptcy is a legal process that offers relief from overwhelming debt for individuals and businesses. A bankruptcy attorney assists clients in understanding the complexities of this process. Certain debts—such as credit card debt, medical bills, and personal loans—can be discharged.

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Sawin & Shea

AUGUST 30, 2023

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.

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Roths Child Law

DECEMBER 15, 2021

If you file a Chapter 7 bankruptcy, your non-exempt debts are liquidated so creditors can receive some payment for your accounts. If you file a Chapter 13 bankruptcy, you’ll have to make regular payments to the bankruptcy trustee to pay off a specific portion of your debts.

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Sawin & Shea

MAY 2, 2024

One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options. When You Have Too Much Debt to Handle Sometimes debt can pile up to the point where making even minimum payments feels impossible with your current income.

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Sawin & Shea

OCTOBER 27, 2021

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts? Bankruptcy Code.

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Roths Child Law

JANUARY 31, 2023

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.

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Sawin & Shea

APRIL 12, 2023

However, there are other ways to pay back family and friends that the courts allow and won’t negatively impact the family member or friend who has loaned you money. What is the Difference Between Chapter 7 and Chapter 13? Chapter 7 looks at assets that you owned at the time you filed. Who Is an Insider?

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Sawin & Shea

SEPTEMBER 29, 2021

This discharge stops any future collection of dischargeable debts. Credit cards, in almost every case, are dischargeable debts. In Chapter 7 bankruptcy, most or even all of your unsecured debt will get discharged, including your credit card debt. The plans typically last around 3 to 5 years.

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Sawin & Shea

SEPTEMBER 29, 2021

This discharge stops any future collection of dischargeable debts. Credit cards, in almost every case, are dischargeable debts. In Chapter 7 bankruptcy, most or even all of your unsecured debt will get discharged, including your credit card debt. The plans typically last around 3 to 5 years.

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Sawin & Shea

JUNE 7, 2023

Co-signers are beneficial for those seeking to obtain loans and credit cards. 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. Plus, being a co-signer can help a debtor build credit.

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Sawin & Shea

AUGUST 23, 2023

Before you decide if bankruptcy is the best option for you, it’s important to understand the two different types of bankruptcy that are available to individuals: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Most Debtors, however keep everything they have. Where Do I Go From Here?

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Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Briefly, unsecured debts are not backed by any collateral. Credit card and medical debt are examples of unsecured debt.

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