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

Before filing for bankruptcy, you need to consider your unique circumstances as well as different factors indicating whether bankruptcy is right for you. Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral.

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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

However, if you’re struggling with multiple debts, Chapter 13 bankruptcy could be a great opportunity. Speaking with an experienced legal professional can help to ensure that you’re able to make informed choices about this and other debt-relief options as you move forward.

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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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Sawin & Shea

AUGUST 31, 2022

However, these negative impacts are not inevitable; you do have the option to take steps to either eliminate your medical debt or to make manageable payments towards it by filing for Chapter 7 or Chapter 13 bankruptcy.

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

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Sawin & Shea

DECEMBER 7, 2022

If you’re not sure whether some of your purchases are considered “luxury,” consult with a Chapter 7 or Chapter 13 bankruptcy attorney. If you make a luxury purchase of over $600 within 90 days of filing for bankruptcy, creditors will request for the bankruptcy court to not discharge the debt.

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Roths Child Law

MARCH 2, 2023

However, the rules are a bit different for bankruptcy. When someone files for a Chapter 7 bankruptcy that leads to a discharge of their unsecured debts relatively quickly, the credit bureaus will report their discharge for 10 years.

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Sawin & Shea

OCTOBER 27, 2021

Although many view bankruptcy as inherently negative, it can have a positive effect on your ability to rebuild your credit. 62% of all bankruptcies include significant medical debt despite the fact that medical bankruptcy is not a term listed in the U.S. Bankruptcy Code. Contact Indiana Bankruptcy Lawyers.

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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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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

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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Sawin & Shea

MAY 12, 2021

Medical bankruptcy is a smart way of using personal bankruptcy to target medical bills. Generally speaking, you can use either Chapter 7 or Chapter 13 bankruptcy to accomplish the goal of erasing medical debt.

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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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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 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

AUGUST 14, 2023

Here’s what you should know: Should you file for Chapter 7 or Chapter 11 bankruptcy? You might be able to apply for Chapter 7 or Chapter 13 bankruptcy. For many people, Chapter 7 bankruptcy is frequently regarded as their best choice. This can make it easier to pay your loans.

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Mich Bankruptcy Blog

JULY 8, 2020

A Chapter 13 bankruptcy plan requires a debtor to satisfy unsecured debts by paying all “projected disposable income” to unsecured creditors over a five-year period. 1] Read More › Tags: 6th Circuit Court of Appeals , Chapter 13. In a recent case before the U.S.

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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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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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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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Sawin & Shea

SEPTEMBER 6, 2023

When facing dire financial circumstances, many people ask, “How can I pay off my overwhelming debt and also save my house from foreclosure?” These include declaring Chapter 7 or Chapter 13 bankruptcy. While both are good options to stop foreclosure (or postpone), in this blog we’ll focus on Chapter 13.

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Direct Recovery

AUGUST 27, 2021

But at the end of the day, the numbers show that bankruptcy is way more common here in the Golden State than anywhere else in the country. Chapter 7 Bankruptcy Rates in California. Chapter 7 bankruptcy deals exclusively with unsecured debt. This is the most common chapter for individuals.

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PBWT

SEPTEMBER 30, 2021

21, 2021), Judge Seibel reversed the decision of the bankruptcy court and clarified the independent obligation of the Bankruptcy Court to ensure a Plan conforms to the necessary requirements set out by the Bankruptcy Code, irrespective of the parties’ conduct. The Trustee then filed a notice of appeal. ” Id.

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Debt Free Colorado

NOVEMBER 28, 2024

Bankruptcy is a legal process that provides individuals and businesses relief from overwhelming debt. In Colorado, as in other states, there are specific types of bankruptcy that cover different financial situations. The two most common types are Chapter 7 and Chapter 13 bankruptcy.

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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 per every 1,000 people.

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Sawin & Shea

OCTOBER 20, 2021

However, it can give you an opportunity to reorganize under the court’s protection and make plans on how to ultimately deal with the debts. Filing Again After Chapter 13 Bankruptcy. If you file a Chapter 13 bankruptcy first, the time limits will be less than if you had filed a Chapter 7 case first.

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Sawin & Shea

OCTOBER 20, 2021

However, it can give you an opportunity to reorganize under the court’s protection and make plans on how to ultimately deal with the debts. Filing Again After Chapter 13 Bankruptcy. If you file a Chapter 13 bankruptcy first, the time limits will be less than if you had filed a Chapter 7 case first.

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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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Debt Free Colorado

DECEMBER 30, 2023

Quick Summary: Bankruptcy can be a viable option amid economic challenges and advantageous for retirement savings with proper guidance. IRAs are generally protected in both Chapter 7 and Chapter 13 bankruptcies, offering security for retirement funds. Will I Preserve My 401(k) Plan in Bankruptcy?

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Roths Child Law

JULY 17, 2023

After all, they have probably endured aggressive collection efforts for months at the point that they file for bankruptcy and may feel anxious every time they answer the phone or go to the mailbox, to describe their situation mildly.

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