Debt Free Colorado

DECEMBER 9, 2021

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. Chapter 7 (Liquidation). Advantages of Chapter 7 Bankruptcy. Disadvantages of Chapter 7 Bankruptcy.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Sawin & Shea

JANUARY 25, 2022

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. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Sawin & Shea

DECEMBER 7, 2022

When filing for Chapter 13 bankruptcy, your home’s mortgage payments will be restructured into your repayment plan, and creditors will not be able to repossess your home or take legal action against you thanks to the bankruptcy automatic stay. Secured debts refer to debts with collateral, such as a home or car.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 98

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. Secured debts refer to debts with collateral, like house payments and car payments. Will Bankruptcy Eliminate All of My Debts?

Chapter 13 bankruptcy 102

Chapter 13 bankruptcy Bankruptcy Unsecured Debt Collateral 102

Debt Free Colorado

FEBRUARY 24, 2025

Say goodbye to credit card stresssee if Chapter 7 bankruptcy is your solution. Credit card debt relief often seems unattainable, but there is a way forward. Chapter 7 bankruptcy can help clear debt and give you a fresh start. Will it erase all your debt, or are there limits?

Credit Card Debt 52

Credit Card Debt Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 52

Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Unsecured Creditor Debtor 52

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.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Unsecured Debt Chapter 13 bankruptcy 52

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.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. Additionally, filing for bankruptcy before a divorce can save you the headache of dealing with creditors in the future.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. Who Is Eligible for Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

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. However, it does not automatically provide a means to prevent foreclosure in the long term.

Foreclosure 52

Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Debt Free Colorado

JANUARY 20, 2024

Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged. That means the debtor is no longer legally obligated to repay these debts. Medical bills are typically considered unsecured debts.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Debt Free Colorado

NOVEMBER 28, 2024

The two most common types are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 Bankruptcy The liquidation process is managed by a trustee who sells non-exempt assets to pay creditors. This enables debtors to keep important items while addressing their debts. Many personal assets may be exempt.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

AUGUST 23, 2023

Bankruptcy Explained Bankruptcy is a powerful legal process that can help individuals or businesses that are overwhelmed by debt get a fresh start and a path to rebuild. Chapter 7 is also known as the “liquidation bankruptcy” because it allows individuals to liquidate all non-exempt assets to help pay off their debt.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

APRIL 17, 2024

In this blog, we’ll discuss how Chapter 13 usually affects credit scores, and we’ll give you actionable tips to begin rebuilding your credit. If you have additional questions regarding Chapter 13 or Chapter 7 bankruptcy, contact the attorneys at Sawin & Shea, LLC.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Sawin & Shea

JUNE 7, 2023

The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan. Cosigners and Chapter 7 Bankruptcy Chapter 7 is a form of bankruptcy that allows individuals to discharge most unsecured debts, such as credit card debt or medical bills, without having to repay them.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

Sawin & Shea

OCTOBER 11, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is all about liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy, the court appoints a trustee who is in charge of selling off (liquidating) a declarer’s non-exempt assets.

Bankruptcy 52

Bankruptcy Student loans Student Loans Chapter 7 bankruptcy 52

Debt Free Colorado

DECEMBER 30, 2023

Is My Individual Retirement Account (IRA) Fund Safe in Bankruptcy? In both Chapter 7 and Chapter 13 bankruptcies, IRA plans are generally afforded some level of protection , but the specifics can vary. Both options have implications, and it’s critical to consider the potential consequences before deciding.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debtor 52

Debt Free Colorado

MARCH 3, 2023

There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed. Chapter 7 is known as liquidation in bankruptcy legislation.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Debt RR

JANUARY 24, 2020

Secured debt: If a business receives a loan or other credit — like a credit card — because of specific assets or liquid collateral, they have secured debt. Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options.

Unsecured Debt 40

Unsecured Debt Creditors Chapter 7 bankruptcy Secured debt 40

Debt RR

DECEMBER 13, 2019

These unsecured debts come in the form of payments for goods and services already received, royalties, commissions, or salaries. When a business starts skipping payments for these basic operational debts, it’s a major red flag that it’s in financial trouble. How Businesses Restructure Debt. Indenture Agreement Violations.

Chapter 7 bankruptcy 42

Chapter 7 bankruptcy Bankruptcy Creditors Retail 42