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 24, 2022

You’ve likely heard about Chapter 7 and Chapter 13 bankruptcy — as they are the most common types and are available to individuals — but how do they differ? Chapter 7 bankruptcy liquidates your assets in order to discharge unsecured debts, such as medical bills and credit card debt.

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Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. Credit cards, in almost every case, are dischargeable debts.

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Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. Credit cards, in almost every case, are dischargeable debts.

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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.

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Sawin & Shea

NOVEMBER 15, 2023

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. What’s the Difference Between Chapter 7 and Chapter 13?

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Sawin & Shea

DECEMBER 7, 2022

Here’s what you need to know about getting through the holidays during bankruptcy. Don’t Accumulate Any More Debt. If you’re already in the middle of filing for bankruptcy, any new debt that you accumulate will not be discharged. This includes credit card debt, so try to avoid racking up a substantial balance this season.

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Debt Free Colorado

JUNE 18, 2024

You may be considering Chapter 7 bankruptcy. Consulting with a Chapter 7 bankruptcy attorney in Boulder, CO, can help determine if it is the right solution. Our blog will provide a general overview of Chapter 7 bankruptcy. Filing for Chapter 7 bankruptcy triggers an automatic stay.

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Sawin & Shea

JULY 28, 2021

If you file for Chapter 13 Bankruptcy in Indiana, you will still be obliged to pay something toward your debts; it’s just that you will be given a payment plan that reduces your unsecured debts based upon your ability to pay, that puts you on a manageable schedule, and that holds your creditors at bay while you work on making achievable payments.

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Titan Consulting

AUGUST 23, 2020

You must qualify to file for bankruptcy, and your income must meet an income means test. 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.

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Roths Child Law

AUGUST 14, 2023

When it comes to repaying credit card companies after graduation along with those student loans, a lot of graduates struggle to repay their debts. What is the best way to pay off all of your credit card debt after college? One common solution to debt is bankruptcy.

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Credit Corp

MAY 3, 2023

However, we’ve provided some basic answers below to the question, “What is the difference between Chapter 7, 11, and 13 when it comes to bankruptcy?” In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy?

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Sawin & Shea

JULY 27, 2022

So in many cases, running your credit card debt up is not worth it. To fully understand how this works, it helps to understand the basics of credit card debt when you are filing for bankruptcy, which we will dive into below. Understanding Credit Card Debt and Bankruptcy.

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Sawin & Shea

MARCH 9, 2021

Imagine that you have $25,000 worth of old debt you’ve been trying to pay off for years, but are making very little progress. This is a common scenario because the average American has $90,000 in total debt , about $20,000 of which is unsecured debt like medical bills and credit card debt.

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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

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.

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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?

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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 2, 2023

There are many reasons someone might file for bankruptcy. Some people may be overwhelmed with credit card debt, especially those who spend more than 20% of their annual net income on credit card bills, have maxed out limits on several cards, and/or can only afford to pay the minimum on credit card bills.

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Sawin & Shea

NOVEMBER 17, 2021

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt.

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Sawin & Shea

NOVEMBER 17, 2021

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt.

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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

JANUARY 12, 2022

They can help you throughout the entire process and even after the bankruptcy has ended when you are trying to get back on your feet. How Debt Discharge Works. The type of bankruptcy you file will determine how your debts are handled. When you file for bankruptcy, most unsecured debts will be eligible for discharge.

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Sawin & Shea

SEPTEMBER 6, 2023

While both are good options to stop foreclosure (or postpone), in this blog we’ll focus on Chapter 13. Unlike Chapter 7 bankruptcy, Chapter 13 does not require the filer to liquidate all their assets (including their home) to pay off creditors. What to Do to Stop Foreclosure?

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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.

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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 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.

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Roths Child Law

JULY 26, 2020

It can be helpful to learn more about the bankruptcy process and what happens if you need to move forward with this process. Chapter 7 bankruptcy is a popular option because it only takes a few months to complete. During the Chapter 7 process, there will be a discharge of certain balances.

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Sawin & Shea

AUGUST 30, 2023

It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. After taking a means test, you will file papers and a petition with the bankruptcy court. Court fines.

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Sawin & Shea

MARCH 13, 2024

It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor. Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars.

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.

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Debt Guru

AUGUST 30, 2021

Some professionals will helpfully walk you through a debt management program or counsel you about the best way to handle your debt, but scammers will take advantage of you unless you know what to look for. So, when should you seriously consider debt relief? Chapter 7 bankruptcy comes with some serious downsides.

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Sawin & Shea

APRIL 12, 2023

Filing for Chapter 7 bankruptcy is centered on liquidating assets while filing for Chapter 13 bankruptcy focuses on reorganization. Chapter 7 looks at assets that you owned at the time you filed. Unsecured debt includes things like credit card debt, medical debt, and personal loans.

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Sawin & Shea

MARCH 27, 2024

In this blog, we take a close look at ways Chapter 7 bankruptcy affects future or current employment. If you have additional questions, we encourage you to read our online articles about filing bankruptcy. What Is Chapter 7 Bankruptcy? Chapter 7 is often referred to as liquidation bankruptcy.

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