Sawin & Shea

SEPTEMBER 27, 2023

In this article, we will walk you through Indiana debt collection laws and some of the many exemptions that help you keep your personal, real, or intangible assets when you file for a Chapter 7 in the State of Indiana. What is Chapter 7 Bankruptcy? It’s also the most common with over 229,000 filings in 2022 alone.

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Roths Child Law

APRIL 4, 2023

Bankruptcy Code reserves certain opportunities for those who are least likely to be able to repay their debts any time soon. Unlike Chapter 13 bankruptcy, which is available to most Americans, Chapter 7 bankruptcy is only available to low-income filers. However, this risk impacts very few Chapter 7 filers.

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Roths Child Law

NOVEMBER 16, 2022

People who have too much debt and can’t make payments often declare bankruptcy to help relieve them of their financial obligations. This often saves debtors from the long-term damages and consequences of unpaid debt. Here’s what you should know: What is Chapter 7 bankruptcy? What is Chapter 13 bankruptcy?

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Sawin & Shea

AUGUST 2, 2022

If you have any further questions and need help filing a Chapter 13 or Chapter 7 bankruptcy, don’t hesitate to reach out—the team at Sawin & Shea, LLC can assist you. For What Reasons Would Someone Convert From Chapter 13 to Chapter 7? It is also much harder to qualify for a Chapter 7 bankruptcy.

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Debt Free Colorado

DECEMBER 7, 2016

Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. 13 bankruptcy.

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Roths Child Law

JUNE 17, 2021

Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances. Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. What is the means test, and how does it work?

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Sawin & Shea

JUNE 2, 2021

Determining household size is an important measurement when facing bankruptcy. In fact, correctly determining household size can determine your eligibility for Chapter 7 bankruptcy. Most sections of the bankruptcy means test , which determines eligibility for Chapter 7 bankruptcy, focus on income and expenses.

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Sawin & Shea

AUGUST 9, 2022

When a person files for bankruptcy, they are typically seeking to ease their financial situation by getting rid of their debt. With a Chapter 13 bankruptcy, the debtor agrees to a payment plan to pay off their debt, which means they don’t have to surrender their property as collateral.

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Sawin & Shea

JANUARY 19, 2022

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. When you put the two together, it can cause debtors even more stress. In a Chapter 7 bankruptcy case, for example, you can only get income tax debt discharged. How to File Taxes After Bankruptcy.

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Roths Child Law

APRIL 30, 2021

Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts. Not passing the means test.

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Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

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Troutman Sanders

JANUARY 29, 2024

Bankruptcy Court for the Southern District of Florida disagreed and entered an award of sanctions in the total amount of $64,686.93 — including $10,000 for emotional distress and over $21,000 in punitive damages. As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition.

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Burr Forman

MAY 1, 2023

The Seventh Circuit held that the plaintiff, a Chapter 7 bankruptcy debtor, did not allege a concrete injury where he asserted that the defendant's collection letters "confused," "scared," and "alarmed" him.

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Sawin & Shea

JUNE 18, 2020

Many people keep control over their assets through the use of bankruptcy exemptions, which are special rules that allow people who are filing for a Chapter 7 bankruptcy to keep certain property if its value is less than the amount of the exemption. How Do I Protect My Home During Bankruptcy? This is rarely true.

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Sawin & Shea

DECEMBER 29, 2021

Debtors in Indiana can protect exempt property under both a Chapter 7 and a Chapter 13 bankruptcy. However, the property that is considered nonexempt will be handled differently depending on which chapter you file. Property in Chapter 7 Bankruptcy. Property in Chapter 13 Bankruptcy.

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Sawin & Shea

AUGUST 17, 2022

In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged.

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Sawin & Shea

DECEMBER 7, 2022

Those who are about to file for bankruptcy should also avoid accumulating substantial debt. Many debtors make the mistake of racking up more debt before filing because they figure that they’ll be able to discharge it. With Chapter 7 bankruptcy , you reaffirm your secured debts while discharging unsecured debts.

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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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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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Roths Child Law

JUNE 11, 2024

One option to get rid of this debt easily when the debtor can not pay it on their own is bankruptcy. Bankruptcy is a process that allows debtors to regain control of their finances, either by discharging eligible debts in a Chapter 7 bankruptcy or via a repayment/restructuring plan through Chapter 13.

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Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy.

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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

MARCH 28, 2023

If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, you need to be aware of the different components of the filing process, including the role of the bankruptcy trustee. What Does the Bankruptcy Trustee Investigate in Chapter 7?

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Jimerson Firm

MAY 30, 2024

The Bankruptcy Code provides debtors with a fresh start or an opportunity to reorganize their debts. In doing so, the Code requires all debtors to provide, under oath, a full disclosure of their assets and liabilities. Such property includes causes of action belonging to the debtor at the commencement of the bankruptcy case.

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Roths Child Law

JANUARY 13, 2022

However, you can get rid of the financial and emotional pressure of being a debtor by filing for Chapter 7 or Chapter 13 bankruptcy. Both Chapters can help you start anew and discharge your debts, but they work differently. With Chapter 13 bankruptcy, you’ll be able to repay your debts within 3 to 5 years.

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Sawin & Shea

FEBRUARY 22, 2023

And although there are benefits to obtaining this type of mortgage, debtors often have to pay increased interest and monthly payments. These increased payments can put financial pressure on debtors, leading them to fall behind on their housing payments. Adjustable rate mortgages have been on the rise in recent years.

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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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Collections Law

SEPTEMBER 10, 2021

Filing your proof of claim Once you receive notice that your debtor has declared bankruptcy, you should review the paperwork and your status as a listed creditor. You should also have the chance to attend a meeting with the debtor to ask questions regarding the bankruptcy filing. What about preference actions?

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Sawin & Shea

JANUARY 11, 2024

Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances.

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Roths Child Law

OCTOBER 27, 2023

Bankruptcy is a tool debtors can use to resolve their debt obligations. There are many bankruptcy options. One of the most common is Chapter 7 bankruptcy. This form of bankruptcy helps resolve large amounts of debt with very little consequences. How long must you wait?

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Sawin & Shea

MARCH 14, 2023

Indiana allows debtors to exempt assets when filing for bankruptcy up to a certain monetary amount, and that amount recently increased. In this blog, we’ll share the details regarding this exemption increase, the different exemption categories, and how these exemptions impact Chapter 7 and Chapter 13 bankruptcy.

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Troutman Sanders

FEBRUARY 22, 2023

In a unanimous decision, the Supreme Court held that § 523(a)(2)(A) of the Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor’s own culpability. As background, in 2005, the debtor and her then-boyfriend jointly purchased a house in San Francisco. In Bartenwerfer v.

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Roths Child Law

MAY 7, 2023

Bankruptcy is a legal process that allows individuals or businesses to eliminate or reorganize their debt. The goal of bankruptcy is to provide debtors with a fresh start financially while also helping to ensure that creditors receive some repayment for their debts. This stops virtually all collection actions from creditors.

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Debt Free Colorado

JANUARY 27, 2022

In Chapter 7 bankruptcy proceedings, the phrase “non-exempt property” refers to a debtor’s estate property that does not qualify for a statutory exemption. Additionally, creditors may take such property if a judgement against the debtor is entered. Non-Exempt Assets. second car or vehicle.

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Roths Child Law

AUGUST 2, 2024

What type of bankruptcy should you file for? Two common forms of bankruptcy include Chapter 7 and Chapter 13. Chapter 7 bankruptcy is a popular choice because it can resolve most forms of debt for people who have almost no means of resolving their debt by themselves.

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Mich Bankruptcy Blog

JANUARY 17, 2021

When an individual files a Chapter 7 bankruptcy case, the debtor’s non-exempt assets become property of the estate that is used to pay creditors. Read More › Tags: Chapter 7 , Eastern District of Michigan , Estate Planning.

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Albuquerque Law

MARCH 23, 2021

It will help to look at the facts versus the myths that often surround Chapter 7 bankruptcy. Fact: Chapter 7 does mean liquidating assets. It is true that filing Chapter 7 bankruptcy does mean you may have to liquidate some of your assets. But is this truly something you should worry about?

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