Roths Child Law

DECEMBER 16, 2020

If your debt has reached a crisis level, you may want to consider filing for bankruptcy. Chapter 7 bankruptcy may help to clear away much of the credit card and student debt that you took on while you were at school.

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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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Sawin & Shea

APRIL 13, 2021

If you don’t have a federally connected mortgage (although almost 70% of homeowners do have mortgages somehow supported by the federal government), you weren’t able to take advantage of the moratorium in the first place, so you are probably facing pressure from your lender and are concerned about being foreclosed on. Chapter 7 Bankruptcy.

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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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Sawin & Shea

JANUARY 25, 2024

Many people are also struggling to find employment and housing, so they may need to move to another location during bankruptcy. Can you move out of state while in Chapter 7 bankruptcy ? Can I File for Bankruptcy in Another State? The federal government designed residency requirements to prevent abuse of the system.

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Roths Child Law

MARCH 2, 2023

The type of bankruptcy filed determines the reporting rules In general, delinquent counts and other blemishes on someone's credit report will only stay on that report for seven years. However, the rules are a bit different for bankruptcy. Technically, a Chapter 13 bankruptcy could also drag down a credit score for roughly a decade.

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Sawin & Shea

MARCH 9, 2021

Take a moment to think about what happens if you simply use your government stimulus check to make a one-time payment toward your debt. Instead, think about what would happen if you used your stimulus check to fund the costs of filing for Chapter 7 bankruptcy. Here’s Why You Need a Bankruptcy Attorney NOW.

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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. But many people don’t know that there is a test to qualify for Indiana Chapter 7 bankruptcy. What is the Indiana Bankruptcy Means Test?

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Sawin & Shea

JULY 19, 2023

Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt. Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors. Chapter 7 bankruptcy also stops lawsuits and wage garnishments.

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Debt Free Colorado

JANUARY 20, 2024

You can also seek guidance from credit counseling agencies, medical billing advocates, and government assistance. Are Medical Bills Dischargeable Through Bankruptcy? Bankruptcy can discharge medical bills. Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged.

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Sawin & Shea

NOVEMBER 15, 2022

And if they search your credit history, they’ll also likely spot your bankruptcy filing. A Chapter 7 bankruptcy remains on your credit history for ten years, and a Chapter 13 bankruptcy will stay on your credit history for seven years. Public or government employers may not.

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Sawin & Shea

SEPTEMBER 28, 2022

If it is solely because of your bankruptcy, your employer is not allowed to: Terminate you Otherwise discriminate against you (such as by demotion). Can I be denied employment because of bankruptcy? Will my bankruptcy show up on a pre-employment check? Bankruptcy is not against the law.

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Troutman Sanders

JULY 19, 2021

Court of Appeals for the Second Circuit ruled that private student loans are not explicitly exempt from a debtor’s Chapter 7 bankruptcy discharge. In Homadian , the borrower, after graduating from Emerson College, filed for Chapter 7 bankruptcy in 2007 and obtained a discharge in 2009.

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Sawin & Shea

JULY 13, 2022

As a result, the majority of debtors who file for Chapter 7 bankruptcy do not get their college loans dismissed. How do bankruptcy courts handle private student loans, however? Are private student loans treated differently by bankruptcy courts? Common Reasons Private Loans May Be Discharged.

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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. The type of bankruptcy you file will determine how your debts are handled. In Chapter 7 Bankruptcy: While not guaranteed, most debts are often discharged when you file a Chapter 7 bankruptcy.

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Roths Child Law

DECEMBER 20, 2022

Bankruptcy and your current job. It is safe to note that you cannot lose your job by virtue of declaring bankruptcy. Your employer (private or government) cannot refer to your decision to file bankruptcy as the sole reason for terminating or changing your employment terms.

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Roths Child Law

JUNE 13, 2021

When people are considering Chapter 7 bankruptcy, one of their primary concerns is that they will have to give up things that they need and things that are very important to them. The bankruptcy court will divide their assets into exempt and non-exempt. Exempt assets are those that a person can keep.

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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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Albuquerque Law

OCTOBER 27, 2021

Bonuses from work are classified as supplemental income and could affect eligibility to file Chapter 7 bankruptcy. Timing: The timing of bankruptcy is always a critical factor. They can affect the actual process of bankruptcy.

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Sawin & Shea

AUGUST 4, 2021

Because a short sale is such a complicated process, you are advised to work with a bankruptcy attorney who understands the complexities of cases like this and who can protect you against a deficiency judgment or other liabilities that may pertain after the sale. What if you file for Chapter 7 bankruptcy?

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Debt Free Colorado

APRIL 9, 2020

This is fairly easy to accomplish with federal student loans, and because the federal government is working to waive interest on these loans, it won’t wind up costing you much in the long run. You should call your student loan servicers about forbearance, which will temporarily stop or reduce your payments.

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Credit Corp

JUNE 7, 2021

A Federal Housing Administration loan, or FHA loan, is insured by the federal government. The backing of the federal government makes FHA loans a bit easier to qualify for because they’re considered less risky for lenders. In some cases, you might also be able to get an FHA loan for a home before you complete a Chapter 13 plan.

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Sawin & Shea

JUNE 28, 2023

Do Not: Try to Transfer or Hide Assets If you’ve transferred any assets to another party before declaring bankruptcy, you’re not gaining any protection. If assets are transferred in anticipation of filing for bankruptcy, a trustee can recover those assets in a Chapter 7 bankruptcy since the transfer would rightfully be seen as fraudulent.

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Debt Free Colorado

MARCH 10, 2023

The following are some of the most common bankruptcy myths in Littleton, Colorado: Myth #1: Short sales and loan modifications are viable alternatives to bankruptcy. Some people hope to stay out of bankruptcy by selling their homes or requesting a loan modification. Myth #4: Everyone will be aware of your bankruptcy filing.

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Credit Corp

FEBRUARY 23, 2024

Type of Loan Chapter 7 Chapter 13 Conventional loan 4 years 2 years FHA loan 2 years 1 year USDA loan 3 years 1 year VA loan 2 years 1 year How Long After Chapter 7 Can I Buy a House? Also known as a “liquidation bankruptcy,” Chapter 7 involves selling nonexempt assets to discharge debts.

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Roths Child Law

JUNE 13, 2021

When people are considering Chapter 7 bankruptcy, one of their primary concerns is that they will have to give up things that they need and things that are very important to them. The bankruptcy court will divide their assets into exempt and non-exempt. Exempt assets are those that a person can keep.

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Sawin & Shea

OCTOBER 4, 2023

Mortgage lenders typically examine your credit reports, credit rating, and bankruptcy discharge details before making loan decisions. Can I Buy a House 2 Years After Bankruptcy? For Chapter 13 bankruptcy , you’ll need to wait at least four years after a court has dismissed it before applying for a mortgage.

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Sawin & Shea

MARCH 2, 2022

There are only a few things you’ll need to bring, but they’re essential to the meeting: Driver’s license or government-issued ID card Government issued social security card Any other documents requested. On the day of the meeting, dress professionally and not too casually, as if you’re attending a job interview.

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Sawin & Shea

MARCH 9, 2022

Will Bankruptcy Eliminate All of My Debts? When Should I Not File for Bankruptcy?

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Collection Industry News

MAY 18, 2021

The case arose from a consumer’s claim that, when he noticed his credit report still reflected a delinquent mortgage after he had discharged his debts in Chapter 7 bankruptcy, he notified the CRA of the inaccuracy.

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Sawin & Shea

SEPTEMBER 15, 2021

It would be reassuring to think that government agencies never make mistakes, but like all huge entities–sometimes they do. Like all debts in bankruptcy, an automatic stay is put into place upon filing (the creditors have to leave you alone) for at least a period of time. What’s the catch? Well, you can’t have committed fraud.

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Sawin & Shea

SEPTEMBER 15, 2021

It would be reassuring to think that government agencies never make mistakes, but like all huge entities–sometimes they do. Like all debts in bankruptcy, an automatic stay is put into place upon filing (the creditors have to leave you alone) for at least a period of time. What’s the catch? Well, you can’t have committed fraud.

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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.

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Sawin & Shea

JUNE 21, 2023

Unfortunately, not everyone filing Chapter 13 will complete the repayment process. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy.

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Fraser

JUNE 25, 2020

As chapter 11 bankruptcies continue to increase (many analysts are forecasting the “ wave ” of filings to grow), more businesses and individuals will be impacted by the fallout. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

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Debt Free Colorado

OCTOBER 12, 2023

The bankruptcy procedure operates by annulling the agreements between you and your creditors and governed by federal law, not Colorado state law. In Colorado, they choose which assets you are permitted to keep in your bankruptcy case. You can start over because of that.

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Debt RR

JANUARY 24, 2020

Businesses incur tax obligations until they formally file to dissolve the company with their local, state, and federal governments. Since dissolving a company is a government action, a company can close itself while there is still outstanding debt. This also ends any further payroll tax obligations.

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