Sawin & Shea

AUGUST 24, 2022

What Is Chapter 13 Bankruptcy? 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? If you’re eligible to file under Chapter 7 and only have unsecured debts, this may be your best course of action.

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Sawin & Shea

MAY 19, 2021

If you are thinking of filing for Chapter 7 or Chapter 13 bankruptcy, or if you have already filed, you may be concerned about how long the bankruptcy will stay on your credit report. The situation is more complicated with Chapter 13 bankruptcy. We are here to help.

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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

APRIL 26, 2023

A judgment lien against you can have a variety of distressing and negative consequences. Read on to learn everything you need to know about judgment liens in Indiana, including how they work and how to avoid them. What Is a Judgment Lien? Judgment Liens in the Hoosier State In Indiana, judgment liens last for 10 years.

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Sawin & Shea

JUNE 16, 2021

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. Chapter 7 bankruptcy: In this type of bankruptcy, your non-exempt assets (if any) have been liquidated to pay off a percentage of your debts. This is not true. We are here to help.

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Sawin & Shea

AUGUST 25, 2021

However, the requirements for Chapter 7 and Chapter 13 Bankruptcy are different, so we’ll discuss each of them separately. In Chapter 7 Bankruptcy , you file papers with the Bankruptcy Court asking for immediate protection from your creditors and ultimately for an elimination (discharge) of most debts.

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Sawin & Shea

OCTOBER 19, 2022

Differences between Chapter 7 and Chapter 13 Bankruptcies. With Chapter 7 bankruptcy , you may get a car loan upon receipt of your discharge notice, which can take several months. Sawin & Shea, LLC can guide you through the process of buying a car post-bankruptcy.

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Sawin & Shea

APRIL 13, 2021

Chapter 7 Bankruptcy. If you file for Chapter 7 bankruptcy, you may be able to stay in your house for a little while longer before you are foreclosed on. If your house sells after you have safely declared Chapter 7 bankruptcy, you can keep a portion of your equity rather than having it go to your creditors.

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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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Debt Free Colorado

JANUARY 3, 2020

Generally, “no new license shall be issued to such person unless and until such judgment is satisfied or vacated or execution therein stayed and proof of financial responsibility given.” the bankruptcy eliminates the requirement that you pay off the debt.

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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. Source: site. A panel of the U.S. The CRA took no further steps to verify the debt at that time.

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Sawin & Shea

DECEMBER 8, 2021

Certain debts can be discharged entirely when filing Chapter 7 bankruptcy, but not everyone is eligible for Chapter 7 bankruptcy. Some people have too high of an income or have assets that require making monthly payments through filing Chapter 13 bankruptcy. .

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Sawin & Shea

MAY 2, 2024

Enter Sawin & Shea, LLC – a firm with over 50 years of combined experience in bankruptcy services, dedicated to providing compassionate and non-judgmental representation to individuals and families in need. Both secured and unsecured debts can typically be discharged in bankruptcy.

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Sawin & Shea

SEPTEMBER 28, 2022

Will my bankruptcy show up on a pre-employment check? Chapter 7 bankruptcies remain on your credit report for 10 years and Chapter 13 bankruptcies remain for 7 years. You can read about this in detail in our article, How Long Does a Bankruptcy Stay on Your Credit Report?

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Sawin & Shea

NOVEMBER 15, 2022

If a potential employer runs a background check, they’ll discover your bankruptcy. 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.

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Sawin & Shea

AUGUST 30, 2023

Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. In Chapter 7 Bankruptcy , (sometimes misleadingly described as liquidation bankruptcy), certain debts are discharged within 3-4 months. Civil court judgments (not counting anything that was based on fraud).

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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

If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home. Either way, you should speak with an experienced debt relief attorney about strategies for dealing with unsecured creditors.

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Roths Child Law

JANUARY 31, 2023

It is important that you understand how these types of bankruptcies differ. If you are seeking to discharge unsecured debts like medical debts, credit card debts and unsecured loans, then you need to file for Chapter 7 bankruptcy. Bankruptcy can give you a fresh start.

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Roths Child Law

DECEMBER 20, 2022

However, it is important to understand that other valid reasons may exist for firing or reprimanding you (such as dishonesty, incompetence or gross misconduct) and you cannot use bankruptcy to protect you from employer action based on these reasons. . Sometimes, your employer may not know if you are filing for Chapter 7 bankruptcy.

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Credit Corp

MAY 1, 2024

File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts. In a Chapter 7 bankruptcy, also known as a liquidation bankruptcy, a trustee sells some of your assets and uses the proceeds to repay as much of your debt as possible.

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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. What happens during bankruptcy?

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PBWT

APRIL 14, 2021

Morrison filed for chapter 7 bankruptcy in August 2018, but the bankruptcy court permitted the state-court action to go forward while staying the execution of any judgment. The plaintiffs appealed the judgments on the fraudulent transfer claims.

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Troutman Sanders

MARCH 26, 2021

The plaintiff, an individual consumer, filed a chapter 7 bankruptcy petition, including in his schedules a debt for past-due rent for a former apartment. The bankruptcy was a matter of public record and was listed on his credit reports. 20-1524, 2021 U.S. LEXIS 7126 (7th Cir.

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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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Troutman Sanders

FEBRUARY 22, 2023

The couple filed for chapter 7 bankruptcy protection, in part to discharge the judgment debt. The buyer filed an adversary proceeding contesting the dischargeabilty of the judgment. Second, the judgment is a ‘debt.’ For these reasons, the Court affirmed the Ninth Circuit’s judgment against the debtor.

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Sawin & Shea

APRIL 19, 2023

A common question is, “Does bankruptcy cover payday loans?” There are two kinds of bankruptcy, both of which can be helpful if your payday loan debt has spiraled out of control. Chapter 7 bankruptcy , also called liquidation bankruptcy, allows you to discharge all or most of your debt, including payday loan debt.

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Jimerson Firm

MAY 30, 2024

In Parker , the Eleventh Circuit Court of Appeals succinctly discussed this principle: Generally speaking, a pre-petition cause of action is the property of the Chapter 7 bankruptcy estate, and only the trustee in bankruptcy has standing to pursue it. Wendy’s Int’l, Inc. , 3d 1268, 1272 (11th Cir. 3d 1289, 1292 (11th Cir.

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Debt Free Colorado

MARCH 3, 2023

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge.

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Credit Corp

JUNE 14, 2023

Bankruptcy: Seven or 10 Years Bankruptcies show up in the public records section of credit reports. Chapter 7 bankruptcies may be reported for 10 years from the filing date. Discharged Chapter 13 bankruptcies are generally removed after seven years from the filing date.

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Sawin & Shea

MARCH 2, 2022

The actual bankruptcy judge presiding over your case will not be present at this meeting, which helps preserve their neutrality in making a judgment about your case if there is cause for them to hear something out of the ordinary. Most Debtors in bankruptcy never have a hearing in front of the actual judge.

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Collection Industry News

SEPTEMBER 23, 2020

Default Judgments in Debt Collection Cases. The survey data showed that more than 70% of debt collection suits ended in default judgments. In Alabama, if a judgment is entered against you, the creditor who got the judgment can do several things as far as trying to collect on the judgment. • Filing bankruptcy.

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Consumer Financial Services Law

SEPTEMBER 27, 2016

In Presswood , the Chapter 7 debtor, a sole proprietor, received two prepetition faxes which he alleged violated the TCPA. Three years after filing a Chapter 7 bankruptcy, the debtor filed a class action for violations of the TCPA. This case is reminiscent of the spate of recent offer of judgment cases.

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Sawin & Shea

SEPTEMBER 15, 2021

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. You may also be interested in reading our blog: Will I Lose My Social Security Benefits if I File For Bankruptcy? What’s the catch? Well, you can’t have committed fraud.

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Sawin & Shea

SEPTEMBER 15, 2021

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. You may also be interested in reading our blog: Will I Lose My Social Security Benefits if I File For Bankruptcy? What’s the catch? Well, you can’t have committed fraud.

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ABI

JANUARY 12, 2022

a bankruptcy court in Kentucky held that student loans will not be discharged when the debtor earns “well above the poverty level,” when the debtor’s circumstances “are not likely to persist,” and when the debtor has not made any good faith effort to repay the loans. [2] United States Dep’t of Educ. , 1] Hull v.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . A court order for a stay pending appeal temporarily suspends the effect of a judgment while the decision is pending on appeal. [1] 5] Five years later, the Debtor commenced a voluntary chapter 7 bankruptcy proceeding. [6] John’s University School of Law.

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