Sawin & Shea

NOVEMBER 15, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is a 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 debtor’s non-exempt assets.

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Fraser

JUNE 25, 2020

It is important for creditors and their advisors to carefully review “first day” motions in order to know how their rights may be affected, and take action as appropriate. A creditor may need to file an objection to requested first-day relief to protect its rights. He can be reached at (313) 965-9038 or jwalton@fraserlawfirm.com.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

Collection Industry News

DECEMBER 21, 2020

Consumers in Chapter 10 can file one or more plans, including (1) a “Residence” plan, which addresses mortgages on consumers’ principal residences; (2) a “Property” plan, which addresses debts secured by other property; and (3) a general repayment plan, which addresses unsecured debts, such as credit card, medical, and student loan debts.

Bankruptcy 40

Bankruptcy Chapter 7 bankruptcy Student Loans Student loans 40

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. Not all financial issues can be resolved through bankruptcy.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Sawin & Shea

JANUARY 25, 2022

In some cases, the assets or secured interest is something a creditor voluntarily agrees to in a lien; in other cases, the lien may be involuntary. Examples of Secured Debts. Common examples of secured debts include: Home loans Car loans Cash loans secured by other personal property Judicial Liens Tax Liens.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Debt RR

DECEMBER 13, 2019

Refinancing typically lowers monthly payments and interest rates in exchange for lengthening the timeframe of the loan. Some creditors will accept equity and/or other concessions in exchange for debt forgiveness. Regardless of how it’s restructured, creditors often choose this route to protect their investments. Noteholders.

Chapter 7 bankruptcy 42

Chapter 7 bankruptcy Bankruptcy Creditors Retail 42