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

When filing for Chapter 13 bankruptcy, your home’s mortgage payments will be restructured into your repayment plan, and creditors will not be able to repossess your home or take legal action against you thanks to the bankruptcy automatic stay. Secured debts refer to debts with collateral, such as a home or car.

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Sawin & Shea

JULY 22, 2020

courts have nicknamed Chapter 13 bankruptcy the “wage earner’s plan.”. What Is A Chapter 13 Repayment Plan? Chapter 13 is a personal reorganization bankruptcy. In a Chapter 13 you do not have to repay most debts in full. How Long Does A Chapter 13 Bankruptcy Plan Take? In fact, the U.S.

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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

JANUARY 25, 2022

While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13.

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Sawin & Shea

JULY 15, 2020

A Chapter 13 can help you get caught up on houses and cars, help you hang onto property that might be taken and liquidated in a Chapter 7 case, and help people with debts that are not eligible for a Chapter 7 bankruptcy for one reason or another. What Am I Obligated to Pay in My Chapter 13 Plan?

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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

MARCH 9, 2022

Before filing for bankruptcy, you need to consider your unique circumstances as well as different factors indicating whether bankruptcy is right for you. Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral.

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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

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

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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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Roths Child Law

DECEMBER 15, 2021

One option that you have is to file for bankruptcy. This gives you the chance to take care of your debts and start fresh. If you file a Chapter 7 bankruptcy, your non-exempt debts are liquidated so creditors can receive some payment for your accounts. Credit cards are one of the more common unsecured debts.

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Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. Who Is Eligible for Chapter 7 Bankruptcy?

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Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Keep in mind that waiting periods are only required if a previous debt was discharged. Filing Successive Chapter 7 Bankruptcy Cases.

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Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Keep in mind that waiting periods are only required if a previous debt was discharged. Filing Successive Chapter 7 Bankruptcy Cases.

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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. Bankruptcy can give you a fresh start. Still, others delay the process in an attempt to “buy time.”

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Sawin & Shea

FEBRUARY 23, 2022

There are a lot of reasons why a Chapter 13 might be the best choice for a person. However, many people who file for Chapter 13 Bankruptcy do so either because they don’t qualify for a Chapter 7 Bankruptcy or because they want to keep their house from being foreclosed upon and their car from being repossessed.

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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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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. Alimony payments.

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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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Sawin & Shea

JULY 12, 2023

Once you’ve filed your bankruptcy petition, creditors will no longer be able to take any action to collect debts against you. They’ll be unable to garnish your wages, foreclose on your home, and repossess your belongings. Additionally, the bankruptcy court will assign a trustee for your case.

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Sawin & Shea

OCTOBER 11, 2023

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

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Sawin & Shea

JANUARY 11, 2024

(Each type of bankruptcy is named after the chapter of the code that describes it.) There are some key differences between these two types of bankruptcy.

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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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Debt RR

DECEMBER 13, 2019

These unsecured debts come in the form of payments for goods and services already received, royalties, commissions, or salaries. When a business starts skipping payments for these basic operational debts, it’s a major red flag that it’s in financial trouble. How Businesses Restructure Debt. Indenture Agreement Violations.

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