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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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

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys.

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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

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Unlike unsecured personal loans, secured loans involve some form of collateral that the lender can repossess if the borrower fails to make payments. Repossession deficiency claims.

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Roths Child Law

AUGUST 14, 2023

Although discharging your student loans through bankruptcy is typically not an option, you may still be able to discharge credit card debt, medical expenses, late utility bills and other unsecured debts. For many people, Chapter 7 bankruptcy is frequently regarded as their best choice.

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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. Briefly, unsecured debts are not backed by any collateral. Credit card and medical debt are examples of unsecured debt.

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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

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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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

MAY 2, 2024

One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options. When You Have Too Much Debt to Handle Sometimes debt can pile up to the point where making even minimum payments feels impossible with your current income.

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Sawin & Shea

AUGUST 24, 2022

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? Chapter 7 bankruptcy liquidates your assets in order to discharge unsecured debts, such as medical bills and credit card debt.

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Roths Child Law

JUNE 17, 2021

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. Bankruptcy Court conditions its decision about whether to let a debtor file Chapter 7 bankruptcy on whether they pass their means test.

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Debt Free Colorado

JANUARY 20, 2024

Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged. That means the debtor is no longer legally obligated to repay these debts. Medical bills are typically considered unsecured debts.

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Roths Child Law

JULY 17, 2023

After all, they have probably endured aggressive collection efforts for months at the point that they file for bankruptcy and may feel anxious every time they answer the phone or go to the mailbox, to describe their situation mildly.

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Sawin & Shea

SEPTEMBER 6, 2023

While both are good options to stop foreclosure (or postpone), in this blog we’ll focus on Chapter 13. Unlike Chapter 7 bankruptcy, Chapter 13 does not require the filer to liquidate all their assets (including their home) to pay off creditors. What to Do to Stop Foreclosure?

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Sawin & Shea

AUGUST 23, 2023

Bankruptcy Explained Bankruptcy is a powerful legal process that can help individuals or businesses that are overwhelmed by debt get a fresh start and a path to rebuild. Chapter 7 is also known as the “liquidation bankruptcy” because it allows individuals to liquidate all non-exempt assets to help pay off their debt.

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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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Roths Child Law

MAY 13, 2024

Although there are exceptions to this general rule, Chapter 7 might not be the best option for those concerned with foreclosure, although Chapter 13 could potentially provide a more viable solution. However, it does not automatically provide a means to prevent foreclosure in the long term.

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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

MAY 8, 2024

However, dealing with financial hardships like bankruptcy can make that dream seem out of reach. But, Can You Buy a House After Chapter 7 with a Co-Signer? If you’ve gone through a Chapter 7 bankruptcy , you may be wondering if homeownership is still possible for you, especially if your credit has taken a major hit.

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Sawin & Shea

AUGUST 2, 2023

Filing for Chapter 7 bankruptcy centers on liquidating assets, while Chapter 13 bankruptcy focuses on reorganization. Unsecured debt includes things like credit card debt, medical debt, and personal loans.

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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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Sawin & Shea

JANUARY 4, 2024

To receive the discharge, you must prove that you qualify in three ways: You must demonstrate that the situation preventing you from honoring your Chapter 13 repayment plan is beyond your control and you should not “ be justly held accountable.” A student loan is an example of a nondischargeable debt under federal law.

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Sawin & Shea

MARCH 13, 2024

It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor. Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars.

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Direct Recovery

AUGUST 27, 2021

But at the end of the day, the numbers show that bankruptcy is way more common here in the Golden State than anywhere else in the country. Chapter 7 Bankruptcy Rates in California. Chapter 7 bankruptcy deals exclusively with unsecured debt. Chapter 11 Bankruptcy Rates in California.

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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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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. Collection agency bills.

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Sawin & Shea

NOVEMBER 1, 2023

Simply put, yes, you can file bankruptcy on your medical bills. Your medical bills are considered “unsecured debts” which means there is no property that can be taken from you under contract as a result of not paying your medical bills — and most unsecured debts, like medical bills, are eligible for bankruptcy.

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Sawin & Shea

NOVEMBER 17, 2021

How Are Utility Bills Handled in Chapter 7 Bankruptcy? In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans.

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Sawin & Shea

NOVEMBER 17, 2021

How Are Utility Bills Handled in Chapter 7 Bankruptcy? In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans.

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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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Roths Child Law

JANUARY 13, 2022

With Chapter 13 bankruptcy, you’ll be able to repay your debts within 3 to 5 years. Chapter 13 bankruptcy takes more time than Chapter 7 bankruptcy, but it will let you keep everything you own. The Chapter you choose must be based not only on your preference but also on your eligibility.

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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. How Debt Discharge Works. The type of bankruptcy you file will determine how your debts are handled. Debts That Can Be Eliminated.

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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. How does the court divide debts?

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Roths Child Law

APRIL 6, 2023

If you earn a decent, steady paycheck but you’re still struggling to pay your debts on time, it may be worth considering filing for bankruptcy. Bankruptcy Code. This opportunity will allow you to benefit from the protections of the automatic stay and the issuance of a discharge at the end of the bankruptcy process.

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