Debt Free Colorado

FEBRUARY 24, 2025

A financial education course must be completed before final approval. Secured debt, like financed electronics or furniture, may require repayment or repossession. Complete a Debtor Education Course After your 341 Meeting, you must take a second financial education course. What Is Bankruptcy Chapter 7?

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Sawin & Shea

JANUARY 25, 2022

Secured debts are a type of debt backed by an asset that is used as collateral. To enforce secured debts, your creditors may repossess your car or other vehicles, they may foreclose on your mortgage, or levy against other property you have either pledged as collateral or that is subject to an involuntary lien.

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Sawin & Shea

APRIL 10, 2024

Reaffirming Debts in Chapter 7 Bankruptcy Chapter 7 bankruptcy allows you to discharge your unsecured accounts, but you cannot do away with a creditor’s a security interest, meaning a debt with collateral must either get paid or the collateral property surrendered. Will the Bankruptcy Trustee Sell All of My Personal Property?

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Consumer Financial Services Law

DECEMBER 29, 2016

Also, on an auto loan, there could be more than one missed payment, followed by a repossession, followed by a sale of the collateral and establishment of a deficiency balance. For example, on a credit card account, there could be several defaults, followed by charge-off, followed by additional payments.

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Collection Industry News

JUNE 10, 2024

Bar lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone can’t repay the loan. Upstart will work with borrowers with little or no credit, considering other factors like your education and work experience.

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Sawin & Shea

JUNE 21, 2023

Removal of your automatic stay protection : You’ll no longer have protection from your creditors, potentially leaving you vulnerable to wage garnishment, debt collection lawsuits, repossessions, and foreclosures. That said, filers cannot discharge all of their debts through Chapter 13.

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