Debt Free Colorado

APRIL 9, 2020

So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. There are more tools for dealing with your mortgage than any other type of loan. Student Loans.

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Sawin & Shea

MARCH 15, 2022

When filing under Chapter 13, you’re required to pay unsecured creditors — meaning they can’t recover physical property as collateral — the liquidated value of your nonexempt property. The reason why most bankruptcy filers avoid cramdowns is that you’re required to pay back the loan within your Chapter 13 repayment plan.

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. 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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Debt Free Colorado

DECEMBER 9, 2021

Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Unsecured debt is debt without collateral.

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Debt Free Colorado

DECEMBER 23, 2024

Unsecured debt is a type of debt that is not backed by collateral. Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. These debts have no collateral, so creditors cannot take your property without going to court first. This means there is no property tied to it.

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Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. Student loans are also difficult but not impossible to discharge in bankruptcy.

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Sawin & Shea

OCTOBER 27, 2021

If you’re struggling with medical debts, we encourage you to contact medical bill lawyers to go over options to make your medical debt more manageable. 25% of debts in collections were credit card related, and 20% were student loan debts. Contact Indiana Bankruptcy Lawyers. Indiana’s Medical Debt.

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Sawin & Shea

OCTOBER 11, 2023

If a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay. A Special Note About Student Loan Debt Can student loans be discharged in bankruptcy?

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Debt Free Colorado

OCTOBER 12, 2023

The complicated procedure of filling out bankruptcy documents needs the assistance of Colorado bankruptcy lawyers , like the Law Office of Clark Daniel Dray. Two of the most typical collateralized loans are mortgages and auto loans. Cosigners for auto loans and joint cardholders are frequent codebtors.

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Debt Free Colorado

NOVEMBER 28, 2024

Certain debts—such as credit card debt, medical bills, and personal loans—can be discharged. Personal Loans: Unsecured personal loans from banks or credit unions are usually dischargeable. It includes those taken for personal needs without collateral. It can help smoothen the process for both client and lawyer.

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BN Lawyers

MARCH 23, 2020

These parties could foreclose or repossess the property securing the loans. A lender who provided a secured loan for your kitchen equipment would have a difficult time profitably foreclosing on those assets. Secured creditors can foreclose on their collateral if they are not paid and have special rights in a reorganization proceeding.

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Sawin & Shea

APRIL 10, 2024

For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC. 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.

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Debt Free Colorado

JANUARY 27, 2022

Another aspect is the increased accessibility of credit loans, which makes it simpler for Americans to end up spending more than they can afford. Rather than that, you will pay an amount equal to the value of the non-exempt property to your unsecured creditors (creditors whose debt is not covered by collateral). Don’t delay.

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Sawin & Shea

APRIL 24, 2024

To determine the best way to proceed, and whether Chapter 7 or Chapter 13 bankruptcy are right for you, you should meet with an experienced bankruptcy lawyer. A bankruptcy lawyer can help you create a strategy to protect your assets and ensure that your bankruptcy petition goes as smoothly as possible. Family members.

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Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable. Fortunately, you can obtain a secured card that includes collateral.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. For instance, it may permit the restructuring of debts due to “secured” creditors, or creditors who have an interest in assets like a mortgage or a car loan, but it typically won’t abolish those debts.

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Sawin & Shea

JULY 5, 2023

As a result, people who declare bankruptcy often will have a harder time with things like securing a loan or getting a credit card. Apply for a Secured Credit Card To obtain a secured credit card , you must first deposit collateral with the lender which makes it less risky for them.

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Collection Industry News

JUNE 17, 2024

This includes mortgages, home equity revolving debt, auto loans, credit cards, student loans and other consumer lending such as retail cards. Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. A lower interest rate would allow some borrowers to refinance high-interest loans.

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Collection Industry News

JANUARY 13, 2024

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% A lower interest rate would allow some borrowers to refinance high-interest loans.

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Collection Industry News

SEPTEMBER 29, 2020

Secured lenders, whose long-term secured loans typically flow through the restructuring, will also enjoy the additional benefit of more economically viable borrowers emerging from Subchapter V. Bregman , of Brutzkus Gubner’s offices in Denver and Los Angeles, is a bankruptcy and financial transactions lawyer.

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Better Credit Blog

JANUARY 11, 2022

To help you better understand how bankruptcy works, we reached out to financial lawyers who specialize in guiding their clients through the process. ” Finding The Right Lawyer. The first step to filing for bankruptcy is to find the right lawyer. According to Hoorfar, a lawyer can help you in the following ways.

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Sawin & Shea

JUNE 21, 2023

For example, if a person takes on additional loans or other forms of dischargeable debt right before filing, the court may suspect that the filer took on that debt in bad faith and never intended to pay it. Contact our seasoned lawyers today at 317-759-1483, or you can schedule a FREE consultation online here. Can I Refile?

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