Collateral, Personal loans and Repossession - Creditor Collections Today

What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

OCTOBER 26, 2022

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation.

Personal loans

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How to Find the Right Online Personal Loan for You

Credit Corp

MARCH 7, 2021

Everything is online these days—including personal loans. Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. Personal loans were the fastest-growing category of consumer debt in 2019 , according to a survey from J.D.

Personal loans

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

Personal loans

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Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

JANUARY 18, 2023

Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. Unsecured debts are not backed by collateral, such as car payments and home mortgages. What is Chapter 7 Bankruptcy? What Happens After You File Chapter 7 Bankruptcy?

Chapter 7 bankruptcy

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

DECEMBER 9, 2021

Unsecured debt is debt without collateral. Collateral guarantees debt repayment. Occasionally, creditors may refuse to repossess little goods due to the expense of picking them up. A mortgage or car loan secures the lender’s interest in your house. personal loans, personal loans, delinquent income tax obligations,

Chapter 13 bankruptcy

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Can You Reaffirm a Debt in Chapter 13?

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. All of the original terms of the loan are back in force, including the creditor’s right to repossess the collateral if you get behind on payments in the future.

Chapter 7 bankruptcy

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

MAY 2, 2024

With a deep commitment to personalized service, we take the time to understand your unique circumstances and tailor our approach to your specific needs. Credit card balances, personal loans, and other unsecured debts can quickly spiral out of control, especially when combined with secured debts like a car loan or mortgage.

Bankruptcy

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Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

NOVEMBER 15, 2023

In broad terms, 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. That means that you must continue to pay on most secured debts to keep or hold onto the collateral. Unsecured Debt What is unsecured debt?

Unsecured Debt

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What is the Difference Between Secured and Unsecured Debt?

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.

Unsecured Debt

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Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

JUNE 7, 2023

Obtaining Personal Loans with a Cosigner Having a co-signer on a personal loan or credit card means that you associate another individual with your debt. A guarantor is typically someone who agrees to pay back a loan in the event that the borrower defaults on their payments.

Chapter 13 bankruptcy

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What Debts Are Not Discharged in Bankruptcy?

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. In broad terms, bankruptcy law differentiates between consumer-related debt as well as secured vs. unsecured debt.

Bankruptcy

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Questions to Ask a Chapter 7 Bankruptcy Lawyer Before Filing for Bankruptcy

Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.

Chapter 7 bankruptcy

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How to Fill Out Bankruptcy Forms in Colorado

Debt Free Colorado

OCTOBER 12, 2023

Detailed information about your property, collateralized debt, other debts, contracts, codebtors, income, expenses, and financial affairs must be provided accurately in the relevant sections of the bankruptcy form. watercraft, aircraft, personal property (including furniture, electronics, clothing, etc.),

Bankruptcy

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Does Chapter 13 Wipe All of Your Credit?

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.

Chapter 13 bankruptcy

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What Assets Do You Lose in Chapter 7?

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.

Chapter 7 bankruptcy

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Bankruptcy and Divorce: Should I File Before or After?

Sawin & Shea

JUNE 14, 2023

The Chapter 7 bankruptcy process usually takes between three and six months and will eliminate eligible unsecured debts, such as personal loans, credit card debts, and medical debts.

Chapter 7 bankruptcy

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What Happens to My Personal Loan After Bankruptcy?

How to Find the Right Online Personal Loan for You

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What Happens After a Personal Loan Bankruptcy Discharge?

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