Sawin & Shea

DECEMBER 7, 2022

With Chapter 7 bankruptcy , you reaffirm your secured debts while discharging unsecured debts. Secured debts refer to debts with collateral, such as a home or car. Most of the time, Chapter 7 filers are able to reaffirm their mortgages as long as they are not behind on payments. .

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Sawin & Shea

OCTOBER 27, 2021

You can discharge the medical debt by filing Chapter 7 or Chapter 13 bankruptcy because medical debts are generally what is described as “unsecured debts”. Whether you take on your medical debt by attempting to negotiate or by declaring bankruptcy, you should consider talking to a lawyer.

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Debt Free Colorado

DECEMBER 9, 2021

If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.

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Sawin & Shea

MARCH 13, 2024

In this blog, you’ll learn about whether you can reaffirm your debt in Ch. Have additional questions regarding bankruptcy or reaffirming secured debts? 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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Sawin & Shea

MAY 2, 2024

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. 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 52

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Sawin & Shea

AUGUST 9, 2023

You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. However, secured debt means the borrower has put up collateral (e.g.

Bankruptcy 52

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Titan Consulting

SEPTEMBER 2, 2020

However, the long-term interest charged at the end of the promotional period could be as high as the existing debt, limiting its usefulness. HELOC ( home equity line of credit ) will convert unsecured debts into a secured loan using your home as collateral. Is debt consolidation risky?

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Credit Corp

JULY 9, 2024

An auto loan is a type of secured debt, which means it’s backed by collateral. In financial lingo, collateral is a valuable asset used to secure a loan. If you don’t pay the loan as agreed, the lender has the right to take back—repossess—the asset, sell it, and use the proceeds to cover your debt.

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Qualco

APRIL 15, 2024

As financial hardships mount, debtors often prioritise the payment of secured debts like auto loans and mortgages over unsecured debts, leading to more incidents of unpaid loans.

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Sawin & Shea

MARCH 7, 2023

This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.

Chapter 7 bankruptcy 52

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Sawin & Shea

AUGUST 23, 2023

With Chapter 7 bankruptcy, you’ll be able to eliminate most unsecured debts, which includes: Credit card debt Medical debt Personal loans Payday loans Utility bills It’s important to keep in mind, though, that Chapter 7 will not eliminate all kinds of debt.

Bankruptcy 52

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Sawin & Shea

DECEMBER 21, 2023

For Collections Against Property In a Chapter 7 case, creditors secured by property collateral have some additional options. Within 30 days of filing bankruptcy, a debtor must file a Statement of Intent regarding secured property. This states whether the debtor will surrender, redeem, or reaffirm secured debts.

Bankruptcy 52

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Sawin & Shea

OCTOBER 27, 2021

You can discharge the medical debt by filing Chapter 7 or Chapter 13 bankruptcy because medical debts are generally what is described as “unsecured debts”. Whether you take on your medical debt by attempting to negotiate or by declaring bankruptcy, you should consider talking to a lawyer.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Unsecured Debt Lawyers 52

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.

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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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Collections Law

JULY 1, 2020

As experienced collections attorneys, rather than providing a multitude of services to our clients in many different areas of law, we prefer to focus on debt collection and construction litigation with an expanded coverage area, which has resulted in our incredible success in Massachusetts debt collection. At the Law Offices of Alan M.

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Debt Free Colorado

DECEMBER 23, 2024

Understanding what debts bankruptcy can eliminate is important. This where knowing Colorado unsecured debt examples can be helpful. Unsecured debt is a type of debt that is not backed by collateral. In this article, we will explore the types of unsecured debts that bankruptcy can erase.

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Debt RR

JANUARY 24, 2020

Secured debt: If a business receives a loan or other credit — like a credit card — because of specific assets or liquid collateral, they have secured debt. Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options.

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The Creditors Rights

MAY 24, 2016

The value of the bank’s collateral exceeded the amount the bank was owed. The BAP held the bankruptcy court erred In using § 1129(b) to deny Wells Fargo default interest on its claim. The facts in Beltway One were straightforward. Consequently, the BAP concluded Entz-White was not applicable to the present case.

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Debt RR

DECEMBER 13, 2019

Past-Due Secured Debt. Just like individuals, businesses often have mortgages, vehicle loans, and other secured loans. Debt can also be secured using intellectual property, equity, and other soft debt. Missing payments on secured debt causes the creditor to repossess the property as recourse.

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Debt Free Colorado

DECEMBER 30, 2023

Here are some factors to consider: Assessing Debt Types: Evaluate the nature of your debts—unsecured debts like credit cards may make bankruptcy a viable option, while secured debts tied to collateral may not be adequately addressed through retirement savings.

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Sawin & Shea

JUNE 14, 2023

If you still have unsecured joint debts with your ex-spouse, going through Chapter 7 will discharge your liability for the debt, but your former spouse will still be financially responsible unless they also discharge it through bankruptcy.

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Debt Free Colorado

MARCH 3, 2023

What Debts are Discharged in Bankruptcy? Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged. Generally, secured debt (loans backed by collateral), student loans, child support or alimony, recent taxes, criminal fines, or personal injury judgments cannot be discharged.

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