Sawin & Shea

SEPTEMBER 14, 2022

What is Consumer Debt? Consumer debt refers to an individual, family, or household’s debts incurred through personal spending and expenses. If you’re considering filing, take the guesswork out of the process by contacting the Indiana bankruptcy lawyers at Sawin & Shea, LLC. The post Consumer Debt vs.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Debt settlement with the wrong organization or a scam can destroy your credit. Consult with a bankruptcy lawyer about what your debt negotiation options are.

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Sawin & Shea

DECEMBER 7, 2022

Don’t Accumulate Any More Debt. If you’re already in the middle of filing for bankruptcy, any new debt that you accumulate will not be discharged. This includes credit card debt, so try to avoid racking up a substantial balance this season. Contact an Indiana Bankruptcy Attorney.

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Debt Free Colorado

NOVEMBER 28, 2024

Quick Summary: Bankruptcy is a legal process that offers relief from overwhelming debt for individuals and businesses. Certain debts—such as credit card debt, medical bills, and personal loans—can be discharged. However, not all debts can be discharged. This provides relief from significant healthcare costs.

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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. Personal loans from lenders that you know, such as acquaintances, co-workers, employers, friends, and family. Repossession deficiency claims. Old lease balances. Unpaid utility bills.

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Debt Free Colorado

FEBRUARY 21, 2022

It is prohibited for debt collectors to utilize unfair techniques, harass, or deceive consumers while seeking to collect consumer debts under the federal Fair Debt Collection Practices Act (FDCPA). The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts.

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Sawin & Shea

MARCH 20, 2024

If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. Handling Tax Debt and Refunds Do you know how much of your tax refund you can keep when filing? You deserve a fresh start.

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Debt Free Colorado

DECEMBER 23, 2024

Unsecured Debts in Chapter 7 Bankruptcy In Chapter 7 bankruptcy , most unsecured debts can be wiped away completely. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. Chapter 7 bankruptcy remains on credit reports for 10 years.

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Debt Free Colorado

DECEMBER 9, 2021

Without having to repay it later, you may immediately begin rebuilding your credit. . 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. . medical debt .

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Sawin & Shea

NOVEMBER 2, 2022

Your bankruptcy may erroneously show up on your spouse’s credit report in the future. Honesty is the best policy, so work with your bankruptcy lawyer to make a plan regarding your spouse’s level of knowledge and involvement in the process. Their debts will be unaffected if they aren’t part of the bankruptcy at all.

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Collection Industry News

JUNE 17, 2024

Our experts used debt statistics from the NYFRB broken down by debt category and down to the state level to get a detailed picture of what kinds of debt Americans are holding and where they are holding it. Household Debt Is at an All-Time High Household debt across all categories grew by 4.8% over the same period.

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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. Ad See how much you could save by consolidating your debt! . “It will stay on your credit report for seven years.” ” Finding The Right Lawyer.

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Collection Industry News

JANUARY 13, 2024

household debt grew by $800 million from 2022 to 2023, including a 16.6% growth in credit card debt. While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S.

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Sawin & Shea

AUGUST 2, 2023

Some people may be overwhelmed with credit card debt, especially those who spend more than 20% of their annual net income on credit card bills, have maxed out limits on several cards, and/or can only afford to pay the minimum on credit card bills. When Should I Contact an Attorney?

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Debt Free Colorado

FEBRUARY 17, 2023

Moreover, when filing bankruptcy again after being rejected for a discharge, you should work with an experienced bankruptcy lawyer to check if you can still request a discharge for the debts in your first filing. An automatic stay is a kind of bankruptcy relief that prevents debt creditors from contacting you about the amount you owe.

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Credit Corp

MAY 3, 2023

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. That can take three to five years.

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Sawin & Shea

SEPTEMBER 6, 2023

In other words, a Chapter 13 Plan can reorganize debts in ways that can help struggling homeowners get back on track with their mortgage payments, curing arrearages and making ongoing monthly payments. Unsecured debts like medical and credit card debt are forced to wait while you are given an opportunity to catch up.

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Debt Free Colorado

JUNE 18, 2024

This is to satisfy a debt you owe. This applies to unpaid debts such as: Unsecured debts: These are debts not tied to a specific asset, like credit card debt, medical bills, or personal loans. This includes credit card debt, medical bills, personal loans, and certain finance company charges.

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Sawin & Shea

APRIL 12, 2023

In most cases, Chapter 7 rules protect assets that are classified as exempt at the time you file versus unsecured debt which is not protected. Unsecured debt includes things like credit card debt, medical debt, and personal loans. What’s Wrong with Repaying Family or Friends Before I File for Bankruptcy?

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Collection Industry News

JULY 19, 2021

Attorneys for the borrowers and credit agencies did not immediately reply to requests for comment on Friday. The six cases involved borrowers who disputed the ownership of their credit card debts in lawsuits against the big three consumer credit reporting agencies. The case is Chuluunbat v.

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Sawin & Shea

MARCH 13, 2024

You are required to complete credit counseling with an approved agency within 180 days of filing. Once you prepare all necessary forms and complete credit counseling, you or your lawyer will file your bankruptcy petition. You are required to complete this course within 45 days of your 341 meeting to discharge your debt.

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Sawin & Shea

MARCH 27, 2024

You’re not required to have legal representation in the meeting, but it’s best to have a bankruptcy lawyer to support and assist you. Completing Chapter 7 To complete Chapter 7, you are required to undergo a finance management course as well as credit counseling. Will My Bankruptcy Filing Impact My Current Employment?

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Sawin & Shea

APRIL 10, 2024

For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC. The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. You’ll then be able to discharge the balance of eligible debts, such as credit card debt and medical bills.

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Taurus Collect

JANUARY 24, 2023

In this situation, it is best for borrowers to consult a lawyer before deciding how to proceed, as they may be able to help negotiate a more favourable outcome or find alternatives that don’t involve taking legal action against them. But if you use the right strategies during tax season, you can make a big dent in your debt load.

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Credits Inc

OCTOBER 26, 2019

Debt collection agencies have the account receivable collection service, which ensures you collect all your receivables. A government collection agency can work independently or through lawyers. Debt collectors are trained to collect these loans without making the debtor feel obliged. Government Collection Services.

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Sawin & Shea

FEBRUARY 28, 2024

Experienced lawyers recommend waiting 12-24 months to improve the chances of getting a loan agreement with a lender, whether that is a bank, credit union, credit card company, or any other financial institution. How soon after discharge can I apply for a new personal loan? However, it is difficult to qualify that soon.

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Sawin & Shea

MAY 2, 2024

After bankruptcy, you can obtain new credit through a secured credit card or borrow more money through other means without old obligations weighing you down. Bankruptcy legal fees are an investment in finally resolving your debt for good. Dischargeable debts are those that can be eliminated through bankruptcy.

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Collection Industry News

SEPTEMBER 23, 2020

Fighting Back When Debt Collectors Sue. The Pew researchers found that while most businesses filing debt collection claims were represented by attorneys, only about 10% of consumers being sued had lawyers. Some think the creditor’s lawyer will steamroll over them and they do not have any real way to fight back.

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Sawin & Shea

APRIL 17, 2024

Chapter 13 Bankruptcy Discharge Once you complete paying off your repayment plan over three to five years, the court will discharge your eligible debts. There are some situations in which you will need to incur additional debt while going through the bankruptcy procedure, such as unexpected vehicle or home repairs.

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Credit Corp

AUGUST 31, 2021

However, it’s important to note that every case is unique and the statute of limitations on various forms of debt is different in each state. Understanding what the rules in your state are and how they might apply to your specific debt situation is important. Contact a lawyer for your unique situation if you have questions.

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Collection Industry News

AUGUST 30, 2021

“We were maybe 5-6 years from paying off our mortgage, but with the credit card bills, auto loans, and general expenses, it was becoming nearly impossible. We ended up refinancing our mortgage to combine our credit card debt that was significantly over $10,000. It eased some of the burden.”.

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