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.

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Debt Free Colorado

DECEMBER 23, 2024

Chapter 13 creates a 3-5 year payment plan that lets you keep assets, but you need steady income and must owe less than $465,275 in unsecured debt. Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. Late utility bills also count as unsecured debt.

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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

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

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. With a clean slate, this allows you to rebuild your credit score and financial future.

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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

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. Bankruptcy legal fees are an investment in finally resolving your debt for good.

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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.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

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. You will not be able to discharge: Family and child support Most student loans Most local, state, and federal taxes How Does Filing Bankruptcy Impact Your Standing with Credit Bureaus?

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

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. Make a wise choice on the government collection agency that you want to work with to get your loan back.

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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. Common types of dischargeable debts include credit card debt , personal loans, and unpaid medical bills.

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Sawin & Shea

APRIL 10, 2024

To fully gauge what you may lose, it’s best to get in touch with a bankruptcy attorney who can give advice and guidance as you undergo your bankruptcy filing to discuss your personal assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC. The post What Assets Do You Lose in Chapter 7?

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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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