Sawin & Shea

AUGUST 24, 2022

Although sometimes borrowers can receive a forbearance or work out a repayment plan with their lenders, many are unable to reach this agreement, meaning they’re at risk of losing their homes. Chapter 7 bankruptcy liquidates your assets in order to discharge unsecured debts, such as medical bills and credit card debt.

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Sawin & Shea

OCTOBER 26, 2022

If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Personal loans from lenders that you know, such as acquaintances, co-workers, employers, friends, and family. In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts.

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Debt Guru

JULY 19, 2020

You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. Debt consolidation can be a great tool to get out of debt faster – but only when it’s used correctly. Don’t apply for multiple accounts at once.

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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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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Titan Consulting

AUGUST 23, 2020

At your request, lenders must grant a forbearance for up to 180 days, renewable for up to a year with a hardship attestation. The CARES Act also requires lenders to offer repayment options that include adding missed payments to the end of the loan, a loan modification, or refinance. Take advantage of payment waivers.

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Sawin & Shea

AUGUST 9, 2023

Credit card debt is a huge reason people end up filing for bankruptcy. The incredibly high interest rates alone plus the ease of procuring cards contribute to what can be a vicious cycle of maxing out limits, paying only minimums, and applying for more cards. But can you file for bankruptcy on credit cards only ?

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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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