Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. With credit card debt specifically, debtors often wonder how the process works and how it will affect their ability to still use current cards or open new ones in the future.

Credit Card Debt 52

Credit Card Debt Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy 52

Sawin & Shea

MAY 5, 2021

Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. You can keep such secured loans as your vehicle or house as long as you keep making payments on them.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Unsecured Debt Student Loans 98

Sawin & Shea

MARCH 9, 2022

Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts.

Chapter 13 bankruptcy 102

Chapter 13 bankruptcy Bankruptcy Unsecured Debt Collateral 102

Sawin & Shea

SEPTEMBER 14, 2022

Consumer debt refers to an individual, family, or household’s debts incurred through personal spending and expenses. If your debts have to do with personal or family spending rather than business expenses, penalties, and taxes, they are likely consumer debts. Are Student Loans Consumer or Non-Consumer Debts?

Chapter 7 bankruptcy 122

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 122

Sawin & Shea

JULY 28, 2021

If you file for Chapter 13 Bankruptcy in Indiana, you will still be obliged to pay something toward your debts; it’s just that you will be given a payment plan that reduces your unsecured debts based upon your ability to pay, that puts you on a manageable schedule, and that holds your creditors at bay while you work on making achievable payments.

Bankruptcy 105

Bankruptcy Credit Card Debt Chapter 13 bankruptcy Chapter 7 bankruptcy 105

Debt Guru

JULY 19, 2020

You can consolidate all different types of debt – and the result is a simplified repayment process that involves a single payment each month. It works by getting one new loan and using that to pay off multiple existing creditors. Debt consolidation can be a great tool to get out of debt faster – but only when it’s used correctly.

Debt Consolidation 104

Debt Consolidation Unsecured Debt Collateral Personal loans 104

Credit Corp

MARCH 12, 2025

Dealing with credit card debt is challenging, let alone facing a debt lawsuit.If Lawsuits also harm credit scores, and the stress from the legal process can exacerbate financial challenges. If you find yourself being sued by a debt collector, you may wonder how to get a credit card lawsuit dismissed.

Debt collector 52

Debt collector Credit Card Debt Creditors Bankruptcy 52

Credit Corp

MARCH 16, 2021

Is your credit card debt behaving like an unruly boy and has gone completely out of your control? Are you spending sleepless nights wondering how to get yourself out of a debt spiral? Or perhaps it’s a burgeoning credit card debt? How to Control Your Debt Yourself. Look Where You Are.

Debt Consolidation 98

Debt Consolidation Credit Card Debt Debt settlement Creditors 98

Sawin & Shea

AUGUST 24, 2022

Chapter 7 bankruptcy liquidates your assets in order to discharge unsecured debts, such as medical bills and credit card debt. If you’re eligible to file under Chapter 7 and only have unsecured debts, this may be your best course of action. Can I Stop Foreclosure with Chapter 13 Bankruptcy?

Chapter 13 bankruptcy 105

Chapter 13 bankruptcy Foreclosure Chapter 7 bankruptcy Bankruptcy 105

Debt Free Colorado

DECEMBER 9, 2021

Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. It’s a relatively straightforward technique to eliminate the majority of your debt. . Chapter 7 bankruptcy is appropriate for unsecured debtors.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Sawin & Shea

JANUARY 18, 2023

Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 81

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Roths Child Law

AUGUST 14, 2023

Student loans are one of the primary ways graduates build up debt. College students are often also targets of credit card companies, which can lead to all kinds of debts. Many students use their credit cards to buy books, supplies, coffee, alcohol, clothes, rent and food.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 52

Titan Consulting

AUGUST 23, 2020

Chapter 7 liquidates assets and discharges qualified debts. The process takes less than a year and can eliminate the balance on most unsecured debts. Filers can typically retain the home and vehicle as long as you make payments on the loan. Federally managed student loans received an automatic six-month payment waiver.

Chapter 13 bankruptcy 86

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Titan Consulting

SEPTEMBER 2, 2020

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.

Debt Consolidation 60

Debt Consolidation Unsecured Debt Consolidate Debt Personal loans 60

Titan Consulting

SEPTEMBER 22, 2020

Non-profit and for-profit credit counseling agencies assist with budgeting, set up a debt management plan (DMP), and work with creditors to lower the interest rate on enrolled accounts. To qualify for credit counseling, you must be able to repay the full balance owed plus some interest of the unsecured debt within 60 months.

Debt settlement 98

Debt settlement Bankruptcy Unsecured Debt Credit Card Debt 98

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 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

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. Can I Declare Bankruptcy for Credit Card Debt?

Bankruptcy 52

Bankruptcy Credit Card Debt Collateral Lawyers 52

Better Credit Blog

APRIL 11, 2022

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In other cases, such as credit card debt, it’s seen as a hardship and can have a negative impact.

Debt Consolidation 74

Debt Consolidation Debt settlement Credit Card Debt Bankruptcy 74

Debt Free Colorado

JUNE 18, 2024

Quick Summary: Chapter 7 bankruptcy allows individuals to discharge most unsecured debts. Creditor harassment is any aggressive or threatening communication from a debt collector. Wage garnishment is a legal procedure where a creditor obtains a court order to withhold part of your earnings from your paycheck to repay a debt.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Creditors Garnishment Unsecured Debt 52

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. However, there are specific details to consider.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Roths Child Law

JANUARY 31, 2023

If you are seeking to discharge unsecured debts like medical debts, credit card debts and unsecured loans, then you need to file for Chapter 7 bankruptcy. However, if you are dealing with secured debts like a mortgage or a car loan, then you need to file Chapter for 13 bankruptcy.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

JANUARY 12, 2022

Discuss your tax debt with a bankruptcy attorney to make sure you get the most out of your discharge. Student Loans. Most student loans are not discharged without filing a separate lawsuit in the bankruptcy asking for a court order declaring them discharged. Student loans can be particularly challenging.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Student loans 52

Better Credit Blog

JANUARY 20, 2022

This is why many people engage the services of a debt relief agency. TransUnion calculates that paying off $5,000 of credit card debt at the minimum rate costs $10,000 in interest. It was for a PMSI loan for an outdoor wood burning furnace. I came to learn that FDR mainly only works with credit cards.

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Credit Corp

AUGUST 24, 2021

The credit counselor helps you create a plan. This might include options such as budgeting, debt settlement, consolidation loans, or debt management programs. So the act of credit counseling itself does not hurt your credit history or score. Who Is Credit Counseling Right for? TD Cash Credit Card.

Credit Counselor 98

Credit Counselor Debt settlement Debt Management Creditors 98

Titan Consulting

JULY 22, 2020

Lower interest rates mean saving on variable rate loans like credit card balances and HELOCS. In light of the pandemic, Banks are raising lending requirements, and in some cases, pausing applications for HELOCS and other credit lines. Should I take out a credit line or HELOC just in case?

Foreclosure 75

Foreclosure Bankruptcy Loans Banks 75

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.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

APRIL 12, 2023

However, there are other ways to pay back family and friends that the courts allow and won’t negatively impact the family member or friend who has loaned you money. 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. Who Is an Insider?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Credit Corp

JUNE 1, 2021

Include a line item in the budget for any credit card debt. Care for Your Credit Profile. Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. How to build and maintain that history starts by understanding credit reports and scores.

Student loans 74

Student loans Student Loans Loans Credit Card Debt 74

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. Student loans are also difficult but not impossible to discharge in bankruptcy.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

NOVEMBER 17, 2021

We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt. In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

NOVEMBER 17, 2021

We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt. In Chapter 7 bankruptcy, your utility bills are considered unsecured debts and will be treated like other debts in this category, such as credit cards, medical bills, and personal loans.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Credit Corp

FEBRUARY 20, 2025

Have you ever felt in over your head with debt? According to a 2024 study, the average level of personal debt, not including mortgages, is over $22,000. Maybe youve been hit with unexpected medical bills or accrued credit card debt over time. Debt consolidation loans involve a single loan to pay off multiple debts.

Debt settlement 52

Debt settlement Debt Consolidation Credit Card Debt Creditors 52

Sawin & Shea

JUNE 7, 2023

Co-signers are beneficial for those seeking to obtain loans and credit cards. The primary advantage of having a responsible co-signer is that it will increase your chances of receiving credit approval. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

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. Where Do I Go From Here?

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Roths Child Law

JULY 26, 2020

It is particularly beneficial for individuals who have a significant amount of unsecured debt, such as credit card balances and medical bills. In Chapter 7, several different types of debts are eligible for discharge. Chapter 7 bankruptcy is a popular option because it only takes a few months to complete.

Chapter 7 bankruptcy 40

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 40

Sawin & Shea

AUGUST 30, 2023

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. You are not allowed to have more than $465,275 of unsecured debt (such as credit card or medical debt) or more than $1,395,875 of secured debt (such as a house, property, or vehicle). Most federal student loans.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Sawin & Shea

JUNE 14, 2023

Declaring Bankruptcy Before a Divorce If you’re on good terms with your spouse and are struggling with unsecured debts, you may want to consider filing Chapter 7 bankruptcy before your divorce. This can also simplify the divorce process because you won’t have to divide your unsecured debts when going through dissolution proceedings.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 52