Debt Free Colorado

FEBRUARY 24, 2025

A financial education course must be completed before final approval. Some credit card balances may not be erased, especially if linked to fraud, luxury spending, or secured purchases. Secured debt, like financed electronics or furniture, may require repayment or repossession.

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Sawin & Shea

JANUARY 11, 2024

Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Bankruptcy filings for both individuals and businesses are on the rise.

Education 52

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Titan Consulting

AUGUST 23, 2020

In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. In addition to the fees you will pay to courts and your attorney, you will also incur fees for court approved financial education courses you must successfully complete to have your debts discharged.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

JANUARY 25, 2022

What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral. If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. Examples of Secured Debts.

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Titan Consulting

SEPTEMBER 2, 2020

Credit Counseling agencies recommend debt management plans or DMPs. You make one monthly payment to the program, and the agency pays your creditors based on an approved schedule. Lastly, converting unsecured debt to secured debt gives creditors additional means to collect on the debt, including foreclosing on your home.

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Debt Consolidation Unsecured Debt Consolidate Debt Personal loans 60

Sawin & Shea

APRIL 10, 2024

Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. Indiana’s median income changes from year to year.

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Collection Industry News

DECEMBER 21, 2020

Currently, Chapter 7 allows consumers with nominal disposable monthly income to discharge their debts after liquidating any non-exempt assets to repay their creditors. Chapter 13 provides for consumers to discharge their debts after paying their disposable income to creditors under a three- or five-year repayment plan.

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