Sawin & Shea

MAY 26, 2021

This means a foreclosure, repossession, garnishment, or other action can continue against your spouse even after you’re freed of it through bankruptcy – but only if their name is on the debt. If you opt for Chapter 13, an automatic co-debtor stay prevents creditors from hassling either you or your spouse about shared debts.

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Public Citizen

OCTOBER 29, 2020

Puerto Rico, and the Virgin Islands that protect wages, assets in a bank account, and property from seizure by creditors. “By Only when stimulus checks were deposited in families’ bank accounts and garnished by debt collectors did many states realize that they had no state laws to protect a basic amount in a family’s bank account.

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Sawin & Shea

JANUARY 18, 2023

You’ll also need to supply the bankruptcy court with a list of creditors, an income statement, and copies of your tax records. Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action.

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Debt Free Colorado

APRIL 9, 2020

Below you’ll find some strategies for working with your creditors and deciding which bills are the most important if you can’t pay them all. Reach out to your creditors. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy. Triage your finances.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. Creditors are prohibited from contacting you after your petition is filed. Complete protection from creditors – This includes wage garnishment and debt collection.

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Roths Child Law

FEBRUARY 19, 2021

Put an end to creditor collection activities. Once the stay goes into effect, creditors are no longer able to call, write letters or file lawsuits in an effort to collect a past-due balance. Furthermore, they are not able to garnish your wages, repossess property or foreclose on your home.

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Sawin & Shea

DECEMBER 21, 2023

It stops: Debt collection efforts Foreclosures Wage garnishments Civil lawsuits Utility shutoffs Most other creditor actions to collect pre-bankruptcy debts The stay helps facilitate the goals of bankruptcy by preventing creditor collection efforts and allowing time for orderly debt restructuring or liquidation.

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Sawin & Shea

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. What sets Sawin & Shea, LLC apart is our commitment to clear communication and accessibility. How Much Debt Is Enough?

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Roths Child Law

JANUARY 31, 2023

You can approach your creditors for a waiver or negotiate a repayment plan that will work for you. Either way, overlooking the writing on the wall can give your creditor room to do the following: Place liens or obtain judgments on your property Foreclose your home Repossess your vehicle Start garnishing your paycheck Are you drowning in debt?

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Sawin & Shea

MAY 10, 2023

You can keep your home and car and will receive automatic court protection from creditors. Chapter 7 bankruptcy also stops lawsuits and garnishments. Chapter 13 bankruptcy , or reorganization bankruptcy, stops repossessions and foreclosures to save your home or investment. It also stops lawsuits and garnishments.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view. .’

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Sawin & Shea

JANUARY 25, 2022

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. In some cases, the assets or secured interest is something a creditor voluntarily agrees to in a lien; in other cases, the lien may be involuntary.

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Sawin & Shea

JULY 12, 2023

Both forms of bankruptcy provide an automatic stay, which is a legal order that protects you from creditors. Once you’ve filed your bankruptcy petition, creditors will no longer be able to take any action to collect debts against you. They’ll be unable to garnish your wages, foreclose on your home, and repossess your belongings.

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Sawin & Shea

FEBRUARY 7, 2024

With this automatic stay, your creditors won’t be able to garnish your wages, meaning that you can use your earnings to pay your installment plan. However, if you do not make timely installment payments, the Court will dismiss your case and you will once again be at the mercy of your creditors.

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Sawin & Shea

JULY 19, 2023

Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors. Chapter 7 bankruptcy also stops lawsuits and wage garnishments. Chapter 13 , or reorganization bankruptcy, stops repossessions and foreclosures so you can save your home or investment.

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Sawin & Shea

SEPTEMBER 20, 2023

Upon filing a Chapter 7, you receive automatic court-oredered protection from creditors and aren’t subject to lawsuits, repossessions, or wage garnishments. In Chapter 13 you enter into a reorganization plan that forces your creditors to take what the law says you can afford, or what you have to pay them.

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Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. You will be assigned a trustee during the process who will review your assets and finances. What Are Your Bankruptcy Lawyer Fees?

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Sawin & Shea

NOVEMBER 15, 2023

If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).

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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. Staring down mountains of debt can feel overwhelming. Bankruptcy filings for both individuals and businesses are on the rise. There are some key differences between these two types of bankruptcy.

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed. Unlike Chapter 7, filing Chapter 13 offers protections for co-signers.

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Sawin & Shea

JANUARY 24, 2024

The court sells off your nonexempt assets and uses the proceeds to pay your creditors. Your assets are protected while you make monthly payments to creditors through the court. The remaining qualifying debts are discharged, meaning you are no longer responsible for paying them back.

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Sawin & Shea

JUNE 21, 2023

The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions. Filing for Chapter 13 bankruptcy can help you improve your financial situation.

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Sawin & Shea

JUNE 14, 2023

Additionally, filing for bankruptcy before a divorce can save you the headache of dealing with creditors in the future. If you’re legally responsible for joint debts along with your spouse, creditors can continue pursuing the debt after your divorce.

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Debt Free Colorado

MARCH 3, 2023

Are My Creditors capable of appealing My Bankruptcy? Chapter 7 bankruptcy Given its straightforward and simple nature, Chapter 7 is sometimes referred to as straight bankruptcy since it involves selling the debtor’s assets, and splitting the money among creditors. What Can’t Bankruptcy Do? What Debts are Discharged in Bankruptcy?

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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. Choosing the right solution is a big step that could affect your life for years to come. You deserve a fresh start.

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Sawin & Shea

OCTOBER 20, 2021

It’s important to note, however, that using multiple bankruptcies to evade creditors without the intent to follow through to discharge (serial filing) is highly frowned upon and can result in the court lifting the protections that bankruptcy affords. It is a stopgap measure as ultimately there is not a discharge at the end of a plan.

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Sawin & Shea

OCTOBER 20, 2021

It’s important to note, however, that using multiple bankruptcies to evade creditors without the intent to follow through to discharge (serial filing) is highly frowned upon and can result in the court lifting the protections that bankruptcy affords. It is a stopgap measure as ultimately there is not a discharge at the end of a plan.

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Burr Forman

DECEMBER 4, 2020

The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020. On April 23, 2020, Governor Gavin Newsom issued Executive Order N-57-20 exempting stimulus payments and other COVID-19-related government financial assistance from attachment, levy, execution, or garnishment.

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