Sawin & Shea

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Unlike unsecured personal loans, secured loans involve some form of collateral that the lender can repossess if the borrower fails to make payments. Repossession deficiency claims.

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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. Rather than settlements or minimum payments to each creditor, a single payroll deduction is made to fund your plan over 3-5 years.

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BN Lawyers

MARCH 23, 2020

Work with Creditors. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. Many creditors will be willing to work with businesses. Creditors face their own pressures. To the extent possible, payments to creditors should be delayed while negotiations are ongoing.

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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. Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors. The Trustee’s office then pays various creditors. What Is Chapter 7 Bankruptcy?

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Sawin & Shea

AUGUST 9, 2023

When you file for bankruptcy whether Chapter 7 or 13, you are required to list all debt, both secured and unsecured. You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Creditors cannot reclaim any of your property if you default on a loan. Do I Need a Lawyer to File for Bankruptcy?

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Debt Free Colorado

OCTOBER 25, 2024

Bankruptcy lawyers in Denver, CO can also help you with the process. Business bankruptcy allows businesses struggling with debt to have a renewed financial status. Chapter 11 allows businesses to reorganize their debts while continuing operations. The court and creditors must then approve this. What is Bankruptcy?

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Sawin & Shea

NOVEMBER 1, 2023

However, while bankruptcy can help, it’s important to understand how the process works, especially concerning your medical debt. At Sawin & Shea, our team of Chapter 7 and Chapter 13 bankruptcy lawyers is here to help. Medical debts are also considered a necessity, which means they are protected under the “necessity” doctrine.

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Sawin & Shea

SEPTEMBER 6, 2023

Unlike Chapter 7 bankruptcy, Chapter 13 does not require the filer to liquidate all their assets (including their home) to pay off creditors. In other words, a Chapter 13 Plan can reorganize debts in ways that can help struggling homeowners get back on track with their mortgage payments, curing arrearages and making ongoing monthly payments.

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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. Chapter 7 looks at assets that you owned at the time you filed.

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Debt Free Colorado

NOVEMBER 28, 2024

Chapter 7 Bankruptcy The liquidation process is managed by a trustee who sells non-exempt assets to pay creditors. This enables debtors to keep important items while addressing their debts. A key benefit of Chapter 7 bankruptcy is the quick discharge of debts. It can help smoothen the process for both client and lawyer.

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Sawin & Shea

APRIL 17, 2024

The court will then order a bankruptcy stay — also called an automatic stay — that prohibits creditors and lenders from collecting what you owe. This plan states that you’re committed to paying back something to creditors in monthly installments, and you detail the minimum amount you’ll pay as well as the duration of the plan.

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Sawin & Shea

AUGUST 2, 2023

Bankruptcy Relief Filing for bankruptcy can not only assuage the anxiety and guilt associated with insolvency, but it can provide much-needed relief from creditors’ harassing phone calls. When you file for bankruptcy, the law immediately puts into place protections, including one that forbids creditors from contacting you in any way.

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Sawin & Shea

OCTOBER 11, 2023

Assets that do not fall within the statutory exemption values are liquidated and the proceeds used to pay your creditors something. However, the declarer is still responsible for paying non-dischargeable debt even after the process is complete. If a debt is secured, it means it is backed up by collateral property.

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Sawin & Shea

DECEMBER 28, 2023

Chapter 13 bankruptcy , also known as a wage earner’s plan, allows individuals with regular income to repay all or a portion of their debts over a 3 to 5-year period. Under Chapter 13, the filer works with their attorney to come up with a court-approved repayment plan showing how they will pay something back to creditors over time.

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Sawin & Shea

MARCH 27, 2024

This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you. The bankruptcy trustee will oversee the process of liquidating non-exempt assets to repay your creditors, and they will organize a 341 meeting, also known as the Meeting of Creditors.

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? Are My Creditors capable of appealing My Bankruptcy? What Debts are Discharged in Bankruptcy? What Can’t Bankruptcy Do?

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Collection Industry News

SEPTEMBER 29, 2020

Creditors will also benefit from the lower costs, quicker proceedings, and increased certainty about the outcome of the process, if at the expense of some leverage. Owners now have a way to keep their equity ownership even over the objection of creditors. First, the total amount of secured plus unsecured debt may not exceed $7.5

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Sawin & Shea

FEBRUARY 23, 2022

This plan will allow for one monthly payment to wrap up most types of debt and will provide you with automatic court protection from your creditors. The payments are made to a court-appointed trustee, who then distributes the money to your creditors in a predetermined system of priorities.

Chapter 13 bankruptcy 52

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Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

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Sawin & Shea

FEBRUARY 28, 2024

The Chapter 13 plan reorganizes your various debts, including personal loans, into a monthly payment plan that lasts three to five years after your filing date. Unlike Chapter 7 , you’ll pay part of the money you owe on unsecured debts, but most Chapter 13 payment plans reduce the total amount you’ll need to pay.

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Sawin & Shea

OCTOBER 20, 2021

However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. Your only option to deal with those debts in bankruptcy is to file a Chapter 13. How Sawin & Shea, LLC Can Help.

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Sawin & Shea

OCTOBER 20, 2021

However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. Your only option to deal with those debts in bankruptcy is to file a Chapter 13. How Sawin & Shea, LLC Can Help.

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BN Lawyers

SEPTEMBER 30, 2019

Additionally, hundreds of adversary proceedings have been filed, or will be, by various Trustees and Committees charged with pursuing the return of potentially billions of dollars to the Commonwealth for the benefit of creditors. This litigation may carry on for years to come.

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