Sawin & Shea

OCTOBER 26, 2022

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 best suits your financial situation. Payday loans.

Personal loans 98

Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Sawin & Shea

MARCH 23, 2021

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed. Are you behind on car payments? Now’s the time to act.

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Repossession Chapter 13 bankruptcy Bankruptcy Creditors 52

Sawin & Shea

JULY 8, 2020

Your Chapter 13 bankruptcy plan creates an affordable route to satisfying your creditors and starting to rebuild your financial stability. The kinds of debt that can typically be eliminated are credit card debt, medical bills, utility bills, evictions, repossessions, and personal loans. Section 523(a)(8).

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Chapter 13 bankruptcy Student loans Student Loans Bankruptcy 133

Roths Child Law

MAY 11, 2021

In fact, you may fall behind even though you do your best to make payments to every creditor every month. . Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . How does repossession work?

Repossession 52

Repossession Lender Collateral Bankruptcy 52

Sawin & Shea

SEPTEMBER 14, 2022

They can assist you through the bankruptcy process and can keep creditors from unlawfully harassing you. Examples of non consumer debts include: Alimony Child support Traffic tickets Parking tickets Criminal restitution Business loans Personal guarantees Business property mortgages Business-related legal fees Taxes.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Student Loans 122

Debt Free Colorado

FEBRUARY 24, 2025

Secured debt, like financed electronics or furniture, may require repayment or repossession. It works by liquidating non-exempt assets to repay creditors. Understanding Liquidation Chapter 7 may involve selling off some of your assets to repay creditors, but not everything is at risk. What Is Bankruptcy Chapter 7?

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Credit Card Debt Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 52

Debt Free Colorado

JUNE 18, 2024

Know How to Stop Creditor Harassment & Wage Garnishment Debt can be a heavy burden. 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.

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Chapter 7 bankruptcy Creditors Garnishment Unsecured Debt 52

Credit Corp

JANUARY 5, 2021

For example, if you borrowed $12,000 for a personal loan and only paid back $6,000, you still received the original $12,000. Not paying back the other half of the loan means you got the benefit of that money without paying for it. The creditor that sent you the 1099-C also sent a copy to the IRS. Why Did You Get a 1099-C Form?

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Repossession Bankruptcy Foreclosure Creditors 105

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. 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.

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Bankruptcy Chapter 7 bankruptcy Repossession Garnishment 94

Sawin & Shea

JULY 22, 2020

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. It stops creditors from calling and otherwise contacting you. In fact, the U.S. What Is A Chapter 13 Repayment Plan?

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Repossession 97

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.

Student Loans 81

Student Loans Student loans Chapter 13 bankruptcy Chapter 7 bankruptcy 81

Roths Child Law

MAY 11, 2021

In fact, you may fall behind even though you do your best to make payments to every creditor every month. . Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . How does repossession work?

Repossession 40

Repossession Lender Collateral Bankruptcy 40

Sawin & Shea

JANUARY 18, 2024

As you think about filing bankruptcy, it’s crucial to understand the interaction between Chapter 13 and car loans. Bankruptcy can impact various aspects of your financial life, including existing car loans. How Does Chapter 13 Bankruptcy and Auto Loans Work? What is Chapter 13 Bankruptcy?

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Chapter 13 bankruptcy Loans Bankruptcy Repossession 52

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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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

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. 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

Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” 8 Common Reasons You Were Denied Credit. .”

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Lender Loans Personal loans Trade 104

Sawin & Shea

MAY 26, 2021

This means each spouse is only responsible for their partner’s debt if they have voluntarily joined the debt, for example by co-signing on a loan. If you opt for Chapter 13, an automatic co-debtor stay prevents creditors from hassling either you or your spouse about shared debts. This is good news for Indiana residents.

Bankruptcy 97

Bankruptcy Chapter 13 bankruptcy Creditors Repossession 97

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

Better Credit Blog

APRIL 1, 2022

It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill. You may spend $400 to $500. Ads by Money.

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Bankruptcy Collections Agency Collection Agencies Foreclosure 114

Credit Corp

JULY 25, 2021

The Prime Rate Good Mortgage Interest Rates Good Car Loan Interest Rates Good Credit Card Interest Rates Good Personal Loan Interest Rates Good Student Loan Interest Rates. You enter a credit score range, state, home price, down payment amount, and terms of the loan. What Interest Rate Should You Expect on a Car Loan?

Student Loans 98

Student Loans Student loans Loans Lender 98

Credit Corp

MAY 3, 2021

Can a Creditor Collect after Issuing a 1099-C? The bank repossesses the car, but you still owe $20,000 on it. If the car is worth $15,000, the bank can sell it and recover that much of the loan—leaving $5,000 of debt to be canceled. Can a Creditor Collect After Issuing a 1099-C? In This Piece. What Is a 1099-C?

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Repossession Bankruptcy Creditors Unsecured Debt 94

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. The court trustee creates a repayment plan approved by creditors and oversees the debt repayment. Filers can typically retain the home and vehicle as long as you make payments on the loan.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

JULY 15, 2020

You won’t have to repay all of your debts in full but your plan will satisfy your creditors one way or another. This includes filing a petition for Chapter 13 bankruptcy and providing a list of all sources of income, your debts and creditor contact information, your property and belongings, and your monthly bills.

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Chapter 13 bankruptcy Bankruptcy Unsecured Debt Chapter 7 bankruptcy 94

Credit Corp

DECEMBER 3, 2024

When youre late on payments or stop making payments on a loan, the lender can repossess or repo the item youre financing to settle your debt. Lets take a closer look at how to remove repossessions from your report. Table of contents: Step 1: Understand What Repossession is Step 2. Review Your Credit Report Step 3.

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Repossession Debt settlement Lender Credit Bureau 52

Credit Corp

AUGUST 25, 2020

In some cases, creditors may be required to contact you directly or otherwise verify your identity when approving credit. This makes it harder for someone to pretend to be you and apply for a loan or credit card. Repossession and foreclosure. Protection against prepay penalties if you pay the loan back early.

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Repossession Loans Judgment Law Firms 81

Troutman Sanders

APRIL 17, 2023

District Court for the Southern District of Florida arguing that the Equal Credit Opportunity Act’s (ECOA) prohibition on discrimination covers every aspect of an applicant’s dealings with a creditor, not just the specific terms of a loan (like the interest rate or fees). Health Career Institute, LLC, et al. Townstone Financial, Inc.

Student Loans 94

Student Loans Student loans Repossession Loans 94

Troutman Sanders

APRIL 24, 2023

Earlier this month, a district court for the Eastern District of Michigan dismissed on its own initiative a Fair Credit Reporting Act (FCRA) claim brought by a consumer alleging inaccurate reporting of her charged-off vehicle loan. The court’s opinion in Shelton v. Americredit Financial Services, Inc. Hence, no inaccuracy.

Loans 52

Loans Repossession Secured Creditor Construction 52

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? Automatic Stay Violations.

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Bankruptcy Garnishment Repossession Foreclosure 52

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? Automatic Stay Violations.

Bankruptcy 52

Bankruptcy Garnishment Repossession Foreclosure 52

Qualco

NOVEMBER 7, 2023

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. This scenario underscores the pressing need for resilient and adaptable strategies in managing loan portfolios.

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Financial Institution Debtor Loans Collateral 105

Sawin & Shea

APRIL 20, 2021

This allows them to begin the foreclosure process on your home, which will ultimately cause your home to be repossessed and sold at what is called a sheriff’s sale unless some type of intervention takes place. Federal law usually requires the lender to wait until the loan is 120 days past due.

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Foreclosure Bankruptcy Lender Repossession 93

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.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Roths Child Law

DECEMBER 15, 2021

If you’re in this position, you’re probably tired of the creditors calling you and sending you letters. If you file a Chapter 7 bankruptcy, your non-exempt debts are liquidated so creditors can receive some payment for your accounts. Car loans and mortgages are types of secured debts. Medical bills also fall under this category.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

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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Bankruptcy Creditors Lender Lawyers 67

Credit Corp

APRIL 26, 2024

Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. The IRS notes that cancellation can occur when the creditor gives up on collecting because it’s exhausted its resources and is unable to collect. In some cases, cancellation can come about as an agreement between you and the creditor.

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Repossession Creditors Bankruptcy Foreclosure 59

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. 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.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Repossession Garnishment 52

Roths Child Law

JANUARY 31, 2023

You can approach your creditors for a waiver or negotiate a repayment plan that will work for you. 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. If these options are not possible, you may consider filing for bankruptcy.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52