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.” Card Details +.

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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. What’s a Good Interest Rate on Personal Loans? Personal loans are typically unsecured. In This Piece.

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Sawin & Shea

MAY 2, 2024

With a deep commitment to personalized service, we take the time to understand your unique circumstances and tailor our approach to your specific needs. This powerful solution can immediately halt creditor harassment, wage garnishments, and lawsuits, allowing you to breathe a sigh of relief and regain control of your financial life.

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Sawin & Shea

JUNE 7, 2023

Obtaining Personal Loans with a Cosigner Having a co-signer on a personal loan or credit card means that you associate another individual with your debt. Creditors can pursue reimbursement from the co-signer via repossessions, foreclosures, wage garnishment , and other aggressive actions.

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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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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. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.

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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. Examples of Unsecured Debts.

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Sawin & Shea

NOVEMBER 15, 2023

Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. 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. Unsecured Debt What is unsecured debt?

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Sawin & Shea

AUGUST 30, 2023

This will immediately stop your creditors from being able to contact you to demand payment. You and your bankruptcy attorney will next attend either a creditor meeting or a 341 hearing with your court-appointed bankruptcy trustee. Car loans (unless you allow your car to be repossessed, in which case you will not owe any past payments).

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Collection Industry News

APRIL 24, 2025

Prohibits credit reporting agencies from including medical debt on credit reports sent to creditors if the creditor is prohibited from considering it. Bars lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone cant repay the loan.

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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. In the case of a Chapter 7 bankruptcy, the court appoints a trustee who is in charge of selling off (liquidating) a declarer’s non-exempt assets.

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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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Debt Free Colorado

OCTOBER 12, 2023

watercraft, aircraft, personal property (including furniture, electronics, clothing, etc.), financial assets (including bank accounts and investments), debts owed to you (including tax refunds, loans, and other obligations), assets related to your business, and any other assets you may own. You can start over because of that.

Bankruptcy 52

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Sawin & Shea

JUNE 14, 2023

The Chapter 7 bankruptcy process usually takes between three and six months and will eliminate eligible unsecured debts, such as personal loans, credit card debts, and medical debts. Additionally, filing for bankruptcy before a divorce can save you the headache of dealing with creditors in the future.

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

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. They cannot take legal action against you or seize your assets.

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Better Credit Blog

FEBRUARY 11, 2022

These companies aim to reduce the amount of money you owe by negotiating a lower fee with creditors, which makes getting back into the black more affordable. Like similar companies, it contacts creditors on your behalf to negotiate a discount on your debt. Many lenders decide it’s in their best interests to agree. Unique Features.

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Credit Corp

JULY 26, 2021

Can your family members’ creditors come after you now? Technically, personal debts aren’t forgiven at death. Instead, they pass to the estate of the deceased person. If the estate cannot pay off the loan, the person who inherits the car can sell it to cover the debt. Student Loan Debt. Credit Card Debt .

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