Debtor Education Unsecured Debt 
Sawin & Shea
JANUARY 11, 2024
Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Your debtor education provider must meet very specific requirements to become a qualified debtor education provider.
Sawin & Shea
JANUARY 25, 2022
While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13.
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Debt Free Colorado
FEBRUARY 24, 2025
Most unsecured debts, including credit cards, can be erased through Chapter 7. The process takes a few months, and once complete, you are no longer responsible for repaying discharged debts. A financial education course must be completed before final approval. Creditors rarely show up, usually just you and the trustee.
Titan Consulting
AUGUST 23, 2020
If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score. Chapter 7 liquidates assets and discharges qualified debts. Frequently Asked Questions.
Sawin & Shea
JULY 27, 2022
Debtors who run their credit card balances up before they file for bankruptcy could suffer consequences. Primarily, it could result in your debt becoming ineligible for discharge, which is often the whole point of filing for bankruptcy. So in many cases, running your credit card debt up is not worth it.
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. What Is Chapter 7 Bankruptcy?
Collection Industry News
DECEMBER 21, 2020
Under the CBRA, consumer debtors will still be examined at 341 meetings, but those meetings can be conducted remotely. Three Types of Chapter 10 Plans: “Residence” and “Property” Plans for Repayment of Secured Debts and General Repayment Plans for Unsecured Debts. Debtors’ Attorneys Paid over Time.
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