Debtor Repossession Secured debt 
Debt Free Colorado
FEBRUARY 24, 2025
Some credit card balances may not be erased, especially if linked to fraud, luxury spending, or secured purchases. Secured debt, like financed electronics or furniture, may require repayment or repossession. Complete a Debtor Education Course After your 341 Meeting, you must take a second financial education course.
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. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.
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Sawin & Shea
DECEMBER 7, 2022
This includes credit card debt, so try to avoid racking up a substantial balance this season. Those who are about to file for bankruptcy should also avoid accumulating substantial debt. Many debtors make the mistake of racking up more debt before filing because they figure that they’ll be able to discharge it.
Sawin & Shea
MARCH 13, 2024
Have additional questions regarding bankruptcy or reaffirming secured debts? 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. The Plan controls how those debts are handled. What Is a Reaffirmation Agreement?
Debt Free Colorado
DECEMBER 9, 2021
Chapter 7 bankruptcy is appropriate for unsecured debtors. If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Collateral guarantees debt repayment.
Sawin & Shea
DECEMBER 21, 2023
For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. It is one of the fundamental debtor protections under the Automatic Stay in the Bankruptcy Code. Within 30 days of filing bankruptcy, a debtor must file a Statement of Intent regarding secured property.
Sawin & Shea
NOVEMBER 15, 2023
In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. 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.
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