Government Repossession Unsecured Debt 
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. Secured debt, like financed electronics or furniture, may require repayment or repossession. What Is Bankruptcy Chapter 7?
Sawin & Shea
MARCH 9, 2022
Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts.
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Sawin & Shea
JANUARY 18, 2023
Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. What is Chapter 7 Bankruptcy?
Debt Free Colorado
DECEMBER 9, 2021
The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Additionally, not all unsecured debt is dischargeable under Chapter 7.
Titan Consulting
AUGUST 23, 2020
When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? Chapter 7 liquidates assets and discharges qualified debts. The process takes less than a year and can eliminate the balance on most unsecured debts. The Bankruptcy Option.
UK debt collections
NOVEMBER 16, 2023
It can have serious implications for individuals and their families, as it can lead to bankruptcy or repossession. For those struggling with debt, it’s important to seek professional advice as soon as possible in order to avoid personal insolvency.
BN Lawyers
MARCH 23, 2020
These parties could foreclose or repossess the property securing the loans. They could lock you out of your location or repossess equipment. Businesses should therefore strongly consider not paying unsecured debt pending an arrangement with creditors that provides a clear path through this crisis.
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