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.

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Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Briefly, unsecured debts are not backed by any collateral. Credit card and medical debt are examples of unsecured debt.

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Troutman Sanders

APRIL 27, 2023

Noting a rise in credit card delinquencies, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post analyzing civil judgments, the final recourse for creditors to collect on unsecured debt. Civil judgments are governed by state law. Twenty times more common in some states than others.

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Credit Corp

OCTOBER 25, 2020

Once your overdrawn bank account enters collections, there is a specified amount of time in which a bank or debt collection agency can sue you. Bank debts are considered unsecured debts, and the time frame in which you can be sued varies by state. In most cases, debts are removed from your credit report after seven years.

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Sawin & Shea

JANUARY 12, 2022

Certain Tax Debts. Taxes that you owe to the federal or state government are sometimes dischargeable, and sometimes not. Discuss your tax debt with a bankruptcy attorney to make sure you get the most out of your discharge. Debts That Can Be Eliminated. Student Loans.

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Titan Consulting

SEPTEMBER 15, 2020

Financial hardship could make it possible to negotiate debt balances and pay less than the full amount owed. Bankruptcy can wipe out unsecured bills, leaving creditors with no way to recover the debt. When Should You Consider a Debt Settlement Program ? When to Get Professional Help Settling Your Debts?

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Debt Free Colorado

JANUARY 20, 2024

Some options are negotiating with creditors, structured payment plans, and debt consolidation. You can also seek guidance from credit counseling agencies, medical billing advocates, and government assistance. Chapter 7 Bankruptcy In Chapter 7 bankruptcy , eligible unsecured debts, including medical bills, may be discharged.

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Katabat

NOVEMBER 5, 2021

Researchers found “that people who carried consistently high levels of unsecured debt were 76 percent more likely to have pain that interfered with their daily life than people with no unsecured debt.”. The study then looked at their physical health at age 50.

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Katabat

NOVEMBER 5, 2021

Researchers found “that people who carried consistently high levels of unsecured debt were 76 percent more likely to have pain that interfered with their daily life than people with no unsecured debt.” The study then looked at their physical health at age 50.

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Sawin & Shea

SEPTEMBER 15, 2021

It would be reassuring to think that government agencies never make mistakes, but like all huge entities–sometimes they do. Like all debts in bankruptcy, an automatic stay is put into place upon filing (the creditors have to leave you alone) for at least a period of time. What’s the catch? Well, you can’t have committed fraud.

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Sawin & Shea

SEPTEMBER 15, 2021

It would be reassuring to think that government agencies never make mistakes, but like all huge entities–sometimes they do. Like all debts in bankruptcy, an automatic stay is put into place upon filing (the creditors have to leave you alone) for at least a period of time. What’s the catch? Well, you can’t have committed fraud.

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Sawin & Shea

OCTOBER 4, 2023

Waiting Periods and Credit Ratings for Government-Backed Mortgage Loans Government-backed mortgage loans usually have shorter waiting periods. Don’t take on any excessive unsecured debt. A conventional loan usually requires a credit rating of at least 620. How Long After Bankruptcy Can I Buy a House?

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Sawin & Shea

AUGUST 9, 2023

When you file for bankruptcy whether Chapter 7 or 13, you are required to list all debt, both secured and unsecured. You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Creditors cannot reclaim any of your property if you default on a loan. Do I Need a Lawyer to File for Bankruptcy?

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Better Credit Blog

FEBRUARY 11, 2022

One of the most reputable is National Debt Relief, which has helped 100,000 families and individuals pay off their arrears in full. It’s resolved more than $1 billion in unsecured debt since it first launched in 2009. Decide whether the company’s services are right for you with this review of National Debt Relief.

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Burr Forman

MARCH 15, 2021

Erin has experience in all aspects of complex secured and unsecured debt financings, corporate mergers and acquisitions, and various sophisticated real estate transactions. Erin is a Partner in the Atlanta office, Practice Group Leader for Burr’s Real Estate Practice Group, and a member of the Corporate and Tax Practice Group.

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Better Credit Blog

JANUARY 20, 2022

TransUnion calculates that paying off $5,000 of credit card debt at the minimum rate costs $10,000 in interest. This is where a debt relief program can help, typically with unsecured debt, meaning debt not associated with a tangible asset like a house or car. Who Is Freedom Debt Relief Best For?

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Sawin & Shea

MARCH 27, 2024

The bankruptcy discharge will eliminate your unsecured debts , including unpaid medical bills and credit card debt. It is against federal law for an employer to fire an employee due to their bankruptcy filing, and this applies both to government agencies and private employers.

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UK debt collections

NOVEMBER 16, 2023

If personal insolvency is unavoidable, individuals are able to apply for a Debt Relief Order (DRO) or an Individual Voluntary Arrangement (IVA). These government-backed initiatives can help debtors deal with their debts in an official and legal way.

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Debt RR

JANUARY 24, 2020

Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options. As with equipment leases, secured debt may be reduced by surrendering the security deposit or collateral. This can include things like inventory financing debt, as well.

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BN Lawyers

SEPTEMBER 30, 2019

Combined with the restructuring of Sales Tax related debt (COFINA) earlier this year, the Plan reduces the Commonwealth’s annual debt service to under 9% of own-source revenues, down from roughly 30% of government revenues prior to PROMESA. Plan Highlights. It includes an 8.5% billion to $1.5

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Hudson Weir

JANUARY 26, 2024

They were introduced back in 2020 under the Corporate Insolvency and Governance Act. The Corporate Insolvency and Governance Act 2020 was introduced in order to help businesses during the Covid-19 pandemic. Restructuring plans can be used to compromise both secured and unsecured debt.

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Credit Corp

FEBRUARY 20, 2025

Its different from debt consolidation , which involves combining multiple debts into a single loan, and debt management, which typically involves a credit counseling agency helping you create a budget and manage your payments. Government-funded loans, like student loans or federal taxes, arent typically eligible for settlement.

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Taurus Collect

NOVEMBER 15, 2023

Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters. In this post, we will explore the rights and regulations governing debt collection in the UK.

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BN Lawyers

MARCH 23, 2020

For an unsecured creditor to obtain a recovery, it would need to engage in a months-long legal process to obtain a judgment that could be halted at any point by a chapter 11 bankruptcy reorganization. Lines of credit and credit cards with available balances are exceptions. Lower-cost credit may become available.

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Debt Free Colorado

MARCH 3, 2023

What Debts are Discharged in Bankruptcy? Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged.

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Debt RR

AUGUST 3, 2020

When a creditor or a government authority sues a business or individual for an unpaid debt, one of the options for settling is for the court to give the creditor the right to pull the funds from a bank account. Review this guide for everything businesses need to know about bank account garnishment in Texas and how to avoid it.

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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.

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Troutman Sanders

MAY 2, 2023

Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work. Government Money Market Fund.” government securities, cash, and repurchase agreements collateralized by U.S. For more information, click here.

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