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What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

OCTOBER 26, 2022

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation.

Personal loans

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

Personal loans

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Questions to Ask a Chapter 7 Bankruptcy Lawyer Before Filing for Bankruptcy

Sawin & Shea

MARCH 7, 2023

If you’re struggling with debt and considering bankruptcy, speaking with a bankruptcy lawyer can help you determine your best options and give you some clarity on how the process works. At Sawin & Shea, LLC, our Chapter 7 Bankruptcy lawyers have helped clients just like you in the Indianapolis and surrounding areas.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

DECEMBER 9, 2021

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. The means test decides who can seek debt relief. medical debt

Chapter 13 bankruptcy

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Discharging Debt in Denver? Can You Include Your Bankruptcy Attorney Fees?

Debt Free Colorado

NOVEMBER 28, 2024

Quick Summary: Bankruptcy is a legal process that offers relief from overwhelming debt for individuals and businesses. Certain debts—such as credit card debt, medical bills, and personal loans—can be discharged. However, not all debts can be discharged. This provides relief from significant healthcare costs.

Chapter 13 bankruptcy

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How to Stop Creditor Harassment

Debt Free Colorado

JUNE 18, 2024

Quick Summary: Chapter 7 bankruptcy allows individuals to discharge most unsecured debts. Creditor harassment is any aggressive or threatening communication from a debt collector. Wage garnishment is a legal procedure where a creditor obtains a court order to withhold part of your earnings from your paycheck to repay a debt.

Chapter 7 bankruptcy

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. Bankruptcy legal fees are an investment in finally resolving your debt for good.

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Can I File Bankruptcy on Just My Credit Cards?

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. What other debts do I owe?

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When Should You File for Bankruptcy?

Sawin & Shea

AUGUST 2, 2023

Chapter 7 Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and includes rules to protect assets that are classified as exempt at the time you file. Unsecured debt includes things like credit card debt, medical debt, and personal loans.

Bankruptcy

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What Debts Are Not Discharged in Bankruptcy?

Sawin & Shea

OCTOBER 11, 2023

In broad terms, bankruptcy law differentiates between consumer-related debt as well as secured vs. unsecured debt. If a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay.

Bankruptcy

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Should I Pay Back Family Members or Friends Before Filing for Bankruptcy?

Sawin & Shea

APRIL 12, 2023

In most cases, Chapter 7 rules protect assets that are classified as exempt at the time you file versus unsecured debt which is not protected. Unsecured debt includes things like credit card debt, medical debt, and personal loans. Chapter 7 looks at assets that you owned at the time you filed.

Bankruptcy

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

APRIL 17, 2024

Chapter 13 Bankruptcy Discharge Once you complete paying off your repayment plan over three to five years, the court will discharge your eligible debts. You will not be able to discharge: Family and child support Most student loans Most local, state, and federal taxes How Does Filing Bankruptcy Impact Your Standing with Credit Bureaus?

Chapter 13 bankruptcy

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What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

Credit Corp

MAY 3, 2023

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Definitely talk to your bankruptcy lawyer about which property you want to keep and whether it’s possible. Do you have your own business and need to include business debts in your bankruptcy?

Chapter 13 bankruptcy

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Can You Reaffirm a Debt in Chapter 13?

Sawin & Shea

MARCH 13, 2024

Once you prepare all necessary forms and complete credit counseling, you or your lawyer will file your bankruptcy petition. You are required to complete this course within 45 days of your 341 meeting to discharge your debt. Common types of dischargeable debts include credit card debt , personal loans, and unpaid medical bills.

Chapter 7 bankruptcy

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What Assets Do You Lose in Chapter 7?

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. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

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Can You Buy a House After Chapter 7 with a Co-Signer?

Sawin & Shea

MAY 8, 2024

Keep your credit utilization low by paying down high-interest debt like credit cards, car loans , and personal loans when working toward owning a house after bankruptcy. Avoid taking on new debt, unsecured debts , or a car loan until your credit score improves.

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Creditor Collections Today

What Happens to My Personal Loan After Bankruptcy?

What Happens After a Personal Loan Bankruptcy Discharge?

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Questions to Ask a Chapter 7 Bankruptcy Lawyer Before Filing for Bankruptcy

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Should I Pay Back Family Members or Friends Before Filing for Bankruptcy?

Does Chapter 13 Wipe All of Your Credit?

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What Assets Do You Lose in Chapter 7?

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