Sawin & Shea

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Unlike unsecured personal loans, secured loans involve some form of collateral that the lender can repossess if the borrower fails to make payments. Repossession deficiency claims.

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Credit Corp

MARCH 12, 2025

Consult a lawyer: If you are unsure how to draft your response or need help asserting defenses, consult a lawyer or a legal aid organization. Many provide free or low-cost assistance for debt-related cases. It dismisses unsecured debts such as credit card balances and can help resolve multiple financial burdens in one process.

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Debt collector Credit Card Debt Creditors Bankruptcy 52

Sawin & Shea

OCTOBER 27, 2021

Indiana residents also struggle heavily with medical costs with an estimated 47% of Hoosiers having medical debts. If you’re struggling with medical debts, we encourage you to contact medical bill lawyers to go over options to make your medical debt more manageable. Indiana’s Medical Debt.

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Chapter 13 bankruptcy Bankruptcy Unsecured Debt Lawyers 52

Sawin & Shea

DECEMBER 7, 2022

With Chapter 7 bankruptcy , you reaffirm your secured debts while discharging unsecured debts. Secured debts refer to debts with collateral, such as a home or car. Most of the time, Chapter 7 filers are able to reaffirm their mortgages as long as they are not behind on payments. .

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 98

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.

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Chapter 7 bankruptcy Creditors Garnishment Unsecured Debt 52

Debt Free Colorado

NOVEMBER 28, 2024

Generally, attorney fees are treated similarly to other unsecured debts. Under Chapter 7 bankruptcy, all unsecured debts—including attorney fees—can be discharged. Most unsecured debts, including attorney fees, are quickly eliminated in Chapter 7. It can help smoothen the process for both client and lawyer.

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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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Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

NOVEMBER 1, 2023

However, while bankruptcy can help, it’s important to understand how the process works, especially concerning your medical debt. At Sawin & Shea, our team of Chapter 7 and Chapter 13 bankruptcy lawyers is here to help. Medical debts are also considered a necessity, which means they are protected under the “necessity” doctrine.

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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. Do I Need a Lawyer to File for Bankruptcy? Are There Lawyers Who Can Help with Bankruptcy? The answer is yes.

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Sawin & Shea

SEPTEMBER 6, 2023

In other words, a Chapter 13 Plan can reorganize debts in ways that can help struggling homeowners get back on track with their mortgage payments, curing arrearages and making ongoing monthly payments. Unsecured debts like medical and credit card debt are forced to wait while you are given an opportunity to catch up.

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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.

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Sawin & Shea

DECEMBER 28, 2023

The money repaid goes primarily toward important priority debts like mortgages, car loans, taxes, and support obligations first. The remainder pays off a fraction of lower-priority debts such as credit cards, medical bills, and utilities. Ultimately, balances on most types of unsecured debts are discharged at the end of a plan.

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Sawin & Shea

OCTOBER 11, 2023

It is important to understand that in either form of bankruptcy (Chapter 7 or Chapter 13), there are types of debt that cannot be discharged even after filing for bankruptcy. In broad terms, bankruptcy law differentiates between consumer-related debt as well as secured vs. unsecured debt.

Bankruptcy 52

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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.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Debt Free Colorado

OCTOBER 25, 2024

Bankruptcy lawyers in Denver, CO can also help you with the process. Business bankruptcy allows businesses struggling with debt to have a renewed financial status. Discharge of Debts: After liquidation, any remaining unsecured debts are discharged. How Can a Lawyer Help Me With Bankruptcy?

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Burr Forman

SEPTEMBER 30, 2020

Atlanta Partner Erin Hewitt has been recognized as an “agent of change” in the American Lawyer Media publication of Georgia Trailblazers for 2020. Erin has experience in all aspects of complex secured and unsecured debt financings, corporate mergers & acquisitions, and various sophisticated real estate transactions.

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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. So, talk to a lawyer and get the information you need to make the best decision in your case.

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Sawin & Shea

APRIL 17, 2024

The reason why creditors prefer you file Chapter 13 is because Chapter 7 bankruptcy discharges unsecured debts after the trustee liquidates nonexempt assets. This means that unsecured creditors, such as credit card companies, won’t receive what the debtor owes.

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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. WHEN SHOULD I TALK TO A LAWYER? A lawyer could help at any stage, including the legal aspects of your business plan.

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Sawin & Shea

FEBRUARY 28, 2024

The Chapter 13 plan reorganizes your various debts, including personal loans, into a monthly payment plan that lasts three to five years after your filing date. Unlike Chapter 7 , you’ll pay part of the money you owe on unsecured debts, but most Chapter 13 payment plans reduce the total amount you’ll need to pay.

Personal loans 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Sawin & Shea

FEBRUARY 23, 2022

At the end of your scheduled payments, the remaining balances on unsecured debts such as credit cards, deficiency claims, eviction balances, and medical bells will be discharged. Our lawyers have years of experience assisting Indiana residents through the bankruptcy process.

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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.

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Sawin & Shea

MARCH 27, 2024

You’re not required to have legal representation in the meeting, but it’s best to have a bankruptcy lawyer to support and assist you. After completing your required courses and undergoing the liquidation process, you’ll be able to discharge certain debts. Will My Bankruptcy Filing Impact My Current Employment?

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Sawin & Shea

OCTOBER 20, 2021

If you are applying for bankruptcy to have the same debts discharged that were denied a discharge in the first case, you likely won’t be eligible to discharge unsecured debts that were or could have been listed in Chapter 7. Your only option to deal with those debts in bankruptcy is to file a Chapter 13.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Unsecured Debt 52

Sawin & Shea

OCTOBER 20, 2021

If you are applying for bankruptcy to have the same debts discharged that were denied a discharge in the first case, you likely won’t be eligible to discharge unsecured debts that were or could have been listed in Chapter 7. Your only option to deal with those debts in bankruptcy is to file a Chapter 13.

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Collection Industry News

SEPTEMBER 29, 2020

First, the total amount of secured plus unsecured debt may not exceed $7.5 million, counting only noncontingent, liquidated, and non-insider debt. Second, at least half of the debt that is counted must have arisen from the debtor’s “commercial or business activities.”. To qualify, businesses must meet two criteria.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. 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. We recognize that you have many questions and that you want them all answered.

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

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BN Lawyers

SEPTEMBER 30, 2019

Additionally, hundreds of adversary proceedings have been filed, or will be, by various Trustees and Committees charged with pursuing the return of potentially billions of dollars to the Commonwealth for the benefit of creditors.

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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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