Debt Guru

JANUARY 24, 2022

And the consequences will impact your financial situation for many years. Consequence #1: Finance Charges. Consequence #2: Penalty APR. Consequence #3: Long-Term Penalty APR. Consequence #4: Credit Score Impact. Consequence #5: Poor Credit. Consequence #6: Repayment “Reminders” Increase.

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Sawin & Shea

AUGUST 17, 2022

There are two primary types of bankruptcies that a person might file when struggling to pay their debts: Chapter 7 and Chapter 13. In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. Ways Debtors Try to Hide Their Assets in Bankruptcy.

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy. Bankruptcy dismissals have nothing to do with unloading debts.

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Sawin & Shea

AUGUST 2, 2023

The good news – the light at the end of the tunnel – is that there is an excellent way to ease these fiscal-related woes: filing for bankruptcy. What is the Best Time to File for Bankruptcy? Many people ask, when should you file for bankruptcy? There are many reasons someone might file for bankruptcy.

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Roths Child Law

JUNE 9, 2023

However, it's rare for someone to plan for bankruptcy, as it's associated with negative aspects, and some people believe they can't experience it - they save and make the right financial moves. As a result, they may not take time to learn about bankruptcy. So, who needs to be informed about bankruptcy? Can you avoid bankruptcy?

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Sawin & Shea

SEPTEMBER 6, 2023

People file for bankruptcy for any number of reasons, from job loss to unpaid medical bills to an unaffordable mortgage. If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021.

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Sawin & Shea

JULY 27, 2022

Debtors who run their credit card balances up before they file for bankruptcy could suffer consequences. Primarily, it could result in your debt becoming ineligible for discharge, which is often the whole point of filing for bankruptcy. Understanding Credit Card Debt and Bankruptcy.

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Sawin & Shea

JUNE 14, 2022

Most people enter into bankruptcy because they are experiencing financial hardship. However, though a person can be struggling at the time they file, this does not mean it isn’t possible for their financial situation to greatly improve while they are still paying off their Chapter 13 bankruptcy plan. In most cases, the answer is no.

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Roths Child Law

MAY 26, 2023

When debt becomes overwhelming and difficult to manage, filing for bankruptcy can provide a fresh start and relief from mounting financial burdens. However, despite its potential benefits, some people hesitate to consider bankruptcy a viable solution. While bankruptcy does have implications, every individual’s situation is unique.

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PBWT

OCTOBER 15, 2020

It seems to be a common misunderstanding, even among lawyers who are not bankruptcy lawyers, that litigation in federal bankruptcy court consists largely or even exclusively of disputes about the avoidance of transactions as preferential or fraudulent, the allowance of claims and the confirmation of plans of reorganization.

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Roths Child Law

DECEMBER 30, 2020

If you are struggling to make payments on a second mortgage, it may be possible to file bankruptcy in an effort to have the debt discharged. What type of bankruptcy protection should you seek? While you're allowed to file for bankruptcy on your own, it may be in your best interest to do so with the help of an attorney.

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Sawin & Shea

JULY 5, 2023

Declaring Chapter 7 bankruptcy may be the best solution in cases like this. However, there are some consequences of declaring Chapter 7, and it’s important to understand that doing so doesn’t completely wash away all evidence of the initial situation. What is Chapter 7 Bankruptcy? But what exactly is a Chapter 7 bankruptcy?

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Hudson Weir

DECEMBER 24, 2021

If you want or need to know how to declare bankruptcy in England, we can walk you through the process step by step. The first thing to note is that in England, technically bankruptcy should only apply to individuals or partners, rather than companies. Personal bankruptcy laws in England come from the Insolvency Act 1986. .

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Troutman Sanders

JANUARY 20, 2023

Creditors and debt collectors may rest assured that they are not violating the Fair Debt Collection Practices Act (FDCPA) when sending debt-collection communications prior to any knowledge of a debtor’s bankruptcy filing. CICA), of his bankruptcy filing prior to the debt-collection communication at issue. In Carrasquillo v.

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Roths Child Law

OCTOBER 1, 2021

When hard times hit, declaring bankruptcy may be the most sensible thing to do. Essentially, bankruptcy is a legal process that is designed to provide debt relief for individuals or businesses that are unable to pay their bills. Bankruptcy is meant to help honest people who find themselves in difficult debt situations. .

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Sawin & Shea

AUGUST 11, 2021

Bankruptcy is a dark time during one’s life, and the passing of a loved one can make it even darker. Unfortunately, there are rules to follow when it comes to inheritance and bankruptcy, so it’s important not to become blinded by that light. What Is the Chapter 7 Approach to Inheritance? What should you do?

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Better Credit Blog

JANUARY 11, 2022

If you find yourself saddled with more debt than you can reasonably pay off in a timely manner, you can always file for bankruptcy. But sometimes bankruptcy is the best way to get a new start so you can then stay on top of your finances, and with hard work, you can begin to turn your financial life around. About Bankruptcy.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff The families of the victims of the Sandy Hook shooting sued Alex Jones in a Connecticut state court, and his company, Free Speech Systems, in a Texas state court. [1] 2] A Subchapter V case differs from a traditional Chapter 11 case in several ways. million.

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Roths Child Law

OCTOBER 18, 2021

Filing for bankruptcy is a serious decision that can have far-reaching consequences to your life, even years down the line. . As you are likely aware, there are two types of bankruptcy that consumers can choose to file. There's Chapter 7 bankruptcy, which involves the liquidation of some of your assets.

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Titan Consulting

APRIL 26, 2020

Before you begin asking for financial assistance, it’s essential to understand both the options for immediate relief and the long-term economic consequences of delaying payments. What are the Long-term Consequences of a Mortgage Forbearance? Some payment waivers could come back to haunt you.

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Sawin & Shea

SEPTEMBER 22, 2021

If you are married and preparing to file for bankruptcy, you may be wondering how it will affect your spouse. While you can file individual bankruptcy, there are still potential consequences for your spouse. What Happens to Our Property When I File for Bankruptcy? Common-Law Property.

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Sawin & Shea

SEPTEMBER 22, 2021

If you are married and preparing to file for bankruptcy, you may be wondering how it will affect your spouse. While you can file individual bankruptcy, there are still potential consequences for your spouse. What Happens to Our Property When I File for Bankruptcy? Common Law Property.

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Sawin & Shea

APRIL 26, 2023

A judgment lien against you can have a variety of distressing and negative consequences. What Are the Negative Consequences of a Lien A judgment lien can have several negative consequences. If that’s not possible for you, another option is to avoid it through Chapter 7 or Chapter 13 bankruptcy court.

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Fraser

SEPTEMBER 28, 2020

When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. But it’s often not that easy, and the negative consequences of doing it wrong can be severe. The bankruptcy court will establish a deadline, or “bar date,” by which claims must be filed.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In Moyal v. 2] After the action was removed to SDNY, MGKG filed for bankruptcy in Germany. [3] 3] Consequently, all previously filed actions against MGKG were automatically stayed under German law. [4] Sarah Franzetti. John’s University School of Law. KG (“MGKG”). [2]

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case.

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Nexa Collect

JUNE 23, 2023

Some debtors might try to pay the debt as soon as possible to avoid further consequences, even if this means making financial sacrifices elsewhere. They may also look into options like debt consolidation or bankruptcy. Ignoring the letters can have further consequences, such as lawsuits and garnishments.

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Sawin & Shea

NOVEMBER 15, 2023

If you’re struggling with financial hardship, filing for bankruptcy can be an effective way to get back on your feet. But filing for bankruptcy in Indiana doesn’t mean every outstanding debt you’ve ever incurred gets wiped away. Declaring bankruptcy will discharge most types of debt but not others. What do we mean by this?

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Nerd Wallet

JULY 23, 2021

Get out of default: Learn the consequences of and remedies for defaulting on your student debt. Declare bankruptcy: Explore how to discharge student debt. If you need solutions for your student debt: Find help: Options for legit student loan help resources and organizations to contact. Anna Helhoski writes for NerdWallet.

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Nerd Wallet

AUGUST 17, 2020

economy as businesses both big and small cut back, close and declare bankruptcy. Consequently, a reported 16.3 The coronavirus pandemic continues to disrupt the U.S. million Americans were unemployed in July compared to just over 6 million the previous year, according to the Bureau of Labor Statistics.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . Under section 365(d)(3) of title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor in possession must generally pay rent in accordance with the terms of an unexpired lease. Pier 1”) filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code.

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BN Lawyers

JUNE 12, 2019

Bankruptcy Court for the Northern District of Texas in the case of In re: Essential Financial Education, Inc. held that an involuntary bankruptcy petition filed under 11 U.S.C. Involuntary Bankruptcy Petition requirements . The Bankruptcy Court Ruling. The bankruptcy court disagreed.

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Roths Child Law

DECEMBER 17, 2021

Many cancer survivors eventually turn to bankruptcy. times as likely as someone who has never had cancer to file for bankruptcy. Bankruptcy is a solution for cancer-related debt. Especially if a medical creditor has served you with lawsuit paperwork, filing for bankruptcy may be a smart decision.

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PBWT

MAY 17, 2020

As a consequence, on 27 March 2020, US lawmakers signed the Coronavirus Aid, Relief, and Economic Security Act (the ‘CARES Act’) into law. COVID-19 is taking an alarming and unfortunate toll on the world’s population. In the United States, the number of COVID-19-related deaths will soon approach 75,000. It provides USD 2.2

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PBWT

MAY 4, 2021

Debtors who ignore instructions from the Bankruptcy Court do so at their own peril, as a recent case from the First Circuit Court of Appeals illustrates. The debtor moved to convert his case to Chapter 11, which the bankruptcy court granted. The debtor moved to convert his case to Chapter 11, which the bankruptcy court granted.

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Troutman Sanders

MARCH 16, 2023

On March 16, the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin entitled Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts. The compliance bulletin focused on the treatment of certain private student loans following a bankruptcy discharge.

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UK debt collections

JANUARY 30, 2024

Over the last 12 months, bankruptcies in the construction sector were mainly caused by specialised activities such as demolition, electrical and plumbing – which accounted for 58% of all bankruptcies. This can have a detrimental effect on their own finances, leading to potential bankruptcy or insolvency.

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