Sawin & Shea

MARCH 6, 2024

Also, if your credit score is already quite low, you may not be able to qualify for low interest which makes debt consolidation a useful method of debt management. How Does Debt Consolidation Work? Creditors do not have to participate. The issue with these programs is that they are voluntary.

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Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt. What’s a Guarantor?

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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. So in many cases, running your credit card debt up is not worth it.

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Credit Corp

MAY 3, 2023

In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy? What Is Chapter 7 Bankruptcy? What Is Chapter 13 Bankruptcy? Should You File for Bankruptcy? What Is Chapter 7 Bankruptcy?

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. What does each one mean?

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor.

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Sawin & Shea

MARCH 20, 2024

They typically answer questions from a debtor about back taxes, filing annual tax returns, and tax penalties they may owe. A bankruptcy attorney helps someone clarify and organize their finances while getting most types of debt discharged. Do you have other debt, loans, discharged debts, or other amounts owed?

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Sawin & Shea

APRIL 5, 2023

Filing for Chapter 7 or Chapter 13 bankruptcy is sometimes the best solution for those struggling with overwhelming debt. It offers a fresh start and the opportunity to reorganize finances, discharge certain debts, and regain financial stability. Can You File Bankruptcy on Child Support?

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Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. You must qualify to file for bankruptcy, and your income must meet an income means test.

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Sawin & Shea

JANUARY 12, 2022

Debt elimination is typically one of the primary reasons a debtor will pursue bankruptcy. While filing for bankruptcy is often the best course of action if you are overwhelmed by debt and struggling to stay afloat, it’s important to understand what debts can and cannot be discharged in bankruptcy.

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Sawin & Shea

AUGUST 23, 2023

Before you decide if bankruptcy is the best option for you, it’s important to understand the two different types of bankruptcy that are available to individuals: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Most Debtors, however keep everything they have.

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Sawin & Shea

NOVEMBER 8, 2023

Factors like inflation, high interest rates, and economic uncertainty have found more and more Americans relying on credit cards to get by. In fact, Americans are at an all-time high when it comes to credit debt to the tune of $1 Trillion. On average, Americans individually carry about $7,951 in credit card debt.

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Sawin & Shea

APRIL 12, 2023

There are five different types of bankruptcy filings, but for clarity’s sake, we’ll be emphasizing Chapter 7 and Chapter 13 bankruptcy-related issues as they are two of the most common ways to file. What is the Difference Between Chapter 7 and Chapter 13? Who Is an Insider?

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Sawin & Shea

AUGUST 2, 2023

Many people ask, when should you file for bankruptcy? There are many reasons someone might file for bankruptcy. Bankruptcy Relief Filing for bankruptcy can not only assuage the anxiety and guilt associated with insolvency, but it can provide much-needed relief from creditors’ harassing phone calls.

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Sawin & Shea

NOVEMBER 15, 2023

Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. Secured vs Unsecured Debt: What’s the Difference?

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Sawin & Shea

MARCH 27, 2024

This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you. You’ll also be assigned a trustee to manage your bankruptcy case. The bankruptcy discharge will eliminate your unsecured debts , including unpaid medical bills and credit card debt.

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Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. trillion in credit card debt. What Is Debt Forgiveness? What Is Debt Forgiveness?

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Sawin & Shea

DECEMBER 7, 2022

If you’re already in the middle of filing for bankruptcy, any new debt that you accumulate will not be discharged. This includes credit card debt, so try to avoid racking up a substantial balance this season. Those who are about to file for bankruptcy should also avoid accumulating substantial debt.

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Debt Free Colorado

DECEMBER 9, 2021

Chapters 7 and 13 of the Bankruptcy Code – Awareness. Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. You should get legal assistance from a knowledgeable bankruptcy attorney in Denver.

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Sawin & Shea

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

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Better Credit Blog

JANUARY 11, 2022

About Bankruptcy. If a person or a business can no longer meet their outstanding debts, they can begin the legal proceeding known as bankruptcy. When this happens, the debtor files a petition to a federal bankruptcy court in which their assets are measured and evaluated. ” How To File For Bankruptcy.

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