Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. 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. What is the difference?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Sawin & Shea

MARCH 13, 2024

Have additional questions regarding bankruptcy or reaffirming secured debts? 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. There is a Chapter 13 Plan that controls how various debts are treated.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

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. In this blog, we discuss what assets and property a debtor may lose in Chapter 7 bankruptcy.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Sawin & Shea

AUGUST 23, 2023

Chapter 7 is also known as the “liquidation bankruptcy” because it allows individuals to liquidate all non-exempt assets to help pay off their debt. Most Debtors, however keep everything they have. Unlike Chapter 7 bankruptcy, Chapter 13 allows debtors to create a repayment plan over three to five years.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

MAY 5, 2021

It is difficult to know exactly how many because often people will use credit cards to pay off medical or other bills when they are struggling with debt, and so the reason on a survey may be “credit card debt” even though the situation began as medical debt.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Unsecured Debt Student loans 98

Sawin & Shea

MARCH 7, 2023

This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Lawyers Bankruptcy Unsecured Debt 52

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.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52