Utility Bills and Bankruptcy

Sawin & Shea

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. This gives you time to get your bankruptcy case started to avoid this from happening.

Utility Bills and Bankruptcy

Sawin & Shea

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. This gives you time to get your bankruptcy case started to avoid this from happening.

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Why People Resist Bankruptcy

Sawin & Shea

Bankruptcy is a smart, legal, and effective way to wipe out a mountain of old debts. There are many reasons why people resist bankruptcy, but some are based on fiction rather than facts. If you think bankruptcy is rare, think again. Feeling Resistant to Bankruptcy?

Bankruptcy and Your Job

Sawin & Shea

One issue that you may worry about when filing for bankruptcy is whether or not it will affect your employment. Bankruptcy Code (11 U.S. Code § 525 – Protection against discriminatory treatment) it is illegal to fire someone simply because they have filed for bankruptcy.

Bankruptcy and Unemployment

Sawin & Shea

In this situation, you may be wondering whether bankruptcy could be a good solution. Let’s look at how bankruptcy works when you’re unemployed and whether this could be a path to clearing away all that old debt. Income Requirements for Bankruptcy.

Bankruptcy and Tax Refund Strategies

Sawin & Shea

For someone who’s pursuing Chapter 7 bankruptcy , this is especially important. Chapter 7 bankruptcies are liquidation bankruptcies, meaning non-exempt assets can be liquidated to pay your creditors back something. The Timing Matters for Your Bankruptcy Tax Strategy.

The CARES Act, Consumer Bankruptcy, and Mortgage Servicing

Sawin & Shea

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. However, the situation was a bit more complicated for those already in bankruptcy or considering it.

Eviction and Bankruptcy

Sawin & Shea

Although filing for bankruptcy can solve many of the issues you are dealing with, ease your stress level, and give you a chance to breathe, it cannot remove all of your worries. How does filing for bankruptcy affect a possible eviction?

The Automatic Stay and Bankruptcy

Sawin & Shea

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions.

The Automatic Stay and Bankruptcy

Sawin & Shea

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions.

Credit Card Debt and Bankruptcy

Sawin & Shea

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments.

Credit Reporting During and After Bankruptcy

Sawin & Shea

Have you wondered what will happen to your credit report during and after your bankruptcy? When you’re working with a bankruptcy attorney at Sawin & Shea, one of the services we offer is reviewing your credit report. Your Credit Report as Part of Your Bankruptcy.

Credit Card Debt and Bankruptcy

Sawin & Shea

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments.

How Is Household Size Determined in Bankruptcy?

Sawin & Shea

Determining household size is an important measurement when facing bankruptcy. In fact, correctly determining household size can determine your eligibility for Chapter 7 bankruptcy. If your income is below the median, you are considered eligible for a Chapter 7 bankruptcy.

Getting Approved for a Loan After Bankruptcy

Sawin & Shea

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. Chapter 7 bankruptcy: In this type of bankruptcy, your non-exempt assets (if any) have been liquidated to pay off a percentage of your debts.

Bankruptcy and Your 2021 Stimulus Check

Sawin & Shea

But for those contemplating bankruptcy, it brought a new worry. Will bankruptcy take away my stimulus check?”. This has become a common question for bankruptcy attorneys across the nation. So let’s clear up your concerns about bankruptcy and your stimulus money.

What are Preferential Payments in Bankruptcy?

Sawin & Shea

Prior to filing for bankruptcy, it is not uncommon for debtors to feel as though they have to make tough decisions regarding which creditors they can pay and which ones they can’t. These payments made to some creditors over others can be considered preferential payments in bankruptcy cases.

What are Preferential Payments in Bankruptcy?

Sawin & Shea

Prior to filing for bankruptcy, it is not uncommon for debtors to feel as though they have to make tough decisions regarding which creditors they can pay and which ones they can’t. These payments made to some creditors over others can be considered preferential payments in bankruptcy cases.

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2021

In the Red

. Each year amendments are made to the Federal Rules of Bankruptcy Procedure, which govern how bankruptcy cases are managed. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others.

Bankruptcy figures hit 22 year record low

UK debt collections

The number of individuals entering bankruptcy has hit a record 22-year low with only 1,938 bankruptcies occurring in the third quarter of 2021. Of the 1,938 bankruptcies in the quarter, the Insolvency Service report that only 11% have arisen because of creditor petitions.

How Often Can I File for Bankruptcy?

Sawin & Shea

Filing for bankruptcy a first time is challenging enough, let alone trying to file a second time. However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. Filing Again After Chapter 7 Bankruptcy.

How Often Can I File for Bankruptcy?

Sawin & Shea

Filing for bankruptcy a first time is challenging enough, let alone trying to file a second time. However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. Filing Again After Chapter 7 Bankruptcy.

Do You Have to Get Debt Counseling Before Bankruptcy?

Sawin & Shea

Filing for bankruptcy is a process. As part of that process, the bankruptcy law requires that you get a certificate that evidences you did a pre-filing counseling session with an approved agency. It also talks about using repayment plans instead of declaring bankruptcy.

Can I Travel While Filing for Bankruptcy?

Sawin & Shea

However, the requirements for Chapter 7 and Chapter 13 Bankruptcy are different, so we’ll discuss each of them separately. Chapter 13 Bankruptcy is different from Chapter 7 Bankruptcy because you will be on a court-mandated payment plan to repay most of your debts.

Filing Bankruptcy Without Your Spouse: What Happens to Debts & Property?

Sawin & Shea

If you’re married and considering bankruptcy in Indiana, you’re probably wondering whether you can file alone and how this could impact your spouse. This is one of the most common questions for bankruptcy attorneys. Yes, you can file bankruptcy without your spouse.

How are Medical Bills Treated in Chapter 13 Bankruptcy?

Sawin & Shea

Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. Chapter 13 bankruptcy is discussed below.

What You Need to Know About Medical Bankruptcy

Sawin & Shea

up to 62% of bankruptcies now include significant medical debt. Many people are turning to medical bankruptcy, which is a bankruptcy that wipes out all bills related to an expensive health situation. Discharging Debt with Medical Bankruptcy in Indiana. Bankruptcy Code.

How Long Does a Bankruptcy Stay on Your Credit Report?

Sawin & Shea

If you are thinking of filing for Chapter 7 or Chapter 13 bankruptcy, or if you have already filed, you may be concerned about how long the bankruptcy will stay on your credit report. The situation is more complicated with Chapter 13 bankruptcy.

When Is the Right Time to Be Thinking About Bankruptcy?

Sawin & Shea

If you have been hit hard by the economic upheaval of the coronavirus, filing for bankruptcy may be your best option. At What Point Should I Start Thinking About Bankruptcy? However, selling your possessions may be better left for later if you see bankruptcy at all in your future.

Inheritance and Bankruptcy

Sawin & Shea

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. Bankruptcy Basics Bankruptcy Law

COVID-19 Bankruptcies

Debt

American consumers will be filing personal bankruptcies in record numbers by the end of 2020. That is the projection from bankruptcy attorneys, bankers and other experts who project that the COVID-19 era will lead to a historic financial tsunami. Bankruptcy COVID-19

The CARES Act, Consumer Bankruptcy, and Mortgage Servicing

Sawin & Shea

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. However, the situation was a bit more complicated for those already in bankruptcy or considering it.

Debts That Can’t Be Discharged During Bankruptcy

Sawin & Shea

It’s tempting to believe that filing for bankruptcy is like having a magical wizard wave his wand to make all of your problems disappear. Taking that into account, we’ll focus on Chapter 7 Bankruptcy. of the people who file for bankruptcy cite medical issues as the main reason.

If I File for Bankruptcy, Will My Spending Be Monitored?

Sawin & Shea

It’s normal to have a lot of questions about the process and impact of bankruptcy. Even though there are hundreds of thousands of Americans who file for bankruptcy every year, it is still a pretty mystifying experience for most people. Filing for bankruptcy is not the end.

Second Mortgage Lien Stripping With Chapter 13 Bankruptcy

Sawin & Shea

Chapter 13 bankruptcy offers the option of lien stripping. Under current bankruptcy law, this lien stripping is only available in Chapter 13 bankruptcy. Why You Can Strip Liens with Chapter 13 Bankruptcy.