Sawin & Shea

AUGUST 23, 2023

With these kinds of figures, it isn’t surprising that we often get the question from clients: Does filing for bankruptcy eliminate debt? Bankruptcy Explained Bankruptcy is a powerful legal process that can help individuals or businesses that are overwhelmed by debt get a fresh start and a path to rebuild.

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Credit Corp

MAY 3, 2023

If you decide to file for bankruptcy, you must next decide which type of bankruptcy is right for you. Most individuals have three options, and understanding Chapter 11 vs. Chapter 13 vs. Chapter 7 is important in making the right decision. What Is Chapter 11 Bankruptcy?

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Debt Free Colorado

DECEMBER 9, 2021

Choosing Between Chapter 7 and 13. Are you considering bankruptcy? Whether it’s Chapter 7 or 13, you have options. Bankruptcy is a challenging, life-altering experience. . Chapters 7 and 13 of the Bankruptcy Code – Awareness. Chapter 7 (Liquidation).

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Sawin & Shea

MARCH 13, 2024

If you’re considering bankruptcy, you may wonder which filing type is right for you. The two basic types of bankruptcy classifications for individuals and families are Chapter 7 and Chapter 13. A common question we receive regarding these forms is whether you can reaffirm a debt during the process.

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Sawin & Shea

JANUARY 4, 2024

Filing for Chapter 13 bankruptcy is a positive step during a challenging time in your life. Instead of fighting with your creditors, you work with them proactively in the bankruptcy process to resolve your debts. In some cases, you may be eligible for a Bankruptcy Hardship Discharge.

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Sawin & Shea

JANUARY 5, 2022

Filing for bankruptcy is often a necessary yet scary and confusing process for debtors. No one plans to accumulate so much debt that they can’t pay it back, but things happen. While you may not want to file bankruptcy, it is often the best choice if you are struggling to get by. Pre-Petition Debts.

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Sawin & Shea

AUGUST 24, 2022

Declaring bankruptcy can be incredibly daunting, but sometimes it’s the best option for moving forward to financial freedom. If you’re at risk of losing your home, Chapter 13 bankruptcy could be your best option. Even with the helpful resources on our site and other sites, filing for bankruptcy can be incredibly confusing.

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Roths Child Law

JANUARY 31, 2023

If these options are not possible, you may consider filing for bankruptcy. No matter how you handle it, bankruptcy can have a lasting impact on your life. If you handle it right, bankruptcy can give you the relief you need to get back on your feet financially. And if you mismanage it, bankruptcy can compound your financial woes.

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Debt Free Colorado

JANUARY 10, 2022

When someone finds themselves in financial distress, they may consider filing for bankruptcy. But just like choosing a doctor or an in-law, not all forms of bankruptcy are the same and selecting the wrong one can wind up doing more harm than good. . Which type of bankruptcy should you take? Bankruptcy Defined.

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Sawin & Shea

JANUARY 11, 2024

Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. In short, they prepare you for the challenges that come with rebuilding your finances after bankruptcy.

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Sawin & Shea

FEBRUARY 21, 2024

Debts can pile up quickly and overwhelm your finances before you have a chance to catch up. Because of this, filing for bankruptcy is often one of the only options you may have. Can You File for Bankruptcy Due to Gambling Debt? However, not all types of bankruptcy allow for the full discharge of gambling debt.

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Debt Free Colorado

DECEMBER 30, 2023

Bankruptcy is Not Always Disadvantageous for Your Retirement Savings In today’s economic landscape, unforeseen challenges can lead individuals to consider bankruptcy as a viable option. One crucial aspect that often concerns people contemplating bankruptcy is the fate of their retirement savings.

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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

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.

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Sawin & Shea

MARCH 9, 2022

When facing bankruptcy, many wonder how much debt is needed to file bankruptcy. There is no minimum amount of debt you need in order to file for bankruptcy, but there are other critical factors you need to take into consideration before filing under Chapter 7 or Chapter 13.

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Roths Child Law

DECEMBER 15, 2021

One option that you have is to file for bankruptcy. This gives you the chance to take care of your debts and start fresh. If you file a Chapter 7 bankruptcy, your non-exempt debts are liquidated so creditors can receive some payment for your accounts. Car loans and mortgages are types of secured debts.

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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. Key Takeaways.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Sawin & Shea

JULY 15, 2020

When you’re considering Chapter 13 bankruptcy, you’re also wondering how much of your debt you’d be obligated to pay back. Let’s take a look at a debtor’s obligations under Chapter 13 bankruptcy. What Is A Chapter 13 Bankruptcy Plan? There will also be some attorney fees and a bankruptcy filing fee.

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Sawin & Shea

APRIL 12, 2023

So should you pay back your family and friends before filing for bankruptcy? There are no advantages to repaying family or friends within a certain time period before filing for bankruptcy. What is the Difference Between Chapter 7 and Chapter 13? The shortest answer to this question is no.

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Albuquerque Law

MAY 19, 2020

The simple answer is no – regardless of how much debt an individual has, they have options to achieve debt relief. However, the amount of debt they have could influence which chapter of bankruptcy they file. These debt caps are not meant to prevent individuals from achieving debt relief either.

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Collection Industry News

DECEMBER 21, 2020

proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it easier for consumers to access the bankruptcy system and discharge their debts. Below is a discussion of 10 critical changes proposed in the Consumer Bankruptcy Reform Act of 2020 (CBRA).

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Sawin & Shea

JANUARY 25, 2022

Dealing with debt can be scary and overwhelming, especially if you don’t know what will happen if you miss too many payments and default or have to file bankruptcy. While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation.

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Debt RR

DECEMBER 13, 2019

Past-Due Secured Debt. Just like individuals, businesses often have mortgages, vehicle loans, and other secured loans. Debt can also be secured using intellectual property, equity, and other soft debt. Missing payments on secured debt causes the creditor to repossess the property as recourse.

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Debt RR

JANUARY 24, 2020

Secured debt: If a business receives a loan or other credit — like a credit card — because of specific assets or liquid collateral, they have secured debt. Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options.

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