Sawin & Shea

OCTOBER 11, 2023

People file for bankruptcy for any number of reasons, from job loss, to unpaid medical bills , to sky-high credit card bills. And it’s not an uncommon event either– roughly 375,000 people filed for bankruptcy in 2022 alone. There are some debts that filing for bankruptcy will not discharge. What do we mean by this?

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Sawin & Shea

AUGUST 9, 2023

Credit card debt is a huge reason people end up filing for bankruptcy. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems.

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Debt Free Colorado

DECEMBER 9, 2021

Are you considering bankruptcy? Bankruptcy is a challenging, life-altering experience. . If you are considering consulting with an attorney about your debt-relief options, it is essential to remember that each type of bankruptcy comes with its advantages and disadvantages. . Advantages of Chapter 7 Bankruptcy.

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Sawin & Shea

MARCH 7, 2023

Are you wondering how to file bankruptcy Chapter 7? Or if filing for bankruptcy is right for you? If you’re struggling with debt and considering bankruptcy, speaking with a bankruptcy lawyer can help you determine your best options and give you some clarity on how the process works. What is Chapter 7 Bankruptcy?

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Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Briefly, unsecured debts are not backed by any collateral. Credit card and medical debt are examples of unsecured debt.

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Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. Should I File Bankruptcy Before or After Divorce?

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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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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

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy.

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Sawin & Shea

APRIL 17, 2024

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

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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

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. What Is Chapter 7 Bankruptcy?

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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

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.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. million of third-party debt is set to expire early 2021. The clock is ticking for small businesses (with debt of less than $7.5 million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. By Jerrold L. million to $7.5

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Titan Consulting

SEPTEMBER 2, 2020

Credit Counseling agencies recommend debt management plans or DMPs. You make one monthly payment to the program, and the agency pays your creditors based on an approved schedule. However, the long-term interest charged at the end of the promotional period could be as high as the existing debt, limiting its usefulness.

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Jimerson Firm

JANUARY 27, 2021

If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed. SOP 50 57 2; SOP 50 55. SOP 50 57 ; SOP 50 55.

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BN Lawyers

MARCH 23, 2020

It can make the difference between being able to work out an arrangement with a landlord or equipment lessors and needing to file for a chapter 11 bankruptcy to save your business. Work with Creditors. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry.

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Debt RR

DECEMBER 13, 2019

Debts can quickly cripple a business, and negotiating more favorable terms with creditors is usually the best way out. Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. Many businesses are both debtors and creditors. Indenture Agreement Violations.

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Better Credit Blog

MAY 4, 2022

Debt Consolidation Guide. Owing money to several creditors and remembering when the monthly payments are due for all of them can be overwhelming. You can combine credit card debt, car finance, personal loans, student loans, medical bills, payday loans, and other types of unsecured debt. What is Debt Consolidation?

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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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Debt RR

AUGUST 3, 2020

When a creditor or a government authority sues a business or individual for an unpaid debt, one of the options for settling is for the court to give the creditor the right to pull the funds from a bank account. This debt can include anything from credit cards to past due balances on office space. Writ of Garnishment.

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Jimerson Firm

AUGUST 7, 2020

Importantly, the Act gives the court a new power to, similar to as in bankruptcy proceedings, stay certain actions to enforce claims against receivership property. Make a distribution of receivership property. Any other information required by the court. 714.23, Fla. 714.14, Fla.

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