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. Have additional questions regarding bankruptcy or reaffirming secured debts? Who Is Eligible for Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Roths Child Law

JULY 31, 2023

Rebuilding credit after filing for bankruptcy can seem like a daunting task. These require a cash deposit as collateral, which then becomes your credit limit. These are loans where the money borrowed is held by the lender in a savings account while the borrower makes payments. However, it's far from impossible.

Bankruptcy 52

Bankruptcy Collateral Loans Lender 52

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?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Lawyers Bankruptcy Unsecured Debt 52

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. What do we mean by this?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Roths Child Law

MAY 13, 2024

For example, two common types of bankruptcy , Chapter 7 and Chapter 13, offer different benefits and drawbacks in the context of foreclosure. Chapter 7 Chapter 7 bankruptcy can eliminate most unsecured debts that aren’t secured by collateral, in the way that auto and home loans are.

Foreclosure 52

Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. Bankruptcy stops foreclosure before the lender takes the vehicle.

Repossession 52

Repossession Lender Collateral Bankruptcy 52

Sawin & Shea

JULY 5, 2023

Declaring Chapter 7 bankruptcy may be the best solution in cases like this. There are effects that should be considered, preferably alongside a bankruptcy attorney. What is Chapter 7 Bankruptcy? Filing for bankruptcy is more common than you might think. But what exactly is a Chapter 7 bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Creditors Collateral 52

Roths Child Law

SEPTEMBER 21, 2023

Filing for bankruptcy is a significant decision that can be simultaneously stressful and a source of relief for those who choose this path. When someone files for bankruptcy, an essential provision called the automatic stay comes into play. This turn of events is fundamental to the bankruptcy process.

Debtor 96

Debtor Creditors Bankruptcy Repossession 96

Jimerson Firm

NOVEMBER 11, 2020

Site visits allow lenders and CDCs to gain a first-hand impression of the borrower’s business operations, evaluate risks, and inventory the collateral. Frequent site visits help lenders and CDCs make prudent lending decisions by keeping them up-to-date with the condition of the collateral and the borrower’s business operations.

Collateral 98

Collateral Loans Lender Repossession 98

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. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

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?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

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.

Chapter 13 bankruptcy 122

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Student loans 122

Burr Forman

JANUARY 26, 2022

Meek have been recognized in the January 2022 issue of Lawdragon’ s “500 Leading Bankruptcy & Restructuring Lawyers” List. Lawdragon says, “The start of the pandemic brought expectations for mountains of commercial bankruptcy work. Golden was named in the Bankruptcy & Commercial Litigation specialty.

Lawyers 52

Lawyers Bankruptcy Unsecured Creditor Creditors 52

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. Bankruptcy stops foreclosure before the lender takes the vehicle.

Repossession 40

Repossession Lender Collateral Bankruptcy 40

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?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Jimerson Firm

DECEMBER 30, 2020

In the event a borrower is seriously delinquent on making payments under a SBA loan, or the SBA loan is classified in liquidation status, lenders and CDCs must develop a prudent and commercially reasonable strategy to maximize their recovery on the loan. 60 calendar days), the lender/CDC must move forward with liquidating the collateral.

Loans 98

Loans Collateral Lender Foreclosure 98

Fraser

JUNE 25, 2020

It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

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. What is Secured Debt?

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Jimerson Firm

FEBRUARY 5, 2021

When a SBA loan is in liquidation status, lenders and authorized CDC liquidators are required to perform “Prudent Liquidation.” When Prudent Liquidation is complete, it’s time for the lender or authorized CDC liquidator to submit a wrap-up report to the SBA and have the loan charged-off. 120.535(b). 120.535(b). SOP 50 55.

Loans 89

Loans Lender Collateral Bankruptcy 89

Hudson Weir

SEPTEMBER 11, 2023

To reduce the lender’s risk exposure, a secured business loan provides them with collateral – a company asset. In contrast, an unsecured loan provided by a lender does not involve a company asset’s usage as collateral. What is a secured loan? Therefore, secured loans tend to be for larger amounts.

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Burr Forman

AUGUST 10, 2020

Bankruptcy and Restructuring Lawyers. Derek is the chair of the firm’s Creditors’ Rights and Bankruptcy practice group and a Fellow in the American College of Bankruptcy. Mike is also a partner in the firm’s Creditors’ Rights and Bankruptcy Practice Group.

Lawyers 40

Lawyers Bankruptcy Collateral Manufacturing 40

Jimerson Firm

MAY 5, 2021

Certain entities facing ongoing financial hardship will chose to seek Chapter 11 or other bankruptcy protection, and while PPP loan and Coronavirus-related EIDL generally are forgivable, exactly how such loan default will be treated through reorganization is the subject of much current litigation and has yet to be fully determined.

Collateral 98

Collateral Loans Government Debtor 98

PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. One way committees try to enhance recoveries is by seeking “derivative standing” to commence adversary proceedings challenging the validity of a secured lender’s pre-petition liens. Bankruptcy Judge Joseph N.

Creditors 59

Creditors Debtor Collateral Unsecured Creditor 59

PBWT

AUGUST 16, 2022

In an adversary proceeding, the collective owners of the Makaha Valley Country Club , golf courses, surrounding undeveloped land, and other related assets (the “Owners”) avoided obligations undertaken in connection with a loan extension provided by Tianjin Dinghui Hongjun Equity Investment Partnership (the “Lenders”).

Debtor 65

Debtor Construction Collateral Lender 65

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.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

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.” All borrowers must submit their own offer in compromise to the lender or CDC. SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55. When is an Offer in Compromise Appropriate?

Loans 96

Loans Lender Collateral Creditors 96

The Creditors Rights

JULY 5, 2016

Lenders often go to great lengths to ensure their borrowers are Special Purpose Entities —entities whose assets will not be commingled with the assets of parent or affiliated companies—rendering bankruptcy filings by the SPE less likely. In Opportunity Finance , the debtors were Petters Company, Inc. (“PCI”) The Eighth Circuit agreed.

Lender 40

Lender Bankruptcy Creditors Collateral 40

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Schwartz , a district court in Delaware held that a credit agreement did not identify the tort claims with the “requisite specificity” to convey a security interest in those claims to the lender. [1] John’s University School of Law. In Polk 33 Lending LLC v. 1] Polk 33 Lending LLC v.

Collateral 40

Collateral Bankruptcy Lender Loans 40

Taurus Collect

MAY 24, 2022

Customer bankruptcy. Customer bankruptcy is an ultimate disastrous situation. In such cases, generally, collateral is kept against the given debt. This allows the lender to receive money after attaching the assets or obtaining the collateral in possession.

Collection Agent 52

Collection Agent Debt Recovery Collections Collateral 52

BN Lawyers

APRIL 5, 2019

Commons examples of first day motions include: (1) Motion to Use Cash Collateral; (2) Motion to Pay Prepetition Payroll; and (3) Motion for Order Authorizing Payment of Critical Vendors. Motion to Use Cash Collateral. Cash collateral is a liquid asset that is subject to a lien or security interest of a creditor.

Collateral 52

Collateral Debtor Creditors Bankruptcy 52

Debt Free Colorado

MARCH 10, 2021

Additionally, bankruptcy courts have imposed practice bans against UpRight in at least four jurisdictions. In the current matter, the USTP alleged that UpRight engaged in misconduct and misrepresentations impacting hundreds of Montana consumers, which came to light due to investigations by the USTP in two bankruptcy cases.

Bankruptcy 40

Bankruptcy Collateral Garnishment Debtor 40

Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

Student loans 82

Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82

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. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. Work with Creditors.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67

Debt Guru

MARCH 6, 2020

Use the same formula that lenders rely on when evaluating a loan application. The result is a percentage that determines your creditworthiness – in short, if lenders believe you’ll be able to repay the loan. Here’s how the typical lender classifies debt-to-income ratio: Less than 15%: Your debt load is within an affordable range.

Credit Counselor 86

Credit Counselor Student loans Student Loans Loans 86

Better Credit Blog

AUGUST 3, 2021

” Bad credit scores are typically the result of too many credit cards, account balances that are too high, late or missed payments, bankruptcies or simply not having any credit history. Accepted collateral includes cars, trucks, motorcycles, boats, and RVs. Compare quotes from different lenders easily.

Loans 52

Loans Lender Collateral Education 52

Better Credit Blog

AUGUST 3, 2021

” Bad credit scores are typically the result of too many credit cards, account balances that are too high, late or missed payments, bankruptcies or simply not having any credit history. Accepted collateral includes cars, trucks, motorcycles, boats, and RVs. Compare quotes from different lenders easily.

Loans 52

Loans Lender Collateral Education 52