Credit Corp

MAY 17, 2021

But those who are struggling with debt might wonder: Can my stimulus check be garnished for credit card debt or other money owed. The short answer is yes, but it depends on the type of debt you’re dealing with. It also won’t be taken to offset state debts , including tax debt.

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Credit Corp

FEBRUARY 23, 2024

Debt consolidation combines multiple debts into one and can help your credit score. Bankruptcy can reduce your total debt at the cost of ruining your credit. Debt consolidation and bankruptcy are two options for debt relief that have distinct advantages and drawbacks. What Is Bankruptcy?

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Sawin & Shea

JULY 6, 2022

A common question we receive from those considering bankruptcy is how it impacts personal guarantees. If you’re considering filing for bankruptcy, you need to consult with a bankruptcy attorney before signing a personal guarantee. A personal guarantee loan is a signed agreement stating that you’re liable for a debt.

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Sawin & Shea

JANUARY 24, 2024

When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation. The court reviews your finances to prevent fraud.

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Roths Child Law

APRIL 1, 2024

In fact, over half of the population have some form of credit card debt. When debts become overwhelming and impossible to pay, filing for bankruptcy is an option. However, many people are put off of doing so because of the stigma behind filing for bankruptcy.

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Roths Child Law

AUGUST 14, 2023

Student loans are one of the primary ways graduates build up debt. College students are often also targets of credit card companies, which can lead to all kinds of debts. Many students use their credit cards to buy books, supplies, coffee, alcohol, clothes, rent and food.

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Sawin & Shea

AUGUST 9, 2023

Credit card debt is a huge reason people end up filing for bankruptcy. The incredibly high interest rates alone plus the ease of procuring cards contribute to what can be a vicious cycle of maxing out limits, paying only minimums, and applying for more cards. Can I Declare Bankruptcy for Credit Card Debt?

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Sawin & Shea

JULY 28, 2021

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. You need to know exactly which debts can be discharged and which debts can’t as you begin the process. Taking that into account, we’ll focus on Chapter 7 Bankruptcy.

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Sawin & Shea

MARCH 6, 2024

Being overwhelmed by debt is a stressful situation that can make it challenging to decide on the best path forward. Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. However, it’s important to remember that this does not eliminate debt.

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Titan Consulting

SEPTEMBER 15, 2020

Financial hardship could make it possible to negotiate debt balances and pay less than the full amount owed. Bankruptcy can wipe out unsecured bills, leaving creditors with no way to recover the debt. Personal loans, credit card debt, payday loans, or medical bills all fall into the category of unsecured personal debt.

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Sawin & Shea

AUGUST 30, 2023

What is Bankruptcy? Bankruptcy is an opportunity for someone to forge their way through what seems like an impossible debt-ridden situation and come out the other side. It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Which Debts Cannot be Discharged in Bankruptcy?

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Collection Industry News

FEBRUARY 21, 2022

If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve Bank of New York. Outstanding credit card debt is still about 7.7%

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Sawin & Shea

JANUARY 18, 2023

If you’re struggling with overwhelming debts, Chapter 7 bankruptcy could be your best option. Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. What is Chapter 7 Bankruptcy?

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Sawin & Shea

MARCH 20, 2024

You may be wondering whether you should opt for a tax attorney or a bankruptcy attorney. If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. You deserve a fresh start.

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Roths Child Law

JULY 12, 2023

Bankruptcy is a great process that helps many people recover from overwhelming debt obligations. Are you considering filing for bankruptcy? How often can I file for bankruptcy? People can file for bankruptcy as many times as they wish. Or, a Chapter 7 to a Chapter 13 bankruptcy may require people to wait 4 years.

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Collection Industry News

AUGUST 13, 2023

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York. During the second quarter, credit card balances shot up by $45 billion, or nearly 4.6%, to land at $1.03

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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. Should I File for Bankruptcy?

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Sawin & Shea

APRIL 5, 2023

Filing for Chapter 7 or Chapter 13 bankruptcy is sometimes the best solution for those struggling with overwhelming debt. It offers a fresh start and the opportunity to reorganize finances, discharge certain debts, and regain financial stability. Can You File Bankruptcy on Child Support?

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Sawin & Shea

AUGUST 2, 2023

The good news – the light at the end of the tunnel – is that there is an excellent way to ease these fiscal-related woes: filing for bankruptcy. What is the Best Time to File for Bankruptcy? Many people ask, when should you file for bankruptcy? There are many reasons someone might file for bankruptcy.

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Titan Consulting

SEPTEMBER 8, 2020

Making just the minimum payment required each month on credit card debt will maximize the amount of interest you pay to creditors. Continuing to pay just the minimum payments on your credit card debt robs you capital you could use to fund your retirement or pay for your children’s education. Key Takeaways.

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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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Sawin & Shea

MAY 5, 2021

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. Ten facts About Chapter 13 Bankruptcy and Medical Bills: #1.

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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

NOVEMBER 2, 2022

If you’re concerned about the potential impact of bankruptcy on your spouse, you’re not alone. This is one of the top questions married people have about filing for bankruptcy in Indiana. First, you should know that choosing bankruptcy is a smart, proactive way of lifting the burden of overwhelming debt. Bankruptcy Code.

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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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Sawin & Shea

JUNE 22, 2022

Since 1991, the number of retirees filing for bankruptcy has tripled , with 12.2% of all bankruptcies being filed by people 65 and older. And student loan payments are often even a burden for senior citizens today. However, though bankruptcy can be a good option, it is not always the best option, especially if you are retired.

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Sawin & Shea

SEPTEMBER 27, 2023

Filing for bankruptcy can provide you with a much-needed second chance when it comes to your finances. If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. What is Chapter 7 Bankruptcy?

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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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Credit Corp

MAY 3, 2023

If you decide to file for bankruptcy, you must next decide which type of bankruptcy is right for you. Bankruptcy can be complex, and even a small mistake in how you file can substantially change the outcome of your case. In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You?

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Debt Free Colorado

NOVEMBER 18, 2023

Do not let the weight of post-bankruptcy credit challenges stop you from financial freedom Filing for bankruptcy is undoubtedly a challenging decision, one that can have a significant impact on your financial stability and creditworthiness. How Does Bankruptcy Affect Credit?

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Collection Industry News

JANUARY 12, 2023

Credit card balances reached a record-setting $866 billion in the third quarter of last year, which represents a year-over-year increase of 19%. Credit balances reached a record-setting $866 billion in the third quarter of last year – and they are expected to keep climbing, the report from TransUnion said.

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Sawin & Shea

APRIL 12, 2023

In fact, for some, this may be the only way to keep afloat since family and friends generally don’t care about your credit score or charging you outrageous interest rates. So should you pay back your family and friends before filing for bankruptcy? Unsecured debt includes things like credit card debt, medical debt, and personal loans.

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Titan Consulting

SEPTEMBER 29, 2020

Credit card debt features low monthly payments, but double-digit interest which compounds daily, causing balances to grow fast and making it hard to eliminate the debt. Paying off credit cards will save you money on daily compounding interest payments. Paying Credit Card Debt in Retirement.

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Collection Industry News

MARCH 28, 2023

More consumers are leaning on credit cards to afford increasingly expensive necessities such as food and rent. That helped propel total credit card debt to a record $930.6 That will cost credit card borrowers an extra $3.4 How to tackle credit card debt “Something has to give,” Gonzalez said.

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Collection Industry News

MAY 27, 2023

That means consumer debt — especially variable-rate credit card debt — will get more expensive. If you don’t transfer to a zero-rate balance card, another option might be to get a relatively low fixed-rate personal loan. The average personal loan rate was 10.71% as of March 8, according to Bankrate.

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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

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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