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

Jimerson Firm

FEBRUARY 10, 2022

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. Lenders that charge off a debt trigger issuance of the 1099-C when their defined policy leads the lender to discontinue collection activity and discharge a debt.

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Lender Credit Unions Credit Unions Collections 98

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

Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy. What is a Preference Lawsuit?

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Creditors Bankruptcy Debtor Construction 56

Debt Free Colorado

MARCH 10, 2023

Learn about the Five Bankruptcy Myths in Littleton, Colorado Due to worries stoked by myths and misconceptions about bankruptcy, many people choose not to obtain debt relief. Truth be told, declaring bankruptcy may be one of the best decisions you’ve ever made for your present, future, and family.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Debtor 52

Sawin & Shea

AUGUST 4, 2021

This is when a lender agrees to take less than the total amount owed on the real estate from the sale. Your lender has to approve the short sale and will require quite a bit of documentation and paperwork from you. Your lender has to approve the short sale and will require quite a bit of documentation and paperwork from you.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Foreclosure Lender 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.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Student loans 122

Sawin & Shea

FEBRUARY 9, 2022

Filing for chapter 13 bankruptcy can seem like a daunting task, but it’s often the right move for those who are facing foreclosure, repossession, or have exorbitant debts. If you’re thinking of filing for chapter 13 bankruptcy, you may have questions regarding how it will impact your credit score.

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Chapter 13 bankruptcy Bankruptcy Lawyers Repossession 98

Sawin & Shea

JULY 19, 2023

If you find yourself in an untenable financial situation, bankruptcy may be your best option. Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt. Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Garnishment 52

Sawin & Shea

OCTOBER 6, 2021

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. What is the CARES Act?

Bankruptcy 98

Bankruptcy Chapter 13 bankruptcy Lender Government 98

Sawin & Shea

JANUARY 25, 2023

Here’s what you need to know about getting a new loan and interest rate after bankruptcy. Why File for Bankruptcy with Rising Interest Rates If you’re struggling with overwhelming debts made worse by increased interest rates, you may want to consider filing for Chapter 13 bankruptcy. Usually, this is cents on the dollar.

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Chapter 13 bankruptcy Bankruptcy Loans Foreclosure 72

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?

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Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

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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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Roths Child Law

MAY 11, 2021

In fact, you may fall behind even though you do your best to make payments to every creditor every month. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. The lender retains the services of a repossession expert, often a driver with a specialized vehicle.

Repossession 52

Repossession Lender Collateral Bankruptcy 52

PBWT

SEPTEMBER 8, 2021

Debtors and trustees seeking to avoid the hardship of a foreclosure often attempt to employ sections 547 and 548 of the Bankruptcy Code. [1] A recent adversary proceeding in the United States Bankruptcy Court for the District of New Jersey, Cedrick Goodman v. Debtor filed his bankruptcy on January 15, 2020.

Bankruptcy 52

Bankruptcy Foreclosure Debtor Lender 52

Credit Corp

APRIL 26, 2024

A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. The IRS notes that cancellation can occur when the creditor gives up on collecting because it’s exhausted its resources and is unable to collect.

Repossession 59

Repossession Creditors Bankruptcy Foreclosure 59

Credit Corp

JUNE 14, 2023

Lenders don’t necessarily continue to report activity for the entire limit. A charge-off is when the creditor officially writes your debt off its books as a loss. Keep in mind that a creditor writing off your unpaid debt as a loss doesn’t mean you don’t owe the debt. How Long Does the Good Stuff Stay on My Credit Report?

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Foreclosure Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy 89

Sawin & Shea

DECEMBER 13, 2022

It’s important to know if your mortgage modification lawyer has successfully modified a loan from your lender. Answering this question is important because mortgage lenders may move quickly toward foreclosure if you get behind on your mortgage commitment. Is bankruptcy a better option? Is bankruptcy a better option?

Lawyers 105

Lawyers Bankruptcy Loans Lender 105

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

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

Sawin & Shea

OCTOBER 6, 2021

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. What is the CARES Act?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Lender Government 52

Roths Child Law

MAY 11, 2021

In fact, you may fall behind even though you do your best to make payments to every creditor every month. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. The lender retains the services of a repossession expert, often a driver with a specialized vehicle.

Repossession 40

Repossession Lender Collateral Bankruptcy 40

Fraser

SEPTEMBER 28, 2020

When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. A claim, in short, is a right to payment.

Bankruptcy 52

Bankruptcy Creditors Debtor Construction 52

Sawin & Shea

APRIL 26, 2023

The judgment lien definition is that if you owe a creditor money and don’t pay, they can sue you for the balance. If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. What Is a Judgment Lien?

Judgment 52

Judgment Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 52

Jimerson Firm

SEPTEMBER 22, 2020

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. does not apply to hotel revenues stems from a line of bankruptcy cases decided in the early 1990s. Losing the Right to Collect Rents: Junior Foreclosure Sales.

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Foreclosure Lender Law Firms Collections 98

Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill. You may spend $400 to $500.

Bankruptcy 114

Bankruptcy Collection Agencies Collections Agency Lender 114

Roths Child Law

SEPTEMBER 29, 2020

It can be challenging to know whether your current money problems are minor and temporary or whether you might be in over your head and in need of filing for bankruptcy. Speaking with someone well-versed in bankruptcy issues can help you determine a best course of action in your specific circumstances.

Bankruptcy 40

Bankruptcy Collection Agent Foreclosure Lender 40

Debt Free Colorado

APRIL 9, 2020

Below you’ll find some strategies for working with your creditors and deciding which bills are the most important if you can’t pay them all. Reach out to your creditors. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy. Paying Rent.

Student loans 82

Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82

Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act? 1), Fla.

Foreclosure 98

Foreclosure Lender Judgment Creditors 98

Credit Corp

MAY 10, 2023

Your credit score is an important aspect of your financial health and is oftentimes used by lenders, landlords, and even employers to determine your creditworthiness. Hard inquiries , also known as hard pulls, are typically made by lenders and other financial institutions and can harm your credit score. What’s a Hard Inquiry?

Creditworthiness 97

Creditworthiness Lender Financial Institution Loans 97

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

The Creditors Rights

JUNE 7, 2016

Many lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing. If they don’t, a lack of the blocking director’s consent may not prevent the borrower from filing bankruptcy.

Lender 40

Lender Bankruptcy Foreclosure Government 40

Credit Corp

MAY 1, 2024

Creditors may also make errors when reporting payment dates and payment amounts. Balance errors: A creditor may report the wrong balance or the wrong credit limit, which affects your credit utilization ratio. It’s also possible for the same account to be listed under two different creditors.

Law Firms 52

Law Firms Creditors Credit Bureau Loans 52

Credit Corp

AUGUST 23, 2021

This code can mean two different things: You don’t have enough accounts for lenders or credit scoring models to effectively gauge your risk as a borrower. Even if you’ve paid your bills on time, if you only have one credit card that’s been open three months, that’s not enough information for many lenders.

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Lender Loans Personal loans Trade 104

Better Credit Blog

AUGUST 7, 2020

Synchrony offers several financial products, from CDs, MMAs, and IRAs to credit cards and loans through partnerships with other lenders. As long as a hard inquiry is on your credit profile, it can drop your score and hurt your chances of getting approved when you apply with lenders in the future. Foreclosure. American Eagle.

Retail 52

Retail Lender Debt collector Banks 52

Better Credit Blog

SEPTEMBER 24, 2020

When you apply for a credit card, a loan, or a mortgage, the lender or creditor pulls your credit report , which is defined as a hard credit inquiry. Hard inquiries tell lenders how often you apply for credit, which can be an indicator of your financial situation. Report fraud to the lender. Bankruptcies.

Lender 52

Lender Loans Foreclosure Creditors 52

Titan Consulting

APRIL 26, 2020

Suspending rent payments die to COVID-19 may put you at risk for foreclosure if you can’t make up your deferred payments all at once. Deferring your auto payments may put you at risk for repossession if your lender requires you to catchup and make all deferred payments at the end of the deferral period.

Student loans 52

Student loans Student Loans Lender Loans 52