Sawin & Shea

DECEMBER 7, 2022

If you’re struggling with crippling debt this holiday season, filing for bankruptcy may be your best option for getting your finances back on track. Here’s what you need to know about getting through the holidays during bankruptcy. Don’t Accumulate Any More Debt. Don’t Purchase Expensive Luxury Items.

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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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PBWT

SEPTEMBER 30, 2021

PERRY, Debtor. 21, 2021), Judge Seibel reversed the decision of the bankruptcy court and clarified the independent obligation of the Bankruptcy Court to ensure a Plan conforms to the necessary requirements set out by the Bankruptcy Code, irrespective of the parties’ conduct. In a recent decision, In re: BRUCE D.

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Roths Child Law

JANUARY 15, 2021

When a consumer in Tennessee has more debt than they can manage, bankruptcy may be the solution. Consumers commonly choose Chapter 7 bankruptcy, which allows them to erase certain debts, but filing for bankruptcy can impact credit scores. Chapter 7 bankruptcy and credit scores. Rebuilding credit.

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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. These are categorized as priority unsecured debts. #7.

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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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Roths Child Law

JUNE 17, 2021

Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances. Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. How else to tell when you need to file bankruptcy. Retirement benefits.

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Roths Child Law

JANUARY 13, 2022

However, you can get rid of the financial and emotional pressure of being a debtor by filing for Chapter 7 or Chapter 13 bankruptcy. Both Chapters can help you start anew and discharge your debts, but they work differently. When there is nothing left to sell, the rest of the unpaid debts will disappear. Financial relief.

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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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PBWT

SEPTEMBER 30, 2021

In a recent decision, a district court reversed the decision of the bankruptcy court and clarified the independent obligation of the Bankruptcy Court to ensure that a Chapter 13 Plan satisfies the necessary requirements of the Bankruptcy Code, irrespective of the parties’ conduct. PERRY, Debtor. In re: BRUCE D.

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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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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff The families of the victims of the Sandy Hook shooting sued Alex Jones in a Connecticut state court, and his company, Free Speech Systems, in a Texas state court. [1] 7] First, under Subparagraph A, a debtor under Subchapter V must have less than $7.5

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Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. What Happens to My Credit Card Debt When I File For Bankruptcy?

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Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. What Happens to My Credit Card Debt When I File For Bankruptcy?

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Sawin & Shea

JULY 12, 2023

Declaring bankruptcy can appear incredibly intimidating. The truth is that there’s nothing wrong with declaring bankruptcy, and it’s often the best option for those struggling with overwhelming debt. Both forms of bankruptcy provide an automatic stay, which is a legal order that protects you from creditors.

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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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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

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. Filing for Chapter 7 bankruptcy is centered on liquidating assets while filing for Chapter 13 bankruptcy focuses on reorganization.

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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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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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Sawin & Shea

JULY 27, 2022

Debtors who run their credit card balances up before they file for bankruptcy could suffer consequences. Primarily, it could result in your debt becoming ineligible for discharge, which is often the whole point of filing for bankruptcy. So in many cases, running your credit card debt up is not worth it.

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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

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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Burr Forman

DECEMBER 18, 2020

Many national restaurant chains filed for Chapter 11 bankruptcy relief in 2020, but because these proceedings can be extremely costly and require extended timelines to complete, Stieglitz highlighted the SBRA and its new subchapter V (Sub V) bankruptcy proceeding as a faster and less expensive option.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] John’s University School of Law.

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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. You must qualify to file for bankruptcy, and your income must meet an income means test. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery?

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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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Roths Child Law

JUNE 17, 2021

Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances. Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. How else to tell when you need to file bankruptcy. Retirement benefits.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff One of the requirements a debtor must meet in order to be eligible for Subchapter V of Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) is that it must be "engaged in commercial or business activities." [1] Tyler Manger St.

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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. What’s a Guarantor?

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PBWT

FEBRUARY 7, 2021

A seat at the table: this is what you likely want when your financial interests are drawn into a bankruptcy court proceeding. Debtor Fred Jay Bressler, M.D. filed for bankruptcy under chapter 11, subchapter V of title 11 of the Bankruptcy Code. Just seven unsecured creditors voted on the plan, all in favor.

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UK debt collections

NOVEMBER 16, 2023

The personal insolvencies consisted of 703 bankruptcies, 3,245 debt relief orders (DROs) and 5,933 individual voluntary arrangements (IVAs). DRO and bankruptcy numbers were higher than last year, with DROs in October 2023 being 71% higher than in October 2022, although the number of bankruptcies remained well below pre-2020 levels.

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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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Foster Swift

JULY 8, 2020

A Chapter 13 bankruptcy plan requires a debtor to satisfy unsecured debts by paying all “projected disposable income” to unsecured creditors over a five-year period. In a recent case before the U.S. 1] Read More › Tags: 6th Circuit Court of Appeals , Chapter 13.

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Sawin & Shea

MARCH 27, 2024

Filing for bankruptcy can feel incredibly daunting, especially if you have concerns over whether it may impact your future job prospects. The sad reality is that many people hold misconceptions regarding bankruptcy filers. They believe those declaring bankruptcy are irresponsible or bad with money. What Is Chapter 7 Bankruptcy?

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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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Sawin & Shea

FEBRUARY 23, 2022

If you are in the Chapter 13 Bankruptcy process, you have a three-to-five-year reorganization payment plan. This plan will allow for one monthly payment to wrap up most types of debt and will provide you with automatic court protection from your creditors. The simple answer is – it depends. However, there is hope in the word may.

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