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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Sawin & Shea

APRIL 17, 2024

In this blog, we’ll discuss how Chapter 13 usually affects credit scores, and we’ll give you actionable tips to begin rebuilding your credit. If you have additional questions regarding Chapter 13 or Chapter 7 bankruptcy, contact the attorneys at Sawin & Shea, LLC.

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Debt Free Colorado

JANUARY 27, 2022

They will sell them and use the revenues to pay for the bankruptcy’s fees , charges, and expenditures before paying creditors. The Trustee confiscates your bank and savings accounts when the bankruptcy order is issued. If the account is in credit, the amount is a bankruptcy asset. Items found in your home.

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Debt Free Colorado

APRIL 9, 2020

They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. Your Mortgage.

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Fraser

JUNE 25, 2020

Such relief may include a request to pay some unsecured creditors (such as employees or “critical vendors”) ahead of others. A creditor may need to file an objection to requested first-day relief to protect its rights. Unsecured creditors whose rights are “impaired” are entitled to vote on a plan, as well as object to it.

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Debt RR

DECEMBER 13, 2019

Banks can seize business assets and liquidate as a last resort to cut their losses. Missing payments on secured debt causes the creditor to repossess the property as recourse. If collateral is seized, it often occurs in court, leaving a record for other partners and vendors to dig up. Secured Creditors. Noteholders.

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