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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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?

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Sawin & Shea

OCTOBER 25, 2023

However, you may still have to pay the monthly or annual fees until the bank forecloses and transfers the title from your name. Chapter 7 Timeshare Bankruptcies If you file for Chapter 7 bankruptcy , you might be able to keep your timeshare. The court will distribute equity to your creditors.

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Sawin & Shea

AUGUST 17, 2022

In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged.

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Sawin & Shea

MARCH 14, 2023

If you’re filing for Chapter 7 bankruptcy , you can retain exempt assets and protect them from seizure but only up to a particular point. The court-appointed bankruptcy trustee can confiscate any non-exempt assets to liquidate in order to pay back some of your debts. Why Did Bankruptcy Exemptions Increase in Indiana?

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Sawin & Shea

JUNE 18, 2020

Many people keep control over their assets through the use of bankruptcy exemptions, which are special rules that allow people who are filing for a Chapter 7 bankruptcy to keep certain property if its value is less than the amount of the exemption. How Do I Protect My Home During Bankruptcy? This is rarely true.

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Sawin & Shea

AUGUST 30, 2023

Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. In Chapter 7 Bankruptcy , (sometimes misleadingly described as liquidation bankruptcy), certain debts are discharged within 3-4 months. Chapter 13 Bankruptcy is sometimes called “the wage earner’s plan.”

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Sawin & Shea

DECEMBER 29, 2021

However, the property that is considered nonexempt will be handled differently depending on which chapter you file. Property in Chapter 7 Bankruptcy. When you file Chapter 7 bankruptcy, any property determined to be nonexempt will likely be lost to the liquidation process.

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Sawin & Shea

JUNE 16, 2021

Chapter 7 bankruptcy: In this type of bankruptcy, your non-exempt assets (if any) have been liquidated to pay off a percentage of your debts. Pros: Because you are no longer overwhelmed with creditors and debts, you may be able to save money for secured loans or secured credit cards. This is your limit.

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Sawin & Shea

FEBRUARY 2, 2021

After your Chapter 7 bankruptcy discharge or Chapter 13 bankruptcy period, your bankruptcy attorney will request permission to pull and review your credit report. For Chapter 13, this may occur after your case has been confirmed and approved by the court even if your bankruptcy is not yet over.

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Sawin & Shea

JUNE 28, 2023

Do Not: Try to Transfer or Hide Assets If you’ve transferred any assets to another party before declaring bankruptcy, you’re not gaining any protection. If assets are transferred in anticipation of filing for bankruptcy, a trustee can recover those assets in a Chapter 7 bankruptcy since the transfer would rightfully be seen as fraudulent.

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Debt Free Colorado

JANUARY 27, 2022

They then exercise control over the merchandise sold to satisfy creditors. 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.

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Fraser

JUNE 25, 2020

As chapter 11 bankruptcies continue to increase (many analysts are forecasting the “ wave ” of filings to grow), more businesses and individuals will be impacted by the fallout. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. First Day” Motions.

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Sawin & Shea

SEPTEMBER 13, 2023

If you choose bankruptcy, there are also different options depending on whether you choose a Chapter 13 bankruptcy or a Chapter 7 bankruptcy. If you are facing foreclosure or bankruptcy, the best way to determine which choice is right for you is to speak with an experienced bankruptcy attorney.

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Sawin & Shea

NOVEMBER 15, 2022

If a potential employer runs a background check, they’ll discover your bankruptcy. And if they search your credit history, they’ll also likely spot your bankruptcy filing. A Chapter 7 bankruptcy remains on your credit history for ten years, and a Chapter 13 bankruptcy will stay on your credit history for seven years.

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Roths Child Law

JUNE 13, 2021

When people are considering Chapter 7 bankruptcy, one of their primary concerns is that they will have to give up things that they need and things that are very important to them. The bankruptcy court will divide their assets into exempt and non-exempt. These are called no-asset bankruptcy cases.

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Sawin & Shea

FEBRUARY 8, 2023

People can discharge their debts via Chapter 7 liquidation or can repay their debts over time through a Chapter 13 repayment plan. Plus, these bankruptcy options also provide protection from creditors. Here are some expert tips for rebuilding your credit and finding the best credit cards after bankruptcy.

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Debt Free Colorado

OCTOBER 12, 2023

financial assets (including bank accounts and investments), debts owed to you (including tax refunds, loans, and other obligations), assets related to your business, and any other assets you may own. In Colorado, they choose which assets you are permitted to keep in your bankruptcy case. You can start over because of that.

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Sawin & Shea

AUGUST 4, 2021

Because a short sale is such a complicated process, you are advised to work with a bankruptcy attorney who understands the complexities of cases like this and who can protect you against a deficiency judgment or other liabilities that may pertain after the sale. What if you file for Chapter 7 bankruptcy?

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Roths Child Law

JUNE 13, 2021

When people are considering Chapter 7 bankruptcy, one of their primary concerns is that they will have to give up things that they need and things that are very important to them. The bankruptcy court will divide their assets into exempt and non-exempt. These are called no-asset bankruptcy cases.

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Debt Guru

AUGUST 30, 2021

You’ve probably heard of people filing for bankruptcy but may not understand how it works for individuals who are in debt over their heads. There are two forms of bankruptcy: Chapter 7 bankruptcy is when you go to court and ask that all of your outstanding debt is discharged.

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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. Triage your finances.

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Sawin & Shea

FEBRUARY 16, 2022

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. Individuals can file an emergency bankruptcy, also known as a skeleton bankruptcy, under Chapter 7 and Chapter 13. In 2005, the U.S.

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Sawin & Shea

NOVEMBER 2, 2022

The bankruptcy court will examine your joint and individual debts and assets. Follow your bankruptcy lawyer’s instructions about quickly and truthfully providing tax information, bank records, property transactions, and other documentation that may either apply to you and your spouse jointly or you alone.

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Sawin & Shea

SEPTEMBER 15, 2021

If you are not still receiving payments, you can send a check, or use a debit card, credit card, or your bank account. What Happens If You Are Filing For Bankruptcy and Owe A Repayment To The SSA? You can also contact the SSA and work out a monthly payment plan that you can afford.

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Sawin & Shea

SEPTEMBER 15, 2021

If you are not still receiving payments, you can send a check, or use a debit card, credit card, or your bank account. What happens if you are filing for bankruptcy and owe a repayment to the SSA? You can also contact the SSA and work out a monthly payment plan that you can afford.

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Debt RR

DECEMBER 13, 2019

Banks can seize business assets and liquidate as a last resort to cut their losses. Debts can quickly cripple a business, and negotiating more favorable terms with creditors is usually the best way out. Many businesses are both debtors and creditors. Some creditors issue bonds, which demand principal and interest payments.

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Sawin & Shea

JANUARY 25, 2022

If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. In some cases, the assets or secured interest is something a creditor voluntarily agrees to in a lien; in other cases, the lien may be involuntary.

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Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. While it can provide relief from overwhelming debt, it may have significant consequences, including damage to your credit score, tax implications, and potential legal actions from creditors.

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Debt RR

JANUARY 24, 2020

Unlike secured debt and equipment leases, the only way to satisfy an unsecured debt is through negotiating with creditors. The last thing to do is inform creditors and employees, as well as any customers or clients. When business file, creditors are notified that the company is dissolved so no other credit is extended.

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Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy.

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Collection Industry News

SEPTEMBER 23, 2020

That means that the court entered an order in favor of the creditor or debt collector because the consumer did not show up or did not file necessary paperwork. In Alabama, if a judgment is entered against you, the creditor who got the judgment can do several things as far as trying to collect on the judgment. • Filing bankruptcy.

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Better Credit Blog

JANUARY 11, 2022

There are several different types of bankruptcies, but the majority of individuals can only file for Chapter 7, which is also known as liquidation bankruptcy, and Chapter 13 bankruptcy, which is also known as the wage earner’s plan. Pay stubs for the past six months before the bankruptcy.

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