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Consumer Debt vs. Non Consumer Debt

Sawin & Shea

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. They can assist you through the bankruptcy process and can keep creditors from unlawfully harassing you.

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What Assets Do You Lose in Chapter 7?

Sawin & Shea

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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What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Common unsecured loans include: Bank loans with no collateral. Repossession deficiency claims. Discharging Personal Loans Through Chapter 7 Bankruptcy. Unsecured loans are loans that don’t have collateral. Payday loans.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

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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Discharge in Bankruptcy – Bankruptcy Basics

Sawin & Shea

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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Bankruptcy vs. Foreclosure

Sawin & Shea

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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What is an Emergency Bankruptcy Filing?

Sawin & Shea

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.