Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. Who Is Eligible for Chapter 7 Bankruptcy?

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Sawin & Shea

MARCH 20, 2024

If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. What’s the Difference Between a Tax Attorney and a Bankruptcy Attorney? You deserve a fresh start.

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Sawin & Shea

AUGUST 30, 2023

It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. After taking a means test, you will file papers and a petition with the bankruptcy court. Alimony payments.

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.

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Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. As we mentioned above, Chapter 13 involves consolidating your existing debts into a realistic three- to five-year repayment plan.

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Roths Child Law

JANUARY 31, 2023

Filing the wrong chapter Personal bankruptcies fall into two categories - Chapter 7 and Chapter 13 bankruptcies. It is important that you understand how these types of bankruptcies differ. Bankruptcy can give you a fresh start. Still, others delay the process in an attempt to “buy time.”

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Titan Consulting

AUGUST 23, 2020

You must qualify to file for bankruptcy, and your income must meet an income means test. If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score.

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Sawin & Shea

MARCH 9, 2022

Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts. Will Bankruptcy Eliminate All of My Debts?

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Sawin & Shea

NOVEMBER 15, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is a liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets.

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