Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. Unfortunately, not everyone filing Chapter 13 will complete the repayment process. Unfortunately, not everyone filing Chapter 13 will complete the repayment process.

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Sawin & Shea

OCTOBER 26, 2022

A variety of factors determine whether or not you’ll be able to discharge all of certain personal loans, including whether the loan is secured or unsecured and whether you file via Chapter 7 or Chapter 13 bankruptcy. Unsecured loans are loans that don’t have collateral. Payday loans. Signature loans.

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Sawin & Shea

JANUARY 18, 2023

What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. Unsecured debts are not backed by collateral, such as car payments and home mortgages. What Happens After You File Chapter 7 Bankruptcy?

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Sawin & Shea

JUNE 7, 2023

The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan. Creditors can pursue reimbursement from the co-signer via repossessions, foreclosures, wage garnishment , and other aggressive actions.

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Sawin & Shea

NOVEMBER 15, 2023

In broad terms, if a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay. However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt. What is the difference?

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Debt Free Colorado

MARCH 3, 2023

Do Bankruptcies Come in Different Types? There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed.

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Sawin & Shea

JANUARY 25, 2022

However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. Secured debts are a type of debt backed by an asset that is used as collateral. What collection remedies are allowed will vary by state.

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