Chapter 13 bankruptcy Collateral Debtor Secured debt 
Sawin & Shea
MARCH 13, 2024
Have additional questions regarding bankruptcy or reaffirming secured debts? Here at Sawin & Shea, we have numerous years of experience practicing bankruptcy law and can answer your questions. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt.
Debt Free Colorado
DECEMBER 30, 2023
Quick Summary: Bankruptcy can be a viable option amid economic challenges and advantageous for retirement savings with proper guidance. IRAs are generally protected in both Chapter 7 and Chapter 13 bankruptcies, offering security for retirement funds. Will I Preserve My 401(k) Plan in Bankruptcy?
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Sawin & Shea
NOVEMBER 15, 2023
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. Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. Secured vs Unsecured Debt: What’s the Difference?
Sawin & Shea
AUGUST 23, 2023
Before you decide if bankruptcy is the best option for you, it’s important to understand the two different types of bankruptcy that are available to individuals: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Most Debtors, however keep everything they have.
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.
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. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral.
Sawin & Shea
DECEMBER 7, 2022
This includes credit card debt, so try to avoid racking up a substantial balance this season. Those who are about to file for bankruptcy should also avoid accumulating substantial debt. Many debtors make the mistake of racking up more debt before filing because they figure that they’ll be able to discharge it.
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