Remove Chapter 13 bankruptcy Remove Collateral Remove Foreclosure Remove Secured debt
article thumbnail

Can You Reaffirm a Debt in Chapter 13?

Sawin & Shea

In this blog, you’ll learn about whether you can reaffirm your debt in Ch. 13, the differences between Ch. 13, and how to enter into a reaffirmation agreement. Have additional questions regarding bankruptcy or reaffirming secured debts? The Plan controls how those debts are handled.

article thumbnail

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

And possibly the most common question people ask is credit card debt is secured or unsecured. Secured vs Unsecured Debt: What’s the Difference? In broad terms, if a debt is secured, it means it is backed up by collateral property. Unsecured Debt What is unsecured debt?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

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.

article thumbnail

How Long Will Chapter 13 Delay Foreclosure?

Sawin & Shea

If you’re at risk of losing your home, Chapter 13 bankruptcy could be your best option. When you’re going through the process of filing Chapter 13, foreclosure cannot occur because you’re granted an automatic stay, meaning that lenders cannot pursue your debts and recover collateral, including your home.

article thumbnail

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. You should get legal assistance from a knowledgeable bankruptcy attorney in Denver. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy.