Chapter 13 bankruptcy Collateral Judgment Repossession 
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?
Debt Free Colorado
MARCH 3, 2023
For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge.
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Debt Free Colorado
APRIL 9, 2020
They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home. Your Mortgage.
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 is Secured Debt? What is Unsecured Debt?
Debt Free Colorado
DECEMBER 9, 2021
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.
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