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What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation.

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

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Can You Reaffirm a Debt in Chapter 13?

Sawin & Shea

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. There is a Chapter 13 Plan that controls how various debts are treated.

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What Is a Personal Guarantee in Bankruptcy?

Sawin & Shea

The majority of personal guarantees cover unsecured obligations, meaning there isn’t a backing asset the lender can recover in the event that the borrower defaults. Some of these obligations include personal loans, credit card debt, and medical bills. Contact an Indianapolis Bankruptcy Attorney.

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How to Fill Out Bankruptcy Forms in Colorado

Debt Free Colorado

We will discuss how to fill out bankruptcy forms in Colorado or any part of the country below. The complicated procedure of filling out bankruptcy documents needs the assistance of Colorado bankruptcy lawyers , like the Law Office of Clark Daniel Dray.

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What Is Nonexempt Property In Bankruptcy, And Why Does It Matter?

Debt Free Colorado

personal injury compensation. Non-Exempt Assets and Chapter 13 Bankruptcy. The filer maintains all non-exempt property as long as unsecured creditors get the value of the non-exempt asset under the Chapter 13 repayment plan. What happens to non-exempt property in a Chapter 7 bankruptcy?