Remove Chapter 13 bankruptcy Remove Collateral Remove Secured debt Remove Student Loans
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How Much Debt is Needed to File for Bankruptcy?

Sawin & Shea

Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts.

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Nearly Half of Indiana Facing Medical Debt

Sawin & Shea

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts? Contact Indiana Bankruptcy Lawyers.

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Does Filing for Bankruptcy Eliminate Debt?

Sawin & Shea

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.

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Nearly Half of Indiana Facing Medical Debt

Sawin & Shea

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts? Contact Indiana Bankruptcy Lawyers.

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What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

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.

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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.