Sawin & Shea

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys. What is Consumer Debt?

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Sawin & Shea

APRIL 17, 2024

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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Sawin & Shea

MARCH 9, 2022

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. Secured debts refer to debts with collateral, like house payments and car payments.

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Sawin & Shea

JANUARY 24, 2024

Chapter 13 bankruptcy sets up a 3-5 year repayment plan to pay back a portion of what you owe. The Cons Bankruptcy has an effect on your credit and remains on your report for 7-10 years depending on the type. Any debts not discharged, like student loans, remain.

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Sawin & Shea

JULY 6, 2022

A friend or family member may step in to assist the borrower in obtaining a loan for a car, home, or student loan. Unfortunately, if a friend or family member needs someone to personally guarantee their loan, that likely means they’ll have a high-interest rate and have a higher chance of defaulting on payments.

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Sawin & Shea

OCTOBER 27, 2021

25% of debts in collections were credit card related, and 20% were student loan debts. Bankruptcy Code. You can discharge the medical debt by filing Chapter 7 or Chapter 13 bankruptcy because medical debts are generally what is described as “unsecured debts”. Contact Indiana Bankruptcy Lawyers.

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Roths Child Law

OCTOBER 1, 2021

These are known as “non-dischargeable” debts, meaning that you must still repay them once the bankruptcy proceeding is complete. . Here are some of the debts that you generally cannot clear away with bankruptcy: Student loan debt. Mortgages are treated as secured loans because they are attached to the home as collateral.

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