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Chapter 13 Bankruptcy and Student Loans

Sawin & Shea

Though every situation is different, contacting an attorney that specializes in bankruptcy can be the first step in achieving financial freedom. Will My Student Loans Be Discharged if I File for Chapter 13 Bankruptcy? While getting student loans fully discharged through bankruptcy is rare, it is not impossible.

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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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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.

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Car Payments and Car Repossession

Sawin & Shea

Bankruptcy Offers a Way to Keep Your Vehicle. Chapter 13 bankruptcy , also known as a reorganization bankruptcy, stops a car repossession in its tracks using something known as the automatic stay. You stay under the court’s protection, which continues to stop collection efforts until the end of your bankruptcy.

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

Debt Free Colorado

The following are examples of property that a Chapter 7 debtor is frequently required to surrender (“non-exempt” property) and property that is typically permitted to be retained by the debtor (“exempt” property). collectible stamps, coins, and other memorabilia. Non-Exempt Assets and Chapter 13 Bankruptcy.

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Dealing With Debt From COVID-19

Debt Free Colorado

While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home. Credit Cards.