Remove Chapter 13 bankruptcy Remove Credit Card Debt Remove Garnishment Remove Repossession
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What Happens to My Personal Loan After Bankruptcy?

Sawin & Shea

A variety of factors determine whether or not you’ll be able to discharge all of certain personal loans, including whether the loan is secured or unsecured and whether you file via Chapter 7 or Chapter 13 bankruptcy. If you fail to repay an unsecured personal loan, the lender cannot repossess your assets.

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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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Tax Attorney vs Bankruptcy Attorney: What’s the Difference?

Sawin & Shea

If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. They’ll help you resolve your back taxes as part of a broader bankruptcy plan for your finances.

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Mistakes to avoid when filing for personal bankruptcy

Roths Child Law

Filing the wrong chapter Personal bankruptcies fall into two categories - Chapter 7 and Chapter 13 bankruptcies. It is important that you understand how these types of bankruptcies differ. Bankruptcy can give you a fresh start.

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Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

The remaining qualifying debts are discharged, meaning you are no longer responsible for paying them back. Chapter 13 bankruptcy sets up a 3-5 year repayment plan to pay back a portion of what you owe. At the end of the plan, any unpaid balances on the qualifying debts are discharged.

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Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

In that case, the bankruptcy court will recommend that you declare Chapter 13 bankruptcy , which consolidates your debts into a three-to-five-year repayment plan. After you file, the bankruptcy court will appoint a trustee who’s in charge of reviewing your case and for non-protected assets.

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Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.