Sawin & Shea
AUGUST 24, 2020
Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.
Sawin & Shea
JANUARY 18, 2023
Although the idea of liquidating your assets may sound stressful and undesirable, most of those who declare Chapter 7 can retain all of their possessions after filing. 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Sawin & Shea
NOVEMBER 15, 2023
If a debt is unsecured, no collateral is put up as a guarantee to pay. Unsecured Debt What is unsecured debt? However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt.
Sawin & Shea
JANUARY 25, 2022
However, before a lawsuit is filed, lenders of unsecured debt will typically hire debt collectors in an attempt to recover what you owe. If an agreement cannot be reached between the debtor and the debt collector, the lender will likely file a lawsuit against you. Examples of Unsecured Debts.
Collection Industry News
SEPTEMBER 23, 2020
. • Debt collection cases have claimed an increasing share of the civil docket, making up about 30% of the civil court caseload in the one state where comprehensive data was available. • The dollar value of claims filed annually by debt buyers increased from $6 billion in 1993 to $98 billion in 2013. Filing bankruptcy.
Expert insights. Personalized for you.
98 
Let's personalize your content