Sawin & Shea

AUGUST 24, 2022

Although sometimes borrowers can receive a forbearance or work out a repayment plan with their lenders, many are unable to reach this agreement, meaning they’re at risk of losing their homes. If you’re at risk of losing your home, Chapter 13 bankruptcy could be your best option. What Is Chapter 13 Bankruptcy?

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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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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Roths Child Law

MARCH 11, 2022

A bankruptcy can be a good way to get your financial health back on track, but it also comes with some limitations. It may make it so it’s harder for you to get credit or loans in the future, at least for a few years. If you do need a personal loan after your Chapter 7 or Chapter 13 bankruptcy, it may be possible to get it.

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Sawin & Shea

JUNE 16, 2021

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. There are a number of steps you can take to improve your credit score and to make it likely that you can be approved for a loan. Prequalify through several lenders. This is not true.

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Credit Corp

JANUARY 24, 2024

While there is no minimum requirement, most lenders prefer a credit score of 620 or above. A VA home loan is a mortgage backed by the Department of Veterans Affairs (VA) for service members, veterans, and their families. The purpose of VA loans is to help veterans purchase homes with lower interest rates and better terms.

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Roths Child Law

JANUARY 23, 2023

For example, it may be harder for you to be approved for loans or credit after filing. If you need a personal loan after filing for bankruptcy , it may be approved. The amount of time it will take to get the loan depends on the type of bankruptcy you choose and how long it has been since you filed.

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Roths Child Law

MAY 13, 2024

Although there are exceptions to this general rule, Chapter 7 might not be the best option for those concerned with foreclosure, although Chapter 13 could potentially provide a more viable solution. However, it does not automatically provide a means to prevent foreclosure in the long term.

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Sawin & Shea

JANUARY 25, 2023

Raising interest rates typically slows down the economy as well as the rate of inflation, but these rates have a direct impact on people’s ability to obtain new loans. Here’s what you need to know about getting a new loan and interest rate after bankruptcy. Usually, this is cents on the dollar.

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Sawin & Shea

OCTOBER 4, 2023

One of the most common questions from those who file for Chapter 7 or Chapter 13 bankruptcy is, “Can I buy a house after bankruptcy?” and “After bankruptcy discharge, when can I buy a house?” In short, yes, you will be able to purchase a home after bankruptcy. Read on to learn more.

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Credit Corp

FEBRUARY 23, 2024

That said, the length of time you have to wait before getting approved for a mortgage largely depends on the type of loan you’re shopping for and how you’ve managed your credit. Read on to learn more about buying a house after bankruptcy. How Soon Can You Buy a House After Filing Bankruptcy? A minimum down payment of 3.5%

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Sawin & Shea

JULY 6, 2022

A common question we receive from those considering bankruptcy is how it impacts personal guarantees. If you’re considering filing for bankruptcy, you need to consult with a bankruptcy attorney before signing a personal guarantee. A personal guarantee loan is a signed agreement stating that you’re liable for a debt.

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Debt Free Colorado

DECEMBER 9, 2021

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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Sawin & Shea

MARCH 6, 2024

Understanding Debt Consolidation Debt consolidation is the process of taking out a brand-new loan and using the money to pay off other loans or debts. Pros & Cons of Debt Consolidation Debt consolidation can be great if you qualify for a loan with a low enough interest rate. How Does Debt Consolidation Work?

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor.

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Sawin & Shea

APRIL 19, 2023

You’ve probably driven past storefronts with bright lights offering quick cash through payday loans. The companies that offer these short-term loans tout them as a surefire way to get out of a financial bind. Payday loans are incredibly risky. Read on about what payday loans are and why you should think twice before getting one.

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Sawin & Shea

JUNE 7, 2023

Co-signers are beneficial for those seeking to obtain loans and credit cards. If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Plus, being a co-signer can help a debtor build credit.

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Sawin & Shea

MAY 26, 2020

I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. The first thing you might want to do is talk to your lender. If you’re far enough behind that your lender won’t work with you, we’ve got some options in bankruptcy. This is voluntary.

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Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. have a federally backed HUD/FHA, VA, USDA, Fannie Mae, or Freddie Mac loan. *If How to Provide a Temporary Mortgage Forbearance Notice While in Chapter 13 Bankruptcy.

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Titan Consulting

AUGUST 23, 2020

If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score. Federally managed student loans received an automatic six-month payment waiver.

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Credit Corp

NOVEMBER 12, 2020

That means that within two to four years after successfully finishing a Chapter 13 bankruptcy, it will fall off your credit. Will a High Credit Score Help You During a Bankruptcy? A bankruptcy also temporarily wipes out all the goodwill you might have developed with your timely payments.

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Roths Child Law

OCTOBER 18, 2021

As you are likely aware, there are two types of bankruptcy that consumers can choose to file. There's Chapter 7 bankruptcy, which involves the liquidation of some of your assets. Many people are worried that they might lose everything when they file for bankruptcy. Doing so may allow you to keep it. .

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Sawin & Shea

APRIL 26, 2023

One of the most significant consequences is the damage it can cause to your credit score, making it challenging to secure loans or obtain credit in the future. If that’s not possible for you, another option is to avoid it through Chapter 7 or Chapter 13 bankruptcy court.

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Sawin & Shea

DECEMBER 7, 2023

In the state of Indiana, law dictates that the lender must contact you at least 30 days prior to filing the suit with the following information: The lender must inform you of the default. The lender must provide you guidance in seeing the assistance of a mortgage foreclosure counselor.

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Sawin & Shea

NOVEMBER 8, 2022

Rather than have your car seized involuntarily, you can give up your vehicle willingly to your lender. Firstly, if your financial problems are only temporary, you should contact your lender to see if there’s a way in which you can make late payments without being at risk of repossession. What Is Voluntary Repossession?

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Sawin & Shea

APRIL 6, 2021

Plenty of people file for bankruptcy each year — possibly including your friends and family, even if they didn’t tell you about it. In recent years, just over 750,000 Americans per year have filed for Chapter 7 , Chapter 11, or Chapter 13 bankruptcy. Thinking Employed People Do Not Need Bankruptcy.

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Sawin & Shea

FEBRUARY 2, 2022

We can help you file a Chapter 7 or Chapter 13 bankruptcy, or we can point you in another direction if bankruptcy is not right for you. Consolidation Loans. Balance transfers are another do-it-yourself option similar to consolidation loans. 5 Tips and Solutions for Managing Credit Card Debt.

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Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. have a federally backed HUD/FHA, VA, USDA, Fannie Mae, or Freddie Mac loan. *If How to Provide a Temporary Mortgage Forbearance Notice While in Chapter 13 Bankruptcy.

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Sawin & Shea

APRIL 12, 2023

However, there are other ways to pay back family and friends that the courts allow and won’t negatively impact the family member or friend who has loaned you money. What is the Difference Between Chapter 7 and Chapter 13? Chapter 7 looks at assets that you owned at the time you filed. Who Is an Insider?

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Sawin & Shea

APRIL 5, 2023

Filing for Chapter 7 or Chapter 13 bankruptcy is sometimes the best solution for those struggling with overwhelming debt. However, many debtors have questions regarding how filing for bankruptcy impacts child support payments and debts. Does Bankruptcy Clear Child Support?

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Sawin & Shea

SEPTEMBER 13, 2023

If you choose bankruptcy, there are also different options depending on whether you choose a Chapter 13 bankruptcy or a Chapter 7 bankruptcy. If you are facing foreclosure or bankruptcy, the best way to determine which choice is right for you is to speak with an experienced bankruptcy attorney.

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Debt Free Colorado

MARCH 3, 2023

Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. Since the effects are severe and long-lasting, bankruptcy is typically seen as the last option for managing debt. Do Bankruptcies Come in Different Types?

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Debt Free Colorado

MARCH 10, 2023

At the Law Office of Clark Daniel Dray (debtfreecolorado), you can be sure that a bankruptcy attorney will inform and educate you about the myths about bankruptcy in Littleton, CO. These are the five most prevalent bankruptcy myths. Short sales and loan modifications are viable alternatives to bankruptcy.

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Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Credit Corp

MAY 30, 2023

Additionally, lenders may hesitate to lend to you if there is a bankruptcy on your credit report. Do All Bankruptcies Have Equal Impact? The type of bankruptcy you file and the amount of debt you need to get rid of have varying effects on your credit score. With Chapter 13, you’re making good on some or all your debt.

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Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

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