Remove category
article thumbnail

Consumer Debt vs. Non Consumer Debt

Sawin & Shea

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?

article thumbnail

Indiana Increased Bankruptcy Exemptions in 2022. Here’s How it Affects You.

Sawin & Shea

Indiana allows debtors to exempt assets when filing for bankruptcy up to a certain monetary amount, and that amount recently increased. In this blog, we’ll share the details regarding this exemption increase, the different exemption categories, and how these exemptions impact Chapter 7 and Chapter 13 bankruptcy.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Can I Protect My Home and Personal Property in Bankruptcy?

Sawin & Shea

If you’re filing for bankruptcy, you might be assuming that you’ll lose your house and personal property. How Do I Protect My Home During Bankruptcy? During your bankruptcy, you can protect your home in two main ways. So if you’re about to lose your home, you may be able to use bankruptcy to stop the process.

article thumbnail

Mistakes to avoid when filing for personal bankruptcy

Roths Child Law

If these options are not possible, you may consider filing for bankruptcy. No matter how you handle it, bankruptcy can have a lasting impact on your life. If you handle it right, bankruptcy can give you the relief you need to get back on your feet financially. And if you mismanage it, bankruptcy can compound your financial woes.

article thumbnail

Utility Bills and Bankruptcy

Sawin & Shea

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. In practice, it would be very rare for a Chapter 7 Trustee to pursue a utility company for a preference, so prioritizing necessary utilities is a good plan.

article thumbnail

Utility Bills and Bankruptcy

Sawin & Shea

However, it’s important to keep in mind that paying one creditor and not another can be seen as preferential treatment should you decide to file for bankruptcy. In practice, it would be very rare for a Chapter 7 Trustee to pursue a utility company for a preference, so prioritizing necessary utilities is a good plan.

article thumbnail

Am I Too Old to File for Bankruptcy?

Sawin & Shea

Bankruptcy is often a valuable tool for overcoming debts, but it’s not for everyone. The number of individuals filing for bankruptcy has decreased in the last 20 years, but the number of older individuals declaring bankruptcy has increased. One in seven people filing for bankruptcy is older than 65.