Sawin & Shea

JANUARY 25, 2022

However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral.

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Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. Additionally, filing for bankruptcy before a divorce can save you the headache of dealing with creditors in the future.

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Sawin & Shea

APRIL 17, 2024

In this blog, we’ll discuss how Chapter 13 usually affects credit scores, and we’ll give you actionable tips to begin rebuilding your credit. If you have additional questions regarding Chapter 13 or Chapter 7 bankruptcy, contact the attorneys at Sawin & Shea, LLC.

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Sawin & Shea

MARCH 9, 2022

Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral. Secured debts refer to debts with collateral, like house payments and car payments. Will Bankruptcy Eliminate All of My Debts?

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Sawin & Shea

OCTOBER 11, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is all about liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy, the court appoints a trustee who is in charge of selling off (liquidating) a declarer’s non-exempt assets.

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Sawin & Shea

JUNE 7, 2023

The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan. Cosigners and Chapter 7 Bankruptcy Chapter 7 is a form of bankruptcy that allows individuals to discharge most unsecured debts, such as credit card debt or medical bills, without having to repay them.

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Debt Free Colorado

MARCH 3, 2023

There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed. Chapter 7 is known as liquidation in bankruptcy legislation.

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Debt RR

DECEMBER 13, 2019

These unsecured debts come in the form of payments for goods and services already received, royalties, commissions, or salaries. When a business starts skipping payments for these basic operational debts, it’s a major red flag that it’s in financial trouble. How Businesses Restructure Debt. Indenture Agreement Violations.

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Debt Free Colorado

DECEMBER 9, 2021

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. Chapter 7 (Liquidation). Advantages of Chapter 7 Bankruptcy. Disadvantages of Chapter 7 Bankruptcy.

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Sawin & Shea

DECEMBER 7, 2022

When filing for Chapter 13 bankruptcy, your home’s mortgage payments will be restructured into your repayment plan, and creditors will not be able to repossess your home or take legal action against you thanks to the bankruptcy automatic stay. Secured debts refer to debts with collateral, such as a home or car.

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