Debt Free Colorado

DECEMBER 7, 2016

Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. 13 bankruptcy.

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Collections Law

SEPTEMBER 10, 2021

There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount the business owes you. You should not give up, though. At Law Offices of Alan M.

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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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Roths Child Law

MAY 7, 2023

Bankruptcy is a legal process that allows individuals or businesses to eliminate or reorganize their debt. The goal of bankruptcy is to provide debtors with a fresh start financially while also helping to ensure that creditors receive some repayment for their debts.

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Debt Free Colorado

JANUARY 20, 2024

You can consider filing for bankruptcy if you have overwhelming medical debt or persistent financial struggles. Bankruptcy can halt legal actions and start a fresh financial start. Various alternatives to bankruptcy are available. Some options are negotiating with creditors, structured payment plans, and debt consolidation.

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Troutman Sanders

NOVEMBER 8, 2023

Ultimately, the plaintiff filed for chapter 7 bankruptcy protection, listed the defendant as an unsecured creditor, and obtained a discharge of her debt. This same evidence also supported findings that the plaintiff was financially vulnerable and that the defendant had engaged in repeated collection activity.

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Sawin & Shea

JANUARY 19, 2022

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. When you put the two together, it can cause debtors even more stress. However, once you file, an automatic stay will go into effect, which will put a pause on IRS collection efforts. How to File Taxes After Bankruptcy.

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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 6, 2024

Creditors do not have to participate. If the creditor tires of waiting for payments they can pursue legal remedies like lawsuits. Your credit also continues to get damaged while you are in the program as you miss monthly payments to the creditors. The issue with these programs is that they are voluntary.

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Credit Corp

MAY 3, 2023

However, we’ve provided some basic answers below to the question, “What is the difference between Chapter 7, 11, and 13 when it comes to bankruptcy?” In This Piece Understand the Types of Bankruptcy How Do You Know Which Bankruptcy Type is Right for You? What Is Chapter 11 Bankruptcy?

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Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. While it can provide relief from overwhelming debt, it may have significant consequences, including damage to your credit score, tax implications, and potential legal actions from creditors.

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Sawin & Shea

SEPTEMBER 6, 2023

While both are good options to stop foreclosure (or postpone), in this blog we’ll focus on Chapter 13. Unlike Chapter 7 bankruptcy, Chapter 13 does not require the filer to liquidate all their assets (including their home) to pay off creditors. Chapter 13 is a different animal.

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Debt Free Colorado

DECEMBER 9, 2021

Most people filing for either Chapter 7 or 13 bankruptcy will work directly with an attorney to determine the best option for each financial circumstance. Chapters 7 and 13 of the Bankruptcy Code – Awareness. You should get legal assistance from a knowledgeable bankruptcy attorney in Denver.

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Sawin & Shea

JUNE 7, 2023

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. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt. What’s a Guarantor?

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Sawin & Shea

MARCH 20, 2024

They typically answer questions from a debtor about back taxes, filing annual tax returns, and tax penalties they may owe. A bankruptcy attorney helps someone clarify and organize their finances while getting most types of debt discharged. Protecting What You Own Asset protection is always a concern when filing bankruptcy.

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Sawin & Shea

NOVEMBER 15, 2023

Put simply, Chapter 7 is a 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 debtor’s non-exempt assets. This is what is called a “surrender” under bankruptcy law.

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Sawin & Shea

AUGUST 2, 2023

Bankruptcy Relief Filing for bankruptcy can not only assuage the anxiety and guilt associated with insolvency, but it can provide much-needed relief from creditors’ harassing phone calls. Many people say this is one of the best benefits of filing for bankruptcy. What are the differences between the two?

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Fraser

JUNE 25, 2020

As chapter 11 bankruptcies continue to increase (many analysts are forecasting the “ wave ” of filings to grow), more businesses and individuals will be impacted by the fallout. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. Proof-of-Claim Bar Date.

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Sawin & Shea

MARCH 27, 2024

In this blog, we take a close look at ways Chapter 7 bankruptcy affects future or current employment. If you have additional questions, we encourage you to read our online articles about filing bankruptcy. What Is Chapter 7 Bankruptcy? Chapter 7 is often referred to as liquidation bankruptcy.

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Sawin & Shea

JULY 12, 2023

Both forms of bankruptcy provide an automatic stay, which is a legal order that protects you from creditors. Once you’ve filed your bankruptcy petition, creditors will no longer be able to take any action to collect debts against you. What Happens If You File Chapter 7 Bankruptcy?

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Debt Free Colorado

JANUARY 10, 2022

When a business or an individual cannot meet financial responsibilities or pay to creditors, there is an option to declare bankruptcy. Bankruptcy is a legal process to discharge debt and starts with a bankruptcy petition filed in court. Federal courts have exclusive jurisdiction over bankruptcy cases.

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Sawin & Shea

SEPTEMBER 29, 2021

Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. Though it can negatively impact your credit score, many debtors find that dealing with a bad credit score for a few years is better than constantly being weighed down by debt and harassed by creditors.

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Sawin & Shea

SEPTEMBER 29, 2021

Though it can be a scary and stressful process, the benefits of filing for bankruptcy tend to outweigh the detriments. Though it can negatively impact your credit score, many debtors find that dealing with a bad credit score for a few years is better than constantly being weighed down by debt and harassed by creditors.

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Debt Free Colorado

JANUARY 27, 2022

They then exercise control over the merchandise sold to satisfy creditors. They will sell them and use the revenues to pay for the bankruptcy’s fees , charges, and expenditures before paying creditors. The Trustee confiscates your bank and savings accounts when the bankruptcy order is issued. Non-Exempt Assets.

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Sawin & Shea

JULY 13, 2022

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. As a result, the majority of debtors who file for Chapter 7 bankruptcy do not get their college loans dismissed.

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Debt Free Colorado

MARCH 3, 2023

What Can’t Bankruptcy Do? What Should I Consider Before Filing for Bankruptcy? Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? Are My Creditors capable of appealing My Bankruptcy? What Debts are Discharged in Bankruptcy? What Can’t Bankruptcy Do?

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Sawin & Shea

DECEMBER 22, 2021

Choosing the wrong time to file for bankruptcy can tremendously impact your case in a negative way, including the possibility of dismissal. When you file for bankruptcy, creditors evaluate pre-bankruptcy spending to ensure that you are not trying to take advantage of the bankruptcy process.

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Sawin & Shea

NOVEMBER 8, 2023

Collection Agency Involvemen t: After being 90 days delinquent on a credit card payment, the company might send you to their collections department. Informing your creditors of your particular financial situation could make them willing to waive a penalty fee or keep an interest rate at a manageable level.

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Sawin & Shea

APRIL 6, 2021

People sometimes avoid bankruptcy because they’re afraid it will prevent them from accomplishing their life goals. Life after bankruptcy could look much better than it does now. Here are some positive things that happen during and after bankruptcy: Collection calls stop. High-Pressure Tactics from Creditors.

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions.

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PBWT

APRIL 14, 2021

A discharge of debt in bankruptcy “operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any such debt as a personal liability of the debtor.” A discharge injunction does not bar the collection of such debts.

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Sawin & Shea

FEBRUARY 16, 2022

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. Individuals can file an emergency bankruptcy, also known as a skeleton bankruptcy, under Chapter 7 and Chapter 13. In 2005, the U.S.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. What Do the Various Kinds of Bankruptcy Entail? There are many intricacies that set Chapter 7 and Chapter 13 Bankruptcy apart. What does each one mean?

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BN Lawyers

MARCH 25, 2019

A clever debtor was nevertheless unsuccessful in trying to use the Bankruptcy Code to escape a well-drafted arbitration clause contained in a credit card agreement. Mines made numerous sallies against the arbitration clause, including some arising out of his chapter 7 bankruptcy. Mines filed a Chapter 7 case.

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Collection Industry News

DECEMBER 21, 2020

Currently, Chapter 7 allows consumers with nominal disposable monthly income to discharge their debts after liquidating any non-exempt assets to repay their creditors. Chapter 13 provides for consumers to discharge their debts after paying their disposable income to creditors under a three- or five-year repayment plan.

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Sawin & Shea

JANUARY 25, 2022

If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. In some cases, the assets or secured interest is something a creditor voluntarily agrees to in a lien; in other cases, the lien may be involuntary.

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Debt RR

DECEMBER 13, 2019

Debts can quickly cripple a business, and negotiating more favorable terms with creditors is usually the best way out. A B2B company may be in financial trouble because it’s having trouble collecting on its own outstanding invoices. Many businesses are both debtors and creditors. Of course, it’s easier said than done.

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