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. Dividing assets and property during a divorce can be difficult and may require the assistance of a mediator or attorney.

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Sawin & Shea

APRIL 5, 2023

For example, if you file for Chapter 7 bankruptcy on June 5 and receive child support income on June 10, you can keep the money. Does Bankruptcy Clear Child Support? How Chapter 7 Impacts Child Support Payments As stated above, filing for Chapter 7 bankruptcy will not discharge debts related to your child support.

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Sawin & Shea

MARCH 13, 2024

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. Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars.

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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.

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Sawin & Shea

AUGUST 2, 2023

There are many reasons someone might file for bankruptcy. Some people may be overwhelmed with credit card debt, especially those who spend more than 20% of their annual net income on credit card bills, have maxed out limits on several cards, and/or can only afford to pay the minimum on credit card bills.

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Sawin & Shea

AUGUST 23, 2023

Bankruptcy Explained Bankruptcy is a powerful legal process that can help individuals or businesses that are overwhelmed by debt get a fresh start and a path to rebuild. Chapter 7 is also known as the “liquidation bankruptcy” because it allows individuals to liquidate all non-exempt assets to help pay off their debt.

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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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Sawin & Shea

JULY 6, 2022

The majority of personal guarantees cover unsecured obligations, meaning there isn’t a backing asset the lender can recover in the event that the borrower defaults. Some of these obligations include personal loans, credit card debt, and medical bills. Contact an Indianapolis Bankruptcy Attorney.

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Sawin & Shea

AUGUST 30, 2023

It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. After taking a means test, you will file papers and a petition with the bankruptcy court. Personal loans.

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Sawin & Shea

NOVEMBER 15, 2023

What’s the Difference Between Chapter 7 and Chapter 13? 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.

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Sawin & Shea

JULY 28, 2021

Taking that into account, we’ll focus on Chapter 7 Bankruptcy. Some debts are definitely dischargeable: Medical bills: This is a lifesaver because ? of the people who file for bankruptcy cite medical issues as the main reason. If you use a credit card to buy more than $725.00 Payday” type loans.

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Sawin & Shea

NOVEMBER 17, 2021

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. We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt.

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Sawin & Shea

NOVEMBER 17, 2021

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. We understand though, that keeping the lights on and the water running feels more important than paying off credit card debt.

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Sawin & Shea

JANUARY 12, 2022

They can help you throughout the entire process and even after the bankruptcy has ended when you are trying to get back on your feet. How Debt Discharge Works. The type of bankruptcy you file will determine how your debts are handled. Student loans can be particularly challenging.

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Roths Child Law

JULY 26, 2020

It can be helpful to learn more about the bankruptcy process and what happens if you need to move forward with this process. Chapter 7 bankruptcy is a popular option because it only takes a few months to complete. Creditors will not be able to continue to contact you about these debts.

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Sawin & Shea

APRIL 12, 2023

There are five different types of bankruptcy filings, but for clarity’s sake, we’ll be emphasizing Chapter 7 and Chapter 13 bankruptcy-related issues as they are two of the most common ways to file. What is the Difference Between Chapter 7 and Chapter 13?

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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.

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Collection Industry News

SEPTEMBER 23, 2020

You can begin gathering information right now by scheduling a free consultation with one of the experienced bankruptcy attorneys at Bond & Botes. The post Debt Collection Lawsuits Are Surging appeared first on Collection Industry News. We can alleviate your stress! We want to help and we can help you!

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