Roths Child Law

MAY 5, 2023

Taking advantage of exemptions In many states, Chapter 7 bankruptcy filers are permitted to choose between filing federal exemptions and state exemptions. In doing so, they’ll minimize the risk that any of their assets will be sold by their case’s trustee for the benefit of their creditors.

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Roths Child Law

JANUARY 14, 2022

Here is more on what you need to know about dischargeable and nondischargeable debt before filing for Chapter 7 bankruptcy. In most cases, unsecured debts are usually discharged by filing for Chapter 7 bankruptcy. Debts that were not disclosed when filing for bankruptcy. Court fees. Some unpaid taxes.

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Roths Child Law

NOVEMBER 2, 2021

If you are thinking of filing for Chapter 7 bankruptcy, below are some tips you might want to consider beforehand. It is important to review all your debts before filing for bankruptcy. You want to have a complete list so that everything can be listed in the bankruptcy proceedings. Analyze your debts.

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Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. What Is Chapter 7 Bankruptcy?

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Roths Child Law

APRIL 30, 2021

Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts. Not passing the means test.

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Sawin & Shea

SEPTEMBER 14, 2022

Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy. They can assist you through the bankruptcy process and can keep creditors from unlawfully harassing you.

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Albuquerque Law

JULY 30, 2020

To do this, many people consider filing bankruptcy, but they often wonder: how long will it take for their debt to be discharged if they file bankruptcy? How long does it take to obtain a bankruptcy discharge? The duration of your Chapter 7 bankruptcy case often depends on the details of your case.

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Albuquerque Law

JULY 30, 2020

To do this, many people consider filing bankruptcy, but they often wonder: how long will it take for their debt to be discharged if they file bankruptcy? How long does it take to obtain a bankruptcy discharge? The duration of your Chapter 7 bankruptcy case often depends on the details of your case.

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Sawin & Shea

MARCH 15, 2022

Your investment real estate’s outcome depends entirely on whether you file for Chapter 7 or Chapter 13 bankruptcy. Investment Real Estate in Chapter 7 Bankruptcy. Chapter 7 bankruptcy is a great option for those looking to discharge eligible debts. Investment Property Arrearages.

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Sawin & Shea

JANUARY 5, 2022

If for some reason you realize that you forgot to add a creditor after you have already filed, your attorney can help you understand your options. Generally, adding debts after a bankruptcy is filed is allowed so long as the debt existed before you filed and it is added within a certain amount of time. Pre-Petition Debts.

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Sawin & Shea

JANUARY 25, 2024

Many people are also struggling to find employment and housing, so they may need to move to another location during bankruptcy. Can you move out of state while in Chapter 7 bankruptcy ? Can I File for Bankruptcy in Another State? Can I File for Bankruptcy in Another State? Under the U.S.

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Sawin & Shea

AUGUST 2, 2022

Below, we’ll cover the various reasons why a person might want to convert to Chapter 7, the benefits of converting, who qualifies to convert, the cost involved, and how the process works. For What Reasons Would Someone Convert From Chapter 13 to Chapter 7? How Sawin & Shea, LLC Can Help.

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Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

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Troutman Sanders

JANUARY 29, 2024

As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition. She listed 45 unsecured creditors in her schedules of assets and liabilities, including the $7,400 credit card debt at issue. Metris Companies was not listed in the debtor’s schedules.

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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

OCTOBER 26, 2022

Discharging Personal Loans Through Chapter 7 Bankruptcy. Whether or not you should discharge a personal loan in Chapter 7 bankruptcy will depend on if the loan is secured or unsecured. A bankruptcy filer can also discharge an unsecured personal loan when there’s a lawsuit revolving around it.

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Sawin & Shea

AUGUST 9, 2022

However, not everyone can afford the payment plan, and thus many choose a Chapter 7 bankruptcy, which can more easily wipe out their debt. For those that choose a Chapter 7 bankruptcy, a reaffirmation agreement can help protect property from being repossessed as collateral. Some criteria must be met.

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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

JULY 5, 2023

Declaring Chapter 7 bankruptcy may be the best solution in cases like this. There are effects that should be considered, preferably alongside a bankruptcy attorney. What is Chapter 7 Bankruptcy? Filing for bankruptcy is more common than you might think. How Can a Bankruptcy Attorney Help Me?

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Sawin & Shea

SEPTEMBER 7, 2022

What Will I Lose When Filing for Bankruptcy? The majority of those who file Chapter 7 bankruptcy do not lose any of their assets, but it’s possible to lose nonexempt assets and properties when filing. A nonexempt asset is something that can be sold by a trustee to pay creditors.

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Roths Child Law

JULY 12, 2023

For example, a Chapter 7 to another Chapter 7 bankruptcy typically has an 8-year wait time. Or, a Chapter 7 to a Chapter 13 bankruptcy may require people to wait 4 years. What is liquidation bankruptcy? Liquidation bankruptcy is another name for Chapter 7 bankruptcy.

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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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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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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

MARCH 28, 2023

The full scope of the bankruptcy trustee’s responsibilities will depend on whether you’re filing under Chapter 7 or Chapter 13. Whether you’re filing Chapter 7 or Chapter 13, the bankruptcy trustee will hold the 341(a) Meeting of Creditors, an obligatory meeting for bankruptcy filers.

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Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Unlike car and home loans, unsecured debt means that creditors aren’t able to reclaim property if you default. So let’s get into the details.

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Roths Child Law

MAY 7, 2023

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. Liquidation vs. reorganization Chapter 7 bankruptcy is known as liquidation bankruptcy. This stops virtually all collection actions from creditors.

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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. The defendant offered a “pause” program that allowed the plaintiff to suspend service for up to nine months at a cost of $5 per month, which the plaintiff accepted.

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Sawin & Shea

JANUARY 19, 2022

After you file, it is possible that your tax debt will get discharged, but it depends on your individual circumstances and which type of bankruptcy you file. In a Chapter 7 bankruptcy case, for example, you can only get income tax debt discharged. How to File Taxes After Bankruptcy. Filing Taxes After Chapter 7.

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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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Roths Child Law

FEBRUARY 9, 2021

If you've been considering filing for Chapter 7 bankruptcy in Tennessee, you've probably heard of the bankruptcy means test. The means test is a relatively lengthy form that is used to determine whether your disposable income is low enough to qualify you for Chapter 7 bankruptcy relief. Median income.

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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 20, 2024

A bankruptcy attorney helps someone clarify and organize their finances while getting most types of debt discharged. They usually assist people with pursuing the common routes of Chapter 7 bankruptcy or Chapter 13 bankruptcy to address tax debt. Can a Bankruptcy Lawyer Help Me Resolve Tax Debt?

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Sawin & Shea

APRIL 26, 2023

The judgment lien definition is that if you owe a creditor money and don’t pay, they can sue you for the balance. If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. What Is a Judgment Lien?

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Sawin & Shea

AUGUST 25, 2021

However, the requirements for Chapter 7 and Chapter 13 Bankruptcy are different, so we’ll discuss each of them separately. In Chapter 7 Bankruptcy , you file papers with the Bankruptcy Court asking for immediate protection from your creditors and ultimately for an elimination (discharge) of most debts.

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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

OCTOBER 25, 2023

Chapter 7 Timeshare Bankruptcies If you file for Chapter 7 bankruptcy , you might be able to keep your timeshare. Timeshares usually don’t have equity and won’t be sold by the trustee in a Chapter 7 bankruptcy. The court will distribute equity to your creditors.

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