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What Assets Do You Lose in Chapter 7?

Sawin & Shea

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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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

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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Chapter 13 Bankruptcy Hardship Discharge: Am I Eligible?

Sawin & Shea

Instead of fighting with your creditors, you work with them proactively in the bankruptcy process to resolve your debts. In some cases, you may be eligible for a Bankruptcy Hardship Discharge. A student loan is an example of a nondischargeable debt under federal law.

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What Should You Know About Medical Debts & Bankruptcy?

Sawin & Shea

Simply put, yes, you can file bankruptcy on your medical bills. Your medical bills are considered “unsecured debts” which means there is no property that can be taken from you under contract as a result of not paying your medical bills — and most unsecured debts, like medical bills, are eligible for bankruptcy.

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Will Bankruptcy Erase ALL of My Debt?

Sawin & Shea

The type of bankruptcy you file will determine how your debts are handled. In Chapter 7 Bankruptcy: While not guaranteed, most debts are often discharged when you file a Chapter 7 bankruptcy. In Chapter 13 Bankruptcy: Chapter 13 bankruptcies work a little differently.

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Debtor Allowed to Make Voluntary Contributions to Retirement Fund While Repaying Creditors

ABI

In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] 14] Additionally, a substantial portion of Pizzo’s unsecured debts will be paid through her Chapter 13 plan.

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How Businesses Use Corporate Debt Restructuring for Liquidity

Debt RR

Debts can quickly cripple a business, and negotiating more favorable terms with creditors is usually the best way out. Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. Many businesses are both debtors and creditors. Indenture Agreement Violations.