Chapter 7 bankruptcy, Foreclosure and Unsecured Debt

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

NOVEMBER 15, 2023

Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. First, let’s briefly touch on two of the most common types of bankruptcy: Chapter 7 and Chapter 13. What’s the Difference Between Chapter 7 and Chapter 13?

Unsecured Debt

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Can You Use a Bankruptcy to Stop a Foreclosure?

Sawin & Shea

SEPTEMBER 6, 2023

If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021. To many people, the most alarming thing about filing for bankruptcy is the possibility that they will lose their home.

Foreclosure

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Consumer Debt vs. Non Consumer Debt

Sawin & Shea

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys.

Chapter 13 bankruptcy

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When is filing for Chapter 13 bankruptcy a good idea?

Roths Child Law

APRIL 6, 2023

If you earn a decent, steady paycheck but you’re still struggling to pay your debts on time, it may be worth considering filing for bankruptcy. Bankruptcy Code. This opportunity will allow you to benefit from the protections of the automatic stay and the issuance of a discharge at the end of the bankruptcy process.

Chapter 13 bankruptcy

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When Should You File for Bankruptcy?

Sawin & Shea

AUGUST 2, 2023

Many people ask, when should you file for bankruptcy? Filing for Chapter 7 bankruptcy centers on liquidating assets, while Chapter 13 bankruptcy focuses on reorganization. Unsecured debt includes things like credit card debt, medical debt, and personal loans.

Bankruptcy

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Can You Reaffirm a Debt in Chapter 13?

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.

Chapter 7 bankruptcy

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What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

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?

Chapter 13 bankruptcy

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How Often Can I File for Bankruptcy?

Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Keep in mind that waiting periods are only required if a previous debt was discharged. Filing Successive Chapter 7 Bankruptcy Cases.

Chapter 7 bankruptcy

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How Often Can I File for Bankruptcy?

Sawin & Shea

OCTOBER 20, 2021

Filing Again After Chapter 7 Bankruptcy. If you plan to file again after previously filing a Chapter 7 bankruptcy the following time limits apply. Keep in mind that waiting periods are only required if a previous debt was discharged. Filing Successive Chapter 7 Bankruptcy Cases.

Chapter 7 bankruptcy

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Unsecured Debt

Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

AUGUST 23, 2020

You must qualify to file for bankruptcy, and your income must meet an income means test. If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score.

Chapter 13 bankruptcy

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Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.

Chapter 13 bankruptcy

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What Does a Chapter 13 Repayment Plan Look Like?

Sawin & Shea

JULY 22, 2020

courts have nicknamed Chapter 13 bankruptcy the “wage earner’s plan.”. What Is A Chapter 13 Repayment Plan? Chapter 13 is a personal reorganization bankruptcy. In a Chapter 13 you do not have to repay most debts in full. How Long Does A Chapter 13 Bankruptcy Plan Take? In fact, the U.S.

Chapter 13 bankruptcy

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Debtor Education Course After Filing for Bankruptcy

Sawin & Shea

JANUARY 11, 2024

(Each type of bankruptcy is named after the chapter of the code that describes it.) There are some key differences between these two types of bankruptcy.

Education

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Which type of bankruptcy best fits your needs?

Albuquerque Law

MAY 6, 2020

The following list explains the differences between Chapter 7 and Chapter 13 bankruptcies, which can help you determine which type would be best in certain circumstances: The main difference between Chapter 7 and Chapter 13 is that the latter is more of a repayment program while the former typically involves complete liquidation of nonexempt assets.

Bankruptcy

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10 Common Questions About Bankruptcy

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.

Bankruptcy

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Can I Keep My Home in a Chapter 7 Bankruptcy?

Sawin & Shea

SEPTEMBER 20, 2023

If you’re in a financial bind, your best option might be to seek a fresh start through Chapter 7 bankruptcy. In most cases, you don’t forfeit your home when you file for Chapter 7 bankruptcy. What is Chapter 7 Bankruptcy? The post Can I Keep My Home in a Chapter 7 Bankruptcy?

Chapter 7 bankruptcy

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How Long Will Chapter 13 Delay Foreclosure?

Sawin & Shea

AUGUST 24, 2022

When you’re going through the process of filing Chapter 13, foreclosure cannot occur because you’re granted an automatic stay, meaning that lenders cannot pursue your debts and recover collateral, including your home. What Is Chapter 13 Bankruptcy? Can I Stop Foreclosure with Chapter 13 Bankruptcy?

Chapter 13 bankruptcy

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

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.

Chapter 13 bankruptcy

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How to know if you need to file bankruptcy

Roths Child Law

JUNE 17, 2021

Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. Bankruptcy Court conditions its decision about whether to let a debtor file Chapter 7 bankruptcy on whether they pass their means test.

Chapter 7 bankruptcy

Chapter 7 bankruptcy Bankruptcy Unsecured Debt Debtor

How to know if you need to file bankruptcy

Roths Child Law

JUNE 17, 2021

Situations such as these may call for debtors to file bankruptcy. You'll need to pass the means test to qualify to file Chapter 7 bankruptcy. Bankruptcy Court conditions its decision about whether to let a debtor file Chapter 7 bankruptcy on whether they pass their means test.

Chapter 7 bankruptcy

Chapter 7 bankruptcy Bankruptcy Unsecured Debt Debtor

Creditor Collections Today

Secured vs Unsecured Debt: Everything You Need to Know

Can You Use a Bankruptcy to Stop a Foreclosure?

Trending Sources

Consumer Debt vs. Non Consumer Debt

When is filing for Chapter 13 bankruptcy a good idea?

When Should You File for Bankruptcy?

Can You Reaffirm a Debt in Chapter 13?

What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

How Often Can I File for Bankruptcy?

How Often Can I File for Bankruptcy?

Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

What Does a Chapter 13 Repayment Plan Look Like?

Debtor Education Course After Filing for Bankruptcy

Which type of bankruptcy best fits your needs?

10 Common Questions About Bankruptcy

Can I Keep My Home in a Chapter 7 Bankruptcy?

How Long Will Chapter 13 Delay Foreclosure?

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

How to know if you need to file bankruptcy

How to know if you need to file bankruptcy

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