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

SEPTEMBER 7, 2022

In this article, we discuss what exemptions you can expect and what you might lose when filing for bankruptcy. 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.

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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

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

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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Credit Corp

MAY 3, 2023

Bankruptcy can be complex, and even a small mistake in how you file can substantially change the outcome of your case. It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. What Is Chapter 11 Bankruptcy? What Is Chapter 7 Bankruptcy?

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Sawin & Shea

FEBRUARY 21, 2024

What Is Chapter 13 Bankruptcy? Chapter 13 bankruptcy allows people with regular income to develop debt repayment plans to discharge their eligible debts over 3 to 5 years. This is different from Chapter 7 bankruptcy which liquidates assets to pay back debts but does not involve a structured repayment plan.

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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. What to Do to Stop Foreclosure?

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Sawin & Shea

JANUARY 19, 2022

Filing your taxes after filing for bankruptcy is not as complicated as it may seem, and if you are still confused after doing some research, you can always reach out to a bankruptcy lawyer. In a Chapter 7 bankruptcy case, for example, you can only get income tax debt discharged. Filing Taxes After Chapter 7.

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Debt Free Colorado

FEBRUARY 17, 2023

Moreover, when filing bankruptcy again after being rejected for a discharge, you should work with an experienced bankruptcy lawyer to check if you can still request a discharge for the debts in your first filing. Will You File for Chapter 7 or Chapter 13 Bankruptcy?

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Sawin & Shea

MARCH 14, 2023

If you’re filing for Chapter 7 bankruptcy , you can retain exempt assets and protect them from seizure but only up to a particular point. The court-appointed bankruptcy trustee can confiscate any non-exempt assets to liquidate in order to pay back some of your 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 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. Filing Successive Chapter 7 Bankruptcy Cases. Filing Chapter 13 After a Chapter 7 Bankruptcy.

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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. Filing Successive Chapter 7 Bankruptcy Cases. Filing Chapter 13 After a Chapter 7 Bankruptcy.

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Sawin & Shea

AUGUST 2, 2023

You can file for bankruptcy in two different ways: Chapter 7 and Chapter 13. Filing for Chapter 7 bankruptcy centers on liquidating assets, while Chapter 13 bankruptcy focuses on reorganization. While it’s perfectly legal to file for bankruptcy on a ‘pro se’ (i.e.,

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Debt Free Colorado

JANUARY 10, 2022

Individuals and corporations can choose this option, but they must pass the Chapter 7 Means Test to calculate their monthly discretionary income. They can file for Chapter 7 if their disposable income is low enough. Advantages and Disadvantages of Bankruptcy Chapter 7.

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Sawin & Shea

JULY 6, 2022

Contact an Indianapolis Bankruptcy Attorney. If you’re considering filing for bankruptcy, you need a skilled lawyer at your side to help you through the process. For legal support in filing Chapter 7 bankruptcy and Chapter 13 bankruptcy in Indianapolis , contact the bankruptcy lawyers at Sawin & Shea, LLC.

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Debt Free Colorado

AUGUST 8, 2019

The means test determines whether you qualify for a Chapter 7 bankruptcy, and how long and how much your plan payment is in a Chapter 13 bankruptcy. Under this new bill, current monthly income for bankruptcy no longer includes “any monthly compensation, pension, pay, annuity, or allowance paid.

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Sawin & Shea

JANUARY 5, 2022

While you may not want to file bankruptcy, it is often the best choice if you are struggling to get by. Though filing for bankruptcy is a challenging process, it will go a lot smoother if you look into hiring an attorney to help. Adding a Creditor After a Chapter 7 Filing.

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Sawin & Shea

DECEMBER 8, 2021

In this blog, you’ll learn about some of the factors you should take into consideration before filing for bankruptcy. If you’re considering filing for bankruptcy, we encourage you to contact experienced bankruptcy lawyers today. Should I File for Bankruptcy? Call Indiana Bankruptcy Lawyers.

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Sawin & Shea

MAY 10, 2023

Defining the Most Common Types of Bankruptcy Before diving into bankruptcy’s implications for your nest egg, here is an explanation of the two most common types of bankruptcy. Chapter 7 bankruptcy or liquidation bankruptcy, allows you to discharge all or most of your debt. There are a few exceptions.

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Sawin & Shea

FEBRUARY 22, 2023

This differs from Chapter 7 bankruptcy because debtors are at risk of losing their homes during the Chapter 7 liquidation process. In addition to being able to keep your home with Chapter 13, you’ll also receive an automatic stay for your vehicle and other possessions.

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Sawin & Shea

FEBRUARY 23, 2022

There are a lot of reasons why a Chapter 13 might be the best choice for a person. However, many people who file for Chapter 13 Bankruptcy do so either because they don’t qualify for a Chapter 7 Bankruptcy or because they want to keep their house from being foreclosed upon and their car from being repossessed.

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Sawin & Shea

FEBRUARY 7, 2024

We’ll also unpack paying bankruptcy fees in installments and why it’s best to enlist the experienced bankruptcy attorney. While you can technically file bankruptcy for free without a lawyer, it’s important to retain one if possible.

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Sawin & Shea

JULY 13, 2022

As a result, the majority of debtors who file for Chapter 7 bankruptcy do not get their college loans dismissed. How do bankruptcy courts handle private student loans, however? Are private student loans treated differently by bankruptcy courts? The loan exceeded your cost of attendance (i.e.,

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Sawin & Shea

AUGUST 11, 2021

Unfortunately, there are rules to follow when it comes to inheritance and bankruptcy, so it’s important not to become blinded by that light. The lawyers at Sawin & Shea have experience at understanding the light in the dark, particularly when it comes to receiving an inheritance amidst a Chapter 7 bankruptcy or a Chapter 13 bankruptcy.

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Sawin & Shea

NOVEMBER 1, 2023

However, while bankruptcy can help, it’s important to understand how the process works, especially concerning your medical debt. At Sawin & Shea, our team of Chapter 7 and Chapter 13 bankruptcy lawyers is here to help. You haven’t filed for Chapter 7 bankruptcy in the past eight years.

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Sawin & Shea

JANUARY 12, 2021

For someone who’s pursuing Chapter 7 bankruptcy , this is especially important. Chapter 7 bankruptcies are liquidation bankruptcies, meaning non-exempt assets can be liquidated to pay your creditors back something. One of the most common assets that bankruptcy trustees seize is your tax refund.

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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 plaintiff’s lawyer sent two faxes to the defendant providing notice that the plaintiff was represented by counsel.

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Collections Law

SEPTEMBER 10, 2021

Unfortunately, some businesses cannot keep their doors open and either file or convert to a Chapter 7 bankruptcy, which liquidates all the assets and closes the business. In that case, the bankruptcy trustee will distribute the assets in an order of priority and you may receive a payment, or you may not.

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Debt Free Colorado

JANUARY 3, 2020

the bankruptcy eliminates the requirement that you pay off the debt. In a recent case we filed a chapter 7 bankruptcy for an individual on a Friday, and he had his license reinstated on the following Monday. How quickly your license is reinstated will come down to the DMV clerk you’re working with.

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Debt Free Colorado

OCTOBER 15, 2016

Your household income is an important element in determining whether you are eligible for a Chapter 7 Bankruptcy and calculating the payment amount and duration of a Chapter 13 Bankruptcy repayment plan. The bankruptcy means test compares your income to the median income for the same-size household in your state.

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Sawin & Shea

OCTOBER 11, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is all about 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 declarer’s non-exempt assets.

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Debt Free Colorado

JANUARY 27, 2022

After listing all of your assets, your bankruptcy attorney will review the exemptions to see whether any of your assets are exempt. In Chapter 7 bankruptcy proceedings, the phrase “non-exempt property” refers to a debtor’s estate property that does not qualify for a statutory exemption.

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Sawin & Shea

JUNE 21, 2023

Unfortunately, not everyone filing Chapter 13 will complete the repayment process. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy. The post Chapter 13 Bankruptcy Dismissed.

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Sawin & Shea

NOVEMBER 15, 2022

If a potential employer runs a background check, they’ll discover your bankruptcy. And if they search your credit history, they’ll also likely spot your bankruptcy filing. A Chapter 7 bankruptcy remains on your credit history for ten years, and a Chapter 13 bankruptcy will stay on your credit history for seven years.

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Sawin & Shea

NOVEMBER 2, 2022

Is it Possible to File Bankruptcy Without Telling Your Spouse? Wondering if you have to tell your spouse about the bankruptcy? It would be challenging to make it through the entire bankruptcy process without them finding out. Your bankruptcy may erroneously show up on your spouse’s credit report in the future.

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