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.
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.
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Sawin & Shea
JANUARY 25, 2022
However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. How your debt is handled in bankruptcy will depend on which type you file.
Fraser
JUNE 25, 2020
It is important for creditors and their advisors to carefully review “first day” motions in order to know how their rights may be affected, and take action as appropriate. A creditor may need to file an objection to requested first-day relief to protect its rights.
Debt RR
DECEMBER 13, 2019
Some major retailers filed for Chapter 11 bankruptcy in 2019, including Beauty Brands, Innovative Mattress Solutions, Things Remembered, Z Gallerie, Kona Grill, Perkins & Marie Callender’s, Sugarfina, Forever 21, and Barneys New York. bankruptcy code for personal bankruptcies. Secured Creditors.
Collection Industry News
DECEMBER 21, 2020
Secured creditors retain their liens until receipt of the full amounts owed as of the plans’ effective dates. Consumers have either 15 years or five years after the maturity date, whichever is longer, to make payments toward secured debts. Some Consumers Receive Immediate Discharges without Making Any Payments.
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