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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

In some cases, you may be eligible for a Bankruptcy Hardship Discharge. Chapter 13 bankruptcy involves entering into a reorganization plan to protect assets, catch up on arrears on houses or cars, and force unsecured creditors to take reduced amounts based on what the bankruptcy law requires that you pay them.

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Will Bankruptcy Erase ALL of My Debt?

Sawin & Shea

They can help you throughout the entire process and even after the bankruptcy has ended when you are trying to get back on your feet. 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.

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What Should You Know About Medical Debts & Bankruptcy?

Sawin & Shea

Many Chapter 13 Debtors pay pennies on the dollar back to their unsecured creditors. After you have completed your Chapter 13 payment plan, if there is any remaining unsecured debt, it will be discharged with a few exceptions like some taxes, most student loans, and child support.

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Dealing With Debt From COVID-19

Debt Free Colorado

Either way, you should speak with an experienced debt relief attorney about strategies for dealing with unsecured creditors. Student Loans. You should call your student loan servicers about forbearance, which will temporarily stop or reduce your payments. Experian Credit Card and Debt Relief List.