FFGN COLLECT NY

NOVEMBER 21, 2022

Seeking replevin is common and used by debt collection lawyers to recover goods or collateral for their clients. Replevin is available to a party seeking the return of goods pursuant to a court order directing a party to return the goods or collateral to you. This would require the debtor to deliver the item(s) to the secured party.

Collateral 52

Collateral Repossession Debtor Creditors 52

Sawin & Shea

NOVEMBER 15, 2023

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. If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. What is the difference?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Sawin & Shea

DECEMBER 21, 2023

For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. It is one of the fundamental debtor protections under the Automatic Stay in the Bankruptcy Code. Within 30 days of filing bankruptcy, a debtor must file a Statement of Intent regarding secured property.

Bankruptcy 52

Bankruptcy Debtor Repossession Creditors 52

Sawin & Shea

APRIL 24, 2024

Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first. Which creditors can they pay?

Bankruptcy 52

Bankruptcy Unsecured Creditor Debtor Creditors 52

Sawin & Shea

APRIL 10, 2024

With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. In this blog, we discuss what assets and property a debtor may lose in Chapter 7 bankruptcy. Mortgages and car loans are both considered secured debts because they both have backing collateral.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Roths Child Law

APRIL 30, 2021

All debtors must pass the means test to file for Chapter 7 bankruptcy. Consumers can only file Chapter 7 bankruptcy once every eight years. The court will likely reject your request to do so if that amount of time hasn't elapsed since your last discharge. . Not passing the means test. A recently dismissed case.

Chapter 7 bankruptcy 98

Chapter 7 bankruptcy Bankruptcy Repossession Collateral 98

Sawin & Shea

NOVEMBER 24, 2021

An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. This means it can protect you from: Home foreclosures Lawsuits Evictions Wage garnishment Vehicle repossession Utility disconnection Other creditor collections Repossession of estate property Harassment.

Bankruptcy 52

Bankruptcy Garnishment Repossession Foreclosure 52

Sawin & Shea

NOVEMBER 24, 2021

An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. This means it can protect you from: Home foreclosures Lawsuits Evictions Wage garnishment Vehicle repossession Utility disconnection Other creditor collections Repossession of estate property Harassment.

Bankruptcy 52

Bankruptcy Garnishment Repossession Foreclosure 52

Consumer Financial Services Law

JANUARY 31, 2020

Joy Denby-Peterson purchased a 2008 Corvette in July 2016, and several months later the vehicle was repossessed when Denby Peterson failed to make all of the required loan payments. After repossession, Denby-Peterson filed an emergency Chapter 13 Bankruptcy petition in the Bankruptcy Court for the District of New Jersey. any act to.

Collateral 40

Collateral Repossession Bankruptcy Chapter 13 bankruptcy 40

Sawin & Shea

SEPTEMBER 14, 2022

An automatic stay prevents creditors and lenders from collecting debt or collateral on protected assets. With consumer debts, co-debtors receive the protection of an automatic stay. When it comes to filing Chapter 13, your consumer and non-consumer debt classifications determine what is and isn’t protected by an automatic stay.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Student loans 122

Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. For example, a parent or another family member may become a co-signer for a low-credit borrower so that the primary debtor can obtain a desirable loan.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

Sawin & Shea

DECEMBER 7, 2022

Many debtors make the mistake of racking up more debt before filing because they figure that they’ll be able to discharge it. Some debtors attempt to avoid the luxury item bankruptcy provision by taking a cash advance on their credit card, but this will also likely not work.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 98

Sawin & Shea

JANUARY 25, 2022

Secured debts are a type of debt backed by an asset that is used as collateral. To enforce secured debts, your creditors may repossess your car or other vehicles, they may foreclose on your mortgage, or levy against other property you have either pledged as collateral or that is subject to an involuntary lien.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Qualco

NOVEMBER 7, 2023

These often involve initiating legal proceedings against debtors intending to repossess, auction, and sell collaterals or executing payment orders to seize the debtor’s assets or income. This method allows a servicer to initiate legal proceedings to pressure a debtor while negotiating an extrajudicial settlement.

Financial Institution 95

Financial Institution Debtor Loans Collateral 95

Sawin & Shea

JUNE 21, 2023

When filing for Chapter 13, debtors don’t immediately discharge their debts. They may suspect that the debtor committed fraud or tried to deceive the court or their creditors in another way. Courts can punish this behavior by dismissing a case with prejudice, making it harder for the debtor to refile.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debtor 52

PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view. [i]

Bankruptcy 65

Bankruptcy Debtor Creditors Repossession 65

Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. That being said, most creditors allow debtors to reaffirm their secured debts, which means you can keep the property so long as you are current on payments.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Lawyers Bankruptcy Unsecured Debt 52

Roths Child Law

APRIL 30, 2021

All debtors must pass the means test to file for Chapter 7 bankruptcy. Consumers can only file Chapter 7 bankruptcy once every eight years. The court will likely reject your request to do so if that amount of time hasn't elapsed since your last discharge. . Not passing the means test. A recently dismissed case.

Chapter 7 bankruptcy 40

Chapter 7 bankruptcy Bankruptcy Repossession Collateral 40

Debt Free Colorado

DECEMBER 9, 2021

Chapter 7 bankruptcy is appropriate for unsecured debtors. Unsecured debt is debt without collateral. Collateral guarantees debt repayment. Occasionally, creditors may refuse to repossess little goods due to the expense of picking them up. Disadvantages of Chapter 7 Bankruptcy. This is a secured obligation.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable. Fortunately, you can obtain a secured card that includes collateral.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Debt Free Colorado

MARCH 3, 2023

This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment. A case may be changed from a Chapter 13 filing to a Chapter 7 liquidation if the debtor doesn’t make payments on time. What Can’t Bankruptcy Do?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Consumer Financial Services Law

DECEMBER 29, 2016

Such advice would violate the Rules of Professional Conduct, since the attorney for the creditor may not also provide legal advice to the debtor. Also, on an auto loan, there could be more than one missed payment, followed by a repossession, followed by a sale of the collateral and establishment of a deficiency balance.

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Collections Judgment Enforcement Creditor's Rights Creditors 40

Debt RR

DECEMBER 13, 2019

Many businesses are both debtors and creditors. Missing payments on secured debt causes the creditor to repossess the property as recourse. If collateral is seized, it often occurs in court, leaving a record for other partners and vendors to dig up. That’s why it behooves everyone to understand debt restructuring.

Chapter 7 bankruptcy 43

Chapter 7 bankruptcy Bankruptcy Creditors Retail 43

BN Lawyers

MARCH 23, 2020

These parties could foreclose or repossess the property securing the loans. They could lock you out of your location or repossess equipment. If so, the company may qualify as a small business debtor under the Small Business Reorganization Act of 2019 (the “ SBA ”). Lessors are the parties who lease property used in the business.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67