Sawin & Shea

NOVEMBER 15, 2023

And possibly the most common question people ask is credit card debt is secured or unsecured. Secured vs Unsecured Debt: What’s the Difference? In broad terms, if a debt is secured, it means it is backed up by collateral property. Unsecured Debt What is unsecured debt?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Sawin & Shea

MARCH 13, 2024

In this blog, you’ll learn about whether you can reaffirm your debt in Ch. Have additional questions regarding bankruptcy or reaffirming secured debts? 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 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Sawin & Shea

DECEMBER 21, 2023

It stops: Debt collection efforts Foreclosures Wage garnishments Civil lawsuits Utility shutoffs Most other creditor actions to collect pre-bankruptcy debts The stay helps facilitate the goals of bankruptcy by preventing creditor collection efforts and allowing time for orderly debt restructuring or liquidation.

Bankruptcy 52

Bankruptcy Debtor Repossession Creditors 52

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. A secured debt means that the borrower has collateral on the debt, such as a car lease.

Chapter 13 bankruptcy 105

Chapter 13 bankruptcy Foreclosure Chapter 7 bankruptcy Bankruptcy 105

Debt Free Colorado

MARCH 3, 2023

Chapter 13’s main advantage is that it stops creditors from bothering you and allows you to keep property subject to a security interest, provided you continue to make payments in the repayment plan. The following are some indications that you might be a good bankruptcy applicant: Are debt collectors following you around?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Debt Free Colorado

DECEMBER 9, 2021

If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Debt Guru

JULY 19, 2020

Remember that there is unsecured debt (like your credit card balances) and secured debt (such as your mortgage and auto loan). The difference is that unsecured debts are not backed by collateral. You might be tempted to use your substantial home equity to consolidate debt. Don’t jeopardize your home.

Debt Consolidation 104

Debt Consolidation Unsecured Debt Collateral Personal loans 104