Sawin & Shea
NOVEMBER 15, 2023
Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. It distinguishes between what are called ‘secured’ and ‘unsecured’ debts, which are terms you need to know before filing for bankruptcy.
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. If the amount is over 25% of the unsecured debt, the person qualifies for Chapter 13.
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Sawin & Shea
MARCH 13, 2024
Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. What’s the Difference Between Chapter 13 and Chapter 7 Bankruptcy?
Jimerson Firm
AUGUST 7, 2020
The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act?
Sawin & Shea
JUNE 7, 2023
The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan. Cosigners and Chapter 7 Bankruptcy Chapter 7 is a form of bankruptcy that allows individuals to discharge most unsecured debts, such as credit card debt or medical bills, without having to repay them.
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. Unlike Chapter 7 bankruptcy, Chapter 13 packages your different forms of debt into a single repayment plan.
Debt Free Colorado
MARCH 3, 2023
For instance, it may permit the restructuring of debts due to “secured” creditors, or creditors who have an interest in assets like a mortgage or a car loan, but it typically won’t abolish those debts. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off?
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