Collateral Garnishment Judgment Repossession 
Sawin & Shea
JANUARY 18, 2023
Unsecured debts are not backed by collateral, such as car payments and home mortgages. Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. What is Chapter 7 Bankruptcy?
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.
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Debt Free Colorado
APRIL 9, 2020
They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home. Your Mortgage.
Debt Free Colorado
MARCH 3, 2023
A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged. Do Bankruptcies Come in Different Types?
Debt Free Colorado
DECEMBER 9, 2021
Complete protection from creditors – This includes wage garnishment and debt collection. 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. and the majority of court judgments.
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