Sawin & Shea

APRIL 10, 2024

If you are not, this test determines how much you are required to pay back to your unsecured creditors in a Chapter 13 reorganization. Mortgages and car loans are both considered secured debts because they both have backing collateral. People filing bankruptcy can protect their vehicles through the personal property exemption.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. This amount is then used to give unsecured lenders more chances to recoup a little of their outstanding capital.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

Sawin & Shea

MARCH 15, 2022

Many people considering this option wonder what will happen to their investment real estate if they file. When filing under Chapter 13, you’re required to pay unsecured creditors — meaning they can’t recover physical property as collateral — the liquidated value of your nonexempt property.

Chapter 7 bankruptcy 98

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Creditors 98

Debt Free Colorado

JANUARY 27, 2022

Some people swear they’ll never file bankruptcy, while others regularly use it as a tool. Why do people file for bankruptcy? But why do so many people find themselves in financial trouble? Many people wonder how much cash they can have in the bank when declaring bankruptcy. Chapter 7 Exempts How Much Cash?

Bankruptcy 75

Bankruptcy Chapter 7 bankruptcy Unsecured Creditor Debtor 75

Sawin & Shea

APRIL 17, 2024

The reason why creditors prefer you file Chapter 13 is because Chapter 7 bankruptcy discharges unsecured debts after the trustee liquidates nonexempt assets. This means that unsecured creditors, such as credit card companies, won’t receive what the debtor owes.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Debt Free Colorado

DECEMBER 9, 2021

Most people filing for either Chapter 7 or 13 bankruptcy will work directly with an attorney to determine the best option for each financial circumstance. Creditors are prohibited from contacting you after your petition is filed. Unsecured debt is debt without collateral. Collateral guarantees debt repayment.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Debt Free Colorado

APRIL 9, 2020

The efforts to contain the Coronavirus pandemic have pushed hundreds of thousands of people out of work. Below you’ll find some strategies for working with your creditors and deciding which bills are the most important if you can’t pay them all. How do I pay my Bills if I’m out of Work due to a Stay-At-Home Order?

Student loans 82

Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82