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 matters because not all debts are equal in the eyes of the law. Secured vs Unsecured Debt: What’s the Difference?

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Sawin & Shea

JULY 28, 2021

If you file for Chapter 13 Bankruptcy in Indiana, you will still be obliged to pay something toward your debts; it’s just that you will be given a payment plan that reduces your unsecured debts based upon your ability to pay, that puts you on a manageable schedule, and that holds your creditors at bay while you work on making achievable payments.

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Sawin & Shea

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Unlike unsecured personal loans, secured loans involve some form of collateral that the lender can repossess if the borrower fails to make payments. Old lease balances.

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Sawin & Shea

AUGUST 30, 2023

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. You are not allowed to have more than $465,275 of unsecured debt (such as credit card or medical debt) or more than $1,395,875 of secured debt (such as a house, property, or vehicle). Collection agency bills.

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Sawin & Shea

FEBRUARY 28, 2024

Discharging Personal Loans Through Chapter 7 Whether you should discharge a personal loan in Chapter 7 will depend on whether the loan is secured or unsecured. You can discharge an unsecured loan whether it’s current, delinquent, or in default, even if the original lender sold it to a collection agency or debt buyer.

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Debt Guru

AUGUST 30, 2021

When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. So, when should you seriously consider debt relief?

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Sawin & Shea

MARCH 27, 2024

When you file a Chapter 7 petition, you’ll receive an automatic stay protecting you from lawsuits and other collection efforts. This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you. Will My Bankruptcy Filing Impact My Current Employment?

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