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. Chapter 13 involves commitment from the declarer to repay a portion of their debt over a specified period (usually three to five years).

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Sawin & Shea

SEPTEMBER 6, 2023

If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021. The good news is that homeowners can get back on their feet and keep their homes with various options to stop foreclosure.

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Sawin & Shea

SEPTEMBER 14, 2022

What is Consumer Debt? Consumer debt refers to an individual, family, or household’s debts incurred through personal spending and expenses. 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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Debt Free Colorado

DECEMBER 9, 2021

It’s a relatively straightforward technique to eliminate the majority of your debt. . Without having to repay it later, you may immediately begin rebuilding your credit. . Chapter 7 bankruptcy is appropriate for unsecured debtors. Chapter 7 is a disaster when it comes to secured debt. .

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Sawin & Shea

AUGUST 2, 2023

Some people may be overwhelmed with credit card debt, especially those who spend more than 20% of their annual net income on credit card bills, have maxed out limits on several cards, and/or can only afford to pay the minimum on credit card bills. When Should I Contact an Attorney?

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Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt. What’s a Guarantor?

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars.

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