Sawin & Shea

AUGUST 30, 2023

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). Under Chapter 13 Bankruptcy, you have time and a plan in which to repay your debts. Alimony payments.

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Sawin & Shea

JUNE 14, 2023

Declaring Bankruptcy Before a Divorce If you’re on good terms with your spouse and are struggling with unsecured debts, you may want to consider filing Chapter 7 bankruptcy before your divorce. This can also simplify the divorce process because you won’t have to divide your unsecured debts when going through dissolution proceedings.

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Sawin & Shea

MARCH 13, 2024

In this blog, you’ll learn about whether you can reaffirm your debt in Ch. Have additional questions regarding bankruptcy or reaffirming secured debts? 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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Sawin & Shea

APRIL 12, 2023

In most cases, Chapter 7 rules protect assets that are classified as exempt at the time you file versus unsecured debt which is not protected. Unsecured debt includes things like credit card debt, medical debt, and personal loans.

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Sawin & Shea

JANUARY 12, 2022

A Chapter 13 Plan can help get you back on track with secured debts that you are behind on, like house or car payments. It can also force unsecured creditors to take what the bankrutpcy law says you can afford to pay, many times cents on the dollar.

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Sawin & Shea

MARCH 7, 2023

When you file a Chapter 7 bankruptcy, it is only your unsecured debts that will be eligible for discharge. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. How Long Will Chapter 7 Bankruptcy Stay on My Credit Report?

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Titan Consulting

AUGUST 23, 2020

Chapter 7 liquidates assets and discharges qualified debts. The process takes less than a year and can eliminate the balance on most unsecured debts. Protect secured debt (home and car) from default to avoid a repossession or foreclosure. How long does a Bankruptcy stay on your credit report?

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Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets.

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Credit Corp

MAY 3, 2023

Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. But unsecured, nonpriority debts, such as medical bills and credit card debt, are only partially paid. The Trustee’s office then pays various creditors.

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Debt Free Colorado

DECEMBER 9, 2021

Chapter 7 bankruptcy is appropriate for unsecured debtors. If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . The means test decides who can seek debt relief.

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Sawin & Shea

AUGUST 24, 2022

Chapter 7 bankruptcy liquidates your assets in order to discharge unsecured debts, such as medical bills and credit card debt. If you’re eligible to file under Chapter 7 and only have unsecured debts, this may be your best course of action. Can I Stop Foreclosure with Chapter 13 Bankruptcy?

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Sawin & Shea

DECEMBER 7, 2022

Don’t Accumulate Any More Debt. If you’re already in the middle of filing for bankruptcy, any new debt that you accumulate will not be discharged. This includes credit card debt, so try to avoid racking up a substantial balance this season. Secured debts refer to debts with collateral, such as a home or car.

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Titan Consulting

SEPTEMBER 2, 2020

However, the long-term interest charged at the end of the promotional period could be as high as the existing debt, limiting its usefulness. HELOC ( home equity line of credit ) will convert unsecured debts into a secured loan using your home as collateral. What debts can I include in debt consolidation?

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Debt Guru

JULY 19, 2020

If you don’t trust yourself to refrain from using your card, cut it up or lock it away – but keep the account open. Remember that there is unsecured debt (like your credit card balances) and secured debt (such as your mortgage and auto loan). Don’t jeopardize your home. Don’t overpay for convenience.

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