Sawin & Shea

MARCH 13, 2024

It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor. All of the original terms of the loan are back in force, including the creditor’s right to repossess the collateral if you get behind on payments in the future.

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Sawin & Shea

FEBRUARY 16, 2022

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. An automatic stay is an injunction prohibiting creditors from collecting debts. Additionally, businesses can file an emergency bankruptcy under Chapter 11, but this is rare.

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Credit Corp

APRIL 26, 2024

Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. The IRS notes that cancellation can occur when the creditor gives up on collecting because it’s exhausted its resources and is unable to collect. In some cases, cancellation can come about as an agreement between you and the creditor.

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. Creditors are prohibited from contacting you after your petition is filed. Your budget determines your monthly payment. The lender protects the borrower against foreclosure.

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Debt Free Colorado

OCTOBER 12, 2023

The complicated procedure of filling out bankruptcy documents needs the assistance of Colorado bankruptcy lawyers , like the Law Office of Clark Daniel Dray. It is essential to disclose past financial transactions and history, including income, lawsuits, safe deposit boxes, foreclosures, and more.

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Credit Corp

MAY 3, 2023

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. Are My Creditors capable of appealing My Bankruptcy? This type of bankruptcy does not stop secured creditors from seizing your property, so if you have money to pay the debt, this isn’t the best option to take. What Can’t Bankruptcy Do?

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Sawin & Shea

FEBRUARY 9, 2022

Filing for chapter 13 bankruptcy can seem like a daunting task, but it’s often the right move for those who are facing foreclosure, repossession, or have exorbitant debts. Opening new lines of credit and making on-time payments shows the credit bureaus that you handle credit responsibly, and you’ll build up your score as a result.

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Credit Corp

JANUARY 5, 2021

It’s a good idea to double check with your bankruptcy lawyer about whether you need to claim 1099-C income relevant to your bankruptcy discharge. The creditor that sent you the 1099-C also sent a copy to the IRS. The creditor must file a 1099-C the year following the calendar year when a qualifying event occurs.

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Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Payment status (e.g., your own lawyer to fight on your behalf. This is most effective when you’re trying to remove late payments, paid collections, or paid charge-offs.

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Sawin & Shea

JANUARY 25, 2023

Filing for Chapter 13 bankruptcy is also critically important if you’re at risk of home foreclosure. Chapter 13 bankruptcy can even stop a home foreclosure up until the sheriff’s sale. Once you file Chapter 13, part of your repayment plan will go toward catching up on your housing payments.

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Debt Free Colorado

APRIL 9, 2020

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. Reach out to your creditors. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy. Car Payments.

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Sawin & Shea

AUGUST 2, 2023

Others may be unable to make their monthly mortgage payments due to an unforeseen job loss, for example. Bankruptcy Relief Filing for bankruptcy can not only assuage the anxiety and guilt associated with insolvency, but it can provide much-needed relief from creditors’ harassing phone calls. When Should I Contact an Attorney?

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Sawin & Shea

JUNE 21, 2023

The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions. Filing for Chapter 13 bankruptcy can help you improve your financial situation.

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Collections Law

APRIL 9, 2021

You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. Cohen LLC will frequently seek to attach your debtor’s bank accounts — either with notice or ex parte — in our efforts to secure payments from your debtor. But it rarely is that easy. Bank and Real Estate Attachments.

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Credit Corp

JULY 26, 2021

Can your family members’ creditors come after you now? If your loved one doesn’t have any beneficiaries listed on their will when they die, their mortgaged property may go into foreclosure. If your family member died with medical debt, you may want to speak with a lawyer to understand what you are responsible for. Car Loan Debt.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. In exchange of this discharge non-exempt assets are liquidated by a Chapter 7 trustee in order to pay creditors back something. Consult with a bankruptcy lawyer about what your debt negotiation options are.

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Collections Law

APRIL 1, 2020

As we have helped and represented numerous foreign judgment creditors over more than three decades, we have a sound understanding of the procedural rules and Massachusetts law pertaining to foreign judgment enforcement. Though it is their legal right, they can manipulate them to delay the debt payment process.

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Collections Law

APRIL 9, 2021

You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. Cohen LLC will frequently seek to attach your debtor’s bank accounts — either with notice or ex parte — in our efforts to secure payments from your debtor. But it rarely is that easy.

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Fraser

SEPTEMBER 28, 2020

A claim, in short, is a right to payment. A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. A creditor must be served with an objection and has an opportunity to respond.

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Collection Industry News

SEPTEMBER 23, 2020

The Pew researchers found that while most businesses filing debt collection claims were represented by attorneys, only about 10% of consumers being sued had lawyers. That means that the court entered an order in favor of the creditor or debt collector because the consumer did not show up or did not file necessary paperwork.

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Sawin & Shea

OCTOBER 20, 2021

It’s important to note, however, that using multiple bankruptcies to evade creditors without the intent to follow through to discharge (serial filing) is highly frowned upon and can result in the court lifting the protections that bankruptcy affords. It is a stopgap measure as ultimately there is not a discharge at the end of a plan.

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Sawin & Shea

OCTOBER 20, 2021

It’s important to note, however, that using multiple bankruptcies to evade creditors without the intent to follow through to discharge (serial filing) is highly frowned upon and can result in the court lifting the protections that bankruptcy affords. It is a stopgap measure as ultimately there is not a discharge at the end of a plan.

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Debt Free Colorado

DECEMBER 7, 2016

Sign the contract for legal services and make your first payment. Make Payments – Within 4 months of retaining. Turn in Paperwork – With your final attorney’s fee payment. Once you’re ready to make your last payment, call our office to set up a time to drop off all your paperwork.

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BN Lawyers

JANUARY 14, 2019

the defendant initiated non-judicial foreclosure proceedings during the consumer’s thirty-day FDCPA validation period. The scheduled sheriff’s foreclosure sale did not take place, and the motion for an injunction was stayed pending verification of the debt. Trott Law, P.C. ,

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