Sawin & Shea

AUGUST 2, 2023

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 you file for bankruptcy, the law immediately puts into place protections, including one that forbids creditors from contacting you in any way.

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Sawin & Shea

JULY 22, 2020

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. In a Chapter 13 you do not have to repay most debts in full. It stops creditors from calling and otherwise contacting you.

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Sawin & Shea

DECEMBER 28, 2023

Under Chapter 13, the filer works with their attorney to come up with a court-approved repayment plan showing how they will pay something back to creditors over time. Ultimately, balances on most types of unsecured debts are discharged at the end of a plan. Pros of Filing Chapter 13 Bankruptcy 1.

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Titan Consulting

SEPTEMBER 2, 2020

Credit Counseling agencies recommend debt management plans or DMPs. You make one monthly payment to the program, and the agency pays your creditors based on an approved schedule. However, the long-term interest charged at the end of the promotional period could be as high as the existing debt, limiting its usefulness.

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Sawin & Shea

JANUARY 11, 2024

Staring down mountains of debt can feel overwhelming. Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Bankruptcy filings for both individuals and businesses are on the rise. There are some key differences between these two types of bankruptcy.

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Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act?

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Titan Consulting

AUGUST 23, 2020

In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. Chapter 7 liquidates assets and discharges qualified debts. The process takes less than a year and can eliminate the balance on most unsecured debts. Take advantage of payment waivers.

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Debt Guru

JULY 19, 2020

You can consolidate all different types of debt – and the result is a simplified repayment process that involves a single payment each month. It works by getting one new loan and using that to pay off multiple existing creditors. Debt consolidation can be a great tool to get out of debt faster – but only when it’s used correctly.

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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. 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.

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Debt Free Colorado

MARCH 3, 2023

Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? Are My Creditors capable of appealing My Bankruptcy? What Debts are Discharged in Bankruptcy? What Can’t Bankruptcy Do? What Should I Consider Before Filing for Bankruptcy? Lastly, Do I require Legal Counsel to File for Bankruptcy?

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed. Unlike Chapter 7, filing Chapter 13 offers protections for co-signers.

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Roths Child Law

JUNE 17, 2021

You may be able to negotiate a reduced settlement with your creditor to alleviate yourself of that pesky bill. It's unlikely that their various creditors will all agree to renegotiate. It's one thing to be burdened by a single bill. Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances.

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Sawin & Shea

SEPTEMBER 20, 2023

Filing for Chapter 7 bankruptcy , also called liquidation bankruptcy, allows you to discharge all or most of your debt. Upon filing a Chapter 7, you receive automatic court-oredered protection from creditors and aren’t subject to lawsuits, repossessions, or wage garnishments.

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Credit Corp

MAY 3, 2023

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. The Trustee’s office then pays various creditors. What Is Chapter 7 Bankruptcy? A few months 3 to 5 years 1.5

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Sawin & Shea

OCTOBER 20, 2021

However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. This shorter period is likely because most individuals who file Chapter 13 will still have to pay some debts back through a payment plan rather than having it entirely discharged.

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Sawin & Shea

OCTOBER 20, 2021

However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. This shorter period is likely because most individuals who file Chapter 13 will still have to pay some debts back through a payment plan rather than having it entirely discharged.

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Troutman Sanders

MAY 2, 2023

On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act. For more information, click here. For more information, click here.

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