Sawin & Shea

APRIL 12, 2023

Unsecured debt includes things like credit card debt, medical debt, and personal loans. This is a very broad overview of these two types of bankruptcy filing but you should discuss these options at length with a lawyer who specializes in bankruptcy. What’s Wrong with Repaying Family or Friends Before I File for Bankruptcy?

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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

MARCH 14, 2023

These exemptions still apply because they decrease the amount that you’ll need to pay back to creditors with your repayment plan. Contact an Indianapolis Bankruptcy Lawyer Facing bankruptcy is a daunting prospect, and the process can be incredibly confusing. Why Did Bankruptcy Exemptions Increase in Indiana?

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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. watercraft, aircraft, personal property (including furniture, electronics, clothing, etc.), Two of the most typical collateralized loans are mortgages and auto loans.

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Credit Corp

JULY 26, 2021

Can your family members’ creditors come after you now? Technically, personal debts aren’t forgiven at death. Instead, they pass to the estate of the deceased person. Student Loan Debt. Federal student loans and PLUS loans get discharged if borrowers pass away. Notify Creditors and Credit Bureaus.

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Sawin & Shea

OCTOBER 11, 2023

Assets that do not fall within the statutory exemption values are liquidated and the proceeds used to pay your creditors something. For the best advice and to ensure that your bankruptcy process will proceed as smoothly as possible, your best choice is to hire an experienced lawyer.

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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. 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?

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Credit Corp

JANUARY 5, 2021

For example, if you borrowed $12,000 for a personal loan and only paid back $6,000, you still received the original $12,000. Not paying back the other half of the loan means you got the benefit of that money without paying for it. The creditor that sent you the 1099-C also sent a copy to the IRS.

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Debt Free Colorado

JANUARY 27, 2022

They then exercise control over the merchandise sold to satisfy creditors. They will sell them and use the revenues to pay for the bankruptcy’s fees , charges, and expenditures before paying creditors. ” The Trustee has the authority to seize and liquidate non-exempt property to benefit creditors.

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Sawin & Shea

JANUARY 25, 2023

Sadly, numerous people struggle to obtain reasonable loans when interest rates are this high. Higher interest rates also mean that it’ll take longer to pay off a loan’s principal amount, and those needing a car loan, mortgage, or personal loan may find themselves paying an exorbitant amount of money in interest alone.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. In exchange of this discharge non-exempt assets are liquidated by a Chapter 7 trustee in order to pay creditors back something.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Therefore, the agencies act as middlemen collecting any delinquent loans.

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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. Complete protection from creditors – This includes wage garnishment and debt collection.

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Better Credit Blog

APRIL 5, 2022

considering you are getting your own lawyer to fight on your behalf. When your original creditor can’t collect your past-due balance, it’ll sell your debt to a debt collection agency which means you now owe the money to the agency. Original Creditor Vs. Original Creditor Vs. Collection Agency.

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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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