Creditors Personal loans Repossession Secured debt 
Sawin & Shea
OCTOBER 26, 2022
When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation.
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? 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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Sawin & Shea
NOVEMBER 15, 2023
Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. Unsecured Debt What is unsecured debt?
Sawin & Shea
JANUARY 25, 2022
What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral. If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. Examples of Secured Debts.
Sawin & Shea
MARCH 7, 2023
When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. When you file a Chapter 7 bankruptcy, it is only your unsecured debts that will be eligible for discharge. What Are Your Bankruptcy Lawyer Fees?
Sawin & Shea
AUGUST 30, 2023
This will immediately stop your creditors from being able to contact you to demand payment. You and your bankruptcy attorney will next attend either a creditor meeting or a 341 hearing with your court-appointed bankruptcy trustee. Under Chapter 13 Bankruptcy, you have time and a plan in which to repay your debts. Personal loans.
Sawin & Shea
APRIL 10, 2024
Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. Indiana’s median income changes from year to year.
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