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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

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 suits your financial situation.

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Can I File Bankruptcy on Just My Credit Cards?

Sawin & Shea

When you file for bankruptcy whether Chapter 7 or 13, you are required to list all debt, both secured and unsecured. You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Creditors cannot reclaim any of your property if you default on a loan. What other debts do I owe?

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What is Debt Consolidation and How Does it Work?

Better Credit Blog

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. Debt Consolidation Guide.

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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Additionally, not all unsecured debt is dischargeable under Chapter 7. The means test decides who can seek debt relief. medical debt

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Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

It works by getting one new loan and using that to pay off multiple existing creditors. You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. The difference is that unsecured debts are not backed by collateral.

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How to Repay Debt: 4 Options

Debt Guru

So, you’ve got a bunch of unsecured debt. You’re more than ready to start living debt-free. There are many different approaches for tackling debt repayment. The option you choose is strictly a personal decision – you need to find the tactic that you understand best and that you can sustain. Great decision!