Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. For example, a parent or another family member may become a co-signer for a low-credit borrower so that the primary debtor can obtain a desirable loan.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. If a debt is unsecured, no collateral is put up as a guarantee to pay.

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Debt Free Colorado

DECEMBER 9, 2021

Chapter 7 bankruptcy is appropriate for unsecured debtors. Short foreclosure protection – When your home is faced with foreclosure, the automatic stay is not in effect indefinitely. Co-signing a loan carries a risk – Anyone who co-signs a loan may be obligated to repay the debt on your behalf. medical debt .

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

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. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

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. Regardless of how you ended up in this position, it’s important not to jump immediately to bankruptcy.

Chapter 13 bankruptcy 97

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Creditors 97

FDCPA Defense

FEBRUARY 3, 2019

1992) (emphasis added, citation and quotation marks omitted) (personal loan from friend used to start software business not a “debt” under the Act: “Neither the lender's motives nor the fashion in which the loan is memorialized are dispositive of this inquiry.”). 2012) (intent of debtor at time of purchase controls).

Foreclosure 40

Foreclosure Debt collector Law Firms Debtor 40