Sawin & Shea

JANUARY 11, 2024

Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.

Education 52

Education Debtor Bankruptcy Chapter 13 bankruptcy 52

Sawin & Shea

DECEMBER 21, 2023

For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. It is one of the fundamental debtor protections under the Automatic Stay in the Bankruptcy Code. Within 30 days of filing bankruptcy, a debtor must file a Statement of Intent regarding secured property.

Bankruptcy 52

Bankruptcy Debtor Repossession Creditors 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. 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 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Debt Free Colorado

MARCH 3, 2023

This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment. A case may be changed from a Chapter 13 filing to a Chapter 7 liquidation if the debtor doesn’t make payments on time.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

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. Usually during a Chapter 13 you only pay off part of your debts. It’s a powerful protection.

Chapter 13 bankruptcy 97

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Creditors 97

Debt Free Colorado

DECEMBER 9, 2021

Chapter 7 bankruptcy is appropriate for unsecured debtors. If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . The means test decides who can seek debt relief.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75