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Sawin & Shea
NOVEMBER 15, 2023
Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. Chapter 13 involves commitment from the declarer to repay a portion of their debt over a specified period (usually three to five years).
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.
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Sawin & Shea
SEPTEMBER 6, 2023
In most cases, Chapter 7 bankruptcy allows the debtor to postpone a foreclosure sale, but does not stop the process permanently. In other words, a Chapter 13 Plan can reorganize debts in ways that can help struggling homeowners get back on track with their mortgage payments, curing arrearages and making ongoing monthly payments.
Qualco
APRIL 15, 2024
Digital finance expansion has simplified access to financial resources, streamlining the application and approval processes, thus making these unsecured loans highly attractive. This wealth of experience has been applied to develop this powerful solution, ensuring it meets lenders’ complex demands.
Sawin & Shea
NOVEMBER 1, 2023
Your medical bills are considered “unsecured debts” which means there is no property that can be taken from you under contract as a result of not paying your medical bills — and most unsecured debts, like medical bills, are eligible for bankruptcy. Your combined total secured and unsecured debts are less than $2,750,000.
Sawin & Shea
AUGUST 23, 2023
Chapter 7 is also known as the “liquidation bankruptcy” because it allows individuals to liquidate all non-exempt assets to help pay off their debt. Most Debtors, however keep everything they have. Unlike Chapter 7 bankruptcy, Chapter 13 allows debtors to create a repayment plan over three to five years. Where Do I Go From Here?
Sawin & Shea
AUGUST 2, 2023
Chapter 7 Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and includes rules to protect assets that are classified as exempt at the time you file. Unsecured debt includes things like credit card debt, medical debt, and personal loans.
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