Foreclosure Garnishment Loans Secured debt 
Sawin & Shea
NOVEMBER 15, 2023
If a debt is unsecured, no collateral is put up as a guarantee to pay. Unsecured Debt What is unsecured debt? However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt.
Sawin & Shea
JANUARY 11, 2024
Staring down mountains of debt can feel overwhelming. Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Bankruptcy filings for both individuals and businesses are on the rise. There are some key differences between these two types of bankruptcy.
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Debt Free Colorado
MARCH 3, 2023
Chapter 13’s main advantage is that it stops creditors from bothering you and allows you to keep property subject to a security interest, provided you continue to make payments in the repayment plan. When the lead debtor on a co-signed loan is discharged in bankruptcy, the co-signers may still be required to pay back all or part of the loan.
Credit Corp
MAY 3, 2023
Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. The Trustee’s office then pays various creditors.
Debt Free Colorado
DECEMBER 9, 2021
Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. It’s a relatively straightforward technique to eliminate the majority of your debt. . Chapter 7 is a disaster when it comes to secured debt. .
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