Sawin & Shea

NOVEMBER 15, 2023

They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home). That means that you must continue to pay on most secured debts to keep or hold onto the collateral. The debtor must maintain regular payments on the secured loan in order to keep the collateral.

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. i] In re Denby-Peterson , 941 F.3d 3d 115, 126 (3d Cir. ii] In re Fulton , 926 F.3d 3d 916, 924 (7th Cir.

Bankruptcy 65

Bankruptcy Debtor Creditors Repossession 65

Debt Free Colorado

MARCH 3, 2023

The main disadvantage of Chapter 7 bankruptcy is that anything subject to a security interest is not exempt (home, automobile) and can be seized to satisfy the debt connected to the specific item. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off? What Can’t Bankruptcy Do?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52