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The Automatic Stay and Bankruptcy

Sawin & Shea

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. Pension loans: If you took out a loan against your pension, an automatic stay would not protect you from wage garnishment to repay the loan.

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The Automatic Stay and Bankruptcy

Sawin & Shea

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. Pension loans: If you took out a loan against your pension, an automatic stay would not protect you from wage garnishment to repay the loan.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. 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. The lender protects the borrower against foreclosure. Chapter 7 (Liquidation).

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5 Common Bankruptcy Myths and the Truth Behind Them

Debt Free Colorado

Short sales and loan modifications are viable alternatives to bankruptcy. You can never obtain a loan or a mortgage. The following are some of the most common bankruptcy myths in Littleton, Colorado: Myth #1: Short sales and loan modifications are viable alternatives to bankruptcy. Definitely not.

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Dealing With Debt From COVID-19

Debt Free Colorado

So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. There are more tools for dealing with your mortgage than any other type of loan. Student Loans.

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How to Fill Out Bankruptcy Forms in Colorado

Debt Free Colorado

It is essential to disclose past financial transactions and history, including income, lawsuits, safe deposit boxes, foreclosures, and more. financial assets (including bank accounts and investments), debts owed to you (including tax refunds, loans, and other obligations), assets related to your business, and any other assets you may own.

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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? Filers can typically retain the home and vehicle as long as you make payments on the loan. Federally managed student loans received an automatic six-month payment waiver.