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How Rising Interest Rates Can Affect Your Interest Rate After Bankruptcy

Sawin & Shea

Sadly, numerous people struggle to obtain reasonable loans when interest rates are this high. Higher interest rates also mean that it’ll take longer to pay off a loan’s principal amount, and those needing a car loan, mortgage, or personal loan may find themselves paying an exorbitant amount of money in interest alone.

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1099-C: What You Need to Know about the Cancellation of Debt Tax Form

Credit Corp

For example, if you borrowed $12,000 for a personal loan and only paid back $6,000, you still received the original $12,000. Not paying back the other half of the loan means you got the benefit of that money without paying for it. Check Your Credit Score.

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When Should You File for Bankruptcy?

Sawin & Shea

Unsecured debt includes things like credit card debt, medical debt, and personal loans. The above descriptions provide a very broad overview of these two types of bankruptcy filings, but debtors should discuss these options at length with a lawyer who has experience in bankruptcy.) When Should I Contact an Attorney?

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Can You Reaffirm a Debt in Chapter 13?

Sawin & Shea

We can help people re-organize secured debt in various ways to help people stop repossessions or foreclosure and get back on track with payments to keep those items. Once you prepare all necessary forms and complete credit counseling, you or your lawyer will file your bankruptcy petition.

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Need to Know About Debt Negotiation and Settlement?

Sawin & Shea

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

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What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

Credit Corp

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Definitely talk to your bankruptcy lawyer about which property you want to keep and whether it’s possible.

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How to Fill Out Bankruptcy Forms in Colorado

Debt Free Colorado

The complicated procedure of filling out bankruptcy documents needs the assistance of Colorado bankruptcy lawyers , like the Law Office of Clark Daniel Dray. It is essential to disclose past financial transactions and history, including income, lawsuits, safe deposit boxes, foreclosures, and more.