Sawin & Shea
NOVEMBER 24, 2021
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.
Sawin & Shea
NOVEMBER 24, 2021
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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Sawin & Shea
JULY 19, 2023
Chapter 7 bankruptcy also stops lawsuits and wage garnishments. Chapter 13 , or reorganization bankruptcy, stops repossessions and foreclosures so you can save your home or investment. Like Chapter 7, it stops lawsuits and garnishments. Chapter 13 can help people keep assets that might be at risk in a Chapter 7.
Sawin & Shea
JANUARY 18, 2023
Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. Additionally, your creditors will not be allowed to contact you.
Burr Forman
DECEMBER 4, 2020
With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020.
Debt Free Colorado
APRIL 9, 2020
They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. You’ll have more flexibility with a nationwide loan servicers like Toyota, Ally, or Santander than you will with a buy-here-pay-here lender, but their sympathy is limited. Your Mortgage.
Sawin & Shea
JUNE 21, 2023
Removal of your automatic stay protection : You’ll no longer have protection from your creditors, potentially leaving you vulnerable to wage garnishment, debt collection lawsuits, repossessions, and foreclosures. That said, filers cannot discharge all of their debts through Chapter 13.
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