Garnishment Lender Secured debt 
Sawin & Shea
OCTOBER 26, 2022
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Personal loans from lenders that you know, such as acquaintances, co-workers, employers, friends, and family. In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts.
Sawin & Shea
JANUARY 25, 2022
However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral. What is Unsecured Debt?
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Debt Free Colorado
DECEMBER 9, 2021
If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.
Sawin & Shea
NOVEMBER 15, 2023
Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven. The two most common examples of secured debt are mortgages and auto loans.
Sawin & Shea
MAY 2, 2024
Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. Secured Debt vs. Unsecured Debt Not all debts are treated equally in bankruptcy court.
Sawin & Shea
MARCH 7, 2023
Chapter 7 bankruptcy, also known as liquidation or straight bankruptcy, can help those having financial difficulties clear away various types of debts. When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property.
Debt Free Colorado
DECEMBER 23, 2024
What is Unsecured Debt? Unsecured debt is money you owe not tied to any specific asset. This means the lender can take no property, like a house or car if you do not pay. Instead, lenders rely on your promise to pay back the money. Unsecured debt can be stressful. Filing for bankruptcy can be a big decision.
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