Troutman Sanders
APRIL 2, 2021
The bill as proposed would prohibit hospital creditors from requesting wage garnishments against patients for debts if that patient was eligible for free or reduced-cost care. However, under the bill as proposed, a hospital may not request a lien against a patient’s primary residence.
Sawin & Shea
JANUARY 25, 2022
However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. In a Chapter 7 you will be given a choice to either allow secured creditors to seize your collateral or continue to make payments until the debt is paid off.
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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.
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.
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. Chapter 13 bankruptcy Individuals who get a regular wage but are unable to pay off the bills are eligible for Chapter 13 bankruptcy.
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