Sawin & Shea

APRIL 10, 2024

If you are not, this test determines how much you are required to pay back to your unsecured creditors in a Chapter 13 reorganization. Mortgages and car loans are both considered secured debts because they both have backing collateral. This is a test that determines if you are eligible for a Chapter 7 bankruptcy.

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Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Creditors are prohibited from contacting you after your petition is filed. Chapter 7 (Liquidation).

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Sawin & Shea

JANUARY 12, 2022

That money will go to your Chapter 13 trustee, who will then distribute it amongst your creditors. It can also force unsecured creditors to take what the bankrutpcy law says you can afford to pay, many times cents on the dollar. Taxes that you owe to the federal or state government are sometimes dischargeable, and sometimes not.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Student loans 52