Sawin & Shea
MARCH 7, 2023
If you’re struggling with debt and considering bankruptcy, speaking with a bankruptcy lawyer can help you determine your best options and give you some clarity on how the process works. At Sawin & Shea, LLC, our Chapter 7 Bankruptcy lawyers have helped clients just like you in the Indianapolis and surrounding areas.
Sawin & Shea
DECEMBER 28, 2023
By stretching out, modifying, or reducing payments, Chapter 13 helps make debt more manageable for financially distressed individuals while allowing them the opportunity to save assets like their homes from foreclosure and cars from repossession. Your bankruptcy lawyer can negotiate lower balances or interest rates as well.
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Sawin & Shea
OCTOBER 26, 2022
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Common unsecured loans include: Bank loans with no collateral. In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Repossession deficiency claims.
Sawin & Shea
FEBRUARY 28, 2024
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Discharging Personal Loans Through Chapter 7 Whether you should discharge a personal loan in Chapter 7 will depend on whether the loan is secured or unsecured. Nonpayment of title loans can lead to vehicle repossession.
Sawin & Shea
MARCH 13, 2024
The agreement makes you responsible for the debt again like the bankruptcy never happened for that debt. All of the original terms of the loan are back in force, including the creditor’s right to repossess the collateral if you get behind on payments in the future.
Sawin & Shea
SEPTEMBER 14, 2022
For example, if you co-own a house with someone filing Chapter 13 bankruptcy and the house is your primary residence, the automatic stay will protect you from a home foreclosure because it’s considered consumer debt. How Does Consumer and Non-Consumer Debt Impact Your Chapter 7 Bankruptcy Filing? The post Consumer Debt vs.
Sawin & Shea
OCTOBER 11, 2023
In broad terms, bankruptcy law differentiates between consumer-related debt as well as secured vs. unsecured debt. If a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay.
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