Sawin & Shea
JULY 14, 2021
Student loan debt can be crippling. Trying to put money towards a house or a car, as well as paying all of your other bills on top of student loan debt, is often exhausting and can sometimes feel impossible. In America alone, the average student loan debt in 2021 comes to around $1.7
Debt Free Colorado
APRIL 9, 2020
Reach out to your creditors. Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy.
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Hudson Weir
FEBRUARY 28, 2023
Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. This amount is then used to give unsecured lenders more chances to recoup a little of their outstanding capital.
Sawin & Shea
APRIL 10, 2024
Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. What Is Chapter 7 Bankruptcy?
Sawin & Shea
APRIL 17, 2024
The court will then order a bankruptcy stay — also called an automatic stay — that prohibits creditors and lenders from collecting what you owe. You will not be able to discharge: Family and child support Most student loans Most local, state, and federal taxes How Does Filing Bankruptcy Impact Your Standing with Credit Bureaus?
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