Sawin & Shea

AUGUST 9, 2023

You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. Creditors cannot reclaim any of your property if you default on a loan. What is my total credit card debt?

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Collection Industry News

MAY 3, 2022

It would also ban Performance Settlement from certain loan-settlement and lead-generation activities. Performance Settlement is a general debt resolution company that negotiates settlements of consumers’ unsecured debts for a fee of 25% of the amount of the enrolled debt. Source: site.

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Sawin & Shea

MARCH 7, 2023

Will All of My Debt Get Discharged? When you file a Chapter 7 bankruptcy, it is only your unsecured debts that will be eligible for discharge. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.

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Sawin & Shea

AUGUST 23, 2023

With Chapter 7 bankruptcy, you’ll be able to eliminate most unsecured debts, which includes: Credit card debt Medical debt Personal loans Payday loans Utility bills It’s important to keep in mind, though, that Chapter 7 will not eliminate all kinds of debt. Where Do I Go From Here?

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Sawin & Shea

AUGUST 30, 2023

Chapter 13 Bankruptcy is a Federal Bankruptcy Court-sanctioned debt reorganization plan. You are not allowed to have more than $465,275 of unsecured debt (such as credit card or medical debt) or more than $1,395,875 of secured debt (such as a house, property, or vehicle). Most federal student loans.

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Sawin & Shea

JULY 28, 2021

If you file for Chapter 13 Bankruptcy in Indiana, you will still be obliged to pay something toward your debts; it’s just that you will be given a payment plan that reduces your unsecured debts based upon your ability to pay, that puts you on a manageable schedule, and that holds your creditors at bay while you work on making achievable payments.

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Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. What types of debts can I lump together in a DMP? Secured debts, like your mortgage or car payments, aren’t covered.

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Credit Corp

JUNE 1, 2021

Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. Pay down debt. For most people, the way to do this is to get rid of unsecured debt that they carry month to month. Pay Student Loan Debt. Care for Your Credit Profile.

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Better Credit Blog

MAY 4, 2022

You can even lower the total amount you have to repay if your debt consolidation method offers a lower interest rate. There are several ways to consolidate debts. In this guide, we’ll walk you through your options and show you how debt consolidation could simplify your repayments and save you money. Monthly Payment.

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Better Credit Blog

APRIL 11, 2022

Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. What Are the Strategies to Get Out of Debt?

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Credit Corp

MARCH 16, 2021

You have a habit of exhausting your credit limit quickly Whenever you are short of cash, you tend to take out a high-interest loan. You got married or had a sudden medical emergency for which your debt went out of your control. How to Control Your Debt Yourself. What kind of debts do you have? Debt Consolidation Loan.

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Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets.

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