Sawin & Shea

MARCH 7, 2023

This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.

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Sawin & Shea

AUGUST 30, 2023

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). Under Chapter 13 Bankruptcy, you have time and a plan in which to repay your debts. Which Debts Cannot be Discharged in Bankruptcy?

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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.

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Collection Industry News

MAY 24, 2021

She’s actually more concerned about the weight of student loans. Student loan debt is debt that you can never get rid of in most cases. So that debt is really, really important,” Orman told CNBC. Another secured debt you can consider tackling is your mortgage.

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Titan Consulting

AUGUST 23, 2020

Filers can typically retain the home and vehicle as long as you make payments on the loan. In many cases, you will lose secured assets such as your home and vehicles. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt.

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Sawin & Shea

OCTOBER 27, 2021

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts?

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Debt Free Colorado

JANUARY 10, 2022

Bankruptcy wipes out all debts and gives you a fresh start. Only student loans, taxes, and past-due child support are non-dischargeable. . After filing for bankruptcy, most people may apply for credit cards and auto loans. Most credit card require a security deposit to start an account.

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Debt Guru

JANUARY 27, 2021

What types of debts can I lump together in a DMP? Unsecured debts, such as credit cards, store cards and personal loans, can be part of your DMP. Secured debts, like your mortgage or car payments, aren’t covered. Student loans aren’t covered, either. Does it cost to participate in a DMP?

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Sawin & Shea

APRIL 10, 2024

Reaffirming Debts in Chapter 7 Bankruptcy Chapter 7 bankruptcy allows you to discharge your unsecured accounts, but you cannot do away with a creditor’s a security interest, meaning a debt with collateral must either get paid or the collateral property surrendered.

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Debt Free Colorado

MARCH 3, 2023

For instance, it may permit the restructuring of debts due to “secured” creditors, or creditors who have an interest in assets like a mortgage or a car loan, but it typically won’t abolish those debts. However, how can you tell if your debt issue calls for such a drastic measure?

Bankruptcy 52

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Sawin & Shea

OCTOBER 27, 2021

Out of the reported debt statistics, 35% of all debts in collections were medical, which surpassed other forms of debt. 25% of debts in collections were credit card related, and 20% were student loan debts. What Should I Do If I Have Medical Debts?

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Hudson Weir

SEPTEMBER 4, 2023

A debt relief order typically lasts for 12 months.

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Collection Industry News

DECEMBER 21, 2020

Three Types of Chapter 10 Plans: “Residence” and “Property” Plans for Repayment of Secured Debts and General Repayment Plans for Unsecured Debts. Residence and property plans under the CBRA allow consumers to change loan interest rates, adjust amortization schedules, and cure defaults.

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