Sawin & Shea

JANUARY 4, 2024

Chapter 13 bankruptcy involves entering into a reorganization plan to protect assets, catch up on arrears on houses or cars, and force unsecured creditors to take reduced amounts based on what the bankruptcy law requires that you pay them. Common types of unsecured debt include medical bills and utility bills.

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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. Instead, they’ll merely sell non-exempt property and assets to pay off a portion of debts to unsecured creditors. Indiana’s median income changes from year to year.

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Debt Free Colorado

JANUARY 27, 2022

The filer maintains all non-exempt property as long as unsecured creditors get the value of the non-exempt asset under the Chapter 13 repayment plan. Rather than that, you will pay an amount equal to the value of the non-exempt property to your unsecured creditors (creditors whose debt is not covered by collateral).

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Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable.

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Debt Free Colorado

DECEMBER 9, 2021

Creditors are prohibited from contacting you after your petition is filed. While bankruptcy law forces you to sell some assets to repay unsecured creditors, the majority of Americans keep all of their property because of bankruptcy limits on the categories of assets that may be used to settle debts. medical debt .

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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. Student loans can be particularly challenging.

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