Sentences with phrase «accept a lesser sum»
That is when a mortgage lender agrees to accept a lesser sum when the home is sold.
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Purchasing a life insurance annuity is less popular than simply accepting a lump sum, as there's not a huge advantage to choosing such deferred payments when the lump sum is tax - free.
If you can get access to a lump sum of money, from a family member or some other source, it's worthwhile to call up a creditor yourself and simply ask whether it will accept less than the total amount you owe if you pay a lump sum.
Under a debt settlement arrangement, your creditor agrees to accept a lump sum payment of less than your unpaid debt to resolve fully your debt.
In a debt settlement, the lender agrees to accept less than the full balance of a debt in return for a lump - sum payment from the consumer.
If you have a lump sum that is less than the full balance you owe on your debts, you can ask your creditors to accept the payment and write off the rest of the debts.
If the short sale yields $ 10,000 less than what the debtor owes on the mortgage, and the creditor accepts to forgive that sum; the Andrews - Lewis legislation would allow him to obtain the debt forgiveness tax - free.
The report also shows how much less monthly income one would receive, on average, by taking a lump sum and buying an insurance company annuity vs. accepting the monthly payment option from a company plan.
Once it reaches a certain level, the company will reach out to your creditors in hopes that they'll accept a lump sum that's less than what you actually owe.
As the Markoulakis demonstrates, where employees do push back to receive more money, between the use of a salary continuance structure and the duty to mitigate one's damages, an employee can actually receive less money than he otherwise would have received had he accepted the lump sum amount, even if the court agrees that the notice period should be longer.
In his opening comments (at para 2) he describes Pt 36 as «a means by which a claimant could offer to accept a sum of money less than the amount of his claim».