Sentences with phrase «amount as the debtor»

The IRS (Internal Revenue Service) considers any unpaid debt amount as the debtor's income.

Not exact matches

credit applications - credit provider, amount of credit and type of credit (for example interest free loan, home loan, credit card) credit defaults - overdue payments of 60 days or more when you have been sent a letter notifying you of the default credit defaults that have been paid serious credit infringements or «clearout» listings - this is when the credit provider has unsuccessfully tried to contact you in writing and has reported you as a missing debtor.

Debt settlement, which is also known as credit settlement or debt negotiation, is a legal process in which a debtor — often, but not always, with the help of a credit counselor — can reach a legal agreement with a creditor to settle their debt for a lesser amount.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

For purposes of the means test, the U.S. Bankruptcy Code defines current monthly income as including: «any amount paid by any entity other than the debtor (or in a joint case the debtor and the debtor's spouse), on a regular basis for the household expenses of the debtor or the debtor's dependents (and in a joint case the debtor's spouse if not otherwise a dependent)...» Benefits received under the Social Security Act, payments to victims of war crimes or crimes against humanity on account of their status as victims of such crimes, and payments to victims of international terrorism or domestic terrorism on account of their status as victims of such terrorism are excluded from the means test.

The typical pay - for - delete arrangement begins as a letter from the debtor to the collector seeking an agreement where the debtor pays, either in full or a settled - upon amount for less than the total due, in exchange for the collector removing the account from the consumer's credit reports or preventing its appearance if not yet reported.Pay - for - delete, however, has a problem: It violates credit bureau reporting rules that ensure the accuracy and completeness of credit reports.

Debtors do not have to take the debt collection amount as being true; they can dispute the claims made against them.

(ii) As to transactions occurring after May 20, 1996, any creditor charging a finance charge in excess of the amount authorized herein, except as specified in subdivision (2), shall forfeit to the debtor the amount of the actual economic damages not to exceed the finance charge, which may be done by reducing the amount of the debtor's obligatioAs to transactions occurring after May 20, 1996, any creditor charging a finance charge in excess of the amount authorized herein, except as specified in subdivision (2), shall forfeit to the debtor the amount of the actual economic damages not to exceed the finance charge, which may be done by reducing the amount of the debtor's obligatioas specified in subdivision (2), shall forfeit to the debtor the amount of the actual economic damages not to exceed the finance charge, which may be done by reducing the amount of the debtor's obligation.

(p)(1) Except as provided in paragraph (2) of this subsection and sections 544 and 548, as a result of electing under subsection (b)(3)(A) to exempt property under State or local law, a debtor may not exempt any amount of interest that was acquired by the debtor during the 1215 - day period preceding the date of the filing of the petition that exceeds in the aggregate $ 146,450 [as adjusted 4-1-10, every 3 years by section 104.]

Discussion: While it may be true that a debt can be charged off for reasons other than the debtor's ability or willingness to repay, generally, if a creditor has written off a debt as a loss it is an indicator that the applicant has had some difficulty repaying the amounts owed.

With respect to a consumer credit transaction, if any scheduled payment is more than one and one - half times as large as the average of earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is due without penalty.

The primary consumer protection problem areas that have given rise to the States» actions include: (1) unsubstantiated claims of consumer savings; (2) deceptive representations about the length of time necessary to complete a debt relief program; (3) misleading or failing to adequately inform consumers that they will be subject to continued collection efforts, including lawsuits, and that their account balances will increase due to extended nonpayment under the program; (4) deceptive disparagement of consumer credit counseling; (5) deceptive disparagement of bankruptcy as an alternative for debtors; (6) lack of screening and analysis to determine suitability of debt relief programs for individual debtors; (7) the collection of substantial up - front fees so the debt relief company gains even if it fails to perform; (8) lack of transparency and information for consumers as to payment of fees, status of accounts, and communications with creditors; (9) significant delays in active negotiation or engagement with creditors, coupled with prohibitions on direct consumer communications with creditors; and (10), in the case of debt settlement companies, basing savings claims (and settlement fees) not on the original account balance, but on the inflated amount due (including late fees and default rates of interest) at the time of settlement.

A debt consolidation loan can save the debtor a considerable amount of money as long as the interest rate for the loan is lower than the original debt.

Only 44 % of senior debtors have any retirement nest egg, and as for those who have an RRSP, their average RRSP savings amounts to just $ 20,207.

While the terms and conditions may vary, factors such as the principal amount, repayment period, and interest rate are set for every debtor.

Another way that borrowers can reestablish their credit is by using a secured credit card, which works as follows: A debtor supplies the funds up front by placing a specific amount of money in an account.

You'll want to include information like: the name of the original note, and when it was signed; the name of the debtor; what property was offered as security for the note; the amount and interest rate on the original note; the payment schedule and history of the original; the outstanding balance on the note, as of a given date; and any documentation showing proof of the original note.

After canvassing the leading substantive - consolidation standards and cases, Judge Jernigan determined that consolidation is appropriate under any test; her decision turned on a litany of facts and factors, including that (i) the company's «nerve center» is its Texas headquarters and all payroll for employees is effectuated from there, (ii) the company's centralized cash - management system and three bank accounts, (iii) all debtor entities were controlled by common officers and directors, (iv) the existence of substantial intercompany claims, (v) credible testimony demonstrated that preparing individual schedules was extraordinarily difficult and required numerous amendments, (vi) a substantial amount of creditors treated the debtors as a single unit, and (vii) that credible counsel had determined that the primary assets of many debtors — D&O litigation claims — are jointly owned by the debtors.

As regards trade receivables, the obligation to disclose «assets» required disclosure of the name of the debtor and the amount owing.

application for garnishee orders requiring third parties, such as banks, who are indebted to the judgment debtor to pay the judgment creditor the amount of any debt due or accruing due to the judgment creditor in satisfaction of the judgment;

As we all know, in terms of total nominal amount, the government is the largest debtor in history.