Sentences with phrase «because other creditors»

In this case, you could lose all or part of your capital because other creditors of the scheme will be repaid before you.

These loans are useful because they charge low interests, because other creditors can be included too and thus all debt is unified but there is also another reason that is especially important when it comes to tax debt elimination.

Not exact matches

In sum, the public corporation succeeded in large part because it provides a hierarchical decision - making structure well suited to the problem of operating a large business enterprise with numerous employees, managers, shareholders, creditors, and other inputs.

Because debt settlement programs often ask or encourage you to stop sending payments directly to your creditors, they may have a negative impact on your credit report and other serious consequences.

For example, creditors from law enforcement agencies should be on top of your priorities because they may disrupt your tax return, collect your income, and many others.

On the other hand, because you now have a clean slate upon which to write your financial future, other creditors see you not as a liability to be avoided, but as a borrower who has no outstanding debt.

If you're planning to apply for a mortgage or other loan, always ask your creditor what credit score will obtain the best terms (because creditors» definitions will vary!)

They are usually included because the debt is unsecured and because the creditor has less negotiating power than banks and other big companies.

This is because, if there are any defaulted payments or other problems that need to be reported, oftentimes the creditor will only report to one of the big bureaus.

Because all lenders and creditors do not report information to all 3 of these credit bureaus, though, your score can actually differ from one to the other.

If you're current on any other debt payments, your pleas for a reduced payment or even settlement may go unheard because the creditor thinks you're able to make your payments.

First, paying off some creditors (but not others) is not allowed under the bankruptcy code because you are favoring one creditor over another.

These are ways in which you can prove to creditors and other financial institutions that you are a good candidate for future credit because you are building a strong financial foundation.

This is primarily because the creditors understand that you typically can not file a bankruptcy again for another 8 years, and you have no other bills to pay, meaning you are a great credit risk and now have the ability to pay your new credit card bills.

That would probably be something that we would look at carefully and likely I'd contact Uncle Bob and say well, you need to pay that money back because you were treated better than all the other creditors.

This is because every credit bureau has its own formula to determine credit scores, and banks, credit card issuers, and other creditors are not required to report credit information to all 3 bureaus.

Creditors benefit because no one creditor is allowed to rush in and grab up all of the debtor's assets, leaving nothing for the other cCreditors benefit because no one creditor is allowed to rush in and grab up all of the debtor's assets, leaving nothing for the other creditorscreditors.

Many types of income, including retirement and government benefits, are effectively exempt from creditors because of statutory provisions that prohibit alienating or assigning benefit payments to anyone other than the beneficiary.

And because we are working directly with your creditors, it's easier for us to engage in debt negotiation, seeking possible reductions in finance charges, interest rates, late fees and other charges in order to reduce the amount of money you owe and help you to pay off your debts faster.

Borrowers who are rejected because of adverse reports from other creditors have the right to review a copy of their credit report.

On the other hand, you could get approved for a loan or mortgage more easily if you have a lower debt - to - income ratio because your creditors may feel that you will be more likely to pay back the loan since your money isn't already tied up in other debts.

The help you can get through debt consolidation services for your credit card debt as well as other unsecured debt are invaluable because these debt consolidation agencies have special training as well as good contact with wide range of creditors.

Because lenders and creditors place a high weight on your credit score, this information can essentially either help you or hurt you when you're applying for a mortgage or other loan, as well as in other types of transactions like obtaining a credit card.

This is because if you consider some other options to deal with your debt in the future, how you have previously treated creditors can be taken into account when deciding whether further restrictions should be applied to you.

^ Creditors may consider your age if you are: to young to sign contracts (generally under 18), you're over the age of 62 and the creditor will favor you because of your age, age is used to determine other factors important to creditworthiness (e.g if your income is about to drop due to retirement), it's used in a valid credit scoring system that favors applicants 62 and older.

So, in a nutshell, the other creditors will not reinstate the old credit limits because they use the current credit reports, BofA will not help because they use the current credit reports, and my monthly minimum payments have more than doubled because of the Universal Default rate.»

[xvii] Therefore, the Fecek court required the debtor to pay $ 500 a month for 15 years to her private student loan creditor because the court believed that the debtor could make such payments if she made minor cutbacks in her expenses following the discharge of other debts.

If you voluntarily pay the money to a credit card company or some other banking institution you owe a debt, the bankruptcy court could get the money back because the debt payment would be viewed as a preferential treatment in relationship to all your other creditors.

With other options such as debt settlement, it will feel much better in the end when you do become debt free because you will have paid your creditors back, but at a reduced amount based on your income and situation.

This powerful tool has steadily gained in popularity in recent years and because Consumer Proposals provide automatic protection from your creditors and a freeze on any additional interest, they have many benefits compared to other debt consolidation options.

There's no incentive for them to cancel your miles on account of bankruptcy, and no other creditor would seek to have you sell them to repay a debt because the terms and conditions say that the points «have no cash value and are void if sold, purchased, brokered or bartered.»

Because that's what the credit card companies (and any other potential creditors) are going to do when you apply.

However, because there is still some ambiguity in the law on this point, the estate trustee should reach out to the estate's unsecured creditors to let them know (a) that the estate does not have enough money to pay all debts in full and (b) that the estate trustee is planning to pay the estate taxes before paying the other debts.

Claimants» delay in not moving for fees pre-dismissal was reasonable because the counsel involved did not want to delay other unsecured creditors» wish that the case be dismissed so they could post haste sue debtor in state court for collection of debts owed.

Because Brinkley Morgan is a full - service law firm, our South Florida real estate attorneys have the advantage of drawing upon the in - house support and knowledge of the Firm's other related practice groups, such as Corporate Law and Business Development; Local Government Law and Relations; Administrative Law and Practice; Business Litigation and Appellate Practice; Taxation; Bankruptcy and Creditors» Rights; Wills, Trusts and Estate Planning; Marital and Family Law; and more.

In reaching these conclusions the judge noted that, among other things, he had taken into account the administrators» professional standing and reputation, the fact that a court should not remove an administrator simply because conduct has fallen short of the ideal (but in this case it had «gone further than that») and that this was not a case where removal would encourage activist creditor applications or cause insolvency office holders to «have to look over their shoulders».

The court below found that, because the arbitrator had directed the equalization payment to be paid from the husband's share of the proceeds of sale, the award created an equitable trust in favour of the wife over the husband's share of the net proceeds of sale, in priority to other creditors.

This was because of the other interests involved, including employees, secured creditors and other unsecured creditors such as suppliers and self - employed contractors.

It represents a clear exception to the pari passu principle because it allows the solvent party (the bank) to collect payment ahead of any other creditors to the extent of the set - off.

There is no delay, as might be the case with other types of assets, because of the intervention of state or other governmental bodies due to settlement of tax issues, or because of claims by the decedent's creditors.

Life insurance is a better tool for providing benefits to family members after a death than many types of savings and investments because, unlike those other assets, the benefits are tax - free and creditor - protected and cost only pennies on the dollar.

i. Because certain closing costs, individually, are subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(i)(e.g., fees paid to the creditor, transfer taxes, fees paid to an affiliate of the creditor), while other closing costs are collectively subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(ii)(e.g., recording fees, fees paid to an unaffiliated third party identified by the creditor if the creditor permitted the consumer to shop for the service provider), § 1026.38 (e)(2)(iii)(A) requires the creditor or closing agent to calculate subtotals for each type of excess amount, and then add such subtotals together to yield the dollar amount to be disclosed in the table.

Lastly, a title insurance company commenter stated that additional lines should be provided for the itemization under the respective subparagraphs of proposed § 1026.37 (f) because creditors, secondary market participants, and others will want to see more itemization than the proposed Loan Estimate permits.

The commenters asserted this, in turn, may mean less credit availability for consumers because increased affiliation would raise the risk of creditors exceeding the points and fees thresholds for qualified mortgages under the Bureau's 2013 ATR Final Rule, [203] and for qualified residential mortgages under a credit risk retention proposal issued by other Federal regulators.

A large bank commenter expressed support for using the specific definition of business day for purposes of determining the amount of time a creditor has to deliver the Loan Estimate after receipt of a consumer's application because applying different definitions of business day is confusing to creditors, consumers, and other participants in the settlement process.

Accordingly, because a non-applicant co-owner has the right of rescission under § 1026.23, the creditor would be required to deliver the Closing Disclosure to each such non-applicant co-owner and do so separately from any other consumer to whom the Closing Disclosure is required to be delivered.

Proposed comment 38 (i)(1)(iii)(A)-1 would have contained examples of how to calculate such excess amounts and would have clarified that because certain closing costs, individually, are subject to the limitations on increases in closing costs under proposed § 1026.19 (e)(3)(i)(e.g., origination fees, transfer taxes, charges paid by the consumer to an affiliate of the creditor), while other closing costs are collectively subject to the limitations on increases in closing costs under proposed § 1026.19 (e)(3)(ii)(e.g., recordation fees, fees paid to an unaffiliated third party if the creditor permitted the consumer to shop for the service provider), the creditor or closing agent calculates subtotals for each type of excess amount, and then adds such subtotals together to yield the dollar amount to be disclosed in the table.

i. Because certain closing costs, individually, are subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(i)(e.g., fees paid to the creditor, transfer taxes, fees paid to an affiliate of the creditor), while other closing costs are collectively subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(ii)(e.g., recording fees, fees paid to an unaffiliated third party identified by the creditor if the creditor permitted the consumer to shop for the service provider), § 1026.38 (i)(1)(iii)(A) requires the creditor or closing agent to calculate subtotals for each type of excess amount, and then add such subtotals together to yield the dollar amount to be disclosed in the table.

On the other hand, federally related mortgage loans made by persons who are not creditors under TILA, because they make five or fewer such loans per year, are subject to RESPA but not TILA.

These commenters also questioned the definition of «loan costs» in comment 37 (l)(1)(i)-1 which defines loan costs as costs disclosed under § 1026.37 (f), arguing that the amount disclosed would be overstated because the definition does not account for credits provided by the creditor, mortgage broker, seller, or other party.