Sentences with phrase «cancelling debts owed to»

Most debts in early Mesopotamia were owed to the palace, so rulers basically were cancelling debts owed to themselves and their collectors when they proclaimed Clean Slates that saved their economies from widespread debt bondage that would have diverted labor to work for creditors at the expense of the palace.

Not exact matches

The settlement permanently bars the companies from doing business requiring a license in the state and cancels any debts still owed to Western Sky Financial and other Webb - owned entities, estimated to be more than $ 275,000, according to the DLLR.

The idea of debt amnesties was to prevent debt from tearing society apart — to prevent the kind of crisis that the United States has been in since 2008, when President Obama didn't cancel the junk - bond debts, or the debts that tore the Greek economy apart — when the IMF and Europe imposed them on Greece instead of letting it default on debts owed to French and German bondholders.

The penalty for sin is death as sinners we all deserve to die but God in his mercy and grace sent his only son to take our punishment on himself.Though his blood we are forgiven and cleansed from all unrighteousness.When Christ spoke the words it is finished the term he used was a legal one that means the cancelling of a debt that was owed Christ paid our debt in full through his blood and death on the cross.brentnz

France has agreed to cancel half the debt it is owed by Cameroon in return for French companies being given almost exclusive access to Cameroon's forests.

According to the IRS, nearly any debt you owe that is canceled, forgiven or discharged becomes taxable income to you.

Debt settlement companies approach your creditors and negotiate a plan in which each creditor agrees to cancel the loan for less than what you owe in exchange for a lump sum payment.

Certain farm debts: If you incurred the debt for the purpose of running a farm, more than half your income from the prior three years was from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income.

Thanks to the Mortgage Forgiveness Debt Relief Act of 2007, I think many — if not most — taxpayers whose lenders cancelled or forgave mortgage debt in 2012 won't owe Debt Relief Act of 2007, I think many — if not most — taxpayers whose lenders cancelled or forgave mortgage debt in 2012 won't owe debt in 2012 won't owe tax.

Cancelled debts: If you settled a credit card bill for less than the total balance you owe, for example, the credit issuer reports the amount that was forgiven to the IRS, and you must include it in your taxable income.

The settlement also requires DeVry to cancel $ 20.25 million in debts owed to DeVry University by eligible students for things such as tuition, books and lab fees.

These borrowers often end up owing less than $ 5,000 in student loans, so cancelling all student loan debt would offer little relief to struggling Americans.

With debt settlement, you are telling your creditors «Sorry, I can't pay the entire amount I owe, but I can pay a fraction of it to you right now if you'll cancel the debt.»

In the event that your insurance policy is cancelled and there are unpaid monies, we may withhold any relevant documents until full payment is made and we reserve the right to refer the matter to a debt recovery agency to collect any unpaid monies owed to us.

«Realtors ® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed.

«Realtors ® are strong supporters of the bipartisan Mortgage Forgiveness Tax Relief Act, sponsored by Sens. Debbie Stabenow, D - Michigan, and Dean Heller, R - Nevada, and Reps. Tom Reed, R - New York, and Charlie Rangel, D - New York, to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender after their home is sold for less money than is owed.

Certain farm debts: If you incurred the debt for the purpose of running a farm, more than half your income from the prior three years was from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income.