Sentences with phrase «claims of the debtor»

The debtor's plan is a document outlining to the bankruptcy court how the debtor proposes to dispose of the claims of the debtor's creditors.

Real creditors (i.e. a bank or finance company) have legal contracts with the borrower granting the lender the right to claim any of the debtor's real assets (e.g. real estate or car) if he or she fails to pay back the loan.

Not exact matches

The documents resemble statements of claim in every respect (aside from the word «draft» stamped across the top) and lead debtors to believe they are facing legal action when in fact no litigation has been filed.

You acknowledge that Section 1542 provides that: «A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.»

Finally, you can't be a debtor in a Chapter 11 bankruptcy, and you can't have received advance payments of the premium tax credit for yourself, your spouse, or anyone you signed up for health insurance coverage who isn't being claimed as a personal exemption on someone else's tax return.

According to Webster's dictionary, a lien is a legal claim that someone or something has on the property of another person until the debtor pays back what he or she owes.

Contrarily, since the majority of borrowers in repayment have never claimed the student loan interest deduction to begin with, maybe borrowers as a whole group would be better off letting the government handle all of the saved money under one program to lower the cost of education for a wider net of student debtors.

The exemption systems permit debtors to retain the means of day - to - day living, free from the claims of their creditors.

This recent action and the fact the Department of Education has not approved Borrower Defense claims leads me to wonder where is any proof the Department of Education gives a damn about student loan debtors.

There are students that have been waiting years for a conclusion to their claims and the next changes will only serve to slow down the entire process of assisting harmed student loan debtors.

the IRS took approximately one year and 9 months to discover its error and failed to respond to the debtors claim for an award of attorney's fees.

The trustee objected to the debtors» claimed exemption of the annuity contracts, citing a state law provision that limits this sort of exemption to $ 250.

Exemption laws have been enacted by every state as well as the federal government to protect the property of debtors against the claims of judgment creditors and, once a bankruptcy case is filed, the trustee.

That is called an adversary proceeding, and often is based on a claim of fraudulent behavior by the debtor, such as lying on a credit card application.

Filing Chapter 7 or Chapter 13 Bankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal support.

One of the unsecured priority debts owing by the Debtor and listed on Schedule E - Creditors Holding Unsecured Priority Claims, is a student loan owing to Sallie Mae.

If the «creditor» claims to have solid evidence of the debt but the «debtor» disputes that, the reporting agency will not attempt to determine who is right, but will give both sides a chance to state their case for anyone reading the report.

Whereas the filing debtor in this illustration can claim the $ 27,871 for their homestead, they will be allowed under the federal exemption guidelines to use only $ 10,825 of the unused money for the second property.

These claims are normally paid first where there has been no special arrangement made by the court and debtor to pay outside of a bankruptcy plan.

In order to seize property owned by a debtor to satisfy a debt, you must first file a lawsuit proving the debt claim in order to obtain a judgment of the court for satisfaction of the debt.

(A) entity that has a claim against the debtor (the person who filed bankruptcy) that arose at the time of or before the order for relief concerning the debtor;

A claim in bankruptcy is a formal written assertion by a creditor of their right to a payment from the debtor during the process.

In the wake of more debtors struggling with their dues, creditors seem to have stepped up their money - realization techniques by making embarrassing calls at work, divulging your debt details to your neighbors, resorting to abuses, and lying about their status (debt collectors often claim that they are employed by credit bureau).

--(1) If the debtor under a debtor - creditor - supplier agreement falling within section 12 (b) or (c) has, in relation to a transaction financed by the agreement, any claim against the supplier in respect of a misrepresentation or breach of contract, he shall have a like claim against the creditor, who, with the supplier, shall accordingly be jointly and severally liable to the debtor.

75A -(1) If the debtor under a linked credit agreement has a claim against the supplier in respect of a breach of contract the debtor may pursue that claim against the creditor where any of the conditions in subsection (2) are met.

for the payment in priority to other claims of all claims directed to be so paid in the distribution of the property of the consumer debtor;

Even though the organization claims to help students who owe, if a debtor did not ask the right question, they would not be offered a certain type of aid.

Small claims courts in Broward and Palm Beach counties are reporting a spike in the number of cases against debtors, who typically owe between $ 2,000 to $ 4,000.

One debtor evolving from a bankruptcy and filing a quit claim to avoid the tax consequences of owning a home not yet foreclosed, shared that his mortgage bank is suing him for removal of the claim.

(A) real or personal property that the debtor or a dependent of the debtor uses as a residence; (B) a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence; (C) a burial plot for the debtor or a dependent of the debtor; or (D) real or personal property that the debtor or dependent of the debtor claims as a homestead.

On request of a creditor with a claim secured by the single asset real estate and after notice and a hearing, the court will grant relief from the automatic stay to the creditor unless the debtor files a feasible plan of reorganization or begins making interest payments to the creditor within 90 days from the date of the filing of the case, or within 30 days of the court's determination that the case is a single asset real estate case.

Though the law has expanded the age of debts that can be recovered, it hasn't addressed the sometimes - Kafkaesque process debtors can face when challenging the validity of a claim.

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.

The law typically restricts garnishing orders to a maximum of 30 % of wages (though child or spousal support claims can attach up to 50 % depending on the debtor's income and the number of dependents).

A California bankruptcy court recently considered a debtor's claim of undue hardship in an order that includes an in - depth review of the Brunner test.

If you are a California resident, you waive California Civil Code § 1542, which provides: «A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.»

«Second, even if they are considered an asset of a debtor that could be administered by a bankruptcy trustee to pay creditor claims, they very rarely, if ever, are.

If you are a California resident, you waive California Civil Code Section 1542, which says: «A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which, if known by him must have materially affected his settlement with the debtor.»

Sound procedures are in place for c ontracting out of services and purchase of goods, project based staff time monitoring, expense claims and recording of general and project related costs, financial closing of projects and programmes, treasury and debtor / creditor management, annual audits.

Thus, the creditors of publicly - owned establishments are necessarily in a more favourable situation than creditors of persons coming within the scope of [general French bankruptcy law] which, in the event of insufficient assets on the part of the debtor person or entity, may see their claim cancelled.

Deals with clients in business litigation such as that between Pillsbury and the SonicBlue board may be perfectly reasonable in most situations, but in bankruptcy, where the interests of creditors are paramount in a debtor - in - possession situation, such a deal undermines the entire process because Pillsbury could not be expected to fully pursue claims against the board if Pillsbury was potentially on the hook for any damages by agreement.

Successfully defended dozens of debtor collectors from throughout the country in claims involving alleged violations of the FDCPA.

As described by Lawyers Weekly, the court's decision provides that «a franchisor's rights to enforce noncompetition and nonsolicitation agreements are not claims that a debtor can discharge,» as long as the franchisor «does not alternatively have a right to payment of monetary damages.»

Successfully defended dozens of debtor collectors throughout the country in claims involving alleged violations of the FDCPA.

If the debtor does not pay the amount of a Small Claims Court judgment and does not work out a payment plan, a creditor must wait 30 days from the date of the judgment before using other legal means to collect.

(Defence of undue influence with third party claim in negligence against a firm of solicitors; successful London Mediation at which wife of debtor received enough in damages to secure re-housing).

Experience of dealing with statutory demands and insolvency related hearings from both the creditor and debtor side; including successfully defending the directors of a large group of companies in administration in respect of claims made under personal guarantees.

If the debtor does not reply to the letter of claim within 30 days of the date on the top of it then court proceedings can begin provided that the debtor has been given 14 days» notice of the intention to commence proceedings.

According to the article, debtor's counsel representing the company in bankruptcy typically claims the largest share of the legal work and billings from a bankruptcy.

up private litigation where it promotes the use of legal machinery to oppress: as, for example, to so discord in a family; [Footnote 20] to expose infirmities in land titles, as by hunting up claims of adverse possession; [Footnote 21] to harass large companies through a multiplicity of small claims; [Footnote 22] or to oppress debtors as by seeking out unsatisfied judgments.