Sentences with phrase «court by your creditors»

You can be taken to court by your creditors.

Keep in mind that a consumer proposal or bankruptcy won't stop a Family Responsibility Office garnishment — but both will halt wage garnishments issued through the courts by creditors and by the CRA.

Not exact matches

Remember though, if you default on a secured loan then the assets or asset class you used as a security could be seized by the creditor in a Court procedure that could also put your company out of business, so there is some element of risk to consider with asset - based financing.

Some of McClendon's creditors want a say over how the stake will be disposed of by his estate, viewing the basketball team as one of his few assets of value, according to a copy of a transcript from a May 13 hearing in probate court.

The ruling by U.S. Bankruptcy Court Judge Steven Rhodes, who is overseeing the historic case, came more than two months after the start of a hearing to determine whether the 1,165 - page plan was fair to creditors and feasible for the city to implement.

Remington's plan was fully supported by its lenders and creditors, court papers show.

The negotiation of such an agreement had long been rejected by the country's prior populist administration, leading creditors to gain a ruling in US courts that precipitated Argentina's default in 2014, and so prevented it from issuing further debt.

«I say with all the strength at my disposal that a cheque drawn by Woyome in favour of the Economic and Organized Crime Office, which was not a party to the action or the judgment creditor, can not be a cheque in part payment of the unconstitutional monies ordered by the Court to be refunded to the Republic.

A committee that includes two of Harvey Weinstein's accusers as well as talent agency WME has been formed to represent creditors owed money by The Weinstein Company, according to a bankruptcy court document obtained by TheWrap.

A consumer proposal is approved if a majority of creditors (based on the dollar value of proven claims) vote yes after which it is approved by the Court.

For instance, if you have been served by one of your creditors to appear in court over a debt, the bankruptcy filing will stop this lawsuit in its tracks.

Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the creditor).

Some of your property may be sold by a court - appointed official, called a trustee, or turned over to your creditors.

When you fail to pay your loans, the creditor can run after you by filing a case in court.

A default notice and any court action that are reported by your creditors to credit bureaus, for example, will hurt your credit score.

The legal procedure allows you to settle your financial obligation for less than you owe with the help of a gov» t Licensed Insolvency Trustee, by discussing, formulating and implementing a compromise (deal) with your creditors while under court protection preventing them from exercising their normal rights everything stops, including collection action unless specifically exempted, like child support.

Some of your property may be sold by a court - appointed official — a trustee — or turned over to your creditors.

A judgment lien can only be granted by a court when a creditor takes a debtor to court for failing to pay a debt and the debtor loses.

Collection Efforts Prohibited by Bankruptcy Discharge Once you file for bankruptcy and receive your discharge order from the court, creditors are prohibited from attempting to collect on debts that were included in your bankruptcy, period.

In addition, creditors can ask the court to lift the automatic stay by citing proof that its purpose is not being served.

We Pledge to ensure that the filing of a new bankruptcy case by our office will legally stop all creditor collection activity, including foreclosures, repossessions, court proceedings (other than criminal prosecutions), garnishments (other than domestic support obligations), threats, creditor calls, collection letters, and general creditor harassment.

A judgment results from a ruling by a court in favor of your creditor, which states that you must pay the specified amount of money.

Once you have filed for protection with the Court, your creditors are required by law to stop all collection activity against you.

And social security or other government benefits (beyond $ 9,000 p / y) may be seized to repay government student loans, under a 1996 law upheld by the Supreme Court in 2005 But if the student loans are strictly private, not guaranteed by the government, then the lender can only use the collection options available to any creditor.

For example, a government - backed loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments against a debtor, only one at a time can garnish 10 % of wages, but a government student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government student loan.

Garnishment often happens by state court order after a creditor sues you for nonpayment of a bill and wins.

I discovered they were not responding to me when I tried to call after receiving a summons to court by one of my creditors.

Once a consumer proposal is accepted by your creditors and approved by the court, none of your creditors can change their mind, or demand larger payments.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

An administration order is a court order which stops further action by creditors whilst you make payments to court.

It could be that pastors, more authorities on the bible than bankruptcy codes, do not necessarily understand the dynamics of chapter 11 bankruptcy which, more often than not, results in an administrative reorganization and creation of a debt repayment schedule jointly agreed upon by the church, creditors and the courts.

The Scam «We'll reduce your debts by 70 % through a government mandated debt relief program» «We restructure your debt through a 100 % legal program approved by the court» «We work for you and not your creditors» Have you heard of these catchy slogans from debt consultants who will tell you anything you would like to hear?

But if you have an asset case, meaning there are items to sell, the court could deny a discharge with respect to your debt associated with that creditor because they were not able to be paid by the trustee.

(Creditors are notified of the bankruptcy filing by the court clerk).

The RDSP is not exempt from creditors by statute but a recent British Columbia Supreme Court decision in November suggests the RDSP is covered under common law.

These types of actions by creditors can appear to a bankruptcy court that they are actively trying to collect a debt against the automatic stay.

Like any business being hounded by creditors with lawsuits in hand, ResCap is applying for legal protection in the bankruptcy courts.

Bailiffs are often used by creditors after court action has been taken.

The court found when a credit counseling group «contacted clients» creditors to try to negotiate «re-aging» of accounts, a process designed to improve credit scores by relabeling delinquent accounts as current» that created an issue of engaging in credit repair.

The claim can be paid through the liquidated proceeds collected for distribution to creditors or through a payment plan approved by the bankruptcy court.

If the decision is made by a court officer, your creditor will have to send you a copy of the interim order within 21 days of the order being made.

Even if funds in your American Express Serve Account (whether held by us or held in a Custodial Account) are protected from claims by our creditors, in the unlikely event of our insolvency, it is possible that you will not have access to those funds while court or other legal proceedings are ongoing.

Any claim not made by a creditor within a certain time frame may be subject to being discharged by the bankruptcy court.

In addition, if the filer has joint assets with a spouse, such as a bank account or a home, the entire asset can be liquidated by the bankruptcy court in order to satisfy the creditors of the individual, even if only the individual is filing bankruptcy, depending on the laws of the state where you live.

The discharge is a court order that permanently enjoins creditors from taking any action against the debtor to collect on a debt owed by the debtor to the creditor.

But the knowledge of exemptions is still important to chapter 13 debtors, since the Bankruptcy Code requires that chapter 13 plans, in order to be confirmed by the court, must provide as much payment to the debtor's unsecured creditors as these creditors would receive in a theoretical chapter 7 liquidation.

It is an act of bankruptcy and if the debt agreement is not accepted by your creditors they can use the proposal to apply to the court to make you bankrupt.

garnishment [top] Legal proceeding whereby money or property due to a creditor, but in the possession of another, such as an employer, is intercepted by means of a court order and applied to the payment of the debt owed to the plaintiff creditor.

The court provides legal protection against further action by creditors.

If this plan is approved by the court, each creditor receives the agreed upon payment.