Sentences with phrase «creditors during the bankruptcy»

In bankruptcy, mediation is available to resolve two types of disputes: disagreements over the amount of money the bankrupt will pay to the trustee for the benefit of the creditors during the bankruptcy (called surplus income payment); and disagreements regarding the conditions that the trustee has recommended for bankruptcy discharge.

Will I have contact with creditors during the bankruptcy process?

If you are a doctor earning $ 200,000 per year and you went bankrupt because you had bad investments and got stuck with $ 1 million in debts, it's only fair that you contribute more to your creditors during your bankruptcy than someone who earns minimum wage.

The automatic stay is designed to prevent all collection action on the part of your creditors during your bankruptcy case.

Not exact matches

During the 15-1/2 - month bankruptcy process, the city's historic collection at the Detroit Institute of Arts (DIA) came into play as a potential pot of assets to satisfy creditors.

A bankruptcy would, at a minimum, tie up your bullion during a lengthy legal process, and at worst be used to meet the claims of other creditors.

If you don't make your payments on that debt, the creditor may be able to take and sell the home or the property during or after the bankruptcy case.

When you file bankruptcy, federal law imposes an «automatic stay» which prohibits your creditors from taking any action (including phone calls) to collect debts from you including court judgments and tax debts during the pendency of the bankruptcy.

During the past decades of irresponsible lending, creditors threw credit around like candy in markets where the credit was dischargeable in bankruptcy (such as credit cards) and those where it was harder to write off debts in bankruptcy.

During bankruptcy proceedings, a judge may issue a «cramdown» which lowers the amount of the debt that you owe to a creditor.

The IRA is also protected during bankruptcy from creditors, but only up to 1 million dollars.

Inspectors are appointed by creditors to represent them before the trustee during the administration of consumer proposals and bankruptcies.

In addition, while a bankruptcy can prevent creditors from contacting you while the bankruptcy is in process, action can be taken during a bankruptcy to ensure you keep making your child support payments.

During times of economic difficulty, there is a greater demand for services to help debt - burdened consumers and small business avoid bankruptcy through negotiating debt reductions or settlements with their creditors.

During either bankruptcy or an individual voluntary arrangement, you will not have to deal with your creditors directly and indeed they are legally forbidden from continuing to harass or even contact you regarding the repayment of your outstanding debts.

A debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

When you file bankruptcy, the court places an automatic stay that prohibits the creditors from any collection practices during the bankruptcy case.

It is possible for a meeting of creditors to be called during a proposal or bankruptcy.

Secured creditors (among others, including Uncle Sam) are ahead of you, and the kinds of shenanigans people use to get themselves secured - creditor status before and during bankruptcy would turn your hair white if you understood them.

Creditors encourage reaffirmation Before and during a bankruptcy, creditors will encourage you to reaffirm yoCreditors encourage reaffirmation Before and during a bankruptcy, creditors will encourage you to reaffirm yocreditors will encourage you to reaffirm your debts.

This will include a proof of claim which creditors can complete in order to submit a claim for their share of any proceeds realized during your bankruptcy or proposal, including any payments you make.

A claim in bankruptcy must be made by all creditors wanting to get paid during the process.

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

With a Chapter 13 bankruptcy, if the filer submits a plan that will address all of the joint debt, the creditor can not pursue the spouse for payment of the debt during the restructuring payment period (which generally runs for up to five years).

As a legal option under the Bankruptcy & Insolvency Act you get protection from creditor actions during the proposal process.

During bankruptcy, you can surrender property and it can be sold to as much of the debt as possible to the creditor that holds the secured claim against it.

Technically, when you reaffirm an asset during bankruptcy proceedings, you are giving the creditor a waiver on bankruptcy discharge.

Money borrowed by fraud or false pretenses: A creditor may try to prove in court during your bankruptcy case that you lied or defrauded them, so that your debt can not be discharged.

Life during your bankruptcy is largely unaffected except that you do not have to deal with creditors or continue to make payments towards your debt as one of the benefits of filing bankruptcy is a stay of proceeding.

The creditor argued that the order discharging the debt was void because the debtor did not serve the creditor with a summons during the original case, and also because the bankruptcy court did not make a finding of undue hardship.

If you are receiving or have received creditor communications before, during, or after your bankruptcy, you may be entitled to statutory damages, actual damages and punitive damages.

Your bankruptcy attorney will assist you through the mountains of paperwork, prepare you for questions you will be asked during your creditors meeting, engage with the court on your behalf and provide advice to help you make the best of your situation.

During bankruptcy your creditors will be notified of your filing and be required to stop all collection activities against you.

Another word of warning — if you end up in Court at the end of your bankruptcy because you fail to perform your duties properly, the Court may very well order you to make additional payments to your creditors equal to the monthly amount you were able to save during the bankruptcy.

During the meeting of creditors, the trustee assigned to your case will present to you the outcomes of filing a Chapter 7 bankruptcy to ensure you are fully aware of the aftermath.

In addition, Congress added another exception to the automatic stay provisions in 1994, requiring debtors with a secured loan on a single real estate asset to file a reasonable payment plan or make reasonable interest payments based on the fair market rate on the value of the creditor's real estate during the bankruptcy proceedings.

Your creditors won't know you are filing bankruptcy until your petition is filed, so during this period they still expect to be paid.

Lottery winnings and similar windfalls received during your bankruptcy also vest in the trustee for the benefit of your creditors.

Inside the Minds: Creditors» Rights In Chapter 11 Cases - Leading Lawyers On Identifying And Protecting The Rights Of Secured And Unsecured Creditors During Chapter 11 Bankruptcy Cases,

The automatic stay is designed to put an immediate end to threatening phone calls, letters and other forms of creditor harassment during your bankruptcy case.

Plus, the automatic stay provision of Ohio bankruptcy law means that the phone calls and letters from your creditors should stop during this time.

Applying the common - law «interest stops rule» normally applied in Bankruptcy and Insolvency Act proceedings, Justice Newbould ruled that post-filing interest was not payable on the Crossover Bonds.5 Justice Newbould began his reasons with reference to the «fundamental tenet of insolvency law that all debts shall be pari passu and all unsecured creditors [shall] receive equal treatment».6 Justice Newbould found that the status quo with respect to unsecured creditors should be maintained as at the date of Nortel's filing and that to permit certain claims to grow disproportionately to others during the CCAA stay period would violate the status quo.

If creditors are harassing you, the bankruptcy attorneys at Susan M. Williams LLC can help you obtain an automatic stay to provide relief during a tense financial situation.

When you file for bankruptcy the court will likely enter an automatic stay, which is designed to protect you from creditors» lawsuits, harassment, and threats of repossession and foreclosure during your case.

You'll make one monthly payment to the bankruptcy trustee for distribution — you'll have no direct contact with creditors during the protection period of 3 - 5 years.