Sentences with phrase «creditors take the matter to court»

After at least six months without receiving payments and no communication from borrowers, some creditors take the matter to court.

Not exact matches

In the U.S., as a practical matter, no one can take away a creditor's right to a contracted interest payment (or other cash payment) unless that individual so consents or a court of competent jurisdiction, usually a bankruptcy court, suspends that payment.

Those serving demands without the benefit of a judgment should also bear in mind that the courts have taken a dim view of creditors who use the process merely as a threat to the debtor with no intention of following the matter through to the bankruptcy stage.