Sentences with phrase «debt after a chapter»

Though you won't be personally responsible for the underlying debt after a Chapter 7, the lender will still have the ability to enforce the lien.

Not exact matches

I thought about that prediction after learning that the Crystal Cathedral megachurch in California filed for Chapter 11 bankruptcy after its leaders disclosed the church is close to $ 50 million in debt.

After completing a Chapter 7 bankruptcy, your debts will be wiped so you won't have any debt payments to make.

• Chapter 7 Bankruptcy — Also known as a liquidation bankruptcy, a Chapter 7 bankruptcy will discharge most debts in a few months after filing, but the record of the bankruptcy itself usually remains active on a credit report for 10 years.

While a Chapter 13 usually comes off a credit report after 7 years some of these debts may remain active for longer.

An income driven repayment plan like the Income Based Repayment, Income Contingent Repayment or Pay As You Earn is a good tool that should be strongly considered after taking a close look at a Chapter 7 bankruptcy filing in order to clear away other unsecured debts to make the regular student loan payment affordable.

As a reminder, Primus Telecom emerged from Chapter 11 on July 1, 2009 after restructuring its debt down to $ 255 mm from $ 316 mm pre-bankruptcy.

The purpose of the means test is to figure out whether you have enough disposable income, after subtracting certain allowed expenses and required debt payments, to make payments on a Chapter 13 plan.

You can read this guide, How to Rebuild Your Credit After Bankruptcy.A Chapter 13 bankruptcy is reported for seven years, the same amount of time that a defaulted debt can be reported.

Debt is discharged after filing a Chapter 7 Bankruptcy generally within 3 to 6 months from the Meeting of the Creditors.

It is possible to file a Chapter 13 bankruptcy after a Chapter 7 is completed, allowing you to seek a reduction in whatever debts remain from a Chapter 7 discharge.

After one child went bankrupt for the second time, she received a buyout offer, a contingent debt offer in exchange for a «Get out of Chapter 11 free» card, and a free offer of money with the condition that if she went bankrupt again, she would sell out for a price fixed now.

Ideally, the Chapter 13 Bankruptcy plan should be made after a divorce decree so that your discharged debts will not violate a court order of the divorce court.

In Chapter 13 bankruptcies, you typically pay back some or all of your debts over a period of three to five years, and they come off your credit reports seven years after the filing date.

A Chapter 13 will allow him to save his house and force the bank to take a repayment plan even if it doesn't allow for a discharge of any new debt incurred after the prior Chapter 7.

In the case of Chapter 7 bankruptcy, assets are liquidated and the debt remaining after the dispersal of funds may be dismissed.

For this reason, if you want to keep property that is collateral for a secured debt, you will need to catch up on the payments and continue to make them during and after bankruptcy, keep any required insurance, and you may want to reaffirm the debt if you file a chapter 7.

CHASE loan mod agreement was for $ 512,000.00, the interest rates below will be applied: Years 1 -5 at 2 % Year 6 at 3 % Year 7 at 4 % and Years 8 - 27 a fixed rate of 4.5 % and a balloon payment of $ 120,000.00 at the end of the 27th yearSoon after we got the CHASE loan modification, we entered into Chapter 13 to get rid - off the second mortgage and existing credit card debts.

After the Chapter 7 bankruptcy is complete your home will be safe, while many other debts will be discharged including credit card debt, personal lines of credit and medical bills.

«Substantial abuse» was expanded by the Bankruptcy Reform Act, which went into effect on October 17, 2005, to include a Means Test which allows Chapter 7 only if a debtor has less income than the median for the state of residence, or can pay less than 25 % of his or her unsecured debt from income remaining after meeting expenses over a 5 year period.

Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday with debts of $ 1 million to $ 10 million after being buried by legal fees and lost business.

With a Chapter 7 Minnesota bankruptcy, your unsecured debts are discharged within 60 - 90 days after filing.

If you filed a Chapter 13, your payment plan is confirmed after the meeting of the creditors and you make your payments for the duration of your payment plan, after which, the remaining balances on your dischargeable debt is discharged.

If it is more than the median, you must pass the means test, which determines if you have enough disposable monthly income (DMI), after subtracting certain allowed expenses and required debt payments, to make payments on a Chapter 13 plan.

Chapter 7 stays on your credit report for 10 years, but the major debts associated with it — usually credit card and medical debt — are discharged after 7 years.

For Chapter 7, the non-exempt assets are sold and the proceeds distributed to creditors — after that you are free of dischargeable debt.

If you file for a chapter 7 bankruptcy as an individual after divorcing, only your individual debts may be discharged, not your spouse's debts.

After reopening her Chapter 7 case in April 2014, the debtor filed an adversary proceeding against the DOE to discharge the student loan debt.

A new purchase after a Chapter 13 Bankruptcy (where debts are being paid over time) has different guidelines also, primarily being that the Bankruptcy has been in a payout period for at least one year, with satisfactory performance and Court approval.

Generally, a Chapter 7 bankruptcy will eliminate all unsecured debt including deficiencies after a foreclosure.

If you have filed a Chapter 7, you usually get your notice of debt discharge about two months after your 341 meeting.

Chapter 13 bankruptcy is typically used by those who have a home mortgage, automobile loan, or other type of «secured» debt that they wish to keep after filing bankruptcy.

You may pay down your debt either in whole or in part, and any debt left over after you complete your Chapter 13 bankruptcy plan will be discharged.

After filing Chapter 13 bankruptcy, the bankruptcy court works with debtors and creditors to create a repayment plan, which gives you the opportunity to repay debts over three to five years.

If you file a Chapter 7 bankruptcy case, you will still be responsible for repaying non-dischargeable debts after you receive your bankruptcy discharge.

Even after the Bankruptcy Reform Act of 2005, debtors can qualify for Chapter 7 and eliminate unsecured debts including medical expenses, credit card debts, and other loans.

After filing Chapter 13 bankruptcy, one of a debtor's first priorities will be putting together, with the help of your lawyer and the court, a proposed debt repayment plan.

After filing Chapter 13 bankruptcy, a debtor must immediately get to work on a proposed repayment plan to repay debts.

In short, a Chapter 13 repayment plan can silence creditors through an automatic stay and give a person the chance to repay their debts in three to five years after the bankruptcy filing.

After months of circling to try and avoid touching down in bankruptcy court, Memphis - based regional carrier Pinnacle Airlines filed for Chapter 11 in Manhattan on Sunday, listing more than $ 1.5 billion in assets against $ 1.4 billion in debts.

(2) This Part applies to a trust indenture, whether entered into before or after the 29th day of July, 1983, if, in respect of any debt obligations outstanding or guaranteed thereunder or to be issued or guaranteed thereunder, a prospectus or securities exchange issuer or take - over bid circular has been filed under the Securities Act or any predecessor thereof or in respect of which a prospectus has been filed under The Corporations Information Act, being chapter 72 of the Revised Statutes of Ontario, 1960, or any predecessor thereof.

Chapter 13 bankruptcy, which involves a repayment plan over three to five years, can override hold harmless clauses because the court is able to eliminate your ex-spouse's obligation to pay you back if the creditor comes after you to collect the debt.

However, your ex-spouse's Chapter 13 bankruptcy offers you the protection of an automatic stay, or postponement, of collection actions on joint debts, so the creditors can not come after either of you while the Chapter 13 case is pending.

Four days after announcing its plans to scale back its store count, hhgregg filed for Chapter 11 bankruptcy protection to resolve about $ 80 million in debt.

Days after the Financial Times reported that Starbucks memo made its rounds through the company, Claire's Stores, the teen - focused accessories retailer, announced that it had filed for Chapter 11 bankruptcy protection as it restructures about $ 1.9 billion in debt.