Sentences with phrase «debt owed to creditors»

In a Chapter 7 bankruptcy, the debtor essentially tells the court that he or she is unable to pay back any part of the debt owed to creditors.

This way, you prevent yourself from being stuck in a financial turmoil because you are unable to pay off the debt owed to your creditors.

As an example, if you were to file for Chapter 13 bankruptcy in Cheektowaga, paying back a portion of the debt owed to creditors might prevent your credit report from being impacted for the full seven - year period.

Bankruptcy eliminated most if not all outstanding debt owed to creditors or loan holders and would provide an opportunity for these individuals or families to start with a clean slate.

The lower is your level of debt owed to creditors and lenders, the better are your chances of snagging a reasonable loan amount.

This is where the insolvent debtor restructures the debts it owes to creditors, according to a rehabilitation plan, while the company continues its operations.

Bankruptcy is a legal process which allows debtors, who are unable to repay debt owed to a creditor, to either discharge the debt or restructure some of their debt payments.

If you have a lot of creditors or a lot of debt owing to creditors then you will probably need to contact them and try to work out / negotiate some deals where you can pay them off in installments over a period of time that is manageable.

Sometimes, the Personal Representative will have a hard decision to make: follow the black letter of the Last Will and Testament regarding the special needs of some assets versus other assets, in order to protect the overall value of the estate and, ultimately, the inheritance of the beneficiaries and the debts owed to creditors.

In doing so, I was able to persuade the bank to accept the seller's demands, including paying off a substantial amount of those unsecured debts he owed to the creditor friends from whom he had borrowed money to purchase the property.

Not exact matches

Known as debt settlement, it's a process by which consumers stop paying unsecured creditors, wait months or even years until creditors have given up hope of collecting, then offer to settle outstanding balances for mere fractions of the amounts owing.

c) the amount of money that the consumer must owe or the percentage of each of the consumer's debts that must be outstanding before the operator will initiate attempts with the creditors of the consumer or their debt collectors to negotiate, settle or modify the terms of the consumer's debts;

«A creditor can sue a single partner for all of the partnership debt owed and this partner is responsible for paying the full amount to the creditor,» Weltman says.

Debt settlement companies will negotiate with creditors on your behalf to lower the amount you owe.

So most of the debts were owed to the rulers themselves, or to their palace (tax) collectors who gradually became independent creditors by the wealth they made.

According to Experian, pay for delete is when a borrower «offers to pay the debt they owe only if the creditor will remove the negative account history from their credit report.»

Debt settlement: Under this method, you'll arrange to pay less than you owe to your creditors, but it can hurt your financial future.

Tsipras said the creditors — the ECB, the EC and the International Monetary Fund (IMF)-- would now finally have to talk about restructuring the massive, 240 - billion - euro ($ 267 billion) debt Greece owes them.

The name and address of the creditor to whom the debt is currently owed, the account number used by that creditor, and the amount owed.

Unless provided in the initial contact, within five (5) days, every debt collector must send a written «validation notice» indicating how much money you owe, the name of the creditor you owe, what dispute rights you have if you think you do not owe this debt, and how to obtain information about the original creditor.

If this debt started with a different creditor, provide the name and address of the original creditor, the account number used by that creditor, and the amount owed to that creditor at the time it was transferred.

Because the homeowners only owes the original amount to the bank, the «extra» amount is paid as cash at closing, or, in the case of a debt consolidation refinance, directed to creditors such as credit card companies and student loan administrators.

The only debts that Emperor Hadrian annulled were Rome's tax records, which he burned in 119 AD — tax debts owed to the palace, not debts to the creditor oligarchy that had gained control of Rome's land.

Most debts in early Mesopotamia were owed to the palace, so rulers basically were cancelling debts owed to themselves and their collectors when they proclaimed Clean Slates that saved their economies from widespread debt bondage that would have diverted labor to work for creditors at the expense of the palace.

Debt utilization is a measure of how much you money you owe to creditors as compared to how much credit is available to you.

«Debt relief or settlement companies often claim that they can work with your creditors to reduce the amount of money you owe, but that doesn't necessarily mean your loan will settle,» said Dudum.

(1) Puerto Rico owes around $ 70 billion total outstanding debt to its creditors, of which a significant chunk is public corporation debt.

If you have multiple debts with different creditors, contact one of the free not - for - profit debt agencies rather than one that promises to consolidate your debts (which will actually increase what you owe).

Both owed a debt to a creditor, but one debt was ten times larger.

«Christianity is not being attack the devil is a liar / people today will sue by association, irs is coming after me in 2011 after i left my business partner in 2008 he did nt pay them or others creditors they do nt care if you do nt owe it they want the money i own another company, a person give me a bad check for 100.00 he got a attoney in n / c trying to sue me for 4000.00 there was no voilation, but everyone i spoke to said it would be cheaper to offer and settlement / he owed the debt he bouced the check, why should i pay, so its about the mighty green but all liars will have their part in the lake of fire, he without sin cast the frist stone

Mr. Speaker, almost two - years into the implementation of the Energy Sector Levies Act, 2015 (Act 899), Government is successfully executingmechanisms to streamline the operations of SOEs and make them financially viable.The ESLA has contributed to paying VRA and TORs debt owed to banks and trade creditors to the tune of GH cents 1.9 billion.

For those who don't know, the Paris Club Refunds are monies legitimately belonging to states which were over deducted from the accounts of the states for the settlement of the debt owed by the country to the Paris Club of creditors under the scheme worked out by the Obasanjo administration.»

At any point in the delinquency, the creditor or the collector has the right to sue you for the debt you owe.

An example of this «workout plan» is the debtor agreeing to pay more than the monthly payment for a fixed period while the creditor agrees to lower the interest rate or even eliminate interest during that time, allowing more of the payment to go toward debt owed versus interest and penalties.

Debt settlement is negotiating with creditors to settle a debt for less than what is oDebt settlement is negotiating with creditors to settle a debt for less than what is odebt for less than what is owed.

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).

Once the debt settlement company thinks it can negotiate a lower amount on the debt you owe with the creditor and you have a lump sum ready to pay the hopeful amount, the company will start negotiating with your creditors.

You, or a representative negotiating for you, make an offer to your creditor to settle the debt for less than what is owed.

If you owe debt that amounts to something more than $ 10,000 and you're tired of splitting your payments among multiple creditors, you're perhaps the best candidate for debt consolidation.

And based on that notices will go out to the creditors, to people you owe money to, telling them that the bankruptcy has occurred and they can no longer sue you, they can no longer contact you to collect the debt, they can't garnish your wages.

Nothing seems worse at a time when you owe thousands of dollars in debt and you have taken out loans to repay all your creditors.

Like many other companies of its ilk, it charges fees for its services only after working with your creditors to reduce the total amount of debt you owe.

If you select this debt relief restructuring option, Westgeest & Associates will work with you to develop a plan, a proposition, proposal: an offer to pay your creditors a portion of what they are owed, including any other term (s), condition (s) required to see, foster the proposal to completion over a period extending up to five (5) years, and present, negotiate and administer the plan with your creditors.

Debt settlement: Process of negotiating with one or more creditors to reduce the balances owed by debtors.

A consumer proposal is a legal consumer credit proposal filed under the Bankruptcy & Insolvency Act where you make an offer to your creditors to settle your debts for less than you owe.

It provides a means to restructure your debts, working with creditors to pay what you owe whilst getting a level of protection that won't leave you penniless.

Within five days of contacting you, a debt collector must send out a validation letter telling you how much you owe, the creditor you owe the money to, and steps you can take if you don't believe you owe the money.

Creating a list of debts that includes the names of the creditors, the total amount you owe, the monthly payments you need, and the due date for payment is a good idea just to help you visualize exactly how much you owe and need to pay off.

Debt settlement: Under this method, you'll arrange to pay less than you owe to your creditors, but it can hurt your financial future.

Debt settlement programs are designed to assist consumers who owe more than $ 5000, owe several months worth of payments, and who can not pay creditors due to reduced income including unemployment, layoff, illness or reduced work hours.