Sentences with phrase «debtor file»

Why should a small business debtor file for bankruptcy protection under a chapter 11 instead of some other type of bankruptcy?

In our recent look at debtors in Ontario, 56 % of debtors filed a Consumer Proposal, compared to just 44 % who filed bankruptcy.

When a debtor files for bankruptcy protection, they list all debts and creditors whom they owe money to, including both secured and unsecured debts.

Whether a debtor files Chapter 7 or Chapter 13 Bankruptcy they are required to attend the 341 Meeting of the Creditors.

If the mortgage company completes the foreclosure sale before the debtor files their Chapter 7 or Chapter 13 Bankruptcy petition, the debtor may lose their home.

A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court.

Bankruptcy (synonyms: Chapter 7 bankruptcy, Chapter 11 bankruptcy, Chapter 13 bankruptcy, Chapter 9 bankruptcy, Chapter 12 bankruptcy and Chapter 15 bankruptcy)-- consumer bankruptcy refers to when a debtor files a petition with the bankruptcy courts.

After the debtor files the Chapter 13 Bankruptcy petition the court initiates an automatic stay which will stop most collection actions.

Generally, it takes effect as soon as debtors file their voluntary petitions and stays in effect for the duration of the case.

The bankruptcy process usually begins when the debtor files a...

The Debtor filed for relief under the provisions of Chapter 7 of the Bankruptcy Code, Title 11 U.S.C. on February 24, 2012.

There is an aspect of the bankruptcy law called the Means Test, which dictates the chapter of bankruptcy the debtor files.

If the original debtor files for bankruptcy, their name can get removed from the debt, but that doesn't mean your portion will also be forgiven.

Now that you understand the differences between Chapter 7 and Chapter 13 bankruptcy, you may be wondering who decides which chapter a debtor files.

When a debtor files for bankruptcy protection from creditors, not only are debts eliminated, but so are the underlying contracts.

On request of a creditor with a claim secured by the single asset real estate and after notice and a hearing, the court will grant relief from the automatic stay to the creditor unless the debtor files a feasible plan of reorganization or begins making interest payments to the creditor within 90 days from the date of the filing of the case, or within 30 days of the court's determination that the case is a single asset real estate case.

The creditors are willing to accept a reduction as much as 50 - 60 % to collect a debtor's money than risk losing everything if the debtor files bankruptcy.

Debtor filed for personal bankruptcy or made a consumer proposal seven years after ceasing to attend school

[vi] Faced with an impossible situation, in November 2012, the debtor filed for chapter 7 relief in the Southern District of Indiana.

In United Student Aid, the debtor filed a Chapter 13 plan that included repayment of the principal of his student loan debt, followed by discharge of the accrued interest at the close of the case.

A debtor files a Chapter 13 petition listing all 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.

The debtor filed for Chapter 7 bankruptcy in January 2009, seeking discharge of all of the loans.

Pre-bankruptcy credit counseling ($ 50) is required for debtors filing under Chapter 7.

The percentage of debtors filing a bankruptcy or proposal who own a home has declined steadily over our last two studies.

These lawyers know how to cut through sham answers that debtors file in lawsuits to defer legal action, and know how to end delaying tactics often employed by debtors.

In a Chapter 13 bankruptcy, the debtor files a plan of reorganization along with their bankruptcy petition.

Highlights of its far - reaching activities include: representing consumer debtors filing bankruptcy; helping veterans in overcoming legal barriers to employment; providing litigation and advice for tenants in legal disputes; and assisting low - income Holocaust survivors claiming reparations from Germany.

Shortly after the debtor files for bankruptcy, the court mails each of the debtor's creditors notice that the debtor is filing for bankruptcy.

Not exact matches

«Only about 9 percent of Massachusetts debtors felt their bankruptcy filing was a result of medical bills,» Austin explains.

«The stark reality is that the debtors are projected to run out of cash in the U.S. in May 2018,» the court filing read.

The documents resemble statements of claim in every respect (aside from the word «draft» stamped across the top) and lead debtors to believe they are facing legal action when in fact no litigation has been filed.

Before filing bankruptcy, you must complete a pre-filing credit counseling session; also you must complete a Debtor Education course before your bankruptcy case is discharged (both are mandated by U.S. bankruptcy code).

To quote from the company's 2017 10 - K filing «We represent underperforming companies that are debtors - in - possession and lenders... we provide independent litigation consulting, including bankruptcy and avoidance litigation... [and] advise our clients in response to allegations involving the propriety of accounting and financial reporting, fraud, regulatory scrutiny and anti-corruption.»

The debtor's assets, valued at approximately $ 639 billion dollars, were sold to Barclays within five days of the bankruptcy filing.

Debtor - in - Possession (DIP) Financing - Financing provided to a borrower after a chapter 11 (reorganization) bankruptcy filing.

He said in a statement at the time that: ``... I have this morning 4th November, 2016 filed an application at the Supreme Court for leave to examine the judgment debtor as the citizen public interest plaintiff in favour of whom the case was decided for the Republic of Ghana.»

«I would like to assure all public spirited Ghanaians that should I be given the opportunity to examine the Judgment Debtor, Alfred Agbesi Woyome, in Court the good people of Ghana will hear and see the beneficiaries of the unconstitutional judgment debt in the NDC and this Government,» Mr Amidu stated in his application which he filed on November 10.

The filed Judgment is a LIEN against any / all real property owned by the DEBTOR and located in Erie County, for a period of 10 years from date of entry of judgment in the original court.

If the DEBTOR fails to pay within 30 days of the date of judgment date (and files no appeal), the CREDITOR may request a SHERIFF»S EXECUTION from the COUNTY CLERK»S OFFICE giving the Sheriff's Department full authority to seize money or property as payment toward the Judgment.

deCODE's actual results could differ materially from those anticipated in the forward - looking statements as a result of risks and uncertainties, including, without limitation, (1) the impact of the announcement of its bankruptcy filing on deCODE's operations; (2) the ability of deCODE to maintain sufficient debtor - in - possession financing to fund its operations and the expenses of the Chapter 11 proceeding; (3) the ability of deCODE to obtain court approval of its motions in the Chapter 11 proceeding; (4) the outcome and timing of the proposed sale of deCODE's assets, including deCODE's ability to close a transaction with SagaInvestments, LLC or any other purchaser; (5) the uncertainty associated with motions by third parties in the bankruptcy proceeding; (6) deCODE's ability to obtain and maintain normal terms with vendors and service providers and contracts that are critical to its operation; and (7) other risks identified in deCODE's filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10 - K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10 - Q or Current Reports on Form 8 - K.

Upon filing, once the bankruptcy court verifies and approves that the filer has a regular job with regular income; it will prompt the debtor to immediately start making payments within 30 - days of filing.

Joint Bankruptcy Filing Joint Debts Joint Filing Judgment Judgment Debtor * Judgment Liens Judgment Liens Justice in Bankruptcy Justify Your Personal Finance Lawyer Jail

For most debtors bankruptcy filing is a complex process that need them stay up - to - date on the bankruptcy laws.

It requires a debtor to file a plan to pay debts (or parts of debts).

So if they file a bankruptcy, the fewer creditors that file claims, the less the debtor has to pay back in chapter 13 plan payments or a chapter 7 buyback (a chapter 7 case which has assets that are unexempt).

To file your bankruptcy petition in New Jersey, a debtor must have resided in the state or had your principle place of business in the state for the larger part of the past 180 days.

The debtor claims property as exempt in the schedules that are filed to initiate the case.

«In this case, there is typically a continuing obligation of the debtor to file timely taxes and provide the returns to the trustee, and to turn over all refunds for payments to creditors,» Archer said.

Navicore Solutions is approved by the Department of Justice's US Trustee Program to provide the credit counseling and debtor education required for anyone filing for personal bankruptcy.