Sentences with phrase «debtor owes»

If the debtor owes the IRS, the government does have 120 days to reclaim the property and will pay you what you paid.

The debtor owes the holder of the note according to its terms.

According to a list of FastShip's 20 largest unsecured creditors, the debtor owes nearly $ 2.1 million to Blank Rome, $ 228,500 to Duane Morris, and $ 195,458 to Philadelphia solo practitioner and former Pepper Hamilton partner Peter Hearn.

For instance a car which a debtor owes 20 thousand dollars but, at the time of filing only has a fair market value of 10 thousand dollars can have the bankruptcy judge declare that 10 thousand is part of the secured debt and the remaining 10 thousand is part of the unsecured debt.

These include when the debtor owes money for income taxes or employment insurance overpayments, as well as in some cases when money is owed for child or spousal support.

The creditors are the people that the debtor owes money, goods, or services to.

A chapter 7 debtor with priority debt needs to have a fairly thorough analysis done of both the assets the debtor owns as well as the nature of the priority debt the debtor owes to make a decision as to whether to file a chapter 7 bankruptcy case.

A lien is a recorded document that states that the Debtor owes the creditor a certain amount of -LSB-...]

If the short sale yields $ 10,000 less than what the debtor owes on the mortgage, and the creditor accepts to forgive that sum; the Andrews - Lewis legislation would allow him to obtain the debt forgiveness tax - free.

Furthermore, the average student debtor owes $ 27,975 in educational loans.

Joe Debtor owes $ 1.85 in unsecured debt for every dollar he earns (after tax).

Debtor owes Chase Student Loan Servicing, LLC for two student loans, one for approximately $ 31,072 and the second for approximately $ 24,320.

Example: Debtor owes Creditor $ 15,000 for a car loan.

When factoring in debt incurred during premed, a whopping 47 percent of debtors owe more than $ 200,000, and 13 percent owe over $ 300,000.

When my firm, Hoyes, Michalos & Associates, did a study of people who filed a bankruptcy or consumer proposal with us, we found that the average senior debtor owed almost $ 70,000 in unsecured debt, which was the second highest among all age groups.

When factoring in debt incurred during premed, a whopping 47 percent of debtors owe more than $ 200,000, and 13 percent owe over $ 300,000.

In In Re Kovacs, the IRS mistakenly claimed that the debtor owed taxes that had been discharged in her recent bankruptcy filing.

Paragraph (8)[enacted as (9)-RSB- excepts from discharge debts that the debtor owed before a previous bankruptcy case concerning the debtor in which the debtor was denied a discharge other than on the basis of the six - year bar.

I do not believe, nor has a case been made, that demonstrates that there is a difference to be made between a debtor owing consumer debts which they are unable to pay, and student loan debts that the debtor has no way of resolving outside of a bankruptcy proceeding.

In the case Ard - Kelly v Sallie Mae the debtor owed $ 913,997 in loans.

Less - educated student debtors owed about $ 28,300 in total, compared with $ 2,500 among those without education debt.

Obviously student debtors owe student debt and others do not, but for the other five types of debt, differences at the median in the outstanding balances are modest.8

Debtors owing no more than # 15,000, with assets worth no more than # 300 and no more than # 50 per month in surplus disposable income will qualify (The Insolvency Proceedings (Monetary Limits)(Amendment) Order 2009 (SI 2009/465).

Not exact matches

In doing so, it will pursue all debts owed by its debtors to the greatest extent feasible.

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

This debtor is owed 100 denarii, about 100 days wages, by another man.

«A certain creditor had two debtors; one owed five hundred denarii, and the other fifty.

But we won't forgive our debtors, because they owe us money.

Jesus has just told the parable of two debtors — one owed fifty denarii, the other five hundred.

5So, summoning his master's debtors one by one, he said to the first, «How much do you owe my master?»

About 218 high debtor customers owe the ECG approximately 3.6 million Ghana cedis.

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.

As a result of higher interest rates debtors have to pay the lender more than what they owed earlier.

According to Webster's dictionary, a lien is a legal claim that someone or something has on the property of another person until the debtor pays back what he or she owes.

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

For those homeowners who owe more than fifty five percent of their monthly income to debtors for all of their combined debts, the mortgage holder must agree to participate in credit counseling in order to form better habits and money management skills.

A consumer proposal is a legal agreement between an individual who owes money (the «debtor») and the people that are owed money (the «creditors»).

We see debtors in financial trouble who owe money for student loans, in addition to other debt such as credit cards.

If you have credit cards, have personal loans you owe money for, or currently have a mortgage loan on your home, you are a considered the debtor.

First, Debtors need to make sure that they do not have any deposits in any banks to which they owe money, whether in the form of CDs, checking or savings accounts, or other forms of deposits.

To average debtors who owe sums of unsecured loans to different creditors finding a good debt consolidation company can be a godsend.

Debtors who owe more than they can afford to repay may qualify for assistance from certified credit counseling programs that work with creditors to develop a repayment program at reduced cost.

The appeals court noted that upon forgiveness of the student loan debt by ECMC after the 25 year period, the debtor would owe income tax on the entire $ 95,000 forgiven debt, except to the extent she was insolvent under the tax code, 26 U.S.C. section 108 (a).

If you use credit cards, owe money on a personal loan, or medical bills you are a «debtor.»

Owing money on credit cards and other debts leads «Joe Debtor» to the financial abyss, because he's paying more than he earns each month to service his debt,» concludes Douglas Hoyes, trustee in bankruptcy and co-founder of Hoyes, Michalos & Associates Inc..

Banks usually collect debts owed by immediately withdrawing the amount of the debt from any deposits the debtor makes into his bank account.

«Joe Debtor» owes almost $ 60,000.»

Bankruptcy is a procedure that allows a debtor to be freed of overwhelming debt while still giving creditors fair treatment in what they are owed.

Generally, a creditor will try to work with a debtor to recoup what is owed prior to resorting to wage garnishment, which requires further time, cost and effort on their part.

If a debtor makes a payment to the bank or the bank's collection agency toward the amount he owes, the statute of limitations in some states can immediately reset.