Sentences with phrase «debts incurred prior»

This part of the code states that all attempts by creditors to collect debts incurred prior to the filing of a bankruptcy petition must stop immediately upon the commencement of a bankruptcy case.

A discharge eliminates all personal liability for debts incurred prior to the bankruptcy case.

However, keeping the debt separate will not result in the spouse being responsible for the loan debt or other debt incurred prior to marriage.

The SCRA provides active - duty service members a reduced interest rate of 6 % on credit card and other loan debt incurred prior to active duty.

Not exact matches

@Daniel Yes, except if both parties agreed to other terms prior to incurring the debt, as you probably did in the contract you signed to get the credit card (which almost certainly prohibits things like sending $ 5,000 worth of pennies as payment).

Certain farm debts: If you incurred the debt for the purpose of running a farm, more than half your income from the prior three years was from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income.

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.

The Plaintiff asserts that her debt for educational loans incurred prior to the 24th of October, 2011 should be discharged because repayment would constitute an undue hardship within the meaning of 11 U.S.C. § 523 (a)(8).»

For some, their credit card debt was incurred prior to retirement.

Small, necessary charges right before filing bankruptcy will not attract the attention of a creditor; however, if you incur substantial debt prior to filing bankruptcy, the creditor will likely object to the discharge of those particular debts.

For debt incurred on or before December 15, 2017, the prior $ 1 million limit will apply.

In order to meet GSE requirements, lenders must verify that an applicant hasn't incurred new debt or liability prior to closing.

A business owned 20 percent or more by a person associated with a different business that caused the government to have incurred a loss related to a prior business debt

Generally speaking, each spouse is responsible for paying off any individually - incurred debt created prior to the marriage; these are separate debts.

This is true even if the debt was incurred for purchase of an item that only one of the parties uses.For example, if a husband buys tools for his job, hobby, or sporting equipment on credit, that obligation is a community obligation, although the wife might never use those tools or sporting equipment.As with community property, generally, debts owed by one party prior to the marriage remain a separate debt of that party and do not become transformed into a community debt just because the parties got married.

The Servicemembers Civil Relief Act (SCRA) is intended to help those men and women who have answered their nation's call by providing certain financial protections, including foreclosure protection, to members of the military that have incurred debt prior to their active service.

As for real estate, probate laws and courts provides a way for someone else to transfer assets, including real estate, subject satisfying any debts that you've incurred prior to passing.

Certain farm debts: If you incurred the debt for the purpose of running a farm, more than half your income from the prior three years was from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income.

Businesses restricted from incurring additional debt by prior loan or bond agreements may be able to circumvent these limits by using a sale - leaseback.