Sentences with phrase «debts under a chapter»

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

If your income is higher, you must demonstrate that your disposable income is insufficient to pay back your debts under a Chapter 13 filing.

In this court administered financial fresh start approach about 70 percent of consumers obtain a total discharge of their debt under a Chapter 7 bankruptcy in a matter of months.

Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Not exact matches

York, Pennsylvania - based Bon - Ton, which traces its roots to 1854, had 23,000 employees and 256 stores across 23 states when it filed for Chapter 11 bankruptcy in February with the hope of cutting debt and emerging from a brutal retail landscape under a new owner.

The company that once dominated toy sales in the U.S. has been operating under bankruptcy protection since last fall, when it filed for Chapter 11 under the weight of $ 5 billion in debt.

Tops Markets filed for Chapter 11 bankruptcy on February 21, buckling under $ 1.2 billion in debt.

Chapter 9 protects financially distressed municipalities from creditors while their debts are resolved under the direction of a bankruptcy judge.

Claire's Stores filed for Chapter 11 bankruptcy on March 19, suffocating under $ 1.9 billion in debt.

The dynamics of the debt money system, the phenomenon of capital consumption (which we believe is an «under - reported» major economic problem — although not on this web site, to be sure), the war on cash, and the rise of Bitcoin all have dedicated chapters in this year's report.

And unlike Detroit, which was able to file under Chapter 9 of the U.S. bankruptcy code, there's no court process under which Puerto Rico can restructure its debts — unless Congress changes the law.

Toys R Us, one of the top toy and children's furniture and juvenile products retailers in the nation, filed for Chapter 11 bankruptcy protection early this week, faltering under a massive debt load that has accumulated at a time when more consumers are shopping on line.

He urged his colleagues in Congress to pass the Puerto Rico Chapter 9 Uniformity Act (H.R. 870) which will provide the island's government with the tools needed to restructure parts of its debt under federal bankruptcy law.

-» (A) IN GENERAL. - To be eligible for assistance under this chapter, a project shall satisfy applicable creditworthiness standards, which, at a minimum, shall include -» (i) a rate covenant, if applicable;» (ii) adequate coverage requirements to ensure repayment;» (iii) an investment grade rating from at least 2 rating agencies on debt senior to the Federal credit instrument; and» (iv) a rating from at least 2 rating agencies on the Federal credit instrument, subject to the condition that, with respect to clause (iii), if the total amount of the senior debt and the Federal credit instrument is less than $ 75,000,000, 1 rating agency opinion for each of the senior debt and Federal credit instrument shall be sufficient.»

People can only file for bankruptcy under Chapter 13 if their debts do not exceed a certain amount.

Obviously most people would rather file under Chapter 7 and not have to pay any of their debts.

However, if your income is above a certain level, the law requires one to file under Chapter 13 and pay some debts back.

(Fixed number (Open - ended) account) of payments I0 R0 O0 Too new to rate I1 R1 O1 Pays account as agreed I2 R2 O2 More than 2 payments past due I3 R3 O3 More than 3 payments past due I4 R4 O4 More than 4 payments past due I5 R5 O5 More than 120days or 4 payments past due I7 R7 O7 Making regular payments under WEP I8 R8 O8 Repossession I9 R9 O9 Bad debt; placed for collection IA RA OA Account is inactive IB RB OB Lost or stolen card IC RC OC Contact member for status ID RD OD Refinanced or renewed IE RE OE Consumer deceased IF RF OF In financial counseling IG RG OG Foreclosure process started IH RH OH In WEP of other party IJ RJ OJ Adjustment pending IM RM OM Included in Chapter 13

In situations where a borrower is underwater on their mortgage, the amount of the debt that exceeds their property value is treated under the Bankruptcy Code as unsecured, often paid at much less than 100 % under the terms of a chapter 13 plan.

I have practiced exclusively bankruptcy law since 1991, helping many file bankruptcy under Chapter 7, Chapter 11, and Chapter 13 with clients that range from single moms with credit card debt, to people with huge tax debt, to businesses, including corporations and partnerships.

Under Chapter 13, debtors agree to pay back a portion of their debt over a period of 3 to 5 years.

Under Chapter 13 you will repay some or all of your debts over a period of three to five years.

If the loans were forgiven under the TPD program then you should talk to your attorney about changing your Chapter 13 bankruptcy to a Chapter 7 bankruptcy and just discharge the rest of your debt now.

If your debts are ones that can't be discharged under a Chapter 7 bankruptcy — such as alimony and student loans — then Chapter 13 may be the only option left.

If most of your onerous debts are ones that can't be cancelled under a Chapter 7 bankruptcy, then Chapter 13 may be the only option left.

On the other hand, under Chapter 13 you may have some of your debt cancelled and the remainder will be paid off via installment payments.

Under Chapter 13, an individual repays at least a small portion of his or her debt over a period of time, usually between three to five years.

Debts which are immediately discharged under Chapter 7 Bankruptcy can include credit card debt.

At the end of the bankruptcy process — which can take four months to five years, depending on which chapter you file under — you will receive a bankruptcy discharge which effectively eliminates many debts.

But, if you do not have many assets, you do not have a mortgage, you just want to get out from under the burden of your debts, and you qualify, you may want to consider filing a chapter 7 bankruptcy.

However, certain debts are not dischargeable under Chapter 7; most student loans, recent taxes, alimony, child and court ordered support payments and drunk driving judgment.

If the debt can't be discharged under a chapter 7 bankruptcy, you should talk to the attorney about a chapter 13 bankruptcy and learn what the rules are for handling private student loan debt is in your area under a chapter 13 bankruptcy.

Unsecured debts, such as credit card debts, are reduced (under Chapter 13) or eliminated (under Chapter 7) in bankruptcy.

Under Chapter 13, you'll work with the Trustee to create a payment plan for your debts.

Under Chapter 13 Bankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - income formula.

Filing Chapter 7 or Chapter 13 Bankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supdebts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supdebts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supdebts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supdebts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supDebts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal supdebts), and child support or spousal support.

Under Chapter 13, people have three to five years to resolve their debts while applying all their disposable income to debt reduction.

Under a Chapter 13 filing, «discharge» means you are making an effort to pay back your debts.

Under Chapter 13, however, you'll be responsible for completing a three - to five - year payment plan to partially repay your debts.

In order to get out from under his huge student loan, Mr. Precht filed a Chapter 7 consumer bankruptcy and was successful discharging his other unsecured debt of about $ 3,100.

Under Chapter 13, you'll be given the span of your repayment plan to repay these «priority» tax debts.

The bankruptcy code also prohibits stockbrokers and commodity brokers from filing under Chapter 13, even if their debts are personal.

Instead of being completely discharged from most of your debts you are most likely falling under the Chapter 13 reorganization procedure.

These debts will be unchanged if you file under Chapter 7.

So long as you qualify for the bankruptcy chapter under which you file, most consumer bankruptcies filed with the help of an attorney are discharged — and you'll pay pennies on the dollar for your debt.

It now appears that the future may cause those individuals faced with large and difficult to pay student loans to similarly use a Chapter 13 bankruptcy as a tool for bringing their student loan debt under control, as well as to obtain a monthly payment which they can afford to pay each and every month.

Whether you file personal bankruptcy under Chapter 7 or Chapter 13 in the United States, or under the laws in the country where you live, personal bankruptcy is designed to discharge your debts.

By filing under this chapter, you get the option to reorganize your payment plans and reschedule secured debts.

In a Chapter 7 case, the most common type of personal bankruptcy, the court doesn't allow an individual to keep their assets, but most exemptions allowed under state and federal law are large enough to cover a secured debt such as a house mortgage a car loan.