When you start declaring that you are bankrupt, what you are saying to your creditors is that you can not possibly
ever repay all of your debt.
Not exact matches
There's no new theme to it, just more riffs on the old one
of a self - reinforcing spiral
of slower growth in China crushing the economies
of its raw material suppliers, while an appreciating dollar makes it
ever harder for emerging market companies and governments to
repay the
debts they gleefully took on when the Federal Reserve was giving away dollars for free.
For millions
of Americans, a mortgage is the biggest
debt they'll
ever have to
repay.
But today it would appear that investors are willing to continue to support a system that is literally floating on the
debt of governments that have no hope
of ever repaying their issuance.
With credit card
debt to pay off and student loans to
repay, many buyers wonder if they'll
ever save up enough down payment (typically, 3 - 20 %
of the purchase price).
Already Buhari has started giving excuses for the abysmal performance.He attributed the quagmire to drop in the price
of oil globally and cleverly laid the blame on the doorsteps
of all Nigerian accusing them
of relying solely on oil.All renowned rating agencies including fitch continue to downgrade Nigeria
ever since Buhari took over and it is projected that Nigeria will not be able to
repay its
debt obligations.Fitch for instance downgraded Nigeria's longterm foreign currency issuer default rating to B + from BB - and longterm local currency IDR to BB - from BB.The general position expressed by almost all the Briton wood institutions is that Nigeria's fiscal and external vulnerability has worsened under Buhari and it is projected that the government's general fiscal deficit could grow up to 4.2 % by the end
of 2016 after averaging 1.5 % under the previous regime.A recent capital importation report by Nigeria Bureau
of Statistics confirms that, last year, the country recorded total inflow
of capital into the economy stood at $ 9.6 billion which was a 53 % drop from previous year and the lowest recorded total since 2011.
In these hard economic times, too many Metro Vancouver, Fraser Valley, Lower Mainland people, and British Columbians who lived free
of financial crisis until now, find themselves facing the shame
of debt they can not
repay after taking out too much easy credit just to live, pay for necessities such as housing, food, medicine, etc., a reflection
of our
ever growing senior and minimum wage population funded with insufficient pensions and facing rising living costs without corresponding increase in earnings.
Discharge, on the other hand, is granted wen serious qualifications are met; these can include improprieties done on the part
of your university, or other things that make it unlikely that you will
ever be able to
repay your
debt.
Considering the low likelihood that such bad
debt will
ever be
repaid,
debt buyers make their money by taking over these obligations for a fraction
of their face value and aggressively going after consumers for payment using letters, calls and lawsuits.
With no interest
ever deals, the repayments are high enough to
repay the
debt over the term
of the loan.
But Bowman doesn't stand a chance
of ever repaying those loans now that he's been denied admission to the New York bar, because five appellate judges viewed Bowman's hefty
debt and inability to
repay it as evidence
of a «lack
of general character and fitness requisite for an attorney.»