Sentences with phrase «general unsecured creditors»

Garbage In, Garbage Out Garnishment Garnishment Garnishment Garnishment General Unsecured Creditor Gifts Goals Good Faith Good Manners Good to me * Guaranty Gumshoe

If the total amount owed to your first mortgage is greater than fair market value of your property, you can eliminate the security interest to junior lienholders and treat them as general unsecured creditors in your bankruptcy plan (thereby possibly being able to pay them less than 100 %).

Garnishment Garnishment Garnishment General Unsecured Creditor Gifts Goals Good Manners Guaranty Guilt

Judge Martin Glenn yesterday (27 Febraury) approved the plan, which will see secured creditors - which are collectively owed $ 262m (# 173m)- receive between 47 to 77 cents on the dollar, while general unsecured creditors are expected to receive between 5 and 14 cents per dollar claimed.

Dividend: The percentage of claims that will get paid to general unsecured creditors by a bankruptcy trustee on a pro rata basis.

A «presumption of abuse» will arise if: (1) the debtor has at least $ 182.50 in current monthly income available after the allowed deductions (this equals $ 10,950 over five years) regardless of the amount of debt, or (2) the debtor has at least $ 109.59 of such income ($ 6,575 over five years) and this sum would be enough to pay general unsecured creditors more than 25 % over five years.

Judge Martin Glenn yesterday (27 Febraury) approved the plan, which will see secured creditors — which are collectively owed $ 262m (# 173m)-- receive between 47 to 77 cents on the dollar, while general unsecured creditors are expected to receive between 5 and 14 cents per dollar claimed.

If the dividend is set at 5 %, all general unsecured creditors that file claims will receive 5 % of the amount they are owed.

There are three kinds of creditors in bankruptcy cases: secured creditors (typically home mortgages and car loans), priority creditors (typically tax and child support and maintenance obligations) and general unsecured creditors (credit cards, medical bills, etc.).

The next deadline that comes up on the radar is the proof of claim deadline for the general unsecured creditors such as credit cards.

Generally, a plan will classify claim holders as secured creditors, unsecured creditors entitled to priority, general unsecured creditors, and equity security holders.

General unsecured creditors may not intervene.

When your second mortgage becomes unsecured it then falls into the pool of general unsecured creditors and paid a dividend or possibly nothing depending upon the facts of the case.

General Unsecured Creditors are scheduled to receive not less than 2 % of the face value of their claims.

In a decision that may ease the resolution of future bankruptcy proceedings, the Third Circuit Court of Appeals affirmed a bankruptcy court's approval of a sale of substantially all of a debtors» assets based on a settlement in which the secured creditors gifted funds to general unsecured creditors.