"Individual creditors" refers to individual people or businesses who are owed money by another person or organization. These individuals have lent money or provided goods or services on credit and are waiting to be repaid.
Full definition
The Court of Appeal found that the case law establishes that a trustee may pursue claims on behalf of the bankrupt estate, but may not pursue the claims
of individual creditors.
In a bankruptcy where allegations of fraud and diversion of assets are made against the bankrupt company, the claims
by individual creditors will be dealt with through the ordinary bankruptcy process.
A debt management professional working in this field would know
most individual creditors including what their standard acceptance offer would be.
In pursuing such claims, care must be taken to distinguish between claims
of individual creditors and claims for the benefit of creditors generally.
Debt Settlement is the process of reducing unsecured debt including eviction judgments through negotiations
with individual creditors.
The help they offer deriving settlements can be free, with you making monthly payments to them alone rather than to any number
of individual creditors.
In the days leading up to Thursday's bankruptcy filing, Orr had been working
with individual creditors to renegotiate those debts at dimes on the dollar.
Therefore, to ensure compliance with the directive that a minimum of 50 % of any amount disbursed is dedicated to this, funds will be credited to an auditable account from which payments to
individual creditors would be made.
Your lender in turn pays each of
your individual creditors, a debt reduction strategy that can simplify your monthly payment schedule.
In some cases we will file separate charges with the Federal Trade Commission and Bureau of Financial Protection against each Credit Bureau and
each individual creditor.
We customize professional individualized dispute letters for unlimited items on each of these three creditor bureaus, tatargetting also
the individual creditors to ensure your credit report has 100 percent accurate, verifiable, and correct information reported.
The same goes for debt settlement if you don't know what works and what doesn't for
every individual creditor you should leave it to an expert.
The day of the month that
each individual creditor sends updates varies.
Also, your payments are computed based upon
each individual creditor's requirements (what they deem to be acceptable).
The Fair Credit Reporting Act (FCRA), Fair Credit Billing Act (FCBA) and the Fair Debt Collections Practices Act (FDCPA) afford you the legal right to dispute inaccurate items on your credit reports with the credit bureaus and
your individual creditors.
This is often done using legal procedures but might be agreed by
an individual creditor on your request.
While
the individual creditors set standards to their own preference, they don't all view credit history the same.
Individual creditors will also regain the right to petition for your Bankruptcy and you will be back to where you were before you agreed to the IVA.
By and large, those negotiations determine whether or not
an individual creditor will get full value, and in what form such value, whether full or less than full, is to be paid.
We then make payments to
your individual creditors on your behalf, helping to simplify your finances and making it easier to keep up with your monthly payment.
Instead, most people work with a credit counseling service, which negotiates with
each individual creditor to lower your interest rate and come up with a reasonable repayment period, normally ranging from three to five years.
Chapter 13 bankruptcy requires an individual to pay back a percentage of their debts, typically over a 3 or 5 year repayment plan, and a trustee distributes those payments back to
the individuals creditors.
The answer really depends on
the each individual creditor.
At this point we will file separate charges with the Federal Trade Commission and Bureau of Financial Protection against each Credit Bureau and
each individual creditor.
The next step is to look for fraudulent items on your credit report and work with
each individual creditor to clear up the item.
Remember,
each individual creditor, whether a bank, credit union, or private loan company, determines its own criteria for extending credit, and at what terms.
In addition, My Credit Group also researches various licensing violations state by state pertaining to
each individual creditor resulting in numerous uncontested removals of bad credit which would have not occurred using any typical credit repair agency.
These may include: (a) your financial hardship, (b) the age and balance of the accounts that you owe your creditors, c) the funds you have available to pay for a settlement and (d) the willingness of
individual creditors to enter into debt settlement negotiations.
Yes, this is a possibility based on the motives of
each individual creditor but it is based on several factors and isn't as cut - and - dry as one would assume.
Outside of a Court Proceeding, usually Chapter 11, no one in the U.S. can take away a creditor's right to a money payment for interest, principal, or premium unless
that individual creditor so consents.
~ Trustees in bankruptcy may pursue claims on behalf of the bankrupt estate, including those brought by creditors that accrue to the benefit of all creditors, but may not pursue the claims of
individual creditors that benefit them individually.
There may be considerable factual overlap between
the individual creditors» allegations of fraudulent conduct and allegations that assets were put beyond reach of the creditors generally.
The Respondents took the position that a trustee in bankruptcy has no capacity to prosecute claims of
individual creditors.
This decision emphasizes the importance of distinguishing between claims of
individual creditors and claims brought for the benefit of the general body of creditors.
Whether you are
an individual creditor, a business owner, director or an insolvency practitioner, we work quickly and thoroughly to reach a resolution as quickly as possible.
This is more costly, and is a step on behalf of all creditors, rather than you as
an individual creditor.
Phrases with «individual creditors»