Sentences with phrase «individual pays back their debts»

Credit scores are assigned based on how an individual pays back their debts relative to everyone else with a credit history.

Not exact matches

Buying individual bonds exposes investors to credit risk, the possibility that a bond issuer will default on their debt (i.e., that they won't pay back the lender).

However, for the vast majority of individuals who simply want to eliminate their heavy debt burden without paying any of it back, chapter 7 provides the most attractive choice.

Individuals with a secured credit card who don't pay back their debt forfeit their security deposit.

This type of refinancing can assist the individual or couple in paying only one payment for several types of debts and paying these debts back at a lower interest rate.

Typically, invisibles and unscorables face a tough road if they want to buy a home, because mortgage lenders are reluctant to fork over money to individuals with no traditional track record of paying back debts.

There are no specific asset requirements in order to set up an individual voluntary arrangement but in spite of this you may find it extremely helpful to sell off some of the assets you own in order to help pay back your debt.

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.

A chapter 13 bankruptcy is a reorganization type bankruptcy for individuals designed to pay back all or a portion of unsecured debts over a 3 or 5 year plan.

If an individual does not earn enough income to pay back a loan then no matter what their credit score, debt, or appraisal might be, the bank will not approval the loan.

When it comes to paying back student loans, there are several state run programs that can help to alleviate or completely eliminate the student loan debt of an individual.

This person will then be in charge of arranging the individual's finances more efficiently and formulating a way in which to pay back any debts that are owed to lenders.

This means that the individual's debt will be erased because he / she is incapable of working in order to pay it back.

Individuals in debt should take action to stop their debt from increasing further and find ways to pay back the money they owe as soon as possible.