Sentences with phrase «keep making payments to your creditors»

A general rule of thumb with secured credit is: if you wish to keep your property, you need to keep making payments to your creditors.

Not exact matches

Just as creditors want to see that you can make on - time payments, and that you can keep from utilizing too much of your available credit, they also want to observe your ability to handle different types of credit accounts.

You may rebuild your credit by making payments to all your creditors on time and keeping account balances low relative to the credit limit.

The most important thing about a chapter 13 case is that it will allow you to keep valuable property, especially your home and car, which might otherwise be lost, if you can make the payments which the bankruptcy law requires to be made to your creditors.

While your exemptions allow you to keep property even in a chapter 7 case, your exemptions do not effect the right of a mortgage holder or car loan creditor to take the property to cover the debt if you are behind or do not make future payments.

When you are mandated to repay your debts to several different creditors at one time it can become difficult to keep up with the payments that you are making to these entities.

Perhaps you were worried about keeping your car and chose to pay it off before filing without making payments to your other creditors.

In most cases, if you have equity in your house, a consumer proposal is a better option, since you can make a plan with your creditors to make payments over a period of time as long as 60 months so that you can keep your house.

Since creditors have access to both credit reports, you could have a hard time making the creditor believe the cosigner can't afford to pay the debt if he or she has kept up with all their other payments.

You might owe $ 5,000, but if the creditor is concerned that you will be unable to keep making the required monthly payments, and that you might end up defaulting altogether, the creditor might agree to take $ 3,000 right now.

In addition, while a bankruptcy can prevent creditors from contacting you while the bankruptcy is in process, action can be taken during a bankruptcy to ensure you keep making your child support payments.

For example, to keep a car the debtor may choose to redeem the debt (pay the secured creditor the value of the collateral in exchange for a release by the creditor of their lien) or reaffirm the debt (sign a reaffirmation agreement and continue to make car payments).

This can make your overall situation more stressful, increase your debts, and make it difficult to keep to payment arrangements with your creditors.

If you do not keep up these payments, the secured creditor can try to make you bankrupt, which could put your family home at risk.

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.

Make sure your creditors are reporting your payment history properly to the bureaus, and always keep an eye on your company's credit reports.

Whatever the reason for your bad credit history, the first step toward repairing it is applying for a card made especially for your situation and then, if approved, making timely payments and keeping account balances low relative to the credit limit with all your creditors.

Patty was able to make a compromise with her creditors to avoid surplus income payments and keep her assets.

It can be triggered by a payment or an adjustment of some kind or, as I suspect, the creditor attempting to keep the score down, either as punishment or to make it more likely to get paid to raise the score.

If you own property, your creditor may be able to apply for a charging order even if you have kept up to date with the payments you have been ordered to make.

So in order to keep your house or your car, you will have to make the payments, as scheduled to you secured creditors.

Keeping up to date with the payments a court has told you to make stops creditors from using most kinds of enforcement.

In certain cases, if the creditors erased penalties while adding interest when you consolidated, this will be taken into account again if you fail to keep making payments.

With just one payment to make each month, you can simplify your finances, keep up with your payments more easily, and remove the stress of owing lots of money to lots of different creditors.

Consistently making only minimum credit card payments is less dramatic but still harmful, and when combined with a high debt - to - income ratio, warns creditors that you might have trouble keeping up with your payments.