Sentences with phrase «known as a debtor»

The legislation gets complex for Section 75a, because for a purchase to be covered, the finance must be properly linked to an item (known as a debtor - creditor - supplier agreement) so the finance company can see a clear relationship between the money and the goods.

Prior to receiving a discharge, the Bankruptcy Code requires that you complete a mandatory Financial Management Course (also known as a Debtor Education Course) that is designed to help you manage your personal finances in the future.

Not exact matches

No doubt banks lobby to keep their debtors paying them as much as possible.

You know, «Forgive us our debts, as we forgive our debtors.»

Chapter 11, known as «reorganization,» is used by businesses and a few individual debtors whose debts are very large.

In a Chapter 13 bankruptcy, also known as an adjustment - of - debt plan, the debtor makes partial payments to creditors as part of three - to five - year repayment plan.

Debt collectors know that few consumers understand their rights as a past due debtor.

Debtors who have no property that is vulnerable to creditors are known as judgment proof.

Chapter 13 also is only available to debtors with regular income and subject to debt limitations — which, as of April 2016, were no more than $ 394,725 in unsecured debt (debt not backed by collateral, such as credit card debt) and $ 1,184,200 in secured debt (like mortgages and car loans).

The attorney for PHEAA said, «As you know a lot of Courts attempted to pursue undue hardship and find undue hardship in order to get at a partial discharge, and that's a tendency that has to be resisted, and it has to be resisted in this case because the debtor has to meet each and every one of the prongs in order to first find undue hardship and so, you know, we can understand why Judge Radcliffe may have gone to accept the Debtor's argument.&debtor has to meet each and every one of the prongs in order to first find undue hardship and so, you know, we can understand why Judge Radcliffe may have gone to accept the Debtor's argument.&Debtor's argument.»

The definition of debt settlement as found in Wikipedia states, «Debt settlement, also known as debt arbitration, debt negotiation or credit settlement is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.»

A monthly payment is determined, and interest is no longer charged as long as the debtor sticks to the payment plan.

The debtor in this personal bankruptcy illustration wants to know what happens to a judgment where the creditor has attached the judgment as a lien on a homestead.

Debt settlement, which is also known as credit settlement or debt negotiation, is a legal process in which a debtor — often, but not always, with the help of a credit counselor — can reach a legal agreement with a creditor to settle their debt for a lesser amount.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

Debtor's Examination (also known as «post-judgment process,» «asset examination,» and «supplementary process»)

I have watched at least three people I know get tremendous help with both their anxiety as well as come up with a reasonable strategy to get rid of debt by going to Debtor's Anonymous meetings.

As an example, a filing wannabe debtor asked these questions on a bankruptcy forum website today concerning the 90 day rule: «Does anyone know from their experience, if the 90 day rule applies to payment of monthly rent, car note, and utilities?

The Cheapass Blog, as it was then known, was born out of sheer frustration with the hope of paying down a $ 120,000 debt much faster than the average debtor wihtout filing for bankruptcy.

Debt settlement, which is also known as credit settlement or debt negotiation, is a legal process in which a debtor — often, but not always, with the help of a credit counselor — can reach a legal agreement with a creditor to settle their debt...

As part of the bankruptcy reform in 2005, Congress enacted a provision in the Bankruptcy Code that requires debtors to complete a credit counseling course, also known as a pre-bankruptcy course, prior to filing bankruptcAs part of the bankruptcy reform in 2005, Congress enacted a provision in the Bankruptcy Code that requires debtors to complete a credit counseling course, also known as a pre-bankruptcy course, prior to filing bankruptcas a pre-bankruptcy course, prior to filing bankruptcy.

The undue hardship standard was not explicitly defined in the Biden - backed law, but many courts interpreted it to require debtors to attempt to prove that their economic prospects would never improve, a concept known in legal circles as «certainty of hopelessness.»

From our recent study we know that there is really no such thing as the «average» debtor.

She, like most people, did not know very much about her options — but our team was able to help her fully understand not only bankruptcy, but her other options, such as filing a consumer proposal, which allows a debtor to keep their assets and can give a fresh start while avoiding bankruptcy.

Most courts, including those in California, have adopted a three - part test, known as the Brunner test, to determine if a debtor meets this requirement.

This is known as the standard repossession of a vehicle, entailing that the debtor has either been struggling with paying his / her car payments on time, or has flat out refused to do so.

To establish undue hardship in most jurisdictions, a debtor must satisfy a three - part test, known as the Brunner test after Brunner v. N.Y. State Higher Educ.

Most courts around the country use a three - prong test to determine if a debtor has established «undue hardship,» known as the Brunner test after Brunner v. N.Y. State Higher Educ.

Most bankruptcy courts have adopted a three - part test to establish undue hardship, known as the Brunner test: (1) inability to maintain a «minimal standard of living» if forced to repay the loans, (2) likelihood that the conditions preventing repayment will persist for most of the repayment period, and (3) «good faith efforts» by the debtor to repay the loans.

The debtor is known as an insolvent when their liabilities exceed their assets and they don't have the ability to pay their debts.

Debt relief firm that claimed ties to US government sued by CFPB — The Consumer Financial Protection Bureau sued two companies both known as FDAA for an allegedly illegal debt relief scheme targeting credit card debtors... (See Fake debt relief firm sued by CFPB)

It's convenient and very fast, but as a debtor you know that the results can be financially devastating.

And this is a very relevant question because as we know from our Joe Debtor study, people who file a bankruptcy or a consumer proposal in Ontario have incomes that are around 40 % less than the median income in Ontario.

If you choose not to follow the Protocol, you issue proceedings and either your debtor is familiar with the Protocol or instructs solicitors who are, then the following sanctions can be imposed by the court: - • An order staying the proceedings which also requires compliance with the Protocol; • An order that if you have not complied you pay the costs of the proceedings or part of the costs of the other side even if you obtain judgment in your favour; • An order that those costs are paid on a more stringent basis known as an indemnity basis; • An order depriving the party who is at fault of any entitlement to interest or alternatively awarding interest at a reduced rate; • Depending on who is at fault the court can also order payment of a higher interest rate of up to 10 % above base rate.

The court can make what could swingingly and lovingly become known as an s 140B (which is a reopening) where there has been unfairness to the debtor because of:

In circumstances where principles of sovereign immunity fetter the ability of an award creditor to execute against the assets of a state debtor, an alternative route that has gained increasing traction has been the possibility of executing against the assets of a State - Owned Enterprise (SOE) through a legal technique known as «reverse piercing.»

Commercial debt, also known as trade debt, is secured or unsecured debt owed by one business to another as a result of the sale or provision of goods or services by the creditor to the debtor.

As that relates to fraud as generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeAs that relates to fraud as generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeas generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeas a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deed.

As we all know, in terms of total nominal amount, the government is the largest debtor in history.