Sentences with phrase «making payments to your creditors when»

Depending on your specific financial situation, you may or may not be making payments to your creditors when you decide to file bankruptcy.

Not exact matches

Payments are made to a federally insured trust account so that when you reach a settlement, the money can go to your creditors and Pacific Debt Inc. can receive its service fee.

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.

The time begins from the day you fail to abide by the agreement or contract with the creditor, which typically means when you fail to make a monthly payment as required.

Instead, these companies can only charge a fee for their services when they actually settle a debt, such settlement is memorialized in writing and a payment has been made to the creditor.

When your creditors don't receive payment from you, they'll probably start taking actions to convince you to make payment on your account.

$ 40,000 credit card debt - Turning 58 - Have good paying job - Faced recent financial challenges (medical / family assistance) over last 5 months - Have 10 credit cards (3 with high balances, $ 15,000, $ 9,000 and $ 8,000)- Late payments only to the above 3 credit card accounts (3 mos, 2 mos, 1 month)- Made recent payments to 3 credit card accounts to bring accounts to temporary favorable status - Mortgage current - Completed graduate degree but left to pay last year out of pocket when reimbursement program was greatly reduced - Consulted with debt management counselor to go on budget and work with creditors to be paid out of a single monthly payment.

When you're struggling to make payments to your creditors and need a small loan, don't do it alone.

You would make payments into the account each month and a lump sum payment is made to the creditor when the dedicated account balance is high enough to pay the settlement amount.

But when you make the next payment, the creditor applies it to the original unpaid monthly payment.

Another major plus of debt consolidation is the amount of money you will save when making your monthly payments to your creditors.

Typically the only circumstance where a creditor will accept payments over a period is when it makes sense to break the payments up over a short time span.

When you write to your creditors making an offer of payment you often get a mixed response; with some creditors accepting your offer and some refusing.

You get debt relief by obtaining lower monthly payments and a lower interest rate than the average of your previous debt and the lender in return makes sure he is your only creditor and will have priority when it comes to recovering his money.

When you find yourself in a sea of debt, owing payments to multiple creditors and paying a variety of interest rates, it might make sense to consider a debt consolidation loan to help you with debt management.

In other words, a creditor is not supposed to sue you for a debt that is more than two years old, or more specifically for a debt where no payments have been made in more than two years when they should have been made.

When you don't make payments to a creditor, they will sell your debt to a debt collection agency.

When you borrow money — whether it is in the form of charging purchases on a credit card or a new home mortgage — the law allows your creditors to take certain lawful actions when you fail to make your payments including, but not limited to, reclaiming the items that still have unpaid balanWhen you borrow money — whether it is in the form of charging purchases on a credit card or a new home mortgage — the law allows your creditors to take certain lawful actions when you fail to make your payments including, but not limited to, reclaiming the items that still have unpaid balanwhen you fail to make your payments including, but not limited to, reclaiming the items that still have unpaid balances.

It's important to note that when you enroll in a debt management program, many creditors will automatically re-age your accounts once you've made three program payments on time.

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.

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.

You make one payment each month into your trust account, when enough money accumulates to pay your creditor at the reduced amount, you must then authorize the payment and each creditor gets paid off one by one.

The FTC appears to have a clear understanding of the implications for consumers when they are instructed to stop making payments to their creditors and to pay the debt settlement companies instead.

Todd Ossenfort: When debt collection makes your life miserable — A reader reduced a regular payment to her creditor by half and wants to know how much worse things are going to get... (See Credit card debt collectors)

When you consolidate debt, you can make one payment each month rather than many payments to multiple creditors.

When push comes to shove, as they did in California a few years back when it couldn't make payroll, it forced its employees and creditors to accept IOUs in lieu of cash payments, and while they may not have the legal right to do so, they have the economic power to force people to ignore that riWhen push comes to shove, as they did in California a few years back when it couldn't make payroll, it forced its employees and creditors to accept IOUs in lieu of cash payments, and while they may not have the legal right to do so, they have the economic power to force people to ignore that riwhen it couldn't make payroll, it forced its employees and creditors to accept IOUs in lieu of cash payments, and while they may not have the legal right to do so, they have the economic power to force people to ignore that right.

The creditor complies with § 1026.37 (b)(7)(i) when it assumes that the consumer prepays at a time when the prepayment penalty may be charged and that the consumer makes all payments prior to the prepayment on a timely basis and in the amount required by the terms of the legal obligation.