Sentences with phrase «most debtors because»
The reality is that filing a bankruptcy is usually a huge relief for most debtors because they have been burdened for so long.
http://blog.kainscott.com/ Not exact matches
Strike Debt doesn't buy individual debtor's debts, but instead buys bundles of anonymous debt from banks through what it says are friends on the debt broker side (apparently, the banks won't deal with anyone who isn't established, and most brokers won't sell to non-collections agencies because of liability issues).
Most debtors do not qualify for Chapter 7 bankruptcy, however, because they do not have enough qualifying assets to cover their bills.
But the cases are for the most part open and shut because the debtor had likely signed a contract that helps the company prove its case.
Most debtor's responses under these loads is to want to negotiate with their credit card companies first because they have no control over their income and secured mortgages.
Most debt collectors take this step only as a last resort because it's costly and a lawsuit may push a debtor into bankruptcy where the debt could be dismissed entirely, leaving the debt collector with nothing.
This is because each person's or couple's financial situation is unique; however, through years of experience and by helping thousands of clients through the bankruptcy process, my partner and I have learned that most debtors go through at least three stages before deciding if they should file bankruptcy.
Deals with clients in business litigation such as that between Pillsbury and the SonicBlue board may be perfectly reasonable in most situations, but in bankruptcy, where the interests of creditors are paramount in a debtor - in - possession situation, such a deal undermines the entire process because Pillsbury could not be expected to fully pursue claims against the board if Pillsbury was potentially on the hook for any damages by agreement.
Debtors who have many assets may find filing Chapter 13 bankruptcy attractive because they could be able to keep most of their property.
Because our attorneys have represented both creditors and debtors in bankruptcy proceedings, we have invaluable insight into the most effective strategies for each side.