Sentences with phrase «much unsecured debt»

When you speak with a bankruptcy attorney, you will be asked how much secured debt you have and how much unsecured debt you have.

Not exact matches

Even though the Massachusetts filers owed substantially more in unsecured debt (that is, debt not backed by a home, a car, or another asset) than their counterparts in other states, they reported less than half as much medical debt, which is also unsecured.

Did you perhaps spend too much money and now your unsecured debt payments are just spiraling out of control?

Finally, pay down unsecured debt as much as you can.

Typically, the interest rate on unsecured debt such as bank or store credit cards, personal loans and some lines of credit is much higher than the rate of interest individuals pay on their mortgage.

How much you owe: Unsecured debt consolidation loans are generally available for lower amounts and higher costs than a secured loan such as a home equity loan.

Because credit card debt is unsecured, the rates are much higher for these debts than many others.

Through this your unsecured debt is essentially reorganized and the court determines how much money each creditor will receive.

In situations where a borrower is underwater on their mortgage, the amount of the debt that exceeds their property value is treated under the Bankruptcy Code as unsecured, often paid at much less than 100 % under the terms of a chapter 13 plan.

Though it is much easier and faster to recover their investment if there is a security guaranteeing repayment, the entire debtor's assets do act as a guarantee for unsecured debt.

Our negotiators work to settle each of your unsecured debts for much less than the full amount owed, ranging from 30 % — 35 % savings after fees are added in.

Be aware, though, that unsecured debt consolidation loans would be lower regarding how much cash you can expect to receive, because the lender is taking a greater risk with no assets to reduce the loss should a borrower default.

An unsecured loan, as the name suggests, does not require collateral against the loan and can be used for any reason you may have in mind — that much - awaited vacation or a medical emergency or even debt consolidation.

A debt consolidation company will usually look to secure larger loans against an asset such as your home (the interest payable on an unsecured loan will be much higher), which means that it will be at risk if you do not keep up with repayments.

Under the Exposure Analysis conducted by IB, if an account would lose so much value that its equity would be eliminated and it would then additionally have an unsecured debt to IB (i.e., negative equity), this would represent an Exposure to the firm (since IB is legally obligated to guarantee its customers» performance to the clearinghouse even if the customer has no remaining equity).

Yes, but it is much more difficult than discharging other types of unsecured debt like credit cards.

It doesn't matter how much your contracted unsecured monthly debt repayments are, this is the amount your IP has calculated you can afford to repay and assuming your creditors agree to your proposal, this is the only amount you'll ever be asked to pay.

The secured debt gets paid out as much as possible from the property's sale, and any shortfall is unsecured, and therefore eligible for discharge in any insolvency proceeding.

So while a Debt Consolidation Program will not include secured debts, it does make unsecured debts much more manageable (unsecured debts almost always have a much higher interest rate too) thus improving your ability to continue paying your secured debts in a timely manner.

If you make the choice to go with a Debt Management Program, a credit counselling agency will then get a hold of your creditors and arrange things so that each one of your unsecured debts is added to the repayment plan (it isn't a personal consolidation loan, but it pretty much gives you the same result in the end).

understand what your current financial situation is including what type of debts you have and how much you owe to all your creditors, not just your unsecured creditors;

Enter in your collection debts, credit card debt or other unsecured debt into the calculator to see just how much you might save every month.

After spending several years working with the consumer finance sector, they determined that merely consolidating high amounts of unsecured debt into debt consolidation loan didn't solve the fundamental problem — too much debt to begin with!

How much you owe (some debt solutions are only available for if specific levels of debt, for example, a debt relief order is only available to people with unsecured debts under # 20,000).

Since June 1, the limit on how much outstanding interest - bearing debt you can owe on credit cards and other unsecured loans across all financial institutions has been cut to 18 times your monthly income for three straight months.

This is why it is important to rid yourself of as much unnecessary debt as possible, such as unsecured credit card debt, as possible before you apply for a mortgage loan to purchase a home.

However, by getting your unsecured debts under control with a consumer proposal or bankruptcy, you are likely in a much better position to afford the mortgage and car payments going forward.

Unsecured debts are thus riskier for the lender than secured debts, and will usually carry much higher interest rates.

The consequences of failing to keep up with these payments are much more severe than failing to maintain unsecured debt repayments.

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An IVA involves settling as much as possible of your unsecured debt by extending the payment term, and reducing the monthly payments.

Using an online social lending website to borrow money can be an effective strategy for finding an unsecured debt consolidation loan, however, you will need to provide much of the same information you would to a traditional bank.

Property of the filer is «liquidated» and then sold, to pay off as much of his or her unsecured debt as possible.

There are overall limits as to how much unsecured and / or secured debt a debtor may have and still utilize Chapter 7 or 13.

Chapter 7 bankruptcy was designed to eliminate debt by discharging, that is, forgiving, much or all unsecured debts.

Chapter 7 bankruptcy may be an attractive option if your income can't keep up with your debts, if you have unsecured debts from credit cards and payday loans or if you don't own much property.

For debtors that do not own much property, Chapter 7 bankruptcy may be an attractive option because many unsecured debts, such as credit cards and medical bills, could be discharged.

If Chapter 7 bankruptcy is a real option for you, you may be able to have much or all of your unsecured debts (like medical bills, credit card debt and payday loans) eliminated in a few months.

If you don't have much property, your income is low, and most of your debts are unsecured, you might want to consider Chapter 7 bankruptcy.

According to the US Courts website, not all debts need to be paid in full in Chapter 13 proceedings: The plan need not pay unsecured claims in full as long it provides that the debtor will pay all projected «disposable income» over an «applicable commitment period,» and as long as unsecured creditors receive at least as much under the plan as they...

In recent times, with rates at historical lows, it's been advantageous for consumers to roll their unsecured debt into their mortgage to decrease monthly payments — so much so that the government has sought an end to this trend of high loan - to - value mortgages.

If you owe on your car, have credit card debt, or other loans it's best to pay those debts off first because these are usually «unsecured» loans which carry a much higher interest rate than your home mortgage.

Much of the growth attributed to the industry occurred in the unsecured debt arenas, including credit card, car loan and student loan debt.

Moore points out that credit card debt is unsecured while a home loan is secured by your home, which explains why the interest rate is so much lower than a typical credit card rate.