Sentences with phrase «of bankruptcy the debtor»

There are many types of bankruptcies a debtor can file, and each type has its own advantages and disadvantages for filing them.

There is an aspect of the bankruptcy law called the Means Test, which dictates the chapter of bankruptcy the debtor files.

«If anyone has any actual examples of bankruptcy debtors using «asset protection trusts» to shield large amounts of assets in bankruptcy, and bankruptcy courts allowing them to do it, I would appreciate the cites to the cases.

Not exact matches

«Only about 9 percent of Massachusetts debtors felt their bankruptcy filing was a result of medical bills,» Austin explains.

Debt transactions can also include security features tied to certain assets of a debtor providing an even greater level of security to creditors in the event of default or bankruptcy.

In most cases, debt sits at the very top of the capital structure and in scenarios of liquidation or bankruptcy is first to be repaid with the assets of the debtor.

He was also a restructuring advisor for Crossroads LLC, where he advised debtors and creditors on restructurings both in an out of bankruptcy.

If you are trying to find bad credit loans in Toronto, Mississauga, Brampton and the rest of the GTA, Addison Credit offers financing to debtors with poor credit, newcomers to Canada, and borrowers with a history of repossessions, bankruptcies, and other negative events.

To quote from the company's 2017 10 - K filing «We represent underperforming companies that are debtors - in - possession and lenders... we provide independent litigation consulting, including bankruptcy and avoidance litigation... [and] advise our clients in response to allegations involving the propriety of accounting and financial reporting, fraud, regulatory scrutiny and anti-corruption.»

(2) Unlike U.S. municipalities such as Detroit, Puerto Rico entities aren't considered debtors for purposes of Chapter 9 of the U.S. Bankruptcy Code.

The debtor's assets, valued at approximately $ 639 billion dollars, were sold to Barclays within five days of the bankruptcy filing.

The World Bank and the IMF required debtor nations to open up their economies to transnational corporations as a condition of assisting them to avoid bankruptcy.

The purpose of such exemptions is to permit debtors in bankruptcy to retain a modest amount of personal property and equity in their homes so that they can continue to maintain their lives, and to protect them from becoming homeless, unemployed, or otherwise dependent on the State.

Included in this legislation is a new exemption from the satisfaction of a money judgment for a vehicle not exceeding $ 4,000 above the debtor's liens and encumbrances ($ 10,000 for a vehicle equipped for use by a disabled person) and a raise of the bankruptcy exemption accordingly.

deCODE's actual results could differ materially from those anticipated in the forward - looking statements as a result of risks and uncertainties, including, without limitation, (1) the impact of the announcement of its bankruptcy filing on deCODE's operations; (2) the ability of deCODE to maintain sufficient debtor - in - possession financing to fund its operations and the expenses of the Chapter 11 proceeding; (3) the ability of deCODE to obtain court approval of its motions in the Chapter 11 proceeding; (4) the outcome and timing of the proposed sale of deCODE's assets, including deCODE's ability to close a transaction with SagaInvestments, LLC or any other purchaser; (5) the uncertainty associated with motions by third parties in the bankruptcy proceeding; (6) deCODE's ability to obtain and maintain normal terms with vendors and service providers and contracts that are critical to its operation; and (7) other risks identified in deCODE's filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10 - K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10 - Q or Current Reports on Form 8 - K.

Also, the justices ruled in favor of a student debtor in a case involving student loans and bankruptcy that was being watched closely by many in banking and higher education.

Bankruptcy is a legal proceeding that clears certain debt of a debtor who can no longer pay off their debts.

Upon filing, once the bankruptcy court verifies and approves that the filer has a regular job with regular income; it will prompt the debtor to immediately start making payments within 30 - days of filing.

To put that number in perspective, it's also important to understand that, in Canada, student loan debt can not be discharged in a bankruptcy or consumer proposal unless the debtor has been out of school at least seven years.

Finally, you can't be a debtor in a Chapter 11 bankruptcy, and you can't have received advance payments of the premium tax credit for yourself, your spouse, or anyone you signed up for health insurance coverage who isn't being claimed as a personal exemption on someone else's tax return.

Exemptions: A list of property that bankruptcy debtors are allowed to keep.

If a relative or friend has cosigned a loan, and the debtor discharges the debt in bankruptcy, the cosigner may still be liable to repay all or part of the loan.

Since 1992, the NACBA has been serving as a trusted resource for bankruptcy attorneys, committed to protecting the right of consumer debtors.

The point of bankruptcy is to get a fresh start and that is only possible if the debtor has something to start with.

In the case of a Chapter 13 bankruptcy, the debtor pays disposable income into a monthly «plan» to pay creditors.

To file your bankruptcy petition in New Jersey, a debtor must have resided in the state or had your principle place of business in the state for the larger part of the past 180 days.

Citing a long line of cases that include tax refunds as part of the bankruptcy estate, the court found the debtor's argument unpersuasive and ordered that he turn over the funds minus approximately $ 10,000 he had available in unused exemptions.

Income tax refunds are property of a debtor's bankruptcy estate to the extent they are derived from withholdings from the pre-petition earnings of the debtor.

Navicore Solutions is approved by the Department of Justice's US Trustee Program to provide the credit counseling and debtor education required for anyone filing for personal bankruptcy.

Some of these organizations have even lead debtors straight into the courts of bankruptcy.

My point is that, as a debtor, you'll get more out of the system than your bankruptcy judge, your bankruptcy lawyer, or anyone else who works in the bankruptcy system.

When my firm, Hoyes, Michalos & Associates, did a study of people who filed a bankruptcy or consumer proposal with us, we found that the average senior debtor owed almost $ 70,000 in unsecured debt, which was the second highest among all age groups.

The Bankruptcy Code sweeps up all property of a debtor into a pot for creditors, even property received through inheritance at any time before and up to 180 days after a bankruptBankruptcy Code sweeps up all property of a debtor into a pot for creditors, even property received through inheritance at any time before and up to 180 days after a bankruptcybankruptcy filing.

The best course of action for many debtors like you could be to file bankruptcy.

Filing bankruptcy — an act in which a debtor starts a bankruptcy case and obtains the protection of the automatic stay by filing a petition and certain other documents with a bankruptcy court.

Meeting of creditors — an event every debtor must attend about 3 — 4 weeks after filing bankruptcy.

Surprisingly, less than one tenth of one percent of debtors who file for bankruptcy even attempt to have their student loans discharged.»

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.

Judge Pappas noted that Brunner was decided in 1987, at a time when the bankruptcy code allowed discharge of student loan debts on either of two grounds: first, if the student loans had been in repayment status for five years or more on the date the bankruptcy was filed, or second, if repayment of the student loans would constitute an undue hardship on the debtor.

Shedding student loans through bankruptcy is difficult, but over the past three years or so, a number of bankruptcy courts have ruled in favor of college - loan debtors, showing both compassion and common sense.

The first student loan reforms took place in 1976 as an amendment to the Higher Education Act and required that debtors wait five years from the beginning of their repayment period, or demonstrate undue hardship, before their student loans were eligible for discharge in bankruptcy.

Although it took a number of years for the debtor to prevail, eventually with the help of a good bankruptcy attorney she was able to show that the discharge of debts in bankruptcy applies to even the most powerful of creditors.

Owing money on credit cards and other debts leads «Joe Debtor» to the financial abyss, because he's paying more than he earns each month to service his debt,» concludes Douglas Hoyes, trustee in bankruptcy and co-founder of Hoyes, Michalos & Associates Inc..

Bankruptcy is a procedure that allows a debtor to be freed of overwhelming debt while still giving creditors fair treatment in what they are owed.

The subsequent chapter 13 bankruptcy eliminated the second mortgage lien, effectively wiping out any liability the debtor may have had on the second mortgage outside of his chapter 13 plan payments.

Most Chapter 7 debtors surrender little or no property in bankruptcy and walk away with a discharge of all their unsecured debts.

When a Chapter 7 case is filed, all of the debtor's property is temporarily under supervision of the bankruptcy court and a case trustee.

While this type of bankruptcy rarely covers all that is owed, it rids the debtor of any further payment obligation.

Arizona debtors can protect up to $ 150,000 of home equity through the bankruptcy process.

You may also file Chapter eleven, but individual debtors who are eligible for Chapter 7 or Chapter 13 bankruptcy rarely chose this option for the complexity and expense of the proceeding reasons.