c) In cases not coming within paragraph (a) or (b), where the greater portion
of the property of the debtor is situated.
Not exact matches
So the debts ultimately either are paid by the government, or they're paid by a huge transfer
of property from
debtors to creditors — or, the debts are written off.
But their agenda is to make the economic polarization between creditors and
debtors irreversible, ushering in a Dark Age
of austerity and deepening debt peonage in which wages, profits and
property rents are earmarked to pay interest — on loans that can't be paid in a shrinking economy.
This fig leaf
of humanitarian concern for
debtors enables the government to provide public credit that ends up in the hands
of the super-rich who own and manage the financial and
property sector.
The parables disclose with what pleasure and tolerance he surveyed the broad scene
of human activity: the merchant seeking pearls; the farmer sowing his fields; the real - estate man trying to buy a piece
of land in which he had secret reason to believe a treasure lay buried; the dishonest secretary, who had been given notice, making friends against the evil day among his employer's
debtors by reducing their obligations; the five young women sleeping with lamps burning while the bridegroom tarried and unable to attend the marriage because their sisters who had had foresight enough to bring additional oil refused to lend them any; the rich man whose guests for dinner all made excuses; the man comfortably in bed with his children who gets up at midnight to help his importunate neighbor only because he despairs
of getting rid
of him otherwise; the king who is out to capture a city; the man who built his house upon the sand and lost it in the first storm
of wind and rain; the queer employer who pays all
of his men the same wage whether they have worked the whole day or a single hour; the great lord who going to a distant land entrusts his
property to his three servants and judges them by the success
of their investments when he returns; the shepherd whose sheep falls into a ditch; the woman with ten pieces
of silver who, losing one, lights the candle and sweeps diligently till she finds it, and makes the finding
of it the occasion
of a celebration in which all
of her neighbors are invited to share — and how long such a list might be!
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.
The filed Judgment is a LIEN against any / all real
property owned by the
DEBTOR and located in Erie County, for a period
of 10 years from date
of entry
of judgment in the original court.
If the
DEBTOR fails to pay within 30 days
of the date
of judgment date (and files no appeal), the CREDITOR may request a SHERIFF»S EXECUTION from the COUNTY CLERK»S OFFICE giving the Sheriff's Department full authority to seize money or
property as payment toward the Judgment.
Exemptions: A list
of property that bankruptcy
debtors are allowed to keep.
Chapter 13, Adjustment
of Debts
of an Individual with Regular Income, provides for adjustment
of debts
of an individual with regular income by allowing the
debtor to keep his
property and pay his debts over time, usually three to five years.
According to Webster's dictionary, a lien is a legal claim that someone or something has on the
property of another person until the
debtor pays back what he or she owes.
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.
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 bankruptcy filing.
If you choose to lease solar panels, you will be expected to provide the lender with a copy
of the solar lease, as well as termination
of the UCC filing, a legal form giving notice that a creditor has an interest in the
debtor's personal
property.
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.
In addition to the protection afforded to homestead
property in Arizona,
Debtors can exempt one car with $ 6,000
of equity or $ 12,000
of equity if the
debtor is currently disabled.
Exemption laws have been enacted by every state as well as the federal government to protect the
property of debtors against the claims
of judgment creditors and, once a bankruptcy case is filed, the trustee.
If there is a purchase without the cancellation
of the outstanding mortgage, the
debtor keeps owing the remaining
of the mortgage balance to the lender and the
property keeps being tied as collateral
of the loan.
A chapter 13 case may be advantageous in that the
debtor is allowed to get caught up on mortgages or car loans without the threat
of foreclosure or repossession, and is allowed to keep both exempt and nonexempt
property.
Those categories include debts for alimony and child support; money obtained through filing false financial statements; debts for willful and malicious injury to person or
property; debts for death or personal injury caused by the
debtor's operation
of a motor vehicle while the
debtor was intoxicated; and debts from fraud or defalcation while acting in a fiduciary capacity, embezzlement or larceny.
If the IRS has attached a tax lien to the
debtor's
property they can seize the
debtor's
property or wait until the
property is sold and get payment from the proceeds
of the sale.
... all payments made or
property transferred by or on behalf
of the
debtor to any persons, including attorneys, for consultation concerning debt consolidation, relief under the bankruptcy law, or preparation
of a petition in bankruptcy within one year immediately preceding the commencement
of this case.
A
debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the
debtor's willful failure to appear before the court or comply with orders
of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover
property upon which they hold liens.
Exemptions are laws that allow a
debtor to keep, and not part with, certain types and amounts
of money and
property.
Filing Chapter 7 or Chapter 13 Bankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or
property, debts for personal injuries caused from the
debtor's operation
of a motor vehicle while under the influence
of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs
of claim (unscheduled debts), and child support or spousal support.
A creditor has the
property of a
debtor repossessed by a repo - man when a
debtor defaults on a secured note.
A list
of the
debtor's
property, as well as an accounting
of all contracts and leases in the
debtor's name
Chapter 13 bankruptcy allows
debtors the option
of paying out the value
of non-exempt
property to their creditors over time while slashing credit card debt and other unsecured debt.
One common ground for denying a discharge is when the
debtor — with intent to hinder, delay, or defraud a creditor — transfers, removes, destroys, mutilates, or conceals
property within one year before the date
of filing for bankruptcy or any time after the date
of filing.
When
debtors begins to consider bankruptcy, it usually doesn't take too long for them to discover that Chapter 13 offers many
of the same protections and debt relief
of other bankruptcies, without requiring those who owe to get rid
of all their
property.
Once filed, the
property of the
debtor is given to a Licensed Insolvency Trustee who then sells it and distributes the money among the
debtor's creditors in settlement
of the debt.
Once filed, the
property of the
debtor is given to a Licensed Insolvency Trustee who then sells it... Read more»
All
property of the
debtors becomes
property of the bankruptcy estate and can not be divided up in any
property settlement until either the bankruptcy is over or permission is received from the bankruptcy judge.
Some advantages bankruptcy protection might offer a bankrupt
debtor is that you can obtain an automatic stay which means the mere request for bankruptcy protection automatically stops and brings to a cessation certain lawsuits, foreclosures, utility shut - offs, evictions, repossessions, garnishments, attachments, and debt collection harassment, filing might save your home, you can reschedule secured debts, you can receive protection for co-debtors you can keep all non-exempt
property, you can consolidate all your loans under one plan, all or part
of your loans may be completely forgiven, and you can extend certain tax obligations, student loans, or other such qualifying debts.
Whereas the filing
debtor in this illustration can claim the $ 27,871 for their homestead, they will be allowed under the federal exemption guidelines to use only $ 10,825
of the unused money for the second
property.
In a Chapter 7 bankruptcy, most or all
of debtor's unsecured debts are wiped out and, at the same time, in most cases, the
debtor will be able to keep their
property, rather than losing everything they own.
Certain other dissolution related obligations, such as payments to others, hold harmless provisions and
property settlement obligations, are not dischargeable if the
debtor has the ability to pay them and the detriment to the spouse outweighs the benefit
of the discharge to the
debtor.
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.»
A creditor's seizure, to satisfy a debt,
of property belonging to the
debtor that is in the possession
of a third party.
The
debtor is required to disclose to the court all
of his or her
property and debts and turn over all nonexempt
property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors.
Inheritances, life insurance benefits, even lottery winnings, are considered
property of the bankruptcy estate if the
debtor becomes entitled within 6 months
of the date
of filing.
The 90 day rule is specifically mentioned in USC 547 (b) and specifically gives the trustee the option to avoid any transfer
of interest
of the
debtor in
property.
(II) any additional payments to secured creditors necessary for the
debtor, in filing a plan under chapter 13
of this title, to maintain possession
of the
debtor's primary residence, motor vehicle, or other
property necessary for the support
of the
debtor and the
debtor's dependents, that serves as collateral for secured debts;
In a general sense, the U.S. Courts website defines the transfer
of property as «any mode or means by which a
debtor disposes
of or parts with his / her
property.»
Under 11 USC 109 you can be a
debtor only if you are a person who has a residence, domicile, place
of business or
property in the United States.
In order to seize
property owned by a
debtor to satisfy a debt, you must first file a lawsuit proving the debt claim in order to obtain a judgment
of the court for satisfaction
of the debt.
Detailed list
of the
debtor's
property 4.
Unless the
property has a high value, most creditors will not go through the expense
of trying to seize a
debtor's assets.
A Chapter 13 is different because the
debtor's future wages are
property of the bankruptcy estate.