Sentences with phrase «on debtor»

The debt will also usually be reported to the credit bureaus and on the debtor's credit report.

As part of their duties, credit controllers also conduct monthly reconciliation of accounts on the debtor ledger.

• The effect on the debtor's operations and ability to restructure if they are unable to make pre-filing payments to their critical suppliers.

(8) Debts for most educational benefits and student loans, unless a court finds that not discharging the debt would impose an undue hardship on the debtor and his or her dependents.

On the debtor side, Chris has developed a track record of successfully negotiating substantially reduced liabilities for his clients.

His practice focused on debtor representation in complex Chapter 11 restructurings.

For more information on the debtor education course and its role in the bankruptcy filing process, speak to your bankruptcy lawyer.

It puts the onus on the debtor to disclose assets, put up security or accept judgment, and this is all beneficial to the award creditor.»

Student Loans: Any governmental, non-profit or any other loan educational loan as defined by the Internal Code is non-dischargeable unless payment would impose an undue hardship on the debtor.

A Chapter 13 case typically lasts between 3 and 5 years depending on the debtor's income and types of debt.

Conventional efforts to collect on a judgment — identifying and executing on a debtor's property — is increasingly ineffective in the face of sophisticated methods open to litigants to conceal, transfer and structure assets and commercial activities across multiple jurisdictions.

I started as a commercial litigator with a high volume practice focussed on debtor / creditor law, loan and asset recovery and mortgage enforcement.

Where the applicant for annulment of a bankruptcy order made on a debtor's petition established that there was no balance sheet insolvency, the evidential onus shifted to the debtor to establish commercial insolvency, ie that nevertheless he was unable to pay his debts.

Insolvency deposits are up — on a debtor's bankruptcy petition from # 325 to # 335, on a creditor's bankruptcy petition from # 390 to # 400 and on a company winding up petition from # 655 to # 700.

Insolvency deposits go up by 16.5 % for petitions presented after 31 May 2011 (Insolvency Proceedings (Fees)(Amendment) Order 2011 (SI 2011/1167)-RRB--- # 700 instead of # 600 on a creditor's bankruptcy petition, # 525 as against # 450 on a debtor's bankruptcy petition and # 1,165 in place of # 1,000 on a wind...

How filing bankruptcy will affect the debtor, including the effects of filing on the debtor's credit history.

Judges who notice a payment attempt on the debtor's part will often show hostility toward creditors, since you've shown good faith, even if the payments are less than the amount of the monthly installments.

Section 523 (a)(8)(B) provides that an educational loan is not dischargeable unless «excepting such debt from discharge... will impose an undue hardship on the debtor and the debtor's dependents.»

The minimum amount of payment required depends on the debtor's income, balance, and the amount that unsecured lenders would have been paid if the former had filed for Chapter 7 bankruptcy.

The law typically restricts garnishing orders to a maximum of 30 % of wages (though child or spousal support claims can attach up to 50 % depending on the debtor's income and the number of dependents).

Government guaranteed student loans can not be discharged in bankruptcy unless, (A) more than seven years has elapsed between the time the loan first became due and the filing of the bankruptcy petition; or» (B) excepting such debt from discharge... will impose an undue hardship on the debtor and the debtor's dependents.»

Debt settlement is a process used by both creditors as well as the debtor to negotiate a resolution of existing money owed by law in order to avoid bankruptcy and the additional adverse effects on the debtor's credit rating it can bring.

With that in mind I will outline the pro's and con's of each method, but which will work for any given individual debtor will vary on the debtor's own circumstances.

# 5 — when Debt Collectors are trained they are often told that if they run a credit report on the debtor is is illegal and they will be subject to fines and are told it is a good idea to set aside funds to pay these fines when caught.

Through court action, a debt collector can gain authority to garnish wages or a bank account, or place a lien on a debtor's property, which effectively prevents transfer of title.

The analysis focuses almost exclusively on the debtor.

unless excepting such debt from discharge under this paragraph would impose an undue hardship on the debtor and the debtor's dependents, for --

To except the education loan debts described in this Complaint from discharge would impose an undue hardship on the Debtor.

Based on the Debtor's current income and expenses, the Debtor can not maintain a minimal standard of living and at the same time repay the loans.

Second, the burden on the debtor / borrower to prove that the student loan is an undue hardship is very difficult.

(8) for an educational benefit overpayment or loan made, insured or guaranteed by a governmental unit, or made under any program funded in whole or in part by a governmental unit or nonprofit institution, or for an obligation to repay funds received as an educational benefit, scholarship or stipend, unless excepting such debt from discharge under this paragraph will impose an undue hardship on the debtor and the debtor's dependents;

In very rare instances, however, student loan debt may be dischargeable if the court finds that paying off the loan will impose an «undue hardship» on the debtor and his or her dependents.

According to the official stipulation, to discharge a student loan this way they must prove that paying them back would prove to be an «undue hardship» on the debtor.

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.

This includes all good information on the debtor such as phone number, address etc..

But the debt gets slapped on the debtor's credit report until it «times out,» a term of legal art with different meanings in different states (generally three to seven years).

This presumption can be rebutted, but the burden is on the debtor to prove that the purchases did not involve luxury goods or services.

Any type of debt forgiveness will have a negative effect on the debtor's credit score.

These were supported by the great Bretton Woods Institutions, the World Bank and the International Monetary Fund and the structural adjustment they imposed on debtor nations all over the world.

These policies, often imposed by the IMF and the WB on debtor countries, and together called Structural Adjustment Programmes (SAP) and include

Despite the rhetoric of democracy there is a lack of transparency m discussions of officials with the IMF / WB authorities and their decisions regarding conditionalities often imposed on the debtor countries without clear exposure even to Parliament and its select committees, much less to the general public affected by them.

The structural adjustment imposed by the IMF and the World Bank on debtor countries as a condition of aiding them to renegotiate their debts has transformed the relative power of governments and economic actors.

Dumoly said the OJK will not regulate interest rates imposed by fintechs on their debtors.

Private student loans are the largest plight on debtors today.

He would point out that Countrywide rewrote more than 83,000 mortgages to alleviate pressure on its debtors in 2007 and that it expects to modify even larger numbers of mortgages this year.

No credit check installment loans are acquired in two forms; secured and unsecured loan, the decision normally varies on the debtors.

But its virtue is that it focuses on the debtors most serious about keeping their homes and least likely to re-default.

Not exact matches

Here's a brief primer for the uninitiated: Debt rating agencies are organizations that regularly produce opinions on the likelihood a given debtor will pay its debts.

But the relief is usually temporary, and the debtor is out getting new credit, on top of the existing debt consolidation loan.

(See Making Student Debt Less Sticky) While the very uniqueness of each loan and each employee's situation makes it inefficient and uneconomical for any one business to take on the problem, in the aggregate this problem is a large source of growing concern for more than 40 million student and parent debtors (as well as their employers).