Sentences with phrase «only seize the assets»
Not exact matches
Whereas banks can require personal collateral, such as your home, Lending Club requires only a UCC - 1 lien; this allows the company to seize certain business assets if you default.
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It's very hard to seize a complete asset if only one out of 5 loan - takers defected.
Whereas banks can require personal collateral, such as your home, Lending Club requires only a UCC - 1 lien; this allows the company to seize certain business assets if you default.
Once a creditor is armed with a judgment order of a court of legal jurisdiction, the creditor can proceed to attach or seize assets of the debtor, but only under legal procedures and guidance.
Borrowers will never receive loan proceeds equal to 100 % of the collateral's value, because even the most liquid assets can only be seized and sold through a court process that involves delay and expense.
The trustee is not required to seize your assets and sell them; they are only required to «turn them into cash».
Failure to pay the trust fund taxes can lead the IRS to seize not only the business» equipment, but also the storeowner's personal assets.