Sentences with phrase «other creditors first»

Some creditors are reluctant to grant credit to consumers - who have not established a «track record» with other creditors first.

Not exact matches

On the other hand, a high debt - to - equity ratio translates into higher risk for shareholders since creditors are always first in line for compensation should the company go bankrupt.

Some maritime liens and other claims give the relevant creditor a «secured» claim, one that is paid out first before the ordinary creditors.

This does not remove the Federal tax lien, but it does allow the other creditors to get their money first.

It just makes sure that the IRS will get the first rights to your property over other creditors.

Commentators for the IRS first mention the subject of acquiring debt other than from the debtor, in other words an organization (debt collector) buying debt from creditor (credit card company).

The credit report lists all of the activity and accounts a consumer has with creditors including mortgages, personal loans, credit card accounts, and other lines of credit and obtaining it is the first step of credit repair.

Add up all those little savings each month, and send them as an extra payment on the bill you decided to pay off first (keep sending the minimum to your other creditors, too).

First, we immediately order all creditors to stop all phone calls and other communications per California and Federal Laws.

If the issuer has enough cash for paying off its creditors, rather than selling the underlying assets, the company uses the cash for paying the first mortgage bondholders before others.

For all government creditors other than the IRS, however, the first $ 750 of a monthly disability benefit is exempt.

First, paying off some creditors (but not others) is not allowed under the bankruptcy code because you are favoring one creditor over another.

Equifax doesn't have a responsibility to notify the other agencies BUT the creditor who supplied the information in the first place (in your case whoever the bill was with) is legally responsible under the FCRA to notify any other agencies that they report to (Experian & TransUnion).

Collection accounts can remain 7 years from the date you first became delinquent with the original creditor and no other payments were made.

At the First Meeting of Creditors the trustee will ask you questions under oath regarding the content of your bankruptcy papers, your assets, debts and other aspects of your financial situation.

On the other hand, a high debt - to - equity ratio translates into higher risk for shareholders since creditors are always first in line for compensation should the company go bankrupt.

Do not have any sort of conversation with them other than to politely take down their name, the name of the collection agency, phone number, your account number with them, the original creditor name and the month / year it first became late with that creditor.

The first thing you need to understand is the IRS is like any other lender or creditor.

The Bankruptcy Code establishes that certain types of debt have priority over others, and these creditors are therefore entitled to payment from the bankruptcy estate first.

Priority debts are the types of debts that Congress has determined should be paid first before any other type of creditor is paid.

Besides for federal student loan debt, with all other unsecured debt, a creditor must first take you to court and win a default judgement — before they can garnish your wages.

Angela, first, regarding the unsecured creditors, it would seem to me that this is no different than any other large unforeseen and unsecured debt taken on by a corporation.

In Holtby v Draper et al [5], a husband transferred a farm business and real property into joint names with his second wife in a hope to avoid creditor claims by his first wife and other potential civil claims by a couple of third parties.

Where the last day of the limitation period falls on an official holiday or other dies non juridicus precluding the appropriate legal action in the jurisdiction where the creditor institutes legal proceedings or asserts a claim as envisaged in article 13, 14 or 15, the limitation period shall be extended so as not to expire until the end of the first day following that official holiday or dies non juridicus on which such proceedings could be instituted or on which such a claim could be asserted in that jurisdiction.

If the first adjustment period is not the period for all adjustments under the terms of the legal obligation, the creditor should still disclose the initial adjustment period and should not disclose other adjustment periods.