Sentences with phrase «payments on secured debts»

When filing for Chapter 13 bankruptcy, you'll have to repay your certain debts that have priority in full — such as taxes and child support payments — as well as making payments on secured debts such as car loans and mortgages.

Keep in mind that you are required to maintain payments on secured debts if you want to keep the related asset.

In a chapter 13, you make a 3 or 5 year plan that allows you to make payments on all secured debts, and on part or all unsecured debts.

As long as you make your payments on those secured debts you get to keep the things that you're paying for.

Remember that part of the means test takes into account your payments on secured debts that due within the next 60 months.

You can show how you've made on - time payments on secured debt and even show how you've successfully saved money since your bankruptcy.

In fact, if you fail to make payments on secure debt the creditor can simply take the property back.

If you stop making payments on a secured debt, the creditor has the legal right to take possession of the agreed asset.

In order to be confirmed by the court, the debtor must prove sufficient income to support a 3 - 5 year plan wherein payments on secured debt such as mortgages and auto loans (including arrears) and non-dischargeable items continue and unsecured creditors typically get paid a small portion of their debts.

Not exact matches

Additionally, debt can take on multiple structures including but not limited to senior secured, mortgage, unsecured, convertible, zero - coupon, payment - in - kind, revolvers, floating - rate, and structured products among countless others.

On the other hand, variable rate loans can be an affordable way to quickly pay off debt or secure a lower payment in the future if rates decline.

If UNO fails to secure more buildings and more students, the growing financial burden will likely have an adverse impact on its students as per - pupil classroom spending will suffer due to an increasing portion of the network's income being diverted to cover debt payments.

On the other hand, variable rate loans can be an affordable way to quickly pay off debt or secure a lower payment in the future if rates decline.

But if you convert them into secured debt and try to file for bankruptcy, your creditors can seize your house once you default on your payments.

They are also used by folks who need lower payments at the beginning of their proposal, to allow them to catch up on their secured debts (mortgage, cars, etc).

If you choose to reaffirm your secured debts in bankruptcy, you can continue making your mortgage payments, giving you an additional source of on - time payment history data.

So, if you can't pay all of your monthly payments, focus on your secured debt.

Chapter 13 allows you to repay secured debts, even if you're behind on payments, without having your property seized.

Monthly payments you will have to make on secured and priority debts.

Since secured loans, child support and alimony and some other debts can not be included in a bankruptcy, you will still need to make your regular payments on these obligations even if you declare bankruptcy.

On the negative side, the debt is secured by the home, so you can lose your home if you do not make the payments.

If a debtor does not reaffirm the debt, the amended Code allows a secured lender to repossess collateral, even if the debtor is current on payments.

Secured debts get their name from the fact that the loan is secured by collateral — the mortgage on your home, for example — that can be seized and sold by your creditors in the event that you default on your paSecured debts get their name from the fact that the loan is secured by collateral — the mortgage on your home, for example — that can be seized and sold by your creditors in the event that you default on your pasecured by collateral — the mortgage on your home, for example — that can be seized and sold by your creditors in the event that you default on your payments.

Lower the monthly payments and interest rates on debts, including secured debts such as car loans.

the disclosure of certain enumerated events affecting a municipal security; these events include the following, if material: (1) principal and interest payment delinquencies; (2) non-payment related defaults; (3) unscheduled draws on debt service reserves; (4) unscheduled draws on credit enhancements; (5) substitution of credit or liquidity providers; (6) adverse tax events affecting the tax - exempt status of the security; (7) modifications to rights of securities holders; (8) bond calls; (9) defeasances; (10) release, substitution, or sale of property securing repayment; (11) rating changes; (12) failure to provide annual financial information as required; the MSRB, Electronic Municipal Market Access (a.k.a. EMMA) provides free access to municipal disclosures, market data and education

Liens against collateral used to secure debt, like car loans and home mortgages, will not be discharged, and that property can be repossessed or foreclosed on unless you continue to make payments or are able to reach a new agreement with your lender.

If a consumer defaults on a secured loan, the collateral used to back the loan can legally be taken as payment for the outstanding debt.

(iii) The debtor's average monthly payments on account of secured debts shall be calculated as the sum of --

But because Chapter 13 involves a reorganization of your finances rather than a discharge of debts, it is the Plan payment that gets allocated first to any arrears due on a secured debt before anyone else gets paid.

Another sign that you have a secure financial future is when you are not missing out on debt payments.

Even though a counseling service can consolidate debt and secure a debt settlement, it is up to you to make the low single monthly payment on time.

If you'd prefer to get a lower interest rate on your debt, you may be able to use a home equity loan, but the loan will be secured, meaning the lender can foreclose on your home if you miss a payment.

You should always make payments on time but if you forget, the bank will just deduct the debt from your secured card.

Golden Financial Services recommends that you always set payments to be automatically debited each month for all of your debts including secured and unsecured bills, ensuring you are never late and your bills get paid on time.

Secured debt is debt that is secured by tangible property that your lender can take possession of to settle the debt if you default on your paSecured debt is debt that is secured by tangible property that your lender can take possession of to settle the debt if you default on your pasecured by tangible property that your lender can take possession of to settle the debt if you default on your payments.

For this reason, if you want to keep property that is collateral for a secured debt, you will need to catch up on the payments and continue to make them during and after bankruptcy, keep any required insurance, and you may want to reaffirm the debt if you file a chapter 7.

The most important factor a person should take into consideration when choosing a loan program whether it be an equity line of credit, a fixed rate home equity loan or something in between depends on your financial portfolio, how you believe your finances will change within the next five years, how long you plan to keep the house you are currently living in and how secure you feel with changing your mortgage payments and increasing your debt.

When you pay off your mortgage early, you also eliminate a monthly debt payment on your secured loan, freeing up your cash to put towards other things.

If a debtor's current net monthly income (based on the last six month's average), less one - sixtieth of secured payments and priority debts, less allowed expenses permitted by the IRS and certain other allowed expenses, is greater than $ 100 per month, the trustee or any creditor can request that you be required to file under Chapter 13.

Chapter 13 bankruptcy also may lower your monthly payments on other types of secured debts.

Secured debts are generally not allowed on DMPs, meaning you will still need to manage your mortgage and car payments separately.

If you are so far behind on your payments that you are afraid the lender will repossess the asset secured by your loan, and you fear that bankruptcy may be the ultimate result, re-negotiating the debt may be an alternative to bankruptcy.

Positive for Secured Debt: — Lower interest rates are on secured debts, such as your home and car loans — because creditors see you as a «low - risk» — since they have a guarantee of pSecured Debt: — Lower interest rates are on secured debts, such as your home and car loans — because creditors see you as a «low - risk» — since they have a guarantee of psecured debts, such as your home and car loans — because creditors see you as a «low - risk» — since they have a guarantee of payment.

With a secured debt, a piece of real property (such as an automobile or a home) is promised if the debtor can't finish making payments, or defaults, on the loan.

As you continue to make secured debt payments (i.e. mortgage, car loan, etc.) on time, your credit score will continue to improve.

On the downside, because the debt is secured by your home, your property is at risk if you fail to make the payments.

Keep in mind that if you have secured debts that you wish to keep, like a house or car, you will need to continue making payments on those debts moving forward.

Chapter 13 is typically chosen by people who have fallen behind on their secured debt payments and want to propose a plan to catch up on the payments over time and keep their property.

«charge» means a charge on land given for the purpose of securing the payment of a debt or the performance of an obligation, and includes a charge under the Land Titles Act and a mortgage, but does not include a rent charge; («charge»)

Any person who performs or furnishes labor or professional design or surveying services or furnishes materials or furnishes rental equipment pursuant to a contract, either express or implied, with the owner of real property for the making of an improvement thereon shall, upon complying with the provisions of this Article, have a right to file a claim of lien on real property on the real property to secure payment of all debts owing for labor done or professional design or surveying services or material furnished or equipment rented pursuant to the contract.