Sentences with phrase «payments under their bankruptcy»

For Chapter 13 Bankruptcy, vehicles may be kept as long as the debtor makes the necessary payments under their bankruptcy payment plan.

Sometimes, this can be referred to as a «mini Chapter 11 ″ because you typically repay something to your creditors and retain your property and make payments under a bankruptcy plan.

Not exact matches

It lets people borrow and max out their credit cards until people must either declare bankruptcy or live forever under the weight of interest payments and out of control debt.

The ASBCS began an intent to revoke StarShine's charter on March 20, 2018, after notice under Chapter 11 bankruptcy proceedings of failure to make payments and possible fraud by the United States Trustee in the Department of Justice (StarShine declared bankruptcy in February 2016).

Default risk is the possibility that a company declares bankruptcy or a municipality becomes insolvent, and can not pay in a timely manner the principal and interest payment it owes under a bond indenture.

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA mortgage provided the lender documents that one year of the payout period under the bankruptcy has elapsed and the borrower's payment performance has been satisfactory (i.e., all required payments made on time).

If you are divorcing, have a previous foreclosure, or bankruptcy under your belt, or if you have a great credit score but not a lot to use for a down payment, the FHA is the best route.

Under most circumstances, student loans aren't discharged in bankruptcy proceedings, which gives you an immediate opportunity to establish a post-bankruptcy history of on - time payments by making your student loan payments on time and in full each month.

For Chapter 13, the requirement is that the bankruptcy was «discharged prior to loan application and all required bankruptcy payments were made on - time, or a minimum of 12 months of the pay - out period under the bankruptcy has elapsed and all required bankruptcy payments were made on time.»

All good ways to manage student loan payments under hardship, but it would be better if the worst - off of us could discharge student loan debt through bankruptcy...

Under bankruptcy law, debtors who owe more money than they can afford can either eliminate some (or all) of their debts or work out a payment plan to pay a portion (or all) of their debts over time.

In a personal bankruptcy in Ontario, you must assign all your assets to the trustee, except for exempt property (such as basic furniture, tools - of - trade and, under certain circumstances, the goods and services tax credit payments).

Under a Chapter 13 bankruptcy, you'll be required to make monthly payments for generally three to five years.

The loans are maintained in a bankruptcy - remote entity, which means that if the website goes under, the loan payments should continue to be serviced and principal / interest paid to me by the remote entity.

This means at the latest, your final IPA payment will be just under four years after the date of your bankruptcy order.

... 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.

Under Chapter 13 Bankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incomBankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incombankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - income formula.

The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.

Bankruptcies, judgements, tax liens, accounts in collections and accounts with delinquencies or late payments will be listed on your report, either together under «negative items» or under separate headings.

Default.The Bank may without prior notice, declare the total balance due immediately on your Account and apply all or part of your Deposit Account to the payment of that balance if: (a) you fail to make any payment due; (b) exceed your credit limit; (c) default under the terms of your Agreement; (d) your Account is closed by you or by us; (e) the Cardholder dies; (f) any government authority takes action the Bank believes will adversely affect your ability to pay; or (g) you file a petition for bankruptcy.

It now appears that the future may cause those individuals faced with large and difficult to pay student loans to similarly use a Chapter 13 bankruptcy as a tool for bringing their student loan debt under control, as well as to obtain a monthly payment which they can afford to pay each and every month.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

Consumer Proposals under the Bankruptcy and Insolvency Act require payment toward your unsecured debts but not the full payment amount.

In simple Chapter 7 bankruptcies, which are resolved quickly, a bankruptcy attorney's fees are often under $ 1,500 and many bankruptcy attorneys offer payment plans.

Since a mortgage is still secured by your home under either a Chapter 7 or Chapter 13 bankruptcy, and regardless of whether you are legally separated from your spouse or not, if you want to keep your home, someone has to continue to make the mortgage payments.

For purposes of the means test, the U.S. Bankruptcy Code defines current monthly income as including: «any amount paid by any entity other than the debtor (or in a joint case the debtor and the debtor's spouse), on a regular basis for the household expenses of the debtor or the debtor's dependents (and in a joint case the debtor's spouse if not otherwise a dependent)...» Benefits received under the Social Security Act, payments to victims of war crimes or crimes against humanity on account of their status as victims of such crimes, and payments to victims of international terrorism or domestic terrorism on account of their status as victims of such terrorism are excluded from the means test.

You do have to make bankruptcy payments as part of the cost of bankruptcy however in most cases these are less than the minimum payments you are struggling under today.

If you are in financial distress, and can not meet your debt obligations temporarily; but has a regular income, to possibly pay your loans under a more lenient payment plan; then, Chapter 13 of the United States Bankruptcy Code, codified under Title 11 of the United States Code is ideal for you to pursue.

Under current bankruptcy laws, a borrower can ask the court to work out a new payment schedule for all debts except a primary mortgage.

A protected trust deed prevents you from applying for your own bankruptcy or for a debt payment program under the Debt Arrangement Scheme.

Under Chapter 13 bankruptcy, you have different payment options.

A meeting with our North York bankruptcy trustee quickly confirmed that if they could get this debt under control they could keep up with the mortgage payments and still help their children finish school.

The Ninth Circuit considered a case that left a debtor with a $ 68 monthly payment on the undischarged portion, based on the bankruptcy court's finding that a monthly 401 (k) contribution of $ 68 was not «reasonably necessary» to the debtor's «minimal standard of living» under Brunner.

You no longer need to make payments to your creditors (though you will have to make payments to the bankruptcy trustee under a Chapter 13 bankruptcy) and your creditors will no longer be permitted to contact you.

If you're over the government guideline there are additional payments due into the bankruptcy, if you're under the government guideline, there are not.

However, by getting your unsecured debts under control with a consumer proposal or bankruptcy, you are likely in a much better position to afford the mortgage and car payments going forward.

The primary consumer protection problem areas that have given rise to the States» actions include: (1) unsubstantiated claims of consumer savings; (2) deceptive representations about the length of time necessary to complete a debt relief program; (3) misleading or failing to adequately inform consumers that they will be subject to continued collection efforts, including lawsuits, and that their account balances will increase due to extended nonpayment under the program; (4) deceptive disparagement of consumer credit counseling; (5) deceptive disparagement of bankruptcy as an alternative for debtors; (6) lack of screening and analysis to determine suitability of debt relief programs for individual debtors; (7) the collection of substantial up - front fees so the debt relief company gains even if it fails to perform; (8) lack of transparency and information for consumers as to payment of fees, status of accounts, and communications with creditors; (9) significant delays in active negotiation or engagement with creditors, coupled with prohibitions on direct consumer communications with creditors; and (10), in the case of debt settlement companies, basing savings claims (and settlement fees) not on the original account balance, but on the inflated amount due (including late fees and default rates of interest) at the time of settlement.

Debts which are not eligible for discharge are listed under the Bankruptcy Code 11 U.S.C. § 523 and include fraudulent Actions, student loans (unless payment will impose an «undue hardship» to such an extent that the debtor will not be able to maintain even a minimal living standard), child and spousal support, current tax obligations, and debts from willful and malicious injuries to persons or property or debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs.

And be sure to keep all your records organized and complete — banks and student loan centres don't tend to communicate well with one another, and you will want to have proof that your loan payments were made and that the resulting credit debt was discharged under your bankruptcy.

Warning: Creditors, including mortgage holders and mortgage servicers, who willfully fail to credit payments received under a confirmed bankruptcy plan may be in violation of the bankruptcy discharge injunction.

We structured a settlement of both cases in which the assets under attachment by our client would be used to fund the bankruptcy plan, resulting in payment in full to our client on its settled claim.

«The court will retain jurisdiction to enforce payment of debt obligations, in the event a party files bankruptcy, including, but not limited to, the ability to determine the debt assigned is in the nature of Maintenance, necessity or support and is therefore non dischargeable in bankruptcy, and / or making a future spousal support order, regardless of the spousal support order set forth below under FOURTH: SPOUSAL SUPPORT.»

Under the WEPPA, if an eligible individual receives a WEPP payment by the Crown for unpaid wages, the Crown is subrogated to the claims to which that employee is entitled under the Bankruptcy and Insolvency Act (RSC 1985, c B - 3, ss 81.3 - 81.4, «BIA&raqUnder the WEPPA, if an eligible individual receives a WEPP payment by the Crown for unpaid wages, the Crown is subrogated to the claims to which that employee is entitled under the Bankruptcy and Insolvency Act (RSC 1985, c B - 3, ss 81.3 - 81.4, «BIA&raqunder the Bankruptcy and Insolvency Act (RSC 1985, c B - 3, ss 81.3 - 81.4, «BIA»).

The Wage Earner Protection Program (WEPP) under the Bankruptcy and Insolvency Act provides guaranteed and timely payment of unpaid wages, vacation pay (on or after July 7, 2008), as well as unpaid severance and termination pay to eligible workers (on or after January 27, 2009) whose employers go bankrupt or are in receivership, up to an amount equalling four weeks maximum insurable earnings under the Employment Insurance (EI) Act (currently about $ 3,000).

By following a 3 - 5 year repayment plan, filing bankruptcy under Chapter 13 may give you the chance to catch up on late payments while keeping on top of current payments.

We can employ decades of proven success to help your company recover payment under the unique structure of the federal bankruptcy courts.

For people who have fallen behind on their bills but have regular income, filing bankruptcy under Chapter 13 may allow the breathing room they need to get back on track with their payments and keep their property.

If you're struggling to pay your bills each month, filing for bankruptcy under Chapter 13 may allow to you get back on track by reorganizing your debts into one affordable monthly payment.

In the event of a counterparty bankruptcy, our team is experienced at guiding clients through each step of the process for terminating and valuing the settlement payments under such contracts.

The insolvency or bankruptcy of insured does not release the insurer from payment of liability or property damages to a third party for loss sustained under the policy, and an injured person may bring action against insurer directly if insured is insolvent.