Sentences with phrase «property of a debtor»

Income tax refunds are property of a debtor's bankruptcy estate to the extent they are derived from withholdings from the pre-petition earnings of the debtor.

The Bankruptcy Code sweeps up all property of a debtor into a pot for creditors, even property received through inheritance at any time before and up to 180 days after a bankruptcy filing.

Exemption laws have been enacted by every state as well as the federal government to protect the property of debtors against the claims of judgment creditors and, once a bankruptcy case is filed, the trustee.

c) In cases not coming within paragraph (a) or (b), where the greater portion of the property of the debtor is situated.

A creditor has the property of a debtor repossessed by a repo - man when a debtor defaults on a secured note.

Once filed, the property of the debtor is given to a Licensed Insolvency Trustee who then sells it and distributes the money among the debtor's creditors in settlement of the debt.

Once filed, the property of the debtor is given to a Licensed Insolvency Trustee who then sells it... Read more»

All property of the debtors becomes property of the bankruptcy estate and can not be divided up in any property settlement until either the bankruptcy is over or permission is received from the bankruptcy judge.

In general legal terms, a lien is the right to take and hold or sell the property of a debtor as security or payment for a debt or duty.

lien [top] The right to take and hold or sell the property of a debtor as security or payment for a debt or duty.

It's true your miles may be protected as exempt property and not considered property of the debtor, he says, based on how the certificate reads.

Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors.

Garnishment: A legal proceeding in which a creditor seeks to obtain payment from a debtor out of money, salary, or property of the debtor.

Such are cases commenced by attachment against the property of debtors, or instituted to partition real estate, foreclose a mortgage, or enforce a lien.

A trustee is a court appointed attorney who manages the property of the debtor for the principal benefit of the unsecured creditors.

While a charge over the property of the debtor is a useful remedy for a foreign supplier, it only covers post-filing amounts owed; full payment is obviously preferable.

If the court makes such an order, requiring the supply either on the same terms as were offered to the debtor prior to the CCAA filing or on terms determined by the court, then a charge over the property of the debtor is granted in favour of the critical supplier.

Liens Unpaid debts can lead some businesses to place liens on the property of the debtors, which may have to be paid before a home can be sold.

The court determined that the funds would not have «absolutely» become the property of the Debtors through the passage of time.

Not exact matches

So the debts ultimately either are paid by the government, or they're paid by a huge transfer of property from debtors to creditors — or, the debts are written off.

But their agenda is to make the economic polarization between creditors and debtors irreversible, ushering in a Dark Age of austerity and deepening debt peonage in which wages, profits and property rents are earmarked to pay interest — on loans that can't be paid in a shrinking economy.

This fig leaf of humanitarian concern for debtors enables the government to provide public credit that ends up in the hands of the super-rich who own and manage the financial and property sector.

The parables disclose with what pleasure and tolerance he surveyed the broad scene of human activity: the merchant seeking pearls; the farmer sowing his fields; the real - estate man trying to buy a piece of land in which he had secret reason to believe a treasure lay buried; the dishonest secretary, who had been given notice, making friends against the evil day among his employer's debtors by reducing their obligations; the five young women sleeping with lamps burning while the bridegroom tarried and unable to attend the marriage because their sisters who had had foresight enough to bring additional oil refused to lend them any; the rich man whose guests for dinner all made excuses; the man comfortably in bed with his children who gets up at midnight to help his importunate neighbor only because he despairs of getting rid of him otherwise; the king who is out to capture a city; the man who built his house upon the sand and lost it in the first storm of wind and rain; the queer employer who pays all of his men the same wage whether they have worked the whole day or a single hour; the great lord who going to a distant land entrusts his property to his three servants and judges them by the success of their investments when he returns; the shepherd whose sheep falls into a ditch; the woman with ten pieces of silver who, losing one, lights the candle and sweeps diligently till she finds it, and makes the finding of it the occasion of a celebration in which all of her neighbors are invited to share — and how long such a list might be!

The purpose of such exemptions is to permit debtors in bankruptcy to retain a modest amount of personal property and equity in their homes so that they can continue to maintain their lives, and to protect them from becoming homeless, unemployed, or otherwise dependent on the State.

The filed Judgment is a LIEN against any / all real property owned by the DEBTOR and located in Erie County, for a period of 10 years from date of entry of judgment in the original court.

If the DEBTOR fails to pay within 30 days of the date of judgment date (and files no appeal), the CREDITOR may request a SHERIFF»S EXECUTION from the COUNTY CLERK»S OFFICE giving the Sheriff's Department full authority to seize money or property as payment toward the Judgment.

Exemptions: A list of property that bankruptcy debtors are allowed to keep.

Chapter 13, Adjustment of Debts of an Individual with Regular Income, provides for adjustment of debts of an individual with regular income by allowing the debtor to keep his property and pay his debts over time, usually three to five years.

According to Webster's dictionary, a lien is a legal claim that someone or something has on the property of another person until the debtor pays back what he or she owes.

If you choose to lease solar panels, you will be expected to provide the lender with a copy of the solar lease, as well as termination of the UCC filing, a legal form giving notice that a creditor has an interest in the debtor's personal property.

Most Chapter 7 debtors surrender little or no property in bankruptcy and walk away with a discharge of all their unsecured debts.

When a Chapter 7 case is filed, all of the debtor's property is temporarily under supervision of the bankruptcy court and a case trustee.

In addition to the protection afforded to homestead property in Arizona, Debtors can exempt one car with $ 6,000 of equity or $ 12,000 of equity if the debtor is currently disabled.

If there is a purchase without the cancellation of the outstanding mortgage, the debtor keeps owing the remaining of the mortgage balance to the lender and the property keeps being tied as collateral of the loan.

A chapter 13 case may be advantageous in that the debtor is allowed to get caught up on mortgages or car loans without the threat of foreclosure or repossession, and is allowed to keep both exempt and nonexempt property.

Those categories include debts for alimony and child support; money obtained through filing false financial statements; debts for willful and malicious injury to person or property; debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated; and debts from fraud or defalcation while acting in a fiduciary capacity, embezzlement or larceny.

If the IRS has attached a tax lien to the debtor's property they can seize the debtor's property or wait until the property is sold and get payment from the proceeds of the sale.

... 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.

A debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

Exemptions are laws that allow a debtor to keep, and not part with, certain types and amounts of money and property.

Filing Chapter 7 or Chapter 13 Bankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal support.

A list of the debtor's property, as well as an accounting of all contracts and leases in the debtor's name

Chapter 13 bankruptcy allows debtors the option of paying out the value of non-exempt property to their creditors over time while slashing credit card debt and other unsecured debt.

One common ground for denying a discharge is when the debtor — with intent to hinder, delay, or defraud a creditor — transfers, removes, destroys, mutilates, or conceals property within one year before the date of filing for bankruptcy or any time after the date of filing.

When debtors begins to consider bankruptcy, it usually doesn't take too long for them to discover that Chapter 13 offers many of the same protections and debt relief of other bankruptcies, without requiring those who owe to get rid of all their property.

Some advantages bankruptcy protection might offer a bankrupt debtor is that you can obtain an automatic stay which means the mere request for bankruptcy protection automatically stops and brings to a cessation certain lawsuits, foreclosures, utility shut - offs, evictions, repossessions, garnishments, attachments, and debt collection harassment, filing might save your home, you can reschedule secured debts, you can receive protection for co-debtors you can keep all non-exempt property, you can consolidate all your loans under one plan, all or part of your loans may be completely forgiven, and you can extend certain tax obligations, student loans, or other such qualifying debts.

Whereas the filing debtor in this illustration can claim the $ 27,871 for their homestead, they will be allowed under the federal exemption guidelines to use only $ 10,825 of the unused money for the second property.

In a Chapter 7 bankruptcy, most or all of debtor's unsecured debts are wiped out and, at the same time, in most cases, the debtor will be able to keep their property, rather than losing everything they own.

Certain other dissolution related obligations, such as payments to others, hold harmless provisions and property settlement obligations, are not dischargeable if the debtor has the ability to pay them and the detriment to the spouse outweighs the benefit of the discharge to the debtor.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»