Sentences with phrase «property of the debtor»

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.

A typical Chapter Thirteen petition would include a repayment plan that lasts up to five years, and is funded by both the debtor's wages, and by the sale of property of the debtor if applicable.

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.

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.

Lien is the right of a lending agency to claim the property of a debtor in the case of a defaulted loan.

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.

All property of the debtors is 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.

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

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

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

Bankruptcy petitions are among the few processes designed to protect the property of debtors, and they can be abused like any other process.

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.