Sentences with phrase «property on bankruptcy»

Not exact matches

April 5 - U.S. fashion footwear company Nine West Holdings Inc intends to file for bankruptcy as soon as this week with a plan to sell the intellectual property of its flagship brand to Authentic Brands Group LLC, people familiar with the matter said on Thursday.

Documents filed in a Richmond, Va. bankruptcy court on Monday revealed the retailer will be cancelling an auction for its 82 Canadian stores and seeking approval on Tuesday to sell them to Toronto - based Fairfax Financial Holdings Ltd., which is involved in property and casualty insurance and reinsurance and investment management.

August: To avert bankruptcy, the state of California levies a property tax on vineyards in Oregon.

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.

Many residents of the Park have been brought to the brink of bankruptcy or spend their lives trying to build on their property.

KENSINGTON, BROOKLYN — The city is closing in on a deal to buy Kensington Stables, save the property from bankruptcy and keep it as a horse stable in the neighborhood.

The Indian Creek Local School District, which serves Mingo Junction and Wintersville in eastern Ohio, fell on hard times this year when its largest corporate taxpayer, the Wheeling - Pittsburgh Steel Company, filed for bankruptcy and failed to pay its property taxes, said Joseph Aguiar, the district superintendent.

I either see bankruptcy or massive, massive property tax hikes on the people of Chicago,» Rauner said Monday.

(Bankruptcy does not, however, automatically eliminate mortgages and other liens on your property without payment.)

You may not file under any chapter if within the preceding 180 days you had a prior bankruptcy petition dismissed due to your willful failure to appear before the court or comply with court orders, or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property on which they hold liens.

Your bankruptcy discharge will eliminate your personal liability on most secured debts, but liens on your property will remain.

Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the creditor).

If you don't make your payments on that debt, the creditor may be able to take and sell the home or the property during or after the bankruptcy case.

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Before we get into how Chapter 7 bankruptcy will help you keep your property and pay pennies on the dollar for your debt, you'll want to know if you're eligible to file for this chapter of bankruptcy protection.

Under the Chapter 7, the bankruptcy court orders an appointed case trustee to sell your properties and distribute the proceeds to your creditors based on the priorities established in the Code.

Since in this liquidation bankruptcy your creditors can stake claim on your properties, make sure that you don't have assets that are valuable enough for the creditors to file against.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

1) Seller takes out a home equity loan on the property 2) Decides to sell the house to another person 3) Files for bankruptcy protection (if he does makes sure he excludes the property) If the seller has a current mortgage on the house we recommend financing the property in your name with a lender within two years.

A bankruptcy can last on your credit report for several years, but it's worth pursuing bankruptcy protection for those who feel like their debt has gotten out of control but they want to keep their property.

In situations where a borrower is underwater on their mortgage, the amount of the debt that exceeds their property value is treated under the Bankruptcy Code as unsecured, often paid at much less than 100 % under the terms of a chapter 13 plan.

Even transferring a property out of your name into someone else's name can not protect the property from the bankruptcy process, as the courts consider a transfer a «deemed disposition» — in other words, the property was as good as sold, and even if no money changes hands, the theoretical sale price will be determined based on the fair market value of the home.

Though bankruptcy can help you restructure or cancel most personal loans, the nonprofit organization Legal Action of Wisconsin notes that you may lose personal property, face forced repayment under court supervision, and carry a record of your bankruptcy on your credit report for seven years.

Bad credit personal loans can also be availed by people who are on the verge of bankruptcy, or who have experienced foreclosure on their property, apart from those with a bad credit history.

Filing for bankruptcy will place an automatic «stay» on your assets / property and stop you from losing them.

Those that have bad credit or recent foreclosures and bankruptcies on their record enjoy easy approval terms as our loans are based on the equity of the property in question.

In those cases — and if you are current on payments — you can surrender the property to pay off creditors; reaffirm the debt and continue to pay it after the bankruptcy; or redeem it by paying the creditor the replacement value of the property.

If, on the other hand, you're one of the millions of Americans who find themselves underwater on their home values, and your mortgage has become a financial albatross that you can no longer afford to carry, filing for bankruptcy gives you the right to surrender the property and walk away with no liability for a deficiency judgment.

Now after the bankruptcy has closed, the creditor is filing a lien on the property for its security on the debt.

... 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.

If there is a creditor who holds a second mortgage on a property and has not filed a lien, there is the likelihood that a bankruptcy court will require the creditor to file a proof of claim, and the debt will be treated like an unsecured claim.

If the consumer is behind on his house payment, even if the home is already in foreclosure, or if a car has been repossessed, or is about to be repossessed, then a chapter 13 bankruptcy will allow that consumer 36 to 60 months to catch up the missed payments and keep the property.

But a bankruptcy discharge doesn't eliminate the lien on the property.

It is important to consult with a knowledgable bankruptcy attorney in order to determine the effect that your state's exemption laws will have on you and your property.

Canadian bankruptcy law discharges all tax debt universally, unless the Canada Revenue Agency has taken steps to secure it (a lien on a property) or in the case of fraud or tax evasion.

When searching for residency exemptions, I mainly came across bankruptcy homestead exemption and exemptions on property taxes for seniors.

The law establishes limits on wealth, income and property for Chapter 7 bankruptcy.

We previously discussed the Petition and the next stop on our journey through the Bankruptcy Petition and Schedules is Schedule A. Schedule A is where you are going to list all of your real property.

In either bankruptcy filed, the debtor is required to fill out personal asset schedules on the property they own.

In case you can no longer afford the property that you have purchased and bankruptcy is threatening your life, hard money lenders can help you with private loan with deflated rate so you can pay more of the principal back on property.

The person declaring bankruptcy would need to include the property in the list off their assets on the appropriate bankruptcy paperwork.

Keenan does say that there are some exceptions to this general rule: «You may be able to discharge property taxes due on real property that you lose to foreclosure, or as a result of the bankruptcy.»

Read on to find out what you should consider if a quitclaim transfer of property has occurred (or you are wanting it to occur) just before you declare bankruptcy.

On top of that, the property the creditor has targeted to seize may have state or federal exemptions protecting the asset in a bankruptcy case.

The Howard Hughes Company (HHC): I wasn't really following the General Growth Property bankruptcy saga primarily because I don't do distressed debt but also because it seemed far too complex a situation and many better minds that mine were focused on it.

This information may include judgments, bankruptcies, tax liens, wage attachments and notice of default on properties.

Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

But a Chapter 7 bankruptcy discharge doesn't eliminate the lien on the property.

If you are filing for bankruptcy but want to keep property used as collateral in a secured loan, consult with a professional bankruptcy expert on what type of bankruptcy to file and what the terms should be.

Depending on whether or not you live in a community property state will determine how you divide up your assets when filing bankruptcy separately from your spouse, but when filing bankruptcy jointly with your spouse, there is really no need to divide up your assets.