While setting up the budget, be sure that you are calculating
provisions for debt repayment, a rainy day savings account and a healthy retirement.
Not exact matches
The
provisions of Chapter 11 of the U.S. Bankruptcy Code allow businesses to find ways to reduce their
debt and restructure their operations without having to be shut down and liquidated to satisfy
debts — instead of closing their doors, businesses can stay open, pay their employees, and take in revenue while developing a budget and a
repayment plan
for creditors (subject to the approval of the bankruptcy court).
Regarding how the UK authorities plan to remedy this situation in the future, the SLC representative said this: «Government's
repayment strategy will boost SLC's capability to trace noncompliant borrowers, pursue and recover outstanding student loan
debt, and it also includes the
provision for the potential use of a number of sanctions.»
And while AccessLex Institute agrees that income - driven
repayment plans should be simplified, the proposed bill would eliminate a
provision that allows borrowers to have part of their
debt forgiven after making payments
for 20 or 25 years, ensuring
for many financially - challenged, and even insolvent borrowers, a literal lifetime of
debt given the effective nondischargability of student loans in bankruptcy proceedings.