Sentences with phrase «regular payments to creditors»

Chapter 13 bankruptcy works by having filers make regular payments to creditors as part of a three - to five - year repayment plan.

Any time you stop making your regular payments to your creditors, your credit rating is going to be affected.

In contrast to debt management plans in which consumers make monthly payments to creditors, the debt settlement business model generally requires that a consumer stop making regular payments to creditors.

If you have made regular payments to all your creditors and have a stable employment history you're considered as a good risk.

A DMP is a good option for people who can afford to make regular payments to their creditors and want a hassle - free, easy way to pay.

The number of individual voluntary arrangements - in which people agree to make regular payments to creditors - is now at its highest level since 2005.

Todd Ossenfort: When debt collection makes your life miserable — A reader reduced a regular payment to her creditor by half and wants to know how much worse things are going to get... (See Credit card debt collectors)

Not exact matches

Credit reports are a compilation of information from credit bureaus, which are companies to which creditors report borrower payment history on a regular basis.

Credit reports are a compilation of information from credit bureaus, which are companies to which creditors report borrower payment history on a regular basis.

You should not accept any advice to ignore your regular payments to your existing creditors.

«When a consumer is unable to meet their regular monthly debt payments, our agency as well as other (accredited agencies), may establish a DMP to help the consumer manage and pay off their unsecured debt by having the consumer deposit a monthly payment into a (trust account) which, in turn, is distributed to their creditors,» Hannah says.

• You must have a regular income that will permit you to make the pre-determined payments to the trustee in bankruptcy who will distribute funds to your creditors.

Once you're signed up, the credit counselor will likely put you on a debt management plan through which you make regular monthly payments to them and they, in turn, send your payments to the creditor.

An exception to the payoff of a court ordered judgment may be made if the borrower has an agreement with the creditor to make regular and timely payments.

Once protected by the Orderly Payment of Debts program, a client will make regular monthly payments directly to Money Mentors, which is then disbursed to the client's creditors on a pro-rated basis.

The debt negotiation company does not make regular monthly payments to the consumer's creditors during the debt negotiation process either.

You need to be able to raise a lump sum to pay the creditors or be able to make regular payments from your income to your creditors.

The plan must include fixed payments on a regular schedule — typically biweekly or monthly — paid to the trustee who then distributes the funds to creditors according to the plan's terms.

Creditors are more likely to loan money to those who have an established history of using credit and making regular payments than those who have only used credit for a short time.

If you are still current with your payments creditors will expect you to continue to make your regular payments.

Essentially the debt relief company will negotiate on your behalf with your creditors to lower your overall debts in exchange of an agreement upon regular payments to be made.

Once existing creditors have been paid in full, all that remains is one regular payment to settle the loan.

Your payments distributor will contact your creditors and arrange to pay regular amounts to them for the period of time agreed in the debt payment programme.

DSA does not make regular monthly payments to your creditors.

To determine the monthly service fee, the provider must aggregate the number creditors in the plan — whether they are to receive regular payments or a one - time payment in settlement of the debt — and impose any per - creditor charge on that aggregate number (not to exceed a total of $ 50 in any monthTo determine the monthly service fee, the provider must aggregate the number creditors in the plan — whether they are to receive regular payments or a one - time payment in settlement of the debt — and impose any per - creditor charge on that aggregate number (not to exceed a total of $ 50 in any monthto receive regular payments or a one - time payment in settlement of the debt — and impose any per - creditor charge on that aggregate number (not to exceed a total of $ 50 in any monthto exceed a total of $ 50 in any month).

Debt settlement companies do not make regular monthly payments to your creditors.

The CFPB rule defines a «qualified mortgage» that is presumed to meet the ability to repay requirements as one «for which the «creditor» underwrites the loan, taking into account the monthly payment for mortgage - related obligations, using: The maximum interest rate that may apply during the first five years after the date on which the first regular periodic payment will be due.»

The MDCL operates on the same premise as a regular debt consolidation loan: take out one loan to pay off all unsecured debts, such as credit cards, medical bills, payday loans, etc. and make a single payment to one lender rather than multiple loan repayments to multiple creditors.

With a debt management plan, you make regular payments to the credit counseling company, and they make payments on your behalf to the creditors.

Make your regular (usually monthly) payments to the Licensed Insolvency Trustee, for distribution to your creditors.

About 37 percent, up from 34 percent in 2014, were filed under chapter 13, in which individuals who have regular income and debts below a statutory threshold make installment payments to creditors under court - confirmed plans.

GRT Financial, Inc. does not make regular monthly payments to your creditors.

Then, instead of making regular payments to multiple creditors and juggling bills and fees, you'll make one regular payment to a court - appointed trustee.

If scheduled variations in regular periodic payment amounts occur that are not caused by changes to the interest rate during the loan term, the creditor shall disclose that the loan product has a «Step Payment» fpayment amounts occur that are not caused by changes to the interest rate during the loan term, the creditor shall disclose that the loan product has a «Step Payment» fPayment» feature.

Credit reports are a compilation of information from credit bureaus, which are companies to which creditors report borrower payment history on a regular basis.