Sentences with phrase «remaining debt discharged»

The remaining debt discharged, no matter how large or small, is tax exempt.

Not exact matches

Though a successful Chapter 7 petition will discharge your debts, it will remain on your credit report for as long as 10 years, affecting your ability to borrow.

At the end of Chapter 13, the debt you have remaining is typically discharged.

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

In Chapter 7, nonexempt assets (set on state level) are liquidated and any remaining IRS tax debts are discharged unless qualifications are not met.

• Chapter 7 Bankruptcy — Also known as a liquidation bankruptcy, a Chapter 7 bankruptcy will discharge most debts in a few months after filing, but the record of the bankruptcy itself usually remains active on a credit report for 10 years.

A new public service loan forgiveness program will discharge the remaining debt after 10 years of full - time employment in public service.

For instance if your plan only provides for payments of 10 % of the unsecured debt, then the remaining 90 % plus any accrued interest will be discharged or dismissed upon completion of your plan.

While both discharge and forgiveness involve cancellation of the remaining debt, discharges usually occur for circumstances beyond the borrower's control and forgiveness for circumstances within the borrower's control.

Similar to language on the federal student aid website, articles like this one in SF Chronicle explain that «if you qualify [for closed - school discharge, for example], your remaining debt will be forgiven and you will be reimbursed for loan payments already made.»

If you complete the bankruptcy repayment plan (after 3 - 5 years), the remaining debt (other than taxes) will be discharged.

In this type of bankruptcy, generally the courts allow you to repay a portion of your debt over three to five years, and the remaining debt is discharged.

After three to five years, your remaining debt will be discharged and you are essentially debt - free, aside from any child support, alimony, some taxes, and student loans.

The plan will last for three to five years and at the end of it, your remaining unsecured debt is discharged.

Your repayment plan will continue for a period of 3 - 5 years (depending on the individual circumstances of your case) and at the end of your repayment period, any remaining unsecured debt you have left is discharged — erased, eliminated, wiped away — forever!

It is possible to file a Chapter 13 bankruptcy after a Chapter 7 is completed, allowing you to seek a reduction in whatever debts remain from a Chapter 7 discharge.

(Note: My personal debts were discharged — the student loan remained to be dealt with)

If the court finds you violated one of the following provisions, you will not receive a discharge of your Chapter 7 bankruptcy and all of your debts will remain in place, and you won't begin working to rebuild your credit.

At the end of the payment plan, your remaining debts are discharged, unless you've reaffirmed (promised to pay) your secured debts and received the approval of your bankruptcy judge.

You make the payments for the required time and at the end of the plan, the remaining unsecured debt is discharged.

In bankruptcy, the general rule is that debts are discharged while liens remain intact.

The Public Service Loan Forgiveness program discharges any remaining debt after 10 years of full - time employment in public service.

Dischargeable, unsecured debts which remain after the liquidation of the assets are generally discharged.

At the end of the repayment period, the remaining debt you owe may be discharged.

Plus, once you complete your Chapter 13 plan, the remaining unsecured debts will be discharged and you will not be required to treat the discharged balances as income.

The remaining unsecured debts may be discharged upon completion of the plan.

Defendant, U.S. Department of Education, agrees to discharge the smaller debt, currently at $ 22,142.34, provided that Plaintiff meets the remaining terms of this Stipulation for Consent Judgment.

At the end of the process, the remaining debt will be discharged and you will start with a clean slate.

After successfully completing your repayment period, your remaining debt will be discharged.

Another issue is that discharged debts remain on your credit report for 7 years after they are discharged.

If you filed a Chapter 13, your payment plan is confirmed after the meeting of the creditors and you make your payments for the duration of your payment plan, after which, the remaining balances on your dischargeable debt is discharged.

In a Chapter 13 bankruptcy, the medical bills are included in the unsecured debts and a percentage of the amount owed gets paid; the remaining balance gets discharged when the case is completed.

However, even though decisions like Fecek demonstrate that courts may be willing to allow a debtor (even one with a good salary) to at least partially discharge his student loan debt, they does not provide a windfall for the debtors because, like the debtor Fecek, the debtor will still have to make sacrifices to make large monthly payments towards the remaining student loan debt.

While a Chapter 13 can still result in a discharge of some unsecured debt, you may be required to make payments on your unsecured debt over a 3 or 5 year term before discharging the remaining balance of your unsecured financial obligations.

A business owner who is generating revenue of $ 200,000 per month but with the bulk of his or her debt in the form of financial obligations for the business will be exempt from the Chapter 7 means test and remain eligible to a Chapter 7 discharge.

At the end of the process, your remaining unsecured debt is «discharged,» which means it's forgiven.

A debtor in a Chapter 13 case may be able to restructure bill payments into a more manageable schedule, and possibly discharge some remaining debts.

It doesn't matter what the order of priority is; it doesn't matter whether the underlying debt is subject to a discharge if it remains unpaid at the end of a chapter 7 case.

Following successful completion of your customized, three - or five - year plan, your remaining unsecured debt will be discharged.

A bankruptcy court can give your ex-spouse a discharge, or elimination, of debts that remain unpaid because there are not enough assets to cover them.

Any remaining debt is discharged by the bankruptcy court.