Sentences with phrase «repay unsecured creditors»
Specifically, if the debtor's current monthly income for the six - months prior to filing bankruptcy is more than the statutory minimum then it's assumed that the debtor has enough extra money to repay unsecured creditors, thus eliminating their right to file Chapter 7 bankruptcy.
http://www.betterbankruptcy.com/ Not exact matches
Credit counselling agencies contact creditors and negotiate a DMP to fully repay your unsecured debts over a period of up to five years.
Bitcoin mining company CoinTerra filed for bankruptcy in January, saying it would be unable to repay unsecured investors and naming hundreds of creditors in its filing.
When the loans for bad credit are unsecured, it means that all you need to do is assure the creditors that you will repay the money by simply signing a document.
If you default on your loan from an unsecured creditor, the creditor can't seize any collateral to repay the debt.
An unsecured creditor takes on more risk than a secured creditor because it does not have the ability to seize an asset right away if a borrower fails to repay the debt.
It doesn't matter how much your contracted unsecured monthly debt repayments are, this is the amount your IP has calculated you can afford to repay and assuming your creditors agree to your proposal, this is the only amount you'll ever be asked to pay.
Unsecured debts are also available from creditors, but unlike Secured Debt, unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the Unsecured debts are also available from creditors, but unlike Secured Debt, unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the creditor.
These are guidelines only, but suggest that creditors consider writing off unsecured debts when mental health conditions are long - term and there is little chance of the debt being repaid.
The percentage of repayable unsecured debt you have to repay must be at least equivalent to what creditors would receive in a Chapter 7 bankruptcy.
During these pitch calls, the Enrollment Specialists tell consumers that Defendants» network of attorneys will negotiate settlements of their unsecured debts with creditors so consumers will be able to repay the debt for less than what is owed.
Consumer Proposal: a consumer proposal is an arrangement you make with your unsecured creditors to repay a portion of you debt usually through monthly payments over a period of up to 5 years.
The settlement, which comes less than three months after the firm declared bankruptcy, is designed to help repay creditors owed some $ 250m (# 159m) in secured debt and at least $ 300m (# 190m) more in unsecured claims.
Advising the administrators of Universal Engineering Limited, a specialist engineering company involved in the production of equipment used in deep sea oil drilling, in the realisation of key physical and real estate assets in order to repay secured and unsecured creditors.
Proceeds will be used to repay senior debt to Philadelphia - based BET Associates LP and to repurchase the Manhattan Bagel Company Unsecured Creditors Trust note at an $ 850,000 discount.