Sentences with phrase «same as the debtor»

But while the bankruptcy debtor's personal liability to pay a mortgage note or a car loan is discharged, just the same as the debtor's personal liability to pay a credit card account is discharged, the difference between the secured creditor and the unsecured creditor after discharge is significant.

Not exact matches

We remember other biblical texts written in the same vein: «Forgive us our debts, as we also have forgiven our debtors» (Matt.

This report (and the lack of noting timely payments) can create problems for borrowers / debtors who are seeking to refinance their mortgage loan - particularly if the borrower is seeking to refinance through the same mortgage carrier as had the mortgage at the time the bankruptcy case was filed.

If you have found yourself in the same business predicament as the debtor in our illustration and without the knowledge of what to do next, remember that bankruptcy laws are complicated, and common sense indicates you will need a bankruptcy lawyer in order to properly understand how these complex laws may apply in your situation.

As part of a Chapter 13 action, in which the court orders a repayment plan for the debtor to complete over several years, the second mortgage is stripped from the home and viewed in the same way as unsecured debt, such as credit card and medical billAs part of a Chapter 13 action, in which the court orders a repayment plan for the debtor to complete over several years, the second mortgage is stripped from the home and viewed in the same way as unsecured debt, such as credit card and medical billas unsecured debt, such as credit card and medical billas credit card and medical bills.

And as long as the proposal offers the creditors the same or more, it has to be more, it can't be less than what they would have got in a bankruptcy, it works out better for the debtor and the creditors.

The terms are usually the same as the purchase but sometimes the debtor can negotiate more favorable terms.

This gives the debtor the same benefit of immediate «debt relief» as in a Chapter 7 case.

While I think a bailout is just as unnecessary for taxpayers as it was for companies, I do think the government ought to consider extending the same benefits of public loans to private student loan debtors.

So in the example I wrote about in a hypothetical chapter 7 case, above, in the same case, but using chapter 13 as the vehicle to obtain a bankruptcy discharge, the chapter 13 debtor will need to pay $ 7500 over the lifetime of the chapter 13 plan in order to pay all unsecured debt and obtain a discharge.

If the court makes such an order, requiring the supply either on the same terms as were offered to the debtor prior to the CCAA filing or on terms determined by the court, then a charge over the property of the debtor is granted in favour of the critical supplier.

2 Payment of interest or partial performance of an obligation by the debtor shall have the same effect as an acknowledgement under paragraph (1) of this article if it can reasonably be inferred from such payment or performance that the debtor acknowledges that obligation.