Sentences with phrase «seized by your creditors»

Entrepreneurs like limited liability companies because they protect owners from having their personal assets seized by creditors of the business.

Remember though, if you default on a secured loan then the assets or asset class you used as a security could be seized by the creditor in a Court procedure that could also put your company out of business, so there is some element of risk to consider with asset - based financing.

These assets can be seized by the creditor to recover the outstanding balance of the loan.

IRAs, Roth IRS, SEP and Simple IRAs, Keogh plans, 401 (k) accounts and pension plans are exempt, so they can't be seized by creditors or a bankruptcy trustee.

This option is more ideal than having your remaining assets seized by creditors for their benefit.

Therefore, for secured debts such as home mortgages or car loans, you must continue paying your secured creditors, or the asset may be seized by your creditor.

Thankfully, with Chapter 13 bankruptcy you can keep your home from being seized by creditors.

Chapter 7 Bankruptcy will discharge personal, unsecured loans if they are for credit extensions which were based on the creditor's evaluation of the debtor's ability to pay and there is no collateral which can be seized by the creditor if the debtor defaults on the loan due to their inability to pay.

If you are behind on your mortgage payments or car loan you are still at risk of having these assets seized by your creditors.

It's important to know what assets can and can not be seized by creditors.

Leonov disagreed, stating that despite the murky legal status of cryptocurrencies in Russia, there is no reason for it not to be included in the group of assets which can be seized by a creditor.

Not exact matches

Medical bills you incur aren't secured by your property and thus your creditors can not seize your car, home or other assets should you fail to pay what you owe.

If you can not pay the debt, then the creditor can collect the debt by garnishing your wages, filing a lien against your home, filing a lien against your investment property, or seizing the funds in your bank account with a bank levy.

Secured debts get their name from the fact that the loan is secured by collateral — the mortgage on your home, for example — that can be seized and sold by your creditors in the event that you default on your payments.

And social security or other government benefits (beyond $ 9,000 p / y) may be seized to repay government student loans, under a 1996 law upheld by the Supreme Court in 2005 But if the student loans are strictly private, not guaranteed by the government, then the lender can only use the collection options available to any creditor.

My question is this: if I file Ch 7, and then «win» this civil case and get a $ 80,000 (or more) in a settlement, will that settlement be seized by all my creditors (both consumer credit and Sallie Mae / Navient)?

At least one ship has already been seized for unpaid fuel debts, off of the coast of Long Beach California; this seizure came after a Federal bankruptcy judge ruled that the Hanjin ships could be seized by United States creditors.

Under Chapter 7 bankruptcy law, certain assets may be seized by the bankruptcy court in order to pay creditors.

A decision from the Wisconsin Supreme Court establishing the right of an unsecured creditor to have a sheriff seize and execute upon a court judgment against the assets of a debtor and forcing a judicial sale to find an equity in excess of the rights and value of an existing security interest held by a secured creditor in the subject assets.