Sentences with phrase «soon as debtors»
Generally, it takes effect as soon as debtors file their voluntary petitions and stays in effect for the duration of the case.
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Sure, your garden - variety lender does not have the power to garnish your wages or levy your bank account, but all creditors from loan sharks to credit unions and cable companies are interested in one thing: collecting as much as they can from debtors, as soon as they can.
Therefore, the clerk of court will issue a discharge in a Chapter 13 as soon as practicable after the trustee notifies the court that the debtor completed all payments under your plan, which may span 3 - 5 years.
The debtor does not have to request a Stay of Proceedings; it's automatically in effect as soon as the filing has been made.
The plaintiff discovered his claim as soon as he learned that the CDS market had crashed, and a loss was almost a certainty, NOT on the date that the debtor actually defaulted.