Sentences with phrase «sum payment to a creditor»

What representatives do is that they offer a lump - sum payment to creditors for less than what you owe and then they intentionally make you delinquent on your debts in order to have leverage.

Debt settlement means offering a lump - sum payment to a creditor for less than what is owed.

Not exact matches

Debt - settlement companies tend to hold monthly payments from you until they have a lump sum they can offer a creditor in exchange for a settlement.

If you are negotiating with the original creditor to reduce the debt for a lump sum payment, include the stipulation that they remove the negative credit status.

The exception to the rule of offering a 60 month payment term might be if you expect a lump sum to be available to offer your creditors.

Once an agreement is achieved each month you pay the consolidation company one lump sum; and the company disburse the payment to your creditors.

Debt settlement companies approach your creditors and negotiate a plan in which each creditor agrees to cancel the loan for less than what you owe in exchange for a lump sum payment.

You would make payments into the account each month and a lump sum payment is made to the creditor when the dedicated account balance is high enough to pay the settlement amount.

Under a debt settlement arrangement, your creditor agrees to accept a lump sum payment of less than your unpaid debt to resolve fully your debt.

When a sufficient amount is available to offer, as a one - time lump sum payment to one of their creditors, negotiations start.

If you miss a few credit - card payments, your creditors are often willing to settle for a lump - sum payment of a percentage of what you owe.

Similar to an equity loan, you can receive the loan amount in a single lump sum or in equal monthly installments paid to you from the creditor, which is why it is a reverse mortgage — you receive payments rather than make them each month.

A voluntary method of debt restructuring in which a person makes a lump sum payment to a financial counseling agency who distributes the funds to creditors.

If your IVA fails then your debts will be reinstated less any payments received by the creditors (this is the sum total of payments you've made up to that point less any fees your creditors have agreed to give your IP).

In return for having a lump - sum payment, the creditor agrees to write off the rest of the debt.

Buydown: A lump sum payment made to the creditor by the borrower or by a third party to reduce the amount of some or all of the consumer's periodic payments, to repay the indebtedness.

You need to be able to raise a lump sum to pay the creditors or be able to make regular payments from your income to your creditors.

A Consumer proposal is a way to negotiate a debt settlement with your creditors by offering to pay back a reduced amount of your debt, either in a lump - sum payment or in monthly installments over an extended period of time.

For instance, if you owe $ 15,000 in credit card debt but are able to make a lump sum payment of $ 9,000 from savings or a windfall you receive, your creditor may agree to forgive the remaining debt and you would not have to pay it.

Once the fees were paid, the company would accumulate the payments until there was sufficient money available to offer a lump sum settlement payment to one of the client's creditors.

Once the account has grown to a certain amount whereby a lump sum payment can be made, the debt settlement company contacts your creditors and begins negotiating a settlement with them.

While most creditors want a lump - sum payment over installments it is possible in some cases to establish an installment agreement.

A debt settlement for less than the full balance owed gives a debt collection company the opportunity to collect a lump sum payment in one big payment, and creditors often don't turn down a lump sum chunk of cash!

If you have a lump sum that is less than the full balance you owe on your debts, you can ask your creditors to accept the payment and write off the rest of the debts.

An attorney negotiates with the creditor to reduce what you owe, and you make a lump - sum payment of the remaining debt.

The representative from settlement company negotiates with your creditors and / or collection agencies to reduce the payoff amount so that you can get rid of debts through a lump sum payment on each account.

(b) With respect to the deferral of one or more wholly unpaid scheduled payments in a consumer credit transaction, in which the finance charge was determined by the precomputed method, the creditor may collect, by agreement with the debtor either before or after default, an additional charge for each full month that any wholly unpaid scheduled payments are outstanding after the due date of each scheduled payment equal to that proportion of the finance charge which the amount of the deferred monthly scheduled payment bears to the sum of all monthly balances originally scheduled.

One reduced lump sum payment will then be released from your account — and paid directly to the creditor — resulting in a «zero dollar balance» — reported as «settled in full» and sometimes removed from your credit report entirely.

Finally, the Company Voluntary Arrangement (CVA) is the third option whereby creditors are approached with an offer of payment of sums owed over time to settle due bills.

In an insolvency context, administrators may be better off agreeing that contractors and consultants should continue to work on the project to completion in return for payment of a proportion of outstanding sums (with the project team then taking their place in line as unsecured creditors for the balance).