Sentences with phrase «time bankruptcy»

A first time bankruptcy lasts for a minimum of 9 months, but if you are over the earnings limit you are bankrupt for 21 months.

A second time bankruptcy takes longer and costs more.

The length of time a bankruptcy stays on your credit report depends on what type of bankruptcy you declared.

A first time bankruptcy generally stays for six years, could be seven years after the bankruptcy's finished.

The more important issue may be to time your bankruptcy properly.

If it's a second time bankruptcy then I believe it's 14 years cause in affect the first one comes back, what about a consumer proposal?

The total amount repaid to creditors is determined by the length of time the bankruptcy repayment period lasts and the amount paid to the creditor each month.

Especially their first time bankruptcy is going to be 21 months.

Another factor to consider is the fact that a second time the bankruptcy will remain on your credit report for 14 years after discharged.

The presence of a bankruptcy, and the length of time the bankruptcy has been on your report, are the strongest determining factors.

Understanding the chapter 13 bankruptcy payment plan is complicated not only for first time bankruptcy filers, but it can be complicated for bankruptcy attorneys as well.

The filing date is used in credit reporting to help determine the length of time a bankruptcy public record item remains on the credit report: 10 years for a Chapter 7 and, typically, seven years for a completed Chapter 13.

We tackle two topics about timing your bankruptcy on today's podcast: Ian Martin, a Chartered Accountant and Trustee in Bankruptcy at Hoyes Michalos, explains how a tax refund or tax debt may impact what time... Read more»

Doug Hoyes: So, first time bankruptcy if you have no surplus income, no issues, you get discharged in nine months, there's another six years with Equifax (could be seven years with a different credit bureau), that the note that says you went bankrupt stays on your credit report.

As a first time bankruptcy with no surplus income, Kevin was successfully discharged after nine months.

Well, so now the settlement can't work anyway so the consumers were forced either into a proposal or often times bankruptcy cause they were just so scared of what had happened to them.

Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the last time bankruptcy law was significantly altered.

First time bankruptcy filers always have numerous questions when they first begin to learn about the process.

If a creditor opposes your bankruptcy discharge, your second time bankruptcy could last longer than the minimums set out above.

The card can be obtained during a first time bankruptcy (with a maximum credit limit of $ 1,000) or after a bankruptcy discharge (with a maximum credit limit of $ 4,000).

Length of Bankruptcy: A first - time bankruptcy can be completed in as short as 9 months.

It will lower your credit score and credit history to the lowest level for a minimum to six years from the time your bankruptcy is completed;

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.

A difference between first and second time bankruptcy is that in a case of second - time bankruptcy you are not eligible for an automatic bankruptcy discharge in as little as nine months — as is the case when personal bankruptcy is filed for first time.

Before deciding to file for a second time bankruptcy, you should fully understand all of its implications, including prolonged bankruptcy discharge.

If it's a second time bankruptcy, it will be longer.

Even if you were to file a chapter 13 bankruptcy to propose to pay the loan back, local rulings state you have no more than 30 days from the time the bankruptcy is filed to redeem the car in full.

It involves making a single monthly payment to a trustee (first - time bankruptcy), over a term of typically 9 - 21 months.

If a client is in default on their mortgage loan at the time the bankruptcy case is filed, the chapter 13 plan can provide for a repayment (it's called a «cure») of the back house payments.

So the chapter 7 debtor behind on house payments must be aware that the filing of a chapter 7 case will only offer a temporary solution to a mortgage default, and if the chapter 7 debtor can't catch up on payments during the time the bankruptcy case is pending, foreclosure is a real possibility.

Most of the Section 1031 Exchanges failed by the time the bankruptcy court ruled, five months later, that $ 400 million of the customers» funds were actually owned by LES, and would be used to pay the company's secured creditors.

This waiting period begins from the time the bankruptcy is discharged.