Sentences with phrase «to discharge the debt»

Though bankruptcy is the most common cause of discharged debt, other factors may affect a discharge, especially in the case of student loans.

If you can't discharge your debts under a Chapter 7 bankruptcy — such as alimony and student loans — then Chapter 13 may be your only solution.

Consumer advocates have long sought to make it easier for borrowers to discharge their debt through bankruptcy.

They have no legal authority to discharge your debts as they are not accredited counselors, paralegals, or licensed bankruptcy trustees.

If so, they will discharge your debt with Chapter 7 bankruptcy filing or will approve a payment plan with a Chapter 13 bankruptcy filing.

Student loans can be large enough that even with a lot of contributors, it can be difficult to completely discharge the debt.

If all of your property is exempt, you can discharge your debts without losing a single item of property.

However, the bankruptcy law considers it abusive to discharge your debt if you make above a certain amount of money.

Unfortunately, under current federal law, it is almost impossible for student - loan borrowers to discharge their debts by filing for bankruptcy.

If you elected to pursue some other solution, like bankruptcy, to discharge your debt quickly, you would not make monthly payments into an extended repayment plan.

If you accumulate any more debt after stating this to a creditor, you may not be able to discharge this debt within bankruptcy.

The firm takes great pride in having helped over 100,000 individuals to successfully discharge their debt.

The proceeds will be applied to discharge any debt owed to the landlord, to satisfy the claims of secured creditors and the residue will be paid to the tenant.

You may qualify for both of them or you may be limited to the type of bankruptcy that does not discharge your debt.

They can appeal the decision, discharge the debt through bankruptcy or more commonly settle the debt.

Negotiated debt settlement is a general term for discharging debt in a way that appeals to the credit card holder and the card's issuer.

Lenders are prohibited from trying to collect on discharged debt, including by incorrectly reporting your loans as past due or charged off in order to coerce you into paying.

Citizens filing for any type of bankruptcy — Chapter 7, 11, 12 or 13 — are eligible for discharging debt.

Creditors who had notice of the bankruptcy may not continue to collect discharged debts.

Once you have made all required payments and completed your duties in a proposal, your consumer proposal administrator will issue to you and the creditors a Certificate of Full Performance, which officially discharges the debts included in your proposal.

However, if you work in a public service job and make 120 qualifying repayments, you may qualify for the Public Service Loan Forgiveness program, which discharges any debt remaining after 10 years.

The court will release an order discharging your debts officially.

Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals and businesses who can't pay their bills and decide whether to discharge those debts so they are no longer legally required to pay them.

Another issue is that discharged debts remain on your credit report for 7 years after they are discharged.

Essentially, you go to court to get help discharging debt or repaying creditors.

Some of the new student loan refinancing startups, such as Earnest, will actually discharge your debt with them if you die or are permanently disabled.

In addition, discharged debts listed on your credit report must be listed as discharged.

The benefit of this program is it allows you to discharge your debt after it has been consolidated for a low payment.

With a Chapter 7 bankruptcy, the bankruptcy will only discharge the debts of the person filing the bankruptcy, not the debts of the filer's spouse.

The language of the divorce decree can reduce the chance that the bankruptcy court discharges the debt.

NEW PLAN Discharged debt in the event of death or total and permanent disability will no longer be taxable.

Filing for bankruptcy has a bad reputation in many circles due to the fact that it damages your credit and involves discharging debts that will likely never be repaid.

After bankruptcy, The credit card companies are required to report discharged debt as having a ZERO balance.

You may even have the right to collect money damages and have your attorney fees paid if a debt collector violates your discharge

The bankruptcy court treated the $ 7,000 second mortgage as an unsecured debt and discharged the debt when the creditor did not make any proof of claim for the money.

Here is my checklist — developed over many years of talking with thousands of indebted people — to determine whether discharging debt makes sense.

Bankruptcy gives people in financial distress a way to restructure their bills, or even discharge their debts entirely.

But if you've got some generous friends or family who don't mind dipping into their pockets, then it may be simplest to just discharge the debt in its entirety.

Many people file for Chapter 13 bankruptcy because they were not eligible to file for Chapter 7 bankruptcy, which liquidates your assets to pay off creditors and discharges your debts immediately.

There have been other cases that have further pushed the boundary, but more importantly the rulings open the door for more and more people to argue that their specific circumstances warrant discharging the debts in bankruptcy.

Generally, discharged debt comes off your credit report after seven years.

[xxi] These figures are consistent with the Fecek opinion, since the Fecek court was willing to partially discharge a debt where there was little to no chance the debtor would ever have the ability to repay.