Sentences with phrase «to repay creditors»

These plans work to repay your creditors in full over a three - to five - year period.

The Plan gives you up to five (5) years to get caught up on back mortgage payments and other debts by repaying creditors what you can afford.

In a chapter 13 case, you submit a plan to repay your creditors over time, usually from future income.

But, instead of selling valuable assets, you use income earned on your job to repay creditors through a repayment plan.

You only need to make one monthly payment to the agency, and they take care of repaying all your creditors.

To qualify for it, you must have a source of regular income and a plan for repaying your creditors that meets the approval of the bankruptcy court.

The proceeds go toward paying the trustee, covering administrative fees and, if funds allow, repaying your creditors as much as possible.

· Without ever increasing your balance you will end up repaying the creditors at least four times the current balance in interest alone, even with a low interest rate!

If you want to repay creditors listed on your credit report, make sure the debts aren't considered zombie debts.

As well, in a bankruptcy you could have to repay your creditors additional monies based upon the amount of your income.

These plans work to repay your creditors in full over a three - to five - year period.

If you feel so committed to repay your creditors what you owe them, you can always pay them back after your bankruptcy is discharged if it will make you feel better.

Chapter 13 bankruptcy allows you to repay your creditors over a three - to five - year period of time.

On top of repaying his creditors, he was also paying alimony to his former partner and child support.

Some of your property may be sold to repay your creditors as well.

Chapter 13 is a Debt Repayment Program that gives you up to five (5) years to get caught up on back mortgage payments; it also includes a plan to handle any and all other debts by repaying creditors what you can afford.

An individual voluntary arrangement (IVA) is a formal arrangement to repay your creditors part of what you owe and can be a way of avoiding bankruptcy.

A Chapter 13 bankruptcy also involves repaying creditors.

John and Liz were able to repay their creditors with easy instalments that fit in their budget and they were able to keep their house and car.

Under Chapter 13 debtors repay their creditors, either in full or in part, over a period of up to three years.

The settlement, which comes less than three months after the firm declared bankruptcy, is designed to help repay creditors owed some $ 250m (# 159m) in secured debt and at least $ 300m (# 190m) more in unsecured claims.

It is appropriate when a business has the financial ability to reorganize its debt obligations, but merely needs additional time to repay its creditors on a reduced debt basis.

The trustee is then allowed to liquidate certain bankruptcy estate assets to generate funds to repay creditors in priority order established by bankruptcy laws.

Debt consolidation and credit counseling are available through credit counseling services; credit counselors can help you review your credit reports, set up a cash based household budget, and repay creditors through affordable repayment arrangements.

Depending on the type of service, you might get advice on how to deal with your mounting bills or create a plan for repaying your creditors.

A Chapter 13 bankruptcy also allows the debtor to propose a â $ planâ $ to repay creditors over time - usually five years.

The key difference between bankruptcy and a debt management plan is that bankruptcy is a legal process, overseen by a judge and administered by a bankruptcy trustee, with the goal of discharging debts that a debtor is unable to repay, while a debt management plan is a privately negotiated agreement, sometimes administered by a for - profit company, with the goal of repaying creditors and avoiding bankruptcy.

Bitcoin has slumped more than 20 % this week amid increased regulatory scrutiny in the U.S. and Japan, an attempted theft at one of the biggest trading venues, and news that the bankruptcy trustee for Mt. Gox has started selling the now - defunct exchange's holdings to repay creditors.

However, some of your property might have to be sold to repay your creditors, according to Nolo.

If you liquidate, however, any proceeds from the assets must be used to repay creditors.

Solyndra said in documents filed in Delaware's bankruptcy court that it plans to spend the next four weeks trying to drum up interest among potential U.S. and foreign buyers to avoid shutting down permanently and selling its assets piecemeal to repay its creditors.

Bitcoin has slumped more than 20 per cent this week amid increased regulatory scrutiny in the U.S. and Japan, an attempted theft at one of the biggest trading venues, and news that the bankruptcy trustee for Mt. Gox has started selling the now - defunct exchange's holdings to repay creditors.

If the corporation went bankrupt, the stockholders were not personally liable to repay its creditors.

Aged 34, determined to repay his creditors in full, he sat down to write his first novel Not a Penny More, Not a Penny Less.

Nothing seems worse at a time when you owe thousands of dollars in debt and you have taken out loans to repay all your creditors.

You may be able to propose to repay your creditors a total of $ 15,750 in exchange for the elimination of all your debt.

If an individual declares a Chapter 7 Bankruptcy, most any assets, including any businesses owned, may be seized to repay creditors.

In addition, used household goods and personal effects have little resale value, and so do not represent a real source of value to repay creditors.

If you fall behind in repaying your creditors, you may be contacted by a «debt collector.»

In other words, you can't give a valuable painting to your cousin before you file in order to avoid having to sell it to repay your creditors.

If you repaid any creditor within 90 days of filing, the court will examine the payment to determine if it qualifies as a preference.

Your credit score reflects how well you handle your money and how likely you are to repay a creditor, on time and within terms.

A court order to seize a portion of a cardholder's income or paycheck to repay a creditor.

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

Any other belongings like other houses or other vehicles will be used to repay the creditors and you will typically loose them.

The buyer pays them, and they take a portion of that payment and repay their creditors and pay their employee salaries.

Another main advantage of Consumer Proposals when compared to bankruptcy is that you do not have to give up your assets like your home, second car, or investments to repay your creditors.

Chapter 7 Bankruptcy allows the bankruptcy court to liquidate your nonexempt assets and use the proceeds from the sale to repay your creditors.