Dubai - based developer, Limitless, is making an early payment of AED2.07 billion (US$ 0.56 billion) to banks and
trade creditors after concluding a restructuring agreement with lenders.
An individual's value to his
creditors at time of filing a consumer proposal comprises his assets valued at liquidation (auction) pricing (that may be a garage sale for your furniture and household goods, the wholesale cash buyer for your car, or the pawnbroker for your jewellery)
after deducting exemption in prescribed, legislated amount (s) for car, household goods, clothing, tools of the
trade, medical aids, home, life insurance, pensions, RRSP, etc., which amounts to little or nothing for the large majority of us, less than our debt in any case.
With that in mind, let's then address your concerns over whether the original
creditor will continue to report the original
trade line
after the «pay - for - delete,» and what that might mean for your score.
Entered nondischargeability judgments against bankruptcy debtors
after having previously represented the
creditor in a Superior Court trial to judgment against the same debtors for theft of
trade secrets.