Sentences with phrase «unsecured creditors did»

In the bankruptcy, unsecured creditors did not receive any distributions and the wife, therefore, received nothing.

However, we recommend that unsecured creditors do not wait to file and the form immediately once it is available.

Not exact matches

Unsecured Debt: Debt to a creditor who does NOT have any collateral securing the debt.

When the loans for bad credit are unsecured, it means that all you need to do is assure the creditors that you will repay the money by simply signing a document.

Unsecured creditors are lenders who don't have any collateral to secure their debts.

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.

Since there is no collateral for unsecured debts there is really nothing for the unsecured creditors to do once a bankruptcy debtor's discharge has been entered.

An unsecured creditor takes on more risk than a secured creditor because it does not have the ability to seize an asset right away if a borrower fails to repay the debt.

In these cases creditors like your credit card company, unsecured loan company etc. understand that if you do not receive relief from the monthly payments you may find yourself in bankruptcy court.

It doesn't matter how much your contracted unsecured monthly debt repayments are, this is the amount your IP has calculated you can afford to repay and assuming your creditors agree to your proposal, this is the only amount you'll ever be asked to pay.

If this happens, all of your unsecured creditors, whether they voted yes, no or didn't vote at all, are legally obliged to abide by the terms of the IVA agreement.

Unsecured debts are also available from creditors, but unlike Secured Debt, unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the Unsecured debts are also available from creditors, but unlike Secured Debt, unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the unsecured debt does not have collateral or a specific asset which can be liquidated to repay the loan to the creditor.

Unsecured loans for debt consolidation are loans that do not need collateral and are aimed to help you: avoid bankruptcy, end creditors» calls, lower debt payments, make one low monthly installment, and eliminate debts.

And what you're doing is saying to your creditors is I can't handle this unsecured debt load with all of its minimum payments and interest and everything the way it's at right now.

Do you think it fair that creditors can use this route to make an unsecured loan secured?

You don't want to borrow an unsecured debt consolidation loan for replacing old creditors with a new creditor, which might enforce higher and stringent terms of payment.

In most cases, the unsecured creditors (like credit card companies) do not attend the meeting.

If you are paying your unsecured creditors in full in a Chapter 13, then you do not have to turnover your tax refunds.

If the creditor has no ability to claim some of your assets when you don't pay (this is often the case with credit cards), the creditor has made an unsecured loan.

An unsecured creditor is one who has provided credit but who does not have any security for the amount owed to them.

While the CRA does have significant collection powers compared to other creditors when it comes to a consumer proposal or personal bankruptcy, taxes are generally dischargeable debts (i.e. they go away upon completion of the procedure) just like your credit card debts, bank loans, or other unsecured debts.

We do this by working out how much you have left over after essential household expenditure and priority payments have been accounted for (we do not include payments to your unsecured creditors in this calculation).

Doesn't pay unsecured creditors all of the debt owed.

And the committee for unsecured creditors contends that payments to partners were done improperly at a time when the firm should have known it was insolvent, an assertion that lawyers for Coudert deny.

However, because there is still some ambiguity in the law on this point, the estate trustee should reach out to the estate's unsecured creditors to let them know (a) that the estate does not have enough money to pay all debts in full and (b) that the estate trustee is planning to pay the estate taxes before paying the other debts.

Claimants» delay in not moving for fees pre-dismissal was reasonable because the counsel involved did not want to delay other unsecured creditors» wish that the case be dismissed so they could post haste sue debtor in state court for collection of debts owed.

Our representation of the noteholders in bankruptcy court litigation led to a confirmed plan under which our clients received (i) the opportunity to buy Energy Future Holdings» regulated utility Oncor and convert its parent into a real estate investment trust (REIT), and (ii) a down - side recovery, along with other unsecured creditors, of US$ 550 million in the event the transaction did not close.

Sometimes unsecured creditors only get a very small percentage of what they are owed, but if you complete your Chapter 13 plan, the balance of what you did not pay is discharged, or wiped out.

The fact that creditor customers are unsecured does not appear to be either widely understood or widely known.

In doing so, I was able to persuade the bank to accept the seller's demands, including paying off a substantial amount of those unsecured debts he owed to the creditor friends from whom he had borrowed money to purchase the property.