Sentences with phrase «unsecured debts had»

Our unsecured debts had grown to # 25,000 and it didn't seem like the banks were really on our side.

When you speak with a bankruptcy attorney, you will be asked how much secured debt you have and how much unsecured debt you have.

This allows people to keep their assets (house, vehicles, investments, cottage, etc.) while eliminating unsecured debt they would otherwise have little chance to pay off in the normal course of life.

Your repayment plan will continue for a period of 3 - 5 years (depending on the individual circumstances of your case) and at the end of your repayment period, any remaining unsecured debt you have left is discharged — erased, eliminated, wiped away — forever!

If you have filed Chapter 7 bankruptcy and your unsecured debts have been discharge this discharge constitutes a permanent statutory injunction prohibiting creditors from taking any further future actions against you.

I am wondering, however, if all of the unsecured debts I have will be discharged?»

The percentage of repayable unsecured debt you have to repay must be at least equivalent to what creditors would receive in a Chapter 7 bankruptcy.

When you work with a debt relief company like Freedom Debt Relief, you choose which of your unsecured debts you would like help with.

You have declared bankruptcy and your unsecured debt has all been discharged.

However, using this money to pay off unsecured debt has now placed your primary asset (your home) at risk.

For most of my clients, credit card debt is the biggest unsecured debt they have.

In exchange, this permits the second purpose where the debtors may receive loans on more favorable terms than that available for unsecured debt, or to be extended credit under circumstances when credit under terms of unsecured debt would not be extended at all.

Examples on personal unsecured debts would be credit cards, pay day loans, personal loans and overdrafts.

Not exact matches

Wesfarmers has received a boost, with Moody's upgrading its issuer and senior unsecured long term debt rating from Baa1 (positive) to A3 (stable).

A lot of credit card debt, of course, has in the last few years been shifted over to lower - interest lines of credit, usually unsecured.

And because of the softening in the market, they haven't been able to find a lender willing to issue them a HELOC large enough to cover their unsecured debt.

By 2011, she had more than $ 65,000 in unsecured debts alone.

Known as debt settlement, it's a process by which consumers stop paying unsecured creditors, wait months or even years until creditors have given up hope of collecting, then offer to settle outstanding balances for mere fractions of the amounts owing.

Seadrill said the approved plan, which extends maturities of $ 5.7 billion in bank debts, converts $ 2.3 billion of unsecured bonds to equity and injects $ 1 billion in new debt and equity, would enable the company to take advantage of a market recovery.

A DTI ratio of 50 % or higher is a bad sign to lenders, as it means you may have trouble paying back your debts (and thus may default on the unsecured loan you're applying for).

The hedge fund would break even on its debt investment if the Berkshire bid prevails because gains in some parts of its debt holdings, which would be paid out in full, would offset losses in the unsecured bonds it holds, where it would take a deep haircut, the people said.

As of November's 10K report, Bear Stearns had $ 9 billion in unsecured short - term debt, and $ 66 billion in long - term debt.

«A typical approved applicant will have total unsecured debt of less than 30 percent of gross annual income,» says Foley.

Your credit score has a greater effect on the interest rate for credit cards because credit cards are unsecured debt.

So if a person had $ 50,000 in various credit card debts and tax arrears, and another $ 50,000 in a shortfall on a mortgage, the total unsecured debt is $ 100,000, for which creditor votes totalling $ 51,000 would carry the proposal.

And if you're already carrying a balance on these debt types, you might have less room to take out a new unsecured personal loan.

If you have unsecured debt, chances are you're paying a significantly higher interest rate than you'd be charged with a HELOC.

In the process, shareholders would appropriately be wiped out, subordinated debt would be wiped out, senior unsecured debt could be written down to the extent that losses were still uncovered, and senior bondholders would get equity and convertible debt in the new restructured institution.

This makes unsecured personal loans viable options for financing new and necessary purchases, as well as refinancing past debts that have higher interest rates.

Broaden the range of eligible assets to include exchange - traded equity funds — following the Bank of Japan — or unsecured bank debt would also be controversial.

Many banks may approve your CD - secured loan even if your debt - to - income ratio is high or your credit score is low, and you wouldn't otherwise qualify for other unsecured loans.

Based on the information provided, I would avoid withdrawing money from my traditional IRA to pay off an unsecured credit card debt, but remember this is just what «I» would do.

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

In this case, you either have to pay the debt off including all interest and late fees incurred, wait for the statute of limitations to expire on unsecured debt or claim bankruptcy to get rid of the debt.

Though such legal processes would take a longer period of time than the simple action of repossession for which secured loan lenders are entitled, someone taking an unsecured loan is still risking his assets if he fails to repay his debt.

As of the time of this writing, you may not have over $ 1,081,400 in secured debt (mainly consist of mortgages and car loans) and no more than $ 360,475 in unsecured debts (generally credit cards, medical bills, student loans, and income taxes).

Whether or not a debt is secured or unsecured has no bearing on whether or not it is dischargeable.

While this does have the advantage of converting high, non-deductible interest to lower, deductible interest, it also converts unsecured debt to secured debt.

This means you risk having any unsecured debts such as your credit cards closed completely after the settlement is complete because lenders don't want to continue granting you credit.

Most debtors have no nonexempt property, which means that they pay nothing to unsecured creditors and their debts are discharged.

Once they receive your monthly deposit they will then pay your credit card bills and other unsecured debts according to payment schedules they've worked out with you and your creditors.

If you have mostly unsecured debt, like credit cards and personal loans, Chapter 7 bankruptcy can help you eliminate your responsibility for these debts.

If you don't own a home or have no home equity, you can request an unsecured debt consolidation loan from your financial institution or online.

They pay credit card bills, medical bills, or other unsecured debts according to a payment schedule they've worked out with you and your creditors.

If you owe more than your current unsecured high credit rating (the highest amount you have borrowed from a lending institution without offering collateral), you probably will have to offer something up as collateral to receive a debt consolidation loan.

If you are a Sole Trader (self employed), then any unsecured debts that have been generated as a result of trading can be included in an IVA; they are treated no differently to your unsecured personal debts.

If you spend your tax refund on luxury goods, use it to repay a friend or family member, or pay off a credit card or other unsecured debt, you may trigger an objection from the trustee, and be required to turn over your tax refund, even if you HAVE spent the money.

The basic idea behind the latter method is that the unsecured debt of a firm can be viewed as having sold a put option to the equity owners.

«When a consumer is unable to meet their regular monthly debt payments, our agency as well as other (accredited agencies), may establish a DMP to help the consumer manage and pay off their unsecured debt by having the consumer deposit a monthly payment into a (trust account) which, in turn, is distributed to their creditors,» Hannah says.

They are usually included because the debt is unsecured and because the creditor has less negotiating power than banks and other big companies.