Sentences with phrase «who makes the payments to the creditors»

It is also the trustee who makes the payments to the creditors.

Not exact matches

You will make payments each month to your counselor who will then disburse the payments among your creditors.

You are required to make one monthly payment to your credit counselor, who then distributes the funds to your creditors on your behalf.

Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the creditor).

Chapter 13 bankruptcy can reorganize your debt and the individual makes payments to a Chapter 13 trustee, who then makes the payments to the creditors on your behalf, for a settled amount of money, over a period of 3 - 5 years.

He or she makes a payment to a bankruptcy trustee who then pays the creditors.

If accepted, you make payments to Hoyes, Michalos (the Consumer Proposal Administrator) who in turn makes payments to the creditors according to the terms of the consumer proposal.

• You must have a regular income that will permit you to make the pre-determined payments to the trustee in bankruptcy who will distribute funds to your creditors.

Debts enrolled are consolidated into 1 monthly payment that is paid to your Debt Management company, who in turn makes the payments to the creditors.

Following are the things that can effect changes on your scores: • Consistent and constant late payments • Increased or reduced credit limits • Higher credit card balances • Higher HELOC (Home Equity Line of Credit) balance • Closing revolving accounts • Recent credit inquiries made In the same way, any new practice you start in managing your credit takes effect and influence your credit scores within 30 to 60 days; due to the lag time between the action you take against the period it takes the creditor to report the action to the agencies who handle credit reports.

Those who enroll make monthly deposits with a credit counseling organization, which then is used to pay the debts according to a predetermined payment schedule developed by the counselor and creditors.

Once their plan is accepted, the couple will begin making payments to a court - appointed trustee who will be responsible for monitoring their progress and conveying the money to the creditors.

The best thing about a Chapter 13 is that it helps avoid filing for Chapter 7 bankruptcy.By extending the length of time you will take to pay off your debts, your monthly payments will be smaller making it easier for you to get out of debt.Chapter 13 also offers the convenience of consolidation because you only make one monthly payment to the trustee who will deal with all your creditors for you.Once you have filed the petition, the creditors are no longer allowed to take any action against you in order to collect their payments.

A DMP is a good option for people who can afford to make regular payments to their creditors and want a hassle - free, easy way to pay.

A voluntary method of debt restructuring in which a person makes a lump sum payment to a financial counseling agency who distributes the funds to creditors.

You will make payments each month to your counselor who will then disburse the payments among your creditors.

You are required to make one monthly payment to your credit counselor, who then distributes the funds to your creditors on your behalf.

Therefore, credit repair organizations who change their corporate status have two avenues from which to make money, although both streams originate from the consumer's funds: direct fees to the consumer, and kickback payments from the creditors.

One of the best advantages of filing a Chapter 13 case rather than dealing with a debt consolidation company is that you are dealing with a Chapter 13 trustee who will make payments to your creditors each month.

Creditors are more likely to loan money to those who have an established history of using credit and making regular payments than those who have only used credit for a short time.

It is designed for consumers who can't afford to make monthly minimum payments to creditors.

You need to make a single monthly payment to the counselors, who distribute the amount amongst your creditors.

This is made to an approved payment distributor, who will send the money to your creditors for you.

Debt settlement is an option for people who are in a financial harship and can not afford their monthly payments It is important to be aware that you are not making monthly payments and staying current on your debts while enrolled in a debt settlement program, so be aware of the credit impact and the potential collection harassment from your creditors.

The idea behind do - it - yourself debt negotiations is to reduce or minimize the payments you make to a creditor who you are likely already in arrears with.

This is made to an approved payments distributor who will send the money to your creditors for you.

About 37 percent, up from 34 percent in 2014, were filed under chapter 13, in which individuals who have regular income and debts below a statutory threshold make installment payments to creditors under court - confirmed plans.

During this time you'll make one monthly payment to a trustee who will then deal with your creditors.