Sentences with phrase «year repayment plan ordered»

Not exact matches

If a creditor does challenge the discharge of a debt, Ginsberg states that the recourse is to negotiate a partial payment plan for that particular debt or to convert the case to a Chapter 13 Bankruptcy, which requires a court - ordered repayment plan over several years.

Over the past 10 years or so, there has been many numerous repayment programs and «loan - forgiveness» plans created in order to alleviate borrowers with high student loan debt, who find themselves struggling to make their established payments.

In order for this to pay off, you need to be an Income - Driven Repayment Plan and fill out the correct paperwork with the government each year.

Rather, the borrower will simply be placed in the first plan the borrower qualifies for in the following ordered list: (1) REPAYE (if the borrower qualifies for the 20 year repayment period), (2) PAYE, (3) REPAYE (if the borrower would have a 25 year repayment period), (4) IBR, (5) ICR.

As part of a Chapter 13 action, in which the court orders a repayment plan for the debtor to complete over several years, the second mortgage is stripped from the home and viewed in the same way as unsecured debt, such as credit card and medical bills.

Chapter 13 bankruptcy is often called «reorganization» because it allows the court to order and secure your debts in a 3 - 5 year repayment plan.