Sentences with phrase «year repayment plan rather»

This would mean committing to a five year repayment plan rather than the 21 months her bankruptcy would last.

Not exact matches

On the one hand, Minsky said, this could benefit undergraduate students whose debt would be paid off after 15 years on an income - driven repayment plan, rather than having to wait 20 or 25 years under the current system.

In Chapter 13, the court approves a repayment plan that allows you to use your future income to pay off your debts during three to five years, rather than surrender any property.

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.

In Chapter 13, the court approves a repayment plan that allows you to use your future income to pay off your debts during a three - to - five - year period, rather than surrender any property.

Borrowers who take out their first loan on or after July 1 will be eligible for the version of the income - based repayment plan that caps their payments at no more than 10 percent, rather than the 15 percent of the «classic» income based plan, of their disposable income and will forgive any remaining balance after 20 years rather than 25.

If your projected disposable income over a five (5) year period exceeds your unsecured non-priority debts by more than 25 percent, you generally will be required to pursue a Chapter 13 repayment plan rather than obtain a Chapter 7 bankruptcy discharge.

In Chapter 13, the court approves a repayment plan that allows you to use your future income toward payment of your debts during a three - to - five - year period, rather than surrender the property.