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Chapter 7: In a Chapter 7 bankruptcy filing, some of your assets are sold to pay back debt, meaning you could lose your home and personal property. A few months after filing, your remaining debt ...
In this settlement, they may be able to pay a reduced amount of the debt in full. Assistance From Government Agencies Some government agencies, like the IRS or the U.S. Department of Education ...
What Is Debt Settlement? Debt settlement is a negotiation process that aims to reduce your total debt owed to a creditor. If you and the creditor reach an agreement, you will pay a lump sum less ...
Key takeaways. Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ...
Debt settlement is the process of negotiating with creditors to reduce overall debts in exchange for a lump sum payment. A successful settlement occurs when the creditor agrees to forgive a percentage of the total account balance. Normally, only unsecured debts, not secured by real assets like homes or autos, can be settled.
On June 16, 2009, Judge Burton Lifland approved the settlement between Picard and Banco Santander SA's Optimal Investment Services. The Optimal SUS fund, one of Madoff's largest feeder funds, agreed to pay $235 million, about 85% of the $285 million that the Geneva-based hedge fund group redeemed in the 90 days before Madoff was arrested. As of ...
Declaring bankruptcy may be the best solution if all the following are true: You have large amounts of unpayable debt. You are already at risk of losing essential assets — such as your car or ...
Here are some of the actions to take if you think you may be late or unable to make payments: Reach out to your bankruptcy trustee and request more time to catch up. Notify your attorney if you ...