Is subordinated debt more senior than senior unsecured?
No. While both tranches of debt are unsecured (no collateral pledged in support of the debt obligation), by definition, senior unsecured ranks higher in the capital structure than subordinated debt, meaning that senior unsecured creditor claims will receive payment prior to subordinated debt creditors upon bankruptcy of the debtor.
Unsecured debt consolidation loans are indeed a great help for debtors. It implies that you shoot a number of unsecured loans by another unsecured loan. But more often than not, it involves no security against your money provision and serves your purpose without collateral. It tries to cut your cost with existing debt to a considerable level. The rate of interest you are offered always remains much lower to that of all your existing debt… Read More
Yes debt consolidation can work with secured debt. But unsecured debt consolidation loans are indeed a great help for debtors. It implies that you shoot a number of unsecured loans by another unsecured loan. But more often than not, it involves no security against your money provision and serves your purpose without collateral. It tries to cut your cost with existing debt to a considerable level. The rate of interest you are offered always remains… Read More
A debtor cannot be criminally prosecuted for unpaid debt unless he or she incurred said debt fraudulently. It is a myth that creditors (credit card issuers) do not have recourse to collect the debt owed. Credit cards are considered unsecure debt because their is no specific collateral attached, such as a vehicle. The creditor can file a civil suit against the debtor and if awarded a judgment can execute it in the manner allowed by… Read More
In New York State, unsecured debt falls into the category of CVP - Civil Practice Law and Rules Section 213 is what applies -- read more details here (abbreviated link to NY State website: http://bit.ly/WindP3)
== == Yes, utility bills are classed as unsecured debts but if you are struggling with debts then it is important that you class these as a priority debt. If you find that you are in arrears with your suppliers then it is important that you seek debt help and advice as soon as possible. If you do not pay your bills, your supply can be cut off, in this way they are more important… Read More
Chapter 13 bankruptcy is a type of bankruptcy that reorganizes your debt into monthly payments and essentially places the debtor on a strict budget. An individual's debts are not discharged under Chapter 13 bankruptcy, but rather, the individual may lower his debt payments to affordable levels. He will then have a certain period of time to pay off his debt. The plan for getting out of debt is formalized and approved by the bankruptcy court… Read More
Yes. But in California, you can not have more than ~$330,000 of unsecured debt if you are going to file for Chapter 13. Check your local bankruptcy rules to see if you qualify for chapter 13 bankruptcy based on your debt.
Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.
Chapter 13 bankruptcy, or reorganization bankruptcy is a very different type of proceeding An individual's debts are not discharged under Chapter 13 bankruptcy, but rather, the individual may lower his debt payments to affordable levels, making payment over a designated period of time. The plan for getting out of debt is formalized and approved by the bankruptcy court. Some unsecured debt (debt that is not collateralized) may be discharged. However, if you owe more than… Read More
In the US there are several laws governing credit card debt. Some of the more interesting include that it is unsecured debt so that it may be discharged in bankruptcy, that you must be given an interest free payment window for purchases, and that a card holder's liability is capped at $50 USD for a lost card.
"Unsecured priority" refers to a type of debt. It means (1) that there is no lien guaranteeing (securing) the debt, and (2) that the Bankruptcy Code gives it priority over other unsecured debts for public policy reasons--in other words a priority debt gets paid before non-priority debts. So, a car cannot be unsecured priority, because it is an asset and not a debt. If you are asking whether you can protect your car in bankruptcy… Read More
There are many kinds of personal loans that can be unsecured. When a loan is unsecured it just means that it isn't as protected as a regular loan and how more red tape to cross.
For Chapter 7 in Illinois, eligibility for filing bankruptcy requires that one must not be able to pay at least $6,000 over the next five years ($100 per month) to unsecured creditors after expenses. But if one can pay at least $10,000 over five years ($166.67 per month or more), Chapter 7 will likely be denied. If one can pay $6,000 but less than $10,000 over five years, then a mathematical calculation determines whether Chapter… Read More
Unsecured loans are best used for small purchases. It is unwise to take a large unsecured loan due to the fact that more will be confiscated to pay it back.
The advantages of filing for bankruptcy are different depending on which chapter bankruptcy is filed. Chapter 13 is more for home foreclosure and auto loans, it's advantages allow the person in debt to pay their debt back over a longer period of time and keep the things they have worked very hard for. Chapter 7 advantages are that the person in debt can make payments for less than a year and be debt free and… Read More
If a spouse dies and had unknown individual unsecured credit debt is the surviving spouse responsible for paying these credit cards or medical bills?
If nothing else, the spouses Estate would have to pay it, if there was $$$ for more info see www.steveshorr.com/estate.planning.htm
In Illinois, Chapter 7 eligibility requires that one must not be able to pay at least $6,000 over the next five years, or $100 per month, to unsecured creditors after expenses. Chapter 7 will likely be denied if one can pay at least $10,000 over five years, or over $166.67 per month. If one can pay unsecured creditors between $6,000 - $10,000 over five years, then Chapter 7 will be decided by a mathematical calculation… Read More
Debt management counselors help to provide solutions for your unsecured debts. Unsecured debts include credit cards, department store cards, credit lines, unsecured personal loans. Look for professionally trained and independently certified counselors as they can be trusted to work solely for your benefit. They will help you assess your financial situation, work with you in preparing a personal budget, and offer several viable options that will help clear your debt in the quickest possible time… Read More
The similarities are that both types of debts can be collected according to the respective laws governing the transactions. Secured debts are those in which some form of collateral has been used. When someone buys a house, the house is used as collateral for the loan. Lenders have much more leeway when collecting on defaulted mortgages, such as foreclosure/forced sale. In the instance of credit card debt, which is unsecured lawsuits have to be filed… Read More
Senior , more senior , most senior Junior , more junior , most junior Superior , more superior , Most superior Inferior , more inferior , most inferior
The amount of interest you pay depends on the institution that you borrow from. You will usually pay more on an unsecured personal loan than a secured one.
An unsecured loan is risky for many reasons. You may pay more interest, or if it is with someone you know maybe no interest. Read the terms and conditions you agreed to.
One answer About 8 cents per dollar (for unsecured debt). Secured debt (car loans, etc.) will usually be priced higher because there is more of a prospect for collecting at least a portion of the money. More input You might wish to read the Related Question, and also the Answer.com articles, listed further down this page. For business debt companies work different ways, usually collection agencies that collect business to business charge by comission, this… Read More
The Consumer Credit Act of 1974 (CCA-1974) provides a basis for all laws associated with non-payment of unsecured debt by consumers. The Consumer Credit Act of 2006 (CCA-2006) modifies portions of the CCA-1974 by providing consumers with more protection from creditors. In summary, if one does not pay their unsecured debt in the UK: * Banks will make all attempts to collect the debt * If unsuccessful, based on the amount, the bank may apply… Read More
'I am...' = 'Yo soy....' but 'Senior' needs more specification: senior citizen? not junior? school senior? Please specify.
The biggest was debt, debt and more debt!
If you have a large balloon payment due in 2 months and 110k worth of credit card debt will you lose the house when you declare bankruptcy?
that depends. a couple things you'd need to consider are whether all of your debt is unsecured (credit card debt, generally) or whether you also have secured debt (mortgage, car) - this, and your goals in filing bankruptcy, will affect which chapter you file in. another large consideration is what type of exemption your state has for homes. it may be that you are unable to exempt your home because it is worth more than… Read More
The motto of Fitch Senior High School is 'Achieve More, Believe More, Care More'.
It is more complicated than just having bad credit. When applying to file for bankruptcy, the court using a calculation that compares the amount of debt owed with your current (or foreseeable future) income. So it is the debt rather than the bad credit that allows you to file for bankruptcy. More specifically, your income will be calculated with exemptions such as rent and food to determine whether you can afford to pay 25 percent… Read More
The only option for becoming debt free is filing for bankruptcy. A chapter 7 bankruptcy is considered a total liquidation when it pertains to unsecured debts. A chapter 13 is a consolidation BK, in which the debtor is placed on a payment schedule usually 3-5 years for repaying all debts secured and unsecured, according to their priority. With the new bankruptcy laws in effect filing a chapter 7 is a little more difficult than previously… Read More
Unless one or more of the mentioned credit accounts included specification of a tangible property (eg. what you referred to by the term "deed") -- which is almost unheard-of -- then the "credit card" accounts are UNSECURED DEBT. The fact that your deceased spouse was a joint owner with you of a property has nothing to do with your spouses outstanding unsecured debt (ie. credit card accounts in the spouses name only). by the way… Read More
Will a bond's yield to maturity increase or decrease when the bond become subordinated to another debt issue?
The yield to maturity will most likely increase because the bond will be considered more risky. This means investors will demand a higher yield to own it. Of course, the yield to maturity will only be higher if all the payments are actually made and the bond doesn't default.
Debt maturing in more than 1 year is often called FUNDED debt.
senior prom, it's in general seen as more important.
Federal income taxes due in an amount certain 3 years or more before the bankruptcy filing date can be discharged along with other dischargeable debts. You cannot just file to discharge the taxes, unless you have no other unsecured debt.
Senior housing can be altered to make it more appropriate for senior citizens in many ways, the doors can be widened for disabled use, a stair lift can be fitted and the bathroom can be made into a wet room.
What happens when parents die and their debt is more than the assets by over 60000 in credit card debt and is this debt cancelled?
the debt dies with them... you owe nothing
If they have enough equity in the property and have enough income to take on more debt. If they have enough equity in the property and have enough income to take on more debt. If they have enough equity in the property and have enough income to take on more debt. If they have enough equity in the property and have enough income to take on more debt.
Equity holders want 16 percent on their investment whereas debt holders only require 8 percent . I would be crazy to expand using equity since debt is so much cheaper?
Depends very much on your business and the terms within each of the offerings. If your debt deal is simply preferred stock then its a great deal, however if its something more like a Senior Debt (Bond or Note) then it might have more costs on the back side of the deal. Debt typically will have a term of repayment, fixed or adjustable rate of return or coupon, held senior to all other debts and… Read More
If you are behind on your home mortgage, and you want to keep your home; or if you owe back tax to the IRS, then chapter 13 would probably serve you better. However, it is more complicated, and each month you must pay your disposable income toward a debt adjustment plan. If you just want to get a discharge from all debt, and you don't mind losing any property that serves as collateral for a… Read More
From my opinion, when a person has entered a club or an organization for 2 years or more, he or she is called a senior.
Senior citizens are allowed to participate in health clubs and now more than ever more and more seniors are participating. In some areas there are even special health clubs that cater to senior citizens and their needs.
Many credit card companies are hesitant to issue unsecured credit cards to those with a credit score of 650 or less. Some companies are more stringent than others.
150 is a larger debt. It means you owe more.
Examples: If you spend more money than what you have, that is how you get in debt.
The difference between Senior housing and a nursing home is Senior housing everyone has their own house but in a nursing home it is more of a hospital type building. Senior Housing is usually the preference for most individuals but usually is a bit more expensive.
This depends. If you are looking to simply borrow money from a lending institution to payoff debts then yes it could provide you more cash flow in the form of lower payments. However, this requires strong credit and or potentially some collateral. If you are looking to free up some cash flow by using a debt counseling service then you may be able to consolidate some of your high interest unsecured debt (credit cards) by… Read More