Paper money.
Paper money.
Paper Money
Paper Money
You have to pay them before any of the estate can be distributed to the heirs. If there isn't enough, the debtors are out of luck.
You monthly payment on a loan is largely based on your monthly income. usually you are expected to pay 15% percent of you income to you debtors or creditors.
That is one of the primary purposes of creating an estate. The executor has to contact all known debtors and advertise for unknown debtors. There has to be a method for these debtors to contact the executor to place their claims.
Each Chapter 13 planis different. I have seen Chapter 13 plans pay nothing to unsecured creditors and I have seen plans that pay 100$ to the unsecured creditors. Most cases are much less than 50%. It just depends on how much income is left for plan payments and how much debt the debtor has.
Chapter 7 bankruptcy protects you from creditors and sells your non secured assets to pay the creditors that you owe. If you do not own an assets, you will not have to pay the creditors and the debt will be forgiven.
A Letter of Credit can be issued in the Philippines as a way to ensure that payment will be made to creditors. If the beneficiary does default on his payment, his bank will pay his creditors what is owed.
Because a man by the name of James Oglethorpe offered to pay the debtors and poor people to travel to Georgia. Sounds like a bad idea...
The creditors' payment period is an activity ratio. It measures the average amount of days the business takes to pay its creditors i.e. suppliers. The more days available to pay the better.
When you don't pay for it.