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What else can I help you with?
In the State of Arizona is it legal for creditors to contact a debtor on Sunday?
Yes, there are not laws which prevent a creditor or debt collector from contacting a consumer/debtor on Sundays or holidays. The creditor may not contact the person at any "unusual time" the designation of such generally being before 8:00 a.m. and after 9:00 p.m.
Can creditors call you at work in California?
Yes, but after the initial contact the debtor can request not to be contacted at his or her place of business. If the creditor/collector continues to contact the debtor at their place of employment they are breaking FDPA laws and should be reported.
Are assets claims of creditors?
No, assets are not claims of creditors; rather, assets are resources owned by an individual or entity that have economic value. Creditors hold claims against those assets in the form of debts or obligations owed to them. When a debtor defaults, creditors may seek to recover their claims by accessing the debtor's assets, but the assets themselves belong to the debtor until such actions are taken.
What chapter proceeding the debtor surrenders his nonexempt property for division among his creditors?
The chapter that typically follows a debtor's surrender of nonexempt property for division among creditors is Chapter 7 bankruptcy. In Chapter 7, a trustee is appointed to liquidate the debtor's nonexempt assets to pay off creditors.
The debtor surrenders his nonexempt property for division among his creditors?
liqidation
What is mora creditors?
the failure of creditor to accept proper performancewhen tendered by the debtor
When do you stop paying your creditors once you have retained a bankruptcy attorney?
The debtor should cease payment of creditors when they decide they are going to file for bankruptcy.
Can the bankruptcy court confirm the debtor's plan of reorganization?
A court can confirm a plan if that plan proposes to pay secured and priority creditors in full and unsecured creditors an amount that is fair and equitable. Thus, even if creditors do not vote in favor of the plan, the court can confirm it as long as it is fair to those creditors. The reasoning is that the court knows what is best and will not allow creditors to thwart the ultimate purpose of the code which is to provide for creditors what is fair based upon the financial circumstances of the debtor
Is it legal for a lender to contact members of the debtor's family and inform them they are trying to locate the person about a defaulted vehicle loan?
Yes. The FDCPA allows creditors to contact the debtor's parents, siblings and in some cases other relatives. The family members, however, have no legal obligation to give the creditor/collector information or to even speak with them, unless they so choose.
What does a trustee do in Chapter 7 bankruptcy proceedings?
In Chapter 7 bankruptcy proceedings, a trustee is responsible for overseeing the liquidation of the debtor's assets to repay creditors. They review the debtor's financial information, sell non-exempt assets, and distribute the proceeds to creditors.
When do suppliers become creditors?
When a debtor lends money to someone else, he becomes a creditor. noura.
What regarding bankruptcy is not true?
Creditors must always eliminate the debt owed by the debtor when there is a bankruptcy.
