What Does Execution of Judgment Mean in Legal Terms?

Some states provide a notice period, allowing debtors to contest the levy if they believe the seizure is unwarranted or if the funds are exempt. Common exemptions include Social Security benefits, veterans’ benefits, and child support payments. Asset Seizure

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Cramdown in Chapter 13 Bankruptcy - babilegalgroup.com

Cramdown is a powerful tool available to debtors in Chapter 13 bankruptcy, offering the potential to reduce certain debts. This process primarily applies to secured debts, such as car loans or mortgages, allowing debtors to modify the terms and payments to align with the fair market value of the collateral.

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Top 10 Strategies for Effective Debt Collection in 2025

Allowing debtors to choose from various methods—like credit cards and digital wallets—can significantly enhance the payment experience. This convenience encourages timely payments and reduces friction in the collection process. 5. Implement Self-Service ...

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Individual Voluntary Arrangement - HKDRS 香港債務重組服務中心

Debtors should note that adherence to the terms of the approved IVA is crucial. Any default could lead to the failure of the IVA and could potentially push the debtor towards bankruptcy. Hence, it’s always advised to stay informed and maintain open communication with the nominee throughout the tenure of the IVA.

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Cram Down in Chapter 13 - Riverside County Bankruptcy Lawyer Blog

A “cram down” in bankruptcy refers to a legal process used primarily in Chapter 13 bankruptcy cases, allowing debtors to reduce the principal balance of a secured debt to the asset’s current market value. If you owe more on a loan than what the property (like a car ...

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G.R. No. 204700. November 24, 2014 (Case Brief / Digest)

– The Court confirmed that Article 1634 applies, allowing debtors to extinguish a debt by reimbursing the assignee for what was paid for the loan. Additionally, as per Section 13 of the Special Purpose Vehicle Act, the provisions on subrogation and assignment of credits under the Civil Code apply, supporting the petitioners’ right to redeem.

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How Does An Automatic Stay Work In Bankruptcy? - SBAGK LLP

What you need to know if you are thinking of filing for bankruptcy. It is important to understand that the federal bankruptcy law was enacted for the purpose of allowing debtors who are unable to meet their financial obligations to “restart.” When you file for bankruptcy an automatic stay is initiated. An automatic stay is

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Greedy Ltd is considering a proposa - I Love Translation

Greedy Ltd is considering a proposal to change its credit policy form allowing debtors credit of 2 months to credit of 3 months. Sales are currently $600,000 p.a. and as a result of the proposed change will increase by 15%. The contribution/sales ratio is 20% and the

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Chapter 7 Bankruptcy Exemptions: What Are They and What Happens if You Don’t Claim Them? - Upsolve

By allowing debtors to keep their homes, cars, and other belongings, exemptions ensure that bankruptcy filers get a fresh start, financially speaking, and can move forward as productive, debt-free citizens. Exemption laws are very effective at achieving this goal.

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Unfair Preference Payments in Bankruptcy - Chamberlains

This law has been developed to try to ensure that all creditors are treated equally by not allowing debtors to ‘pick favourites’. Once a Trustee in Bankruptcy can establish that an unsecured creditor has been paid in preference to others, they can seek to void that transaction and recover the proceeds or other assets for the benefit of all unsecured creditors.

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