Assertion: bankruptcy's debt | /r/HasProperty | paid
Facets:
value: from proceeds
type: OTHER
value: next
type: DEGREE
value: usually
type: DEGREE
Source sentences:
text: It is not the same as insolvency, which is inability to pay debts that should have been paid.
text: Once the payment plan is complete, your qualified debts will be considered paid off.
text: Unsecured debt will be paid out of what remains after the payment portion for priority debts and secured debts are covered.
text: Therefore, if the debtor wishes to retain the property, the debt must usually be paid for as agreed.
text: 3 months if the debts were paid in full or an IVA has been agreed
text: That usually involves selling assets to pay the creditors and erasing debts that can’t be paid.
text: In Chapter 7 bankruptcy, the absolute priority rule stipulates the order in which debts are to be paid.
text: Next, secured debts are paid.
text: Under Chapter 13, unsecured debt takes last priority and usually does not have to be paid back.
text: If your assets have been sold and all your costs, fees, expenses and preferential debts (such as certain tax debts) have been paid, it is possible for you to be discharged from bankruptcy even if you have not paid all of your debts.
text: When you are discharged from bankruptcy on grounds 1 to 3 above, any money or property remaining in your estate is returned to you, provided all the costs, court fees, expenses and preferential debts of bankruptcy are paid.
text: you can request the court doesn’t proceed with your bankruptcy but you will need to guarantee the debt will be paid.
text: These debts are included in your bankruptcy, but will only be paid from proceeds if the contingency actually arises.
text: The debts the organization incurs during the proceedings, however, are allowed to be paid.
text: For Chapter 11 bankruptcy, any debt forgiveness is typically granted after all reorganized debts have been paid in full.
text: Once the court decides how an insolvent debtor will deal with unpaid obligations, the organization is required to carry out the plan, whether that means selling additional assets or establishing payment plans for vital debts that must be paid.
text: Debts you can't discharge, such as secured debts, alimony and most back taxes, have to be paid in full, while unsecured creditors receive only partial payment.