Judgment creditors ( those who have received a favorable court ruling for monetary damages ) are permitted to ask questions about a debtor's residence ; recent employment history ; business relationships, including partners, co-shareholders, co-officers, co-directors ; the contents of a will ; transfers of property ; and the identity of persons who either owed a debt to the judgment debtor, or received things of value from the debtor.

A risk-free rate is also commonly used in setting floating interest rates, which are usually calculated as the risk-free interest rate plus a bonus to the creditor based on the creditworthiness of the debtor ( in other words, the risk of him or her defaulting and the creditor losing the debt ).

* Deed of arrangement-document setting out an arrangement for a debtor to pay part or all outstanding debts, as an alternative to bankruptcy ; ( Australian law ).

* Judicial practices: Some argue that much of the problem arises from a tendency of the courts to favor lenders, and to shift the burden of proof of compliance with the terms of the debt instrument to the debtor.

It was more similar to the modern enforcement of sentences ( Strafvollzug ) e. g.: the debtor would be able to work off their debt for a certain amount of days, gradated by how much they owed.

" Abstract of judgment " is a written summary of a judgment which states how much money the losing defendant owes to the person who won the lawsuit ( judgment creditor ), the rate of interest to be paid on the judgment amount, court costs, and any specific orders that the losing defendant ( judgment debtor ) must obey, which abstract is acknowledged and stamped so that it can be recorded and made official with the government.

The first difficulty the Trade and Projections Branch staffs encountered was the lack of information on external debt of debtor countries: they did not know how much they owed, to what countries and what creditors, in what currencies the loans had to be repaid, when the payments were falling due and who the national debtors were.

Where the property remains in the hands of the debtor, some further step must be taken, like recording a notice of the security interest with the appropriate office.

In some areas ( like Nürnberg ) the debtor could sell or redistribute their debt.

However, most plans to forgive debt affect only the smallest nations, and large debtor nations, like Nigeria, are often excluded from such plans.

A person or debtor can declare himself or herself bankrupt by lodging a debtor's petition with the Official Receiver, which is the Insolvency and Trustee Service Australia ( ITSA ).

A typical proposal would involve a debtor making monthly payments for a maximum of five years, with the funds distributed to their creditors.

A consumer proposal can only be made by a debtor with debts to a maximum of $ 250, 000 ( not including the mortgage on their principal residence ).

Contractually there is often no bar to a debtor clearing his long term debt with " hyperinflated-cash " nor could a lender simply somehow suspend the loan.

However, as Sudan became the world ’ s largest debtor to the World Bank and International Monetary Fund by 1993, its relationship with the international financial institutions soured in the mid-1990s and has yet to be fully rehabilitated.

As with Strategic default when a debtor chooses to default on a loan sovereign borrowers such as nation-states also can choose to default on a loan.

The debtor still has to fill in each bankruptcy form separately as they would with paper forms and the debtor still has to grapple with the complexity of bankruptcy law.

In bankruptcy software, the debtor interacts with the software through a web page and is shielded from the actual bankruptcy forms and from the intricacies of bankruptcy law.

Under this test, any debtor with more than $ 182. 50 in monthly disposable income, under the formula, would face a presumption of abuse.

The new notice provisions require the debtor to give notice of the bankruptcy to the creditor at an “ address filed by the creditor with the court ,” or “ at an address stated in two communications from the creditor to the debtor within 90 days of the filing of the bankruptcy case.

So then the debtor would run to the court of equity, plead that there was an unconscionable forfeiture about to occur, and beg the court to grant an equitable decree requiring the lender to surrender the property upon payment of the secured debt with interest to date.

The creditor will place a lien on the debtor ’ s real and personal property ( by recording the judgment with the county recorder ’ s office or entering it with the Secretary of State ), and the lien will be satisfied when the property is sold by the debtor or foreclosed upon by the creditor.

A typical Ferengi prayer begins with this phrase: " Blessed Exchequer, whose greed is eternal, allow this bribe to open your ears and hear this plea from your most humble debtor.

Inflation has been a contentious political issue on this basis, with debasement of currency a form of or alternative to sovereign default, and the free silver in late 19th century America being seen as a conflict between debtor farmers and creditor bankers.

* general lien — a possessory lien by which the lien holder may retain any of the debtor's goods in the lien holder's possession until any debt due from the debtor, whether in connection with the retained goods or otherwise, has been paid.

Upon the execution of such a deed, title passes to the grantee or beneficiary ( usually lender ), however the grantor ( debtor ) maintains equitable title to use and enjoy the conveyed land subject to compliance with debt obligations.

The Exchequer became the first " tax court ", where the king was the plaintiff and the debtor the defendant.

There are several problems: 1 ) to find the county where the loser owns real estate property ; 2 ) the probability that there are secured loans, tax liens and / or other judgments that come ahead of the judgment lien ; 3 ) the possibility that the loser / debtor may go bankrupt and avoid paying the debt.

A closed bankruptcy may be reopened by motion of a creditor or the U. S. trustee if a debtor attempts to later assert ownership of such an " unscheduled asset " after being discharged of all debt in the bankruptcy.

This is most commonly done for non-recourse loans, where the creditor cannot make other claims on the debtor ; a common example is a situation of negative equity on a mortgage loan in common law jurisdictions such as the United States, which is in general non-recourse.

There are also other features that minimize risk, such as a " sinking fund ," which means that the debtor must pay some of the value of the bond after a specified period of time.

Like other secured debts, the debenture gives the debtor priority status over unsecured creditors in a bankruptcy ; however debt instruments where security is pledged to specific assets ( such as a bond ) receive a higher priority status in a bankruptcy than do debentures.

These are corporations temporarily in possession of the Government as a result of a seizure of property of a debtor to the Government, such as a delinquent taxpayer.

In a mortgage by legal charge or technically " a charge by deed expressed to be by way of legal mortgage ", the debtor remains the legal owner of the property, but the creditor gains sufficient rights over it to enable them to enforce their security, such as a right to take possession of the property or sell it.

The political platforms of the Working Men's Parties included such planks as state-supported public education, universal male suffrage, protection from debtor imprisonment and compulsory service in the militia, and shorter working hours.

In this " power-of-sale " type of foreclosure, if the debtor fails to cure the default, or use other lawful means ( such as filing for bankruptcy to temporarily stay the foreclosure ) to stop the sale, the mortgagee or its representative conduct a public auction in a manner similar to the sheriff's auction.

If the condition was not fulfilled, the interest of the mortgagee became absolute, and Littleton gives no indication of any modification of this strict rule, such as was introduced by courts of equity, permitting the debtor to redeem his land by payment of all that was due to the mortgagee although the day of payment had passed, and his interest had become, at law, indefeasible.

In an insolvency context, in particular in relation to an Individual Voluntary Arrangement, the efficacy of such an arrangement is judged by the extent to which it is achieving its aims of getting money in to pay to the creditors of the debtor.

If the debt owed becomes beyond the possibility of repayment, the debtor faces insolvency or bankruptcy ; in the United Kingdom and some states of the United States until the mid-19th century, debtors could be imprisoned in debtor's prisons, while in some countries such as Greece the practice of imprisoning debtors is still practiced.

A person may be prohibited to exit a country on a number of reasons, such as being under investigation as a suspect, serving a criminal sentence, being a debtor in default, or posing a threat to national security.

When a creditor has two debts due to him from the same debtor on distinct accounts, the general law as to the appropriation of payments made by the debtor is that the debtor is entitled to apply the payments to such account as he thinks fit ; solvitur in modum solventis.

The Quranic term is not limited to money but as well includes all loan transactions in which the debtor returns a sum of goods in excess or above the original loan, be it money, eatable or any other item or goods ; anything in excess of original is considered riba if items exchanged are of the same kind ( such as gold for gold ).

* Essential household items which the debtor and their family require such as clothing or bedding

Debtors may fail to pay ( default ) for various reasons: because of a lack of financial planning or overcommitment on their part ; due to an unforeseen eventuality such as the loss of a job or health problems ; dispute or disagreement over the debt or what is being billed for ; or dishonesty on the part of either the creditor or the debtor.

The debtor may be either a person or an entity such as a company.

Collectors may contact a debtor at the workplace unless the collector has been informed the employer prohibits such calls, in which case the collector must cease all calls to the debtor's workplace immediately.

In such cases the alleged debtor can require that the collector or creditor prove that the debt is payable — in no jurisdiction does a debt exist merely because a collector says so.

The section on surety lays down the rules if a person acts as mach or surety, for example for a debt, and gives the provisions for various cases, such as where the debtor refuses to pay or denies the debt and where the surety denies the suretyship or contests the sum involved.