debt relief agency
- debt relief agency
Any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration. Does not include nonprofit organizations, creditors of assisted persons, depository institutions, or authors, publishers, distributors, or sellers of works subject to copyright protection.also see assisted person (Bernstein's Dictionary of Bankruptcy Terminology)Under Title 11 U.S.C. Section 101:(12A) The term "debt relief agency" means any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration, or who is a bankruptcy petition preparer under section 110, but does not include—(A) any person who is an officer, director, employee, or agent of a person who provides such assistance or of the bankruptcy petition preparer;(B) a nonprofit organization that is exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986;(C) a creditor of such assisted person, to the extent that the creditor is assisting such assisted person to restructure any debt owed by such assisted person to the creditor;(D) a depository institution (as defined in section 3 of the Federal Deposit Insurance Act) or any Federal credit union or State credit union (as those terms are defined in section 101 of the Federal Credit Union Act), or any affiliate or subsidiary of such depository institution or credit union; or(E) an author, publisher, distributor, or seller of works subject to copyright protection under title 17, when acting in such capacity.
United Glossary of Bankruptcy Terms 2012.
- debt relief agency
Any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration. Does not include nonprofit organizations, creditors of assisted persons, depository institutions, or authors, publishers, distributors, or sellers of works subject to copyright protection.
also see Assisted Person
US Bankruptcy 2012.
Glossary of Bankruptcy.
Look at other dictionaries:
debt relief agency — Any person or company including lawyers and bankruptcy petition preparers, but excluding banks, nonprofits, and government agencies that provides advices, information, counsel, document preparation, or other services to a person who is… … Law dictionary
Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… … Wikipedia
Debt settlement — Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. Debt settlement is… … Wikipedia
relief — re‧lief [rɪˈliːf] noun 1. [uncountable] when a bad situation is reduced or stops for a time: • Any sign of relief from price pressures will be welcome news for the economy. 2. money, food, clothes etc given to people who are poor or hungry: • a… … Financial and business terms
Debt evasion — is the intentional act of trying to avoid attempts by creditors to collect or pursue one s debt. At an elementary level, this includes the refusal to answer one s phone by screening one s calls or by ignoring mailed notices informing the debtor… … Wikipedia
Debt restructuring — is a process that allows a private or public company – or a sovereign entity – facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it… … Wikipedia
Debt — For other uses, see Debt (disambiguation). Personal finance Credit and debt Pawnbroker Student loan Employment contract … Wikipedia
Debt of developing countries — The debt of developing countries is external debt incurred by governments of developing countries, generally in quantities beyond the governments political ability to repay. Unpayable debt is a term used to describe external debt when the… … Wikipedia
Debt buyer — A debt buyer is a company, sometimes a collection agency or a private debt collection law firm, that purchases delinquent or charged off debts from a creditor for a fraction of the face value of the debt. The debt buyer can then collect on its… … Wikipedia
Debt levels and flows — Public debt as a percent of GDP (2010) … Wikipedia