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(Sharif is an expert bridge player, and he has amassed enormous gambling debts over the years).
It could instead choose to repay those depreciating debts over time.
It promised to focus on cuttings debts over the next two years.
What it does: Filers with debts over about $1.2 million are barred from Chapter 13.
This could involve private bondholders agreeing to roll Greece's debts over and governments helping Greece buy back its bonds.
Many councils will, on two months' arrears, seek permission from a magistrates' court to pass such debts over to bailiffs.
Such agreements allow companies to pay off their debts over a fixed period of time but remain in business.
That Chapter permits individual debtors to develop a plan to repay all or a portion of their debts over a period of time specified in the plan.
That's because, they say, "maintaining motivation to eliminate debts over a long time horizon might necessitate small wins along the way".
Similar(2)
"We cannot pile debt over debt".
They can just roll the debt over.
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