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Clients entering such a plan must have a monthly surplus of income to enable them to repay a certain amount of their unsecured debt each month.
This is important because a counselor will come up with a plan where you will repay a certain amount every month.
They are done in a context of uncertainty: when the debtor promises to repay a certain amount in the future, everyone understands that the promise is contingent on the debtor's capacity for repayment.
Similar(54)
After Argentina defaulted on about $100bn £61.5bnn) of debt in 2001, the country negotiated a settlement with the majority of its bondholders to repay a certain portion of the amount owed.
We compromise a certain amount.
We sell out a certain amount.
A certain amount of sigh in it.
But a certain amount of unease remains.
There is a certain amount of selling.
A certain amount of it is automated.
They need a certain amount of freedom.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com