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If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Wiki User
∙ 9y ago
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
Wiki User
∙ 9y ago
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Has davids bridal filed bankruptcy?
No, they're still in business.
Is Iraq still in bankruptcy?
yes
If you file bankruptcy but still have some credit cards with a zero balance on them will you still be able to keep them or will they automatically be closed?
If you have credit accounts in good standing then do not include them in your bankruptcy.
Can you reinstate a dismissed bankruptcy?
If you have come through a bankruptcy you have been through quite a bit. It is important to know that if your bankruptcy was dismissed, it may still be reinstated at a later date.
What is a reaffirmed loan?
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
If you have a promissory note from a person who filed for bankruptcy in Texas can you still recover the money you were owed?
No. In fact, if the debt is paid after a bankruptcy has been filed the entire bankruptcy can be considered invalid and all other debtors will be able to demand payment.
Has davids bridal filed bankruptcy?
No, they're still in business.
Is Washington Mutual still in business or did it fail during the housing crash?
Washington Mutual is still in business although a lot of people are not happy with them or the way they do business. They have filed for bankruptcy but are still doing business.
Can a small business owner file for bankruptcy and still protect their assets?
Probably not
Shipping product after a company claims bankruptcy?
You can still ship a product to a company after they claim bankruptcy. They still have funds to continue running the business if they are doing a reorganization. If the company does not exist anymore, it would not be wise to ship to them.
When can you file bankruptcy after you have paid off a bankruptcy?
When you filed for the bankruptcy, you are also declaring total surrender of the business to the hands of creditor. Although, you can still maintain rights of the company, for the sake of proper decorum, it is advised to allow the bankruptcy trustee to work on the survival of the company.
What happens to a loan if a finance corporation files for bankruptcy?
Nothing spectacular happens. And you are still liable for the loan payments. Most bankruptcy filings are for Reorganization, not for 'going-out-of-business'. The 'filing' of bankruptcy is done in a Bankruptcy Court. A judge oversees the orderly progression of the bankruptcy. If the finance corporation has filed for reorganization, then you will continue paying them -- because they are not going out of business Otherwise, your loan and every other loan will be sold to another financial institution -- and you will pay that new company. No matter what, you still have to pay the full amount of your loan.
Can you declare bankruptcy on your mortgage in californiat?
Yes, your obligation under the promissory note will be discharged, however, the security interest will remain. This means the lender can still foreclose on the property if payments are not made. If you plan to surrender the property to the lender, then this isn't an issue.
What if the person dies and you have a promissory note with them do you still have to pay?
Yes, their 'estate' is still owed the money.
Is Border books still in business in Washington state?
Yes. Border Books is currently open in 9 stores which are still located in Washington State. Border Books is preparing to close the stores that still remain open because they are in bankruptcy; but as of now, they are still in business in Washington State.
Ex husband is filing for bankruptcy do you still have to pay child support for your 19 year old son?
In general, child support is based on net income - child support obligations are not discharged in bankruptcy.
If you sign a promissory note for a down payment on a car and they do not sell you the car is the note still valid?
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
