The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
the corporation
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them
According to my opinion, if a bank goes out of business or becomes bankrupt then credit card cannot continue to charge interest . Because now bank has no rights to give and take money from anyone.
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
I have a claim on a car insurance policy with AIG. What are the chances of this claim being met?
It means a bank goes out of business or goes bankrupt.
the corporation
The corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
Nothing.
It can not pay its employees or pay for its services.
Federal Deposit Insurance Corperation a dept. of the federal reserve that insures bank deposits up to 250,000 in the event of a bank run,pre 2009 recesion it was only insured up to 100,000
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
According to my opinion, if a bank goes out of business or becomes bankrupt then credit card cannot continue to charge interest . Because now bank has no rights to give and take money from anyone.
it goes to a blood bank
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
I have a claim on a car insurance policy with AIG. What are the chances of this claim being met?