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Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared.
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∙ 14y ago
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When should a stockholder receive payment if a company declares bankruptcy?
A stockholder should receive payment only after the claims of the creditors have been paid off if that company declares bankruptcy.
What happens if you consigned for real estate and the person declares bankruptcy?
You need to consult a nearby personal bankruptcy attorney that has experience in working with creditor's privileges.
When a person declares bankruptcy that fact will appear on the persons credit report how long?
for a 10 year period
When a person declares bankruptcy tghat fact will appear on the persons credit report?
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If you are a secondary card holder and the primary card holder declares bankruptcy how does that affect your score and what if you cancel your account before he declares bankruptcy?
If the BK filer is allowed to discharge the debt a joint account holder who is not a party to the bankruptcy becomes solely responsible for the entire amount. Cancelling or closing the account will not change the fact that the person will still owe the debt and it will eliminate the possibility of said person to negotiate terms with the lender if it becomes necessary. If the joint account holder continues to meet the required terms of the account agreement his or her credit score will not be negatively affected.
When should a stockholder receive payment if a company declares bankruptcy?
A stockholder should receive payment only after the claims of the creditors have been paid off if that company declares bankruptcy.
Does a student loan need to be repaid after a school declares bankruptcy?
Yes.
Is a primary borrower's mortgage or credit affected when the co signer on a loan declares bankruptcy?
no
What happens when a cosigner declares bankruptcy-not the primary owner?
Nothing unless they filed on your loan.
If an LLC declares bankruptcy how are owed employee wages handled?
If an LLC declares Chapter 11 bankruptcy the employees wages will continue to be paid as normal. However, under a Chapter 7 bankruptcy, the employees are listed as creditors, and wages are paid out with other creditors from any remaining assets, if any remain.
What happens if you consigned for real estate and the person declares bankruptcy?
You need to consult a nearby personal bankruptcy attorney that has experience in working with creditor's privileges.
What is meant by student loan bankruptcy?
Student loan bankruptcy happens when a student has not been a student for the last 7 years and declares bankruptcy. For more information please contact a student loan office.
When a person declares bankruptcy that fact will appear on the persons credit report how long?
for a 10 year period
If a bank declares bankruptcy how is a loan protected?
Someone will buy the loan from the bank. Unfortunately, they don't just go away.
What typically happens to ones retirement if a company declares bankruptcy?
If a company manages its own retiements system, the funds of the system are lost if the company declares bankruptcy. In the United States there is a system for insuring retirement systems, but the payout to individuals is generally much less through insurance than would have been provided by the retirement system itself. If a company has its employees contribute to a retirement system managed by a third-party provider, those employees who are vested in their accounts may not loose them if the employer declares bankruptcy.
When a person declares bankruptcy tghat fact will appear on the persons credit report?
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How hard is it to get credit after bankruptcy?
It is quite difficult to get credit after bankruptcy because after one declares bankruptcy one has to be significantly behind one ones bills to be able to do so. However after this one should be able to build their credit back up by paying things on time and not applying for loans.
