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There has been a long standing legal argument if a government can go BK.
Recent cases and changes to the BK laws make it clear it is possible.
However, it is much more likely one would default on a specific debt and issue new bonds/debt to cover it...perhaps losing some State assets in the process.
What else can I help you with?
Can you work after you declare bankruptcy?
Yes, you are not required to be unemployed to declare bankruptcy.
When is it necessary to declare bankruptcy?
It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.
Is it possible to just declare bankruptcy on credit cards?
You can declare bankruptcy due to credit card debts, yes.
How often can you declare Chapter 7 bankruptcy?
You can declare Chapter 7 bankruptcy once every 8 years.
Did the US declare bankruptcy?
No
How long after the first bankruptcy you can declare a second bankruptcy?
It takes seven to ten years after you initially declare bankruptcy for it to drop off your credit report, and you really should wait at least 1-2 years after that to declare again I hope that helped.
What is the largest US city to declare bankruptcy?
As of June 29, 2012, it is Stockton, California. Stockton is the 65th largest city in the US with a population of 291,707.
Did Iceland declare bankruptcy?
wanna do city
Can an elected official declare bankruptcy?
Yes
When did the United States declare bankruptcy?
In 1933
Who should be aloud to declare bankruptcy?
he goverment
Can you just declare bankruptcy on your home?
No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.
