Yes but when trying to do so you should understand that you will have to pay the creditors something until the debt is settled and it is best to get a 3rd party to mediate and negotiate the deal.
Alternatively you could go bankrupt - and that would void the debts BUT with a serious blemish to your future creditworthiness.
Why a business have creditors
Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)
500 crores
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
Firms will owe their creditors a debt and usually some type of interest.
Sure, you can always negotiate- but your creditors are not bound to deal with you.
Attorneys deal with consumer credit regulation, including attachments, garnishments, assignments for the benefit of creditors, judgments, and bankruptcy.
Sundry creditors a/c dr to proprietors personal a/c cr
yep its returns
creditors journal
Credit lawyer is an accredited lawyer who helps people to deal with their debts and sort their financial troubles. He can serve as both,a negotiator in debt-related problems with creditors and help to deal with lawsuits.
creditors' circulization
creditors have debit balances as advances receive from creditors..........
Make the Deal was created on 2003-08-25.
The decedent's estate must be probated if they owned any property. Creditors can make claims against the estate. The creditors must be paid before any of the assets can be distributed.
duties of a creditors clerk
Why a business have creditors