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I am not an attorney. But my thought is, yes of course. You still have a debt and you made an arrangement to pay it back. The company still has assets in the form of outstanding debt, and these assets will be used to pay the company's own debt. If I were one of the company debtors, you can be sure I'd be expecting people to pay the company what is rightfully owed. Again, I am not an attorney.
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∙ 15y ago
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If your company is owed money from a company that goes into Chapter 11 what do you need to do?
If a company goes into a Chapter 11 owing your company money, you need to submit a claim to the bankruptcy court yesterday.
Is it difficult to repair credit after a bankruptcy?
Yes, it is very very difficult to repair credit after a bankruptcy. Once an individual or a company goes to bankruptcy, then all of the belonging of them are taken by the bank & thus there is nothing left to repair with.
What is the MBT bankruptcy sale?
The MBT bankruptcy sale is a sale on Switzerland watches. Currently the sale offers 60 to 70% off all MBT items as the company goes out of business.
What exactly is bankruptcy?
Bankruptcy is the total or partial abolishment of debts after a formal filing with the government by either an individual or a company. If bankruptcy is granted, banks are able to liquidate assets-barring ones that are exempt-and possibly garnish wages. Credit scores are also severely hit by bankruptcy. The article below goes into more detail on the specifics of bankruptcy.
I received a weekly paycheck as a owner of a company can i still collect unemployment if our company goes bankrupt?
Unemployment benefits are paid by your state, so benefit checks will not be effected by bankruptcy.
Does a person paying crimina restitution criminal to a company continue to pay if the company goes bankrupt and no longer exists?
You will still owe the restitution to SOMEONE. In any bankruptcy there is a receiver who handles the apportionment of debts and assets. Your restitution payment would be considered an asset to the bankrupt company and, unless the bankruptcy court discharged your debt, you would probably have to continue to pay the full amount due.
Which of these about bankruptcy is false A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy D All of these?
ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy
If judgment goes to bankruptcy will it be removed?
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
If Chrysler goes bankrupt how will this affect your lease from Chrysler Leasing?
It is now out of bankruptcy,
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
What happens to put options when a company goes bankrupt?
What happens is the put writer gets hosed. If a company goes into Chapter 7 bankruptcy, all its stock becomes worthless. Unfortunately for the people who wrote put options on the company's stock, those do NOT become worthless. If the put buyer decides to exercise the option - and he will - the writer has to buy all those shares of worthless stock at the strike price.
What is the use of a corporate bankruptcy attorney?
The use of a corporate bankruptcy attorney is to assist in the legal proceeding of filing for bankruptcy for a corporation. An attorney is necessary to make sure the process goes smoothly and everything is taken care of.
