Absolutely! Thier, or anyones, filing of BK only MAY effect how/when of if they have to handle debts THEY owe...it doesn't change your legal obligations to them...except maybe in that the Federal court and creditors will act quickly and forcefully to collect any debt (to secure any asset) that the company may have to assure it is vailable to pay the debts of the company.
how can i find out how much money i owe the gas company?
I would like to know the answer to that as well They owe our company lot of money, and we cannot locate them. I understand wine.com has filed a suit against them.
If you owe it to him personally, then no. If you owe it actually to the company, then yes.
No, you can reaffirm it and continue to pay your obligation.
Yes. The trustee in bankruptcy will take over collection of the company's accounts receivable. These are assets of the bankrupt estate that must be managed. Even if the bankruptcy is a complete liquidation (Chapter 7) the assets have got to be collected and paid to the individual creditors of the company.
no you dont
No...their filing protects & effects THEM - and those THEY owe, not those that owe them. In fact the court along with the creditors of the company is now involved with aming sure all assets owed the company are collected and used to pay it's obligations.....hence where as before you only had the Cos collections to deal with, now you have many parties interested in making sure you pay. And - consider if your thought was at all true - if you filed BK then your employer, or bank, or investment/IRA accounts, etc don't have to pay you.
Yes you will. The company's accounts receivable (that's you) will be collected to pay their outstanding debts.
No they can not send you collection for the money they think you owe them , they must send you a notice or a letter first.
Its the money a company collects from people who owe them money. They recieve the payment and verify it.
Either way they will want a tax return filed before filing for chapter 13. If you are expecting a refund then they will seize it if it is after so to keep the money file first and wait for the return, it will be considered as part of your income. If you owe it is better to know the amount before filing.
If the policy was still in force and the insured has died, then yes, the insurance company would owe the death benefit. If the policy was cancelled or surrendered, the company would not owe anything.
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 you owe them money they don't have to give you anything until you complete your end of the deal
Accounts payable on the balance sheet is the amount of money the company owes its vendors from invoices the company has received from them (and assuming the company agrees they owe the money)
Probably...at least the amount relative to income made PRIOR to the filing.
Discuss this with your trustee.
Creditors - are people you owe money to... whether that's a credit card company, a utility company or your friends !
They are declaring themselves bankrupt - which means they do not have enough money to pay what they owe. You are one of their creditors and should tell the court that you are and what you are owed. Sad to say, it is unlikely that you will get paid anything!
Creditor is a person from which we purchased goods on credit. It is the liability of company and creditors are shown in liability side of balance sheet.A creditor is a person who is owed money, but not necessarily one who lends money. If you go into your local diner, order a meal and eat it, but then don't pay, the situation becomes clear; the owner is not a money lender, but he is your creditor.If you owe money, then your creditors are all the people you owe. Your debtors are all those that owe money to you.Someone you owe money to
Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company
Yes. Unpaid accounts with a company that has filed for bankruptcy are still collectible. Outstanding accounts become part of the bankruptcy proceedings.
No, they will pay the claim to you and then you will be able to do what is fiscally responsible.
If tickets were discharged after filing for bankruptcy then someone would not owe on these debts.