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How does a client get their money back if the business files for bankruptcy?
Wiki User
∙ 14y ago
It depends on the chapter they filed and the financial state of the company, most likey not, that is why the filed for bankruptcy, they have no funds.
Wiki User
∙ 14y ago
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What happens when a business is owed money by a company that files for bankruptcy?
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Typically when a business is owed money by a company that files for bankruptcy the business will...?
It SHOULD file a claim with the court to be paid...and it will wait in line and be paid in accord with how the BK progresses...maybe all, maybe some small portion of what it is owed...depending on the situaton of the co that went BK and what what the debt is for and how it was secured, if at all.
How do you find out if a business files bankruptcy?
3 WAYSIf it owes you money it is supposed to notify youThis is to be advertised in the local paper.The court has public records, you can search these for a small fee.
Why is profit requirement of business?
If a business is not making a profit then they are losing money if this continues a business will reach a point in which it will have no money and declare bankruptcy.
What happens to your money if your bank files for bankruptcy?
Banks are insured up to 100,000.00 by the government.
Is elink financial legitimate?
No they are not. I'm a bankruptcy attorney whose client was scammed an enormous amount of money from them.
When a person files bankruptcy in October and then wins money in a lottery are they required to report the winnings to the bankruptcy court?
You would only need to report the winning ticket if the bankruptcy was not discharged.
If one files bankruptcy and has a co-signer will if affect their credit rating?
If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.
If you file business bankruptcy do you also file personal bankruptcy?
I suppose you could, but even if you did manage to get the financing together to open another business, any profits from it would be subject to seizure by the court and the bankruptcy trustee to pay off the bankruptcy judgement. There is no bankruptcy "judgment." If the bankruptcy is over and you have your discharge, you can open a business, and any money you make is yours. Providing the first bankuptcy is discharged.
What is an appropriate gift for a male business client?
I think an appropriate gift you could give a male business client would be a gold money clip. These make great gifts for business associates. You can find some professional and classy gold money clips to choose from
Will your mom be able to keep any of the money she is about to receive from your dad's death benefits if she files for bankruptcy?
Hello, Jamison here, NOPE
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
