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When someone goes bankrupt, after all their stuff is sold off the leftover debt is removed from their creditors. In order to make up this lost money, the creditors then have to raise the prices of their goods and services that they provide to everyone else, because if they do not then the company would quickly go out of business.
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∙ 11y ago
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If you are unemployed can you pay off the bankruptcy yourself?
If you are unemployed, your benefit compensation would hardly be enough to pay off a bankruptcy.
Student loan after bankruptcy?
You pay it.
What happens if you receive a pay rise after bankruptcy?
If you receive a pay raise after filing for bankruptcy, it will not change things. In fact, the pay raise will end up being surrendered.
When in bankruptcy do you still pay for the car?
Check
I am nearing retirement and have many credit card bills to pay which i cannot afford. is bankruptcy an answer and will it affect my partner if it is personal bankruptcy?
You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.
If you are not married but live with someone are they counted in the means test for bankruptcy?
When you are living with someone they are not included in your bankruptcy. If you are paying them rent, then the money you pay is an expense and will be considered for bankruptcy.
What is the Bankruptcy Code?
The Bankruptcy Code refers to a business filing bankruptcy. If a business is unable to pay it's debt or pay it's creditors, the business or it's creditors can file bankruptcy. Upon filing bankruptcy, the business ceases operation, a trustee sells the assets, and then gives the proceeds to it's creditors.
How can one declare corporate bankruptcy in the UK?
To be considered bankrupt, a court has to issue a bankruptcy order against you. One can apply to the court for bankruptcy if they are unable to pay their debts.
Does a bank in bankruptcy pay interest on Cd's?
Generally, yes.
What can congress regulate to help people pay bills?
Bankruptcy
If you don't pay taxes but work can you file bankruptcy?
Yes
Does bankruptcy mean you don't have to pay fines owed for driving charges?
No. Fines assessed by criminal courts are not discharged in bankruptcy.
