To be in debt or bankrupt
Ca. We are almost bankrupt.
His business went to the dogs and he was declared bankrupt. He was unable to pay his debt and was declared bankrupt. His creditors got nothing as he was declared bankrupt.
www.OldBankruptcyPapers.com is an excellent place to get your bankruptcy records online. They are fast, and cheap! They also have some good free information about what to do when debt collectors try to go after your old bankrupt debt. Hope this helps, Raymond
When a company goes bankrupt a debt can go into subordinated debt. This means the subordinated debt has a lower priority than other debts. Typically this has a lower rating of credit.
Depends on the type of debt.
unless it is written off by the court, it does. I would assume that it would be listed as debt by the party going bankrupt.
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
Bankruptcy IS debt relief. After filing bankrupt, you HAVE no more debts. No credit, either, but that's the way it works.
Only if they cannot provide services to you that were paid for.
Bankrupt, unemployed, poor, penniless, in debt, indigent, destitute
No - child support debts are not discharged in bankruptcy.
The corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
LDC debt crisis is where countries can't meet their global financial obligations thus the country is bankrupt. Greece is now in its 5th year
Basically because management made a couple errors, couldn't pay the debt and it died.
The courts can if the debt wasnt repaid, the only way out is to setle or go bankrupt.
No, a mortgage is a debt, and can't be bankrupt. Only a debtor can be bankrupt, i. e., unable to meet obligations as they become due. If you mean, can you file bankruptcy and either surrender the property (c. 7) or get caught up by a c. 13 plan, yes, of course.
This is not a question. Good luck. If the question is, "Can one collect unsecured debt from a bankrupt company?" The answer is, "only if property is administered by the trustee."
Of course. Your saying the person/co you owed money to (the creditor) went bankrupt. So? His/its bankruptcy does not relieve or change YOUR debt in any way...whether he transferred the debt or not, before or after filing. In fact, the debt you had to that bankrupt party is an asset of its. Hence, when he declared bankrutpcy it is very commonly given to one of HIS creditors as a way to pay them.
Child support debt cannot be charged off in a bankruptcy.