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Q: If a truck was included in the chapter 7 and the finance company shows a zero balance owing how long does the trustee have to take possession of the vehicle?
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Why contingent liabilities are not included in the balance sheet?

Contingent liabilities is there in the balance sheet but not really there as It can give misleading information about the condition of the company.

What type of document does a company file when a notice of bankruptcy is received on behalf of a debtor?

If it is a no-asset chapter 7, and the company is listed as a creditor with a balance reasonably close to the actual balance as of the date of filing, the company has nothing to do other than taking the debt as a tax write-off.If it is an asset chapter 7 or a chapter 13, the company should file a proof of claim on the form required by the court withing the time period for filing POCs.

Where do you find positive and negative numbers in finance?

In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.

Is all rights reserved a publishing company?

No; it is a statement included in copyright notifications asserting that mere possession of the document doesn't confer any additional rights.

What Is Debtor-in-Possession Financing?

Debtor in possession financing is provided to some company experiencing Chapter 11 bankruptcy process to provide a new financial beginning, under strict conditions. This debt often takes priority total other debt, equity along with other company-released investments.

What happens when the bank takes possession of a company?

If a bank is on the brink of taking possession of a company, chances are the company is in financial trouble. When the bank does take possession it usually means that the company has gone into foreclosure. They will then sell the property and the company owners will need to settle their financial issues.

Balance Bar Company peanut recall?

Their Honey Peanut Nutrition Energy Bar is included in the recall. See Related Links. It seems the company website does not include recall information.

Where is the car after repossession?

It depends, but as a general rule, the finance company that repossed it will keep possession of it, either on their own lot or at an auto auction for a certain number of days (usually 30-60) unless you pay the balance to get it back. After that, they will send sell it at auction and you will owe any deficiency balance. In other words, if the balance on the car is $7000 and it sells at auction for $5000, you will still owe $2000 to the finance company.

If a company has overdrawn its bank balance then what is the answer?

if the company has overdrawn it balance that means the company ow the bank' in other words the company had made an overdraft, it is the liability to the company..

How do you regain possession of car that has been repossessed?

Contact your finance company. They will often give you the chance to get the car back if you pay up to date plus impound fees and usually some more towards your balance.

What company makes new balance shoes?

New balance!

What is the trial balance of a company?

The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero