You do if you owe him money. You must include ALL creditors.
NO, and you shouldnt. Pension and 401 accounts are out of reach of creditors. If you are to withdraw from your 401, that money would be subject to seizure by the trustee to pay off your creditors.
Accounts payable is money owed by a company to its creditors.
There are ways we can escape from bankruptcy; Selling some of your assets. Sell whatever you can spare and use the money to pay off your debts.Ask creditors to help you avoid bankruptcy. Let your creditors know you are having financial difficulty and want to avoid bankruptcy..
No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.
IRA's are exempted personal property. Creditors can not touch this money to pay debths.
If your bankruptcy is over....it's over. There is no claim to what ever you get in the future.
No, the IRS always gets its money.
Yes, but that money would become part of the bk estate- which would be used to pay off your creditors.
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.
They would legitimately be entitled to be a party to the settlement but would need to apply to the bankruptcy administrator for consideration in this instance.
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance...account receivable- money coming in for profit account payble-money going out for a expense .Accounts payable refers to liabilities owed to creditors from whom you've made a purchase. Notes payable refer to liabilities owed to investors from whom you've borrowed money by issuing a debt...
The money might be included in the bankruptcy even is a discharged has occurred. The time between the discharge and the receiving of the money would be the deciding factor. If the bankruptcy has not yet been discharged the money might be included in the procedure as assets, unless it held exemption status.
No creditors can not take the car, even if the father can not pay the money for it, as long as you are paying the full money they should not have any trouble.
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
No, you are not. When someone files bankruptcy the title to their property is held by the trustee in bankruptcy. The bankrupt cannot sell any property therefore, if they do, the title is not clear. You may lose the property to the creditors if someone tracks it down. You would then be out of the property and any money you paid for it.
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
Yes, the amount of money you have saved is one of the things that they look at. It's even better if you have the money invested in IRAs or money market accounts. Good Luck!
You can qualify to file for bankruptcy if you owe a substantial amount of money to your creditors and/or car loan and mortgage companies. It is not worth filing bankruptcy for small debt as bankruptcies range from 900 dollars to a couple thousand dollars.
if its related to the bankruptyc, you can include it. and the creditors will have to remove it or flag it for removal in 7/8 yrs because an eviction is related to owing money or a summons, and a bankruptyc filing will/can squash those writs of order to pay. You have to manually add that into your list of creditors when filing for the bankruptcy.
The court certainly tries to protect and get all assets, that includes any money owed the bankrupt, to disburse to creditors.
A preference period is based on the relationship that a debtor has with a creditor. The debtor cannot transfer money to non-insider creditors during a 90 day period before filing for bankruptcy. The preference period for transfers made to insider creditors can be increased up to one year.
It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.