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What does aggregate debt mean?
It means the sum of all the Debts being considered.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who pays your debts if there is no estate or will?
All the more reason to open an estate. The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Repudiate used in a sentence?
He was forced to repudiate a statement he had made before he had all the information
What does aggregate debt mean?
It means the sum of all the Debts being considered.
What does insolvency mean?
1 unable to meet debts; bankrupt 2 insufficient to meet all debts; as estate or fund
Bankruptcy does it eliminate all bills?
You probably mean debts, not bills. All debts incurred prior to filing AND all assets are reported and used in the BK. Nothing is excluded and all are given priorities by law. Secured debts may have first call on the money received by the asset they are secured by. Assets are used to pay debts. Excess debts may be discharged. Not all assets are used and not all debts aere able to be discharged - generally things like personal/home items, work tools, a reasonable car, etc are not used and debts like child support, court ordered restitution, are not able to be discharged.
What does the design on the confederate flag truly mean?
The flag shows all the battles of the confederacy.
What does it mean for a bankruptcy to be discharged?
You may be referring to the discharge of debts in bankruptcy. Not all debts can be discharged. Most discharged debts are partially discharged in Chapter 11 and Chapter 13 actions. Debts or the portions thereof that are discharged no longer exist at law and creditors no longer can attempt collection. It is a "fresh start". You attorney can advise you as to which debts are likely to be discharged, which ones reorganized, and which debts will likely not be discharged.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
If a general partnership fail who is responsible for the debts?
All of the partners are responsible for the debts.
What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Do I have to sell your deceased mothers home to pay medical bills?
You have to settle the estate. And that means paying off all the debts before distributing any of the assets. That does mean that the home may have to be sold to pay off the debts.
If you live in one state and have debts in different states can you file Chapter 13 Bankruptcy on all debts including them?
Yes. Bankruptcy is a Federal Government function. It effects debts in all states.
