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Corporate Bankruptcy Filing is the name given to the process when a business becomes insolvent and unable to meet their debt commitments. This is in contrast to personal bankruptcy where an individual becomes insolvent.
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∙ 10y ago
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What does apa stand for in bankruptcy?
APA stands for "Automatic Payment Avoidance." It is a term used in bankruptcy to describe the process where a debtor stops making automatic payments to a creditor after filing for bankruptcy.
You filed in 2002 for chapter 7 when will it be discharged?
The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.
What does the term corporate party ideas mean?
The term corporate party ideas, refers to themes and entertainment ideas designed for inclusion in a corporate party. A corporate party would be given by a business corporation for its staff and / or important clients.
If the IRS and State are taking money from your checking account and payroll check for personal taxes will declaring bankruptcy stop this?
In general, Federal tax lien are not able to be discharged through bankruptcy. You didn't mention what state you are in, but whether or not state taxes would be exempt would depend on applicable law. You should consult a bankruptcy attorney for exact answers to this question.The short-term answer is yes - filing bankruptcy will stop a garnishment and IRS bank levy from continuing. However, if the taxes are not going to be discharged in the bankruptcy then this only a short-term solution.I would recommend checking with a tax firm who specialize in debt resolution. There is probably a better way to fix this than filing bankruptcy, preferably a way that will not affect your credit rating any further.
Can you keep a few small credit cards after filing for bankruptcy?
Yes; however, the issuer is not required to continue to extent you credit (can close the account).
If a car is repossessed and sold at auction for less than the amount owed to the lender will filing bankruptcy discharge the remaining balance if it has been reduced to judgment?
It depends on the chapter. In either case, your remaining debt is now unsecured and a bankruptcy filing places the judgment on hold. If it is Chapter 13, file a claim and you may receive a percentage of the bankruptcy estate, but not usually until near the end of the bankruptcy term (3-5 years). If it's a Chapter 7, again, it's an unsecured debt and highly unlikely that the debtor will sign a reaffirmation to pay you back. If the bankruptcy gets dismissed (thrown out), your judgment is back in force, provided it has not expired.
What does municipality mean?
The term municipality refers to a city or town that has a governing body. It is a locality that has a corporate structure.
The term bankruptcy means?
Bankruptcy refers to having exhausted ones resources and finances.
If you are filing for bankruptcy can you be listed as an authorized user on your son's credit card?
Yes. An authorized user, is a term used by CCC's as a safeguard for possible credit card fraud. It does not make the "user" the debtor, or the responsible party for repayment.
What is the legal term for going broke?
bankruptcy
What is the term used when a bankruptcy is over?
Discharge
What does it mean when Americans have and indirect democracy?
It means the term "corporate oligarchy" is unfashionable and would lower the world's opinion of us.
