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Bankruptcy is the total or partial abolishment of debts after a formal filing with the government by either an individual or a company. If bankruptcy is granted, banks are able to liquidate assets-barring ones that are exempt-and possibly garnish wages. Credit scores are also severely hit by bankruptcy. The article below goes into more detail on the specifics of bankruptcy.
What else can I help you with?
When did DSB Bank declare bankruptcy?
DSB Bank declared bankruptcy on October 17 2009 I do belive. However it is always best to actually reaserch deeply into this yourself heavily to find out exactly what happened.
How easy is bankruptcy?
Bankruptcy is not easy. You must first make some big decisions-such as which Chapter to file under and what to include-and then there is a ton of paperwork and many, many different steps. Life after bankruptcy is also not easy. There are a great many things you will need to do in order to recover from bankruptcy.
After bankruptcy you got inheritance can a creditor with a secured promissory note go after the inheritance?
No exactly. If you inherit any money within 180 days after you filed the bankruptcy, it will become property the estate. The creditors cannot go fater it, but the trustee can force you to turn over the inherited assets. See section 545 of the bankruptcy code.
When you file for bankruptcy does someone come to your house to list all your assets and take all the things you did not list as exempt?
Actually, the laws have changed a bit since the 2005 Bankruptcy law was signed. Instead of the "yard sale" way of valuing your assets, you now have to value your assets at the amount it would cost to replace them today with items in exactly the same condition. For more information, see Findlaw's excellent sections on bankruptcy and the changes from the 2005 law. http://bankruptcy.findlaw.com/bankruptcy/bankruptcy-basics/bankruptcy-overview-overview(3).html#8B5C102F-3D8A-4836-A2A3D553A00E015E
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
Business files for bankruptcy when is it made public?
With the filing...it is a matter of public record. That isn't to say they have to advertise it.....but the public record is exactly that, and anyone can find it, and generally, newspapers and such publish it.
How long bankruptcy after discharged records stays?
1st bankruptcy = 7 years 2nd bankruptcy = 20 years 3rd bankruptcy = life
Which companies offer information on bankruptcy?
Some companies that offer information on bankruptcy include Dow Jones and Jacob Meyers Bankruptcy. You can also find information on bankruptcy on the bankruptcy Wikipedia page.
What is the plural of bankruptcy?
The plural of bankruptcy is bankruptcies.
Is 7-eleven in bankruptcy?
no , ther not in bankruptcy
If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
How do you check your bankruptcy date?
The first two digits of the docket number, before the hyphen, tells you the year. If you don't have the docket number, you can go to a bankruptcy court or bankruptcy lawyer's office and look it up on the computer.
