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Has happened 100s of times this year alone. It is handled under the FDIC program, the bank is run by the Feds until a new owner/operator is found, and the depositors accounts protected under the terms of the program. Normally, they just open the next day with a new ame on them.
What else can I help you with?
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
Is it difficult to repair credit after a bankruptcy?
Yes, it is very very difficult to repair credit after a bankruptcy. Once an individual or a company goes to bankruptcy, then all of the belonging of them are taken by the bank & thus there is nothing left to repair with.
What would happen if a bank goes out of business?
If a bank goes out of business, it could lead to customers losing their deposits and investments. The government may step in to protect depositors through insurance programs, but there could still be disruptions in the financial system and potential economic consequences.
Does Bank of New England Corporation stock still egsist?
No. The Bank of New England Corporation was liquidated following its bankruptcy filing. Bank of America is the successor (following Fleet Financial Group). There is a small New Hampshire bank that now goes by the name Bank of New England.
Will a bank repossess a car from co signer if primary goes bankrupt?
Only if the primary has said s/he will surrender the property in the bankruptcy and/or if the cosigner does not make the payments due.
When a firm goes out of business it is called?
A firm may go out of business due to many reasons such as retiring, forced to sell by illness, or bankruptcy. But, usually when we hear that a "a firm goes out of business.." our thoughts would immediately think bankruptcy or failing.
What would happen if you use indoor Christmas lights outside?
What would happen is that they would not work anymore and you will just be throwing them out and then there goes your money.
Will your bankruptcy stop your judgments against your ex?
I am not sure what you are asking, but here goes. If you file bankruptcy for yourself, it only applies to you. The debtors can, and probably will go after your ex. It happened to me already. Your ex can file bankruptcy on his own behalf, and be protected also. If you have a judgment against your ex, and he owes you, I do not think that you, filing bankruptcy would interfere. I am not an attorney , but do believe that he would still owe you whatever the court ordered .
Which of these about bankruptcy is false A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy D All of these?
ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy
What would happen if you put granite in water?
it will goes under the water.
What does it mean when a bank fails?
It means a bank goes out of business or goes bankrupt.
If judgment goes to bankruptcy will it be removed?
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
