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When a company files for bankruptcy do they pay other companies that sre owed money?
Michualwaysfb6309
Yes, they are required to pay back their debts, but sometimes its not as much as the original amount.
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∙ 9y ago
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What happens when a business is owed money by a company that files for bankruptcy?
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How does a client get their money back if the business files for bankruptcy?
It depends on the chapter they filed and the financial state of the company, most likey not, that is why the filed for bankruptcy, they have no funds.
If the owner financier a person not a company holds the mortgage note and he files bankruptcy how does this affect the buyer of the property?
The buyer still owes the money and must pay the debt.
What happens to your money if your bank files for bankruptcy?
Banks are insured up to 100,000.00 by the government.
When a person files bankruptcy in October and then wins money in a lottery are they required to report the winnings to the bankruptcy court?
You would only need to report the winning ticket if the bankruptcy was not discharged.
Is United one a real money order company?
Yes but they are in bankruptcy
Typically when a business is owed money by a company that files for bankruptcy the business will...?
It SHOULD file a claim with the court to be paid...and it will wait in line and be paid in accord with how the BK progresses...maybe all, maybe some small portion of what it is owed...depending on the situaton of the co that went BK and what what the debt is for and how it was secured, if at all.
If one files bankruptcy and has a co-signer will if affect their credit rating?
If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.
Open invoices company who owes money files bankruptcy?
They become claims in the BK, to be settled there. No collection actions may be continued. You can decide if you want to extend any "new" credit" or insist on COD.
If your company is owed money from a company that goes into Chapter 11 what do you need to do?
If a company goes into a Chapter 11 owing your company money, you need to submit a claim to the bankruptcy court yesterday.
What car company will run out of money by the of the year 2009?
GM just declared bankruptcy.
How do you know if a company is going bankruptcy?
Company often become bankrupt due to the mismanagement of money. Money management limits the overspending to an extent and thereby you can preserve money for the future use.
