GM and GMC
Debt and Bankruptcy

Why did General Motors ford and Chrysler file for bankruptcy?


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2009-01-06 16:50:02
2009-01-06 16:50:02

They did not file for bankruptcy.

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Yes. General Motors Company filed for Chapter 11 bankruptcy on June 1, 2009. It was the fourth-largest bankruptcy in US history and the largest of a US industrial corporation. The value of all common stock was wiped out. The new General Motors Company LLC, which went public on November 18, 2010, is a separate and independent corporation, which has acquired many of the assets of the old company.

If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.

No you can not file bankruptcy on anything that is court ordered.CAN YOU FILE BANKRUPTCY ON RESTITUTION?

Chrysler bought the Dodge Bros company in 1928. Chrysler was near bankruptcy in 1979 when it received a government loan. It did file for bankruptcy in 2009 before being purchased by Fiat.

No they never did file for bankruptcy

can you file bankruptcy utah unenploment

If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.

You do not have to be unemployed to file bankruptcy.

No, there's no law that states you have to file bankruptcy.

Yes you can file for bankruptcy if you are unemployed.

No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.

No brainer. Tons of bills and no money to pay them,worst part-- can't assemble cars without parts.

Probably yes. The reason for the "probably" is that you don't file bankruptcy on specific loans... you file bankruptcy in general, and it applies to most debts (there are certain types of debts that are not dischargable in a bankruptcy). Note that if you do file bankruptcy, you may have to sell the vehicle. In bankruptcy you are often required to sell certain assets in an attempt to at least partially pay off your creditors; you're allowed to keep a certain amount of equity in a vehicle specifically, and a certain amount in "general assets" (which can be applied to a vehicle or to cash or other personal property), but if the vehicle is worth more than that, you would have to sell it.

what companies did file a bankruptcy in 2005,2006 and 2007.

Depends on file bankruptcy for, and the bank and what they want to do.

Anyone who is a resident of the state can file for bankruptcy in Wisconsin. There is no restriction on who can file, only for which chapter they can file in.

No, you cannot file my cell phone bill in a bankruptcy. However, you can file YOUR cell phone bill in a bankruptcy.

AIG did NOT file bankruptcy. It was bailed out by the Federal government, who now owns 79.9% of the company (just shy of the 80% needed to formally put it on Uncle Sam's books). Past stockholders--or whoever bought shares from them--still own the rest, unlike a true bankruptcy such as GM or Chrysler.

Yes, you can file with an income coming in, which chapter of bankruptcy you file depends on your income

Can you file bankruptcy if you caused a car accident?

what are the various categories of bankruptcy individuals can file for?

No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.

8 years between discharge of bankruptcy to re-file.

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