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Yes but when trying to do so you should understand that you will have to pay the creditors something until the debt is settled and it is best to get a 3rd party to mediate and negotiate the deal.
Alternatively you could go bankrupt - and that would void the debts BUT with a serious blemish to your future creditworthiness.
What else can I help you with?
Why a business need creditors?
Why a business have creditors
How can we calculate creditors payment period?
Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)
How much does the banker on deal or no deal make in a year?
500 crores
What is the effect of liquidation on creditors?
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
What do firms owe their creditors?
Firms will owe their creditors a debt and usually some type of interest.
Can you negotiate with creditors if you cancel a chapter 13 bankruptcy?
Sure, you can always negotiate- but your creditors are not bound to deal with you.
What does an attorney dealing with creditors' and debtors' rights do?
Attorneys deal with consumer credit regulation, including attachments, garnishments, assignments for the benefit of creditors, judgments, and bankruptcy.
What journal entry we make when proprietor paid to creditors from his personal account?
Sundry creditors a/c dr to proprietors personal a/c cr
Can sundry creditors make sale to sundry debtors?
yep its returns
Examples of creditors ledger and a creditors journal?
creditors journal
What does a credit lawyer do for one?
Credit lawyer is an accredited lawyer who helps people to deal with their debts and sort their financial troubles. He can serve as both,a negotiator in debt-related problems with creditors and help to deal with lawsuits.
What is creditors circularization?
creditors' circulization
When was Make the Deal created?
Make the Deal was created on 2003-08-25.
Can creditors account have debit balance?
creditors have debit balances as advances receive from creditors..........
Can the deceased be billed?
The decedent's estate must be probated if they owned any property. Creditors can make claims against the estate. The creditors must be paid before any of the assets can be distributed.
What does a creditors clerk do?
duties of a creditors clerk
Why a business need creditors?
Why a business have creditors
