0
What else can I help you with?
What is the money owed to creditors called?
Accounts Payable
Should the balance of a creditor you filed chapter 7 on show zero on your credit report after it has been discharged?
No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.
Which of these can occur when a person owes more money than he or she earn or pay to creditors?
bankruptcy
What can occur when a person owes more money than he or she can earn or pay to creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
Do you list a landlord on the list of creditors in a bankruptcy?
You do if you owe him money. You must include ALL creditors.
Can you withdraw from a 401K without consequence while in chapter 7 bankruptcy in Washington State?
NO, and you shouldnt. Pension and 401 accounts are out of reach of creditors. If you are to withdraw from your 401, that money would be subject to seizure by the trustee to pay off your creditors.
What is the money owed to creditors called?
Accounts Payable
Should the balance of a creditor you filed chapter 7 on show zero on your credit report after it has been discharged?
No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.
What stage of accounting is known as accounts payable?
Accounts payable is money owed by a company to its creditors.
Which can occur when a person owes more money than he or she can earn or pay to creditors?
bankruptcy
Which of these can occur when a person owes more money than he or she can earn or pay to creditors?
Bankruptcy.
Which of these can occur when a person owes more money than he or she earn or pay to creditors?
bankruptcy
If you have an IRA can they take money from it when you go into bankruptcy?
IRA's are exempted personal property. Creditors can not touch this money to pay debths.
If you inherit money after a ch 7 bankruptcy how much time must pass before I have to pay said money to my creditors?
If your bankruptcy is over....it's over. There is no claim to what ever you get in the future.
Does bankruptcy protect you from paying back taxes?
No, the IRS always gets its money.
Do creditors get money from settlement if no claim was filed during bankruptcy?
They would legitimately be entitled to be a party to the settlement but would need to apply to the bankruptcy administrator for consideration in this instance.
