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The extension of credit is always your decision...and should be within your credit guidelines.
A Co in C-11 is clearly financially troubled and a concerm. There is some truth that any new credit, (that is post petition)...is not part of the bankruptcy and is a claim against all the assets of the "new" reorganized Co. Don't be fooled, that may not be enough to assure payment. If your an important vendor to the continuation of the Co, it can sometimes be arranged that the new credit line will be supported by the Court or some other assurance of the "new" Co backers, to provide some degree of security/assurance of payment. ANY DEFAULT OF ANY TYPE IN A POST PETITION CREDIT AGREEMENT SHOULD BE HANDLED SWIFTLY AND POWERFULLY. NO EXCUSES CAN BE ACCEPTED.
What else can I help you with?
Are vendors guaranteed payment selling a company in Chapter 11 Bankruptcy?
No, but generally they receive higher preference than unsecured creditors that issued credit prior to the bankruptcy, should the chapter 11 company go to chapter 7.
Who should you call if a credit card company listed you as deceased on your credit report?
You should call the credit card company.
Can a company charge your credit card without your permission?
No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.
Should you pay bill to company in chapter 11?
yes
When should you report your stolen credit card to the credit card company?
You should report your stolen credit card to the credit card company as soon as you realize it is missing or stolen. This will help prevent unauthorized charges and protect your finances.
What happens to credit card upon death in regards to the heirs?
The credit card should be returned to the credit card company or destroyed and the company should be notified immediately of the death so the account can be closed.
What do I need to improve my credit score for an auto loan?
To improve you credit score for an auto loan, you need to pay off your bills on time. You should pay off your debt. You should not take out additional credit and you should check your credit report.
How would being secondary on a credit card affect the secondary if the primary filed Chapter 13 can it be taken off the secondary's credit report?
An unfavorable item should be on your report for seven years. A co-debtor's chapter 13 should not affect your liability on the debt.
How can you get your chapter 7 bankruptcy off your credit report?
It should rotate off of your credit report about 7 years after being discharged. It cannot be removed.
Should you give your bank account number to your credit card company?
no
Where can one find out how to get a company credit card?
To find out if your company offers particular credit cards for employee use, one should speak to the Human Resources department who should be able to offer advice.
Where do I go to pay off my credit card debt?
Your credit card company. You should be able to call them and pay your bill/debt over the phone or be able to do it on the internet on your credit card company's website.
