can I start a new business if I'm going to file chapter 7 on my personal debt?
Depends on the type of bankruptcy you are filing. Generally a personal bankruptcy does not effect your business, and vise versa. However, if your business is filing bankruptcy, a Chapter 11 reorganization will allow you to stay in business.
What company will insure you when in chapter 13 if you home is not covered in the bankruptcy. If you have current insurance and the company is going out of business.
No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.
No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.
The parent company is in bankruptcy and it is possible that they will go out of business.
Yes. But in California, you can not have more than ~$330,000 of unsecured debt if you are going to file for Chapter 13. Check your local bankruptcy rules to see if you qualify for chapter 13 bankruptcy based on your debt.
The type of bankruptcy that you file all depends upon your personal case. If you have little in the way of assets and a lot of unsecured debt, then Chapter 7 is likely going to be the Chapter to file. If you are trying to save a home from foreclosure or reorganize other types of debt, then Chapter 13 would be your best choice. Consult with an attorney to make certain you are filing the proper Chapter for your particular case.
Yes Chapter 7 (Liquidation) 10/16/2008.
Question is unclear but - any debts which you incurred before bankruptcy filing but were not presented until AFTER your bankruptcy petition is accepted, are subject to the bankruptcy. HOWEVER - after the bankruptcy has been filed, you may NOT go out and incur NEW debt. Any newly incurred debt will NOT be protected by the bankruptcy shield.
File away; worker's comp cases may be the kind of debt the company must pay regardless of their chapter 11 status. Ask your attorney handling your case.
when i was in chapter 13 i was in for four years. it go by how much you pay a month and how long it take to pay the loans back. ask your lawer they should have gave you paper work showing you step by step whats going on and how long your be in.
This means that a company is on the verge of bankruptcy and if something in the company doesn't change, that there is a definite chance of going bankrupt.