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In bankruptcy, "contingent" refers to claims or debts that depend on a future event or condition for their existence or amount. For example, a contingent liability may arise if a company faces a potential lawsuit; the obligation to pay is uncertain until the outcome of the legal proceedings is determined. Such claims are typically classified differently in bankruptcy proceedings, as they may not be considered immediate or fixed debts.
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What does contingent on a will mean?
what does a contingent mean on a bank statement.
Give me a sentence with ''contingent''in it?
(As an adjective, contingent can mean possible, accidental, or dependent. As a noun, contingent can mean part of a larger group or a quota.)(adjective) Your salary will be contingent on your performance as a supervisor.(noun) A contingent of troops arrived at the disaster site with medical supplies.
What does contingent PS mean?
Pending Sale
What happens to a trust that you are named in during bankruptcy?
If you are named as a beneficiary in a trust during bankruptcy, the trust may be considered an asset of the bankruptcy estate, depending on the type of trust and the bankruptcy laws in your jurisdiction. The bankruptcy trustee may assess the trust's value and determine if it can be used to pay off creditors. However, if the trust is irrevocable and the beneficiary's interest is contingent or not yet payable, it may not be accessible to creditors. It's essential to consult with a bankruptcy attorney to understand the specific implications for your situation.
On Schedule F of a Chapter 7 bankruptcy what does it mean when it asks if the claim is contingent unliquidated or disputed?
A contingent claim is based on a possible future event. For example, the liability of a cosigner on a promissory not might be contingent upon the a default by the main debtor. An unliquidated claim is one that has not been calculated or established as a specific amount. If you caused a car accident, pain and suffered is determined by a jury and thus unliqidated. A disputed debt is exactly that: a debt you dispute. You may dispute it for a number reaons and these descriptions are not mutually exclusive.
What does bancarrota mean?
Bankruptcy.
What does the abbreviation N.P.O.C mean in terms of bankruptcy status?
I think if you are towards the end of your bankruptcy, it mean "in process of closing"
What does bankruptcy apo mean?
"APO" in bankruptcy stands for "adequate protection order."
Is bankruptcy attorney capitalized?
Do you mean like "Bankruptcy Attorney"? Well it is a title of sorts. So yes. I am Max Rosenberg, the Bankruptcy Attorney.
Can you file bankruptcy on a truck repo past due loan?
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.
What does pending bankruptcy mean when trying to collect on a debt?
Bankruptcy Means Test and Household Size With a Pending Divorce .
When talking in life insurance what does contengent mean?
In regards to life insurance, contingent usually means secondary. For example a contingent beneficiary is a secondary beneficiary, not the primary beneficiary. The contingent beneficiary would receive the proceeds from a life insurance policy if the primary beneficiary were not alive when the insured person dies.
