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What else can I help you with?
Do you still go to the hearing for creditors after a dismissal for failure to file schedules?
No., because a dismissal means the BK case was thrown out.
What are the areas of conflicts between creditors and the company?
Some common areas of conflict between creditors and the company include disagreements over payment terms, interest rates, collateral, and repayment schedules. Creditors may also have concerns about the company's financial stability and its ability to fulfill its debt obligations. Additionally, conflicts can arise if the company defaults on its debt payments or if there is a dispute over the valuation of assets offered as collateral.
Will a closed credit card account receive notice of a bankruptcy filing?
Only those creditors you list on your bankruptcy schedules / creditor matrix (list) will receive actual notice.
What happens at the meeting of creditors?
At the 341 Meeting of Creditors you appear before a trustee who will examine you. At the hearing your are sworn under oath and the trustee will ask you a serious of questions about the documents and schedules that are filed with court. The trustee is a person who is assigned to your case by the court and who is in charge of administrating the case. Most of the questions that are asked by the trustee are pretty routine. Some of the more common questions that are asked are:Did you read the schedules and petition before signing themIs everything in the documents accurate?Did you list all of your assets?Did you list all of your creditors?Have to transferred or sold any property in the last 2 years?Do you owe any domestic support obligations?The questioning is pretty quick for most people. This is a good resource that describes a bit more about the Meeting of Creditors: http://hubpages.com/hub/Meeting-with-Creditors
Examples of creditors ledger and a creditors journal?
creditors journal
Is the additional fee you pay for adding creditors to your bankruptcy per amendment or per creditor?
The additional fee ($30) is for any amendment to Schedules D, E and F. There is a $260 fee to reopen the chapter 7 if needed to file the amendment. Make sure you add all the omitted creditors, so you don't have to file more than one motion to amend.
What is creditors circularization?
creditors' circulization
Can creditors account have debit balance?
creditors have debit balances as advances receive from creditors..........
What does a creditors clerk do?
duties of a creditors clerk
Why a business need creditors?
Why a business have creditors
What are the roles of the creditors?
Creditors play essential roles in the financial ecosystem by providing capital to borrowers, such as individuals or businesses, enabling them to fund operations, make investments, or cover expenses. They assess the creditworthiness of borrowers to determine the terms of lending, including interest rates and repayment schedules. Additionally, creditors have the right to collect debts and may take legal action to recover funds if borrowers default on their obligations. Their actions and decisions significantly impact both the credit market and the economy as a whole.
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)
