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Debt and Bankruptcy

State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.

4,664 Questions

How long does bankruptcy in the UK last?

Nowadays bankruptcy usually lasts about a year. Once your bankruptcy is discharged you will be free to start re-building your debt free life. You will probably find it almost impossible to get unsecured credit for a number of years. Mortgages are more available, but the rates will be higher. It pays to shop around, because the rates on adverse credit loans can vary widely.

If debt in collections what to do?

Pull your credit file and see if they have reported the debt as delinquent. If not, call, and ask to make payment arrangements with their agreement to refrain from reporting the lateness on the account. If they have already reported it, do the same with the purpose to be to delete the lateness.

If you can't seem to get anywhere, contact the Credit Score Improvement Helpline at

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What are the negative effects of personal bankruptcy?

The bankruptcy proceedings remain on your credit record for 10 years. During this period, it is very difficult to reestablish credit and borrow funds for items such as a new car or home.

Why does a bank become bankrupt?

Usually by making "bad" loans (one's that don't get paid back),

or embezzlement,

or the whole society goes broke.

What if i fail to surrender my car in bankruptcy?

You shouldn't have to, if it's financed they might want you to reaffirm but even that would be unusual, as long as you pay, they won't repo it. If not your exemptions can be used to cover enough of it to prevent a forced sale.

Why did juarez want prolong paying off the national debt?

Because he felt that he had no need since he could smell that the birth of Harry Styles was to come soon and he didnt need to pay anything as long as he saw that beautiful boy he could die a happy man it didnt matter if the french killed him, he had harry styles god bless!!!!!1111!!!!111

What is the basic meaning of bankrupt?

A trader who secretes himself, or does certain other acts tending to defraud his creditors., A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person., A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities., Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant., Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury., Relating to bankrupts and bankruptcy., Destitute of, or wholly wanting (something once possessed, or something one should possess)., To make bankrupt; to bring financial ruin upon; to impoverish.

What should be filed after 5470809?

After the number 5470809, the subsequent number would typically be 5470810. If you are referring to documentation or filings, it's best to consult the relevant guidelines or regulatory body for specific requirements related to that number. Please provide more context for a more precise answer.

I had traffic tickets that from 7 yrs ago that were in collections I filed for Chapter 7 Bankruptcy and the debts were discharged under the bankruptcy but the courts say I still owe wht could I do?

First see if you even have a driver's license-you should be able to get your driver report online at your state's website. it is probably suspended or revoked. If it is, and you get pulled over, you will go to jail. Bankruptcy does not discharge all debts. You do still owe, You will have to work out a payment plan with the court or never drive again. An attorney may be able to reduce the amount.

How do you find out what year you filed for bankruptcy?

Go back to the court where you filed and ask for a copy of the case details. You may also find it on your credit history.

How long does a bankruptcy stay on yourcredit report?

10 years for Chapter 7, although as little as 6 mos after you can begin to get credit and obviously the older it is, the less it counts against you. For some filing actually boosts your score since it depends on how many negatives you have already, since all those go away upon discharge, except for the public record. (bk)

How much would your payments be on chapter 13 bankruptcy on 100 000?

A chapter 13 bankruptcy on 100,000 dollars would cost around 500 dollars a month. This estimated on how much stuff a person has.

Why is reduction of debt considered income?

Anytime reduction of debt is considered income to the debtor, this means financial stability and good cash flows in business. larryadebesin.com the Ultimate Wealth Enrichment and Debt Elimination Plan will show you how to get your money's worth by systematically reducing your taxes, eliminating interest payments and increasing your cash flow all at the same time without spending any extra money.

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