0
Debt and Bankruptcy
State of owing money to creditors. A person or organization is bankrupt when judged to be legally insolvent.
4,664 Questions
Yes. Blockbuster is bankrupt. And one of these days it will go out of business. Blockbuster was one of America's most famous video rental stores. And now it is having trouble with sales.
Which states do require a license to collect debt?
All collector/collection agencies are required to adhere to Federal FDCPA regulations. States individually set up guidelines for governing such businesses and not all states require licensing.
Please see link provided for more information
The car lender would repossess the vehicle and sell it off, if there is a remaining deficiency, then the lender can go after the co-signer to be paid (so yes it would negatively effect the co-signer's credit rating)
What is the procedure to remove bankruptcy from your credit report after 10 years?
get a job. collect paycheck. pay off bankrupcy << Completely Useless Answer.
Try this- there's not a whole lot you can do. You're looking at having to wait until the Statute of Limitations has run out. Typically 10 years.
Can you file bankruptcy to stop a foreclosure if your name is not on the mortgage?
No, sorry, that wouldn't help a bit, and just damage your credit score.
LDC debt crisis is where countries can't meet their global financial obligations thus the country is bankrupt. Greece is now in its 5th year
What is the procedure to cancel the demand draft in Indian oversesas bank?
A Demand Draft can be cancelled by the person who took it provided it has not yet been encashed. You need to visit the bank branch where you took the draft and submit a request in writing, asking them to cancel the draft and refund the money. The bank will accept the request if the draft isn't encashed yet and then cancel the draft and refund the money. The bank may or may not charge you a fee for doing so.
Do banks have insurance to cover losses from foreclosure sale?
yes, up to what the policy limits are which is typically the entire amount.
Do you have to be late on payments to file bankruptcy?
No, but it helps. Many people pay their bills instead of buying groceries, but they can't sustain that for long. The test for bankruptcy is not so rigorous. If you spend what you should to live on, and you cannot pay your other bills as they come due, you can file.
Can you get a car loan before chapter 7 discharge?
No. And if someone wants to give you one, run away from that dealer.
What do debt lies and theft have to do with the downfall of Willy Loman?
it is to do with willy having an affair and biff flunking math and willy, biff and happy not being successful in business or in life
Can a company deduct a bad debt from your pay?
No, they cannot, the only way that they can collect is through a garnishment ( a garnishee) this has to be done through a judgment in a court of law.
Can mortgage arrears be put in chapter 7?
No, that can only occur in a chapter 13. If you filed a chapter 7, a lender would be able to get relief from stay (i.e. would still be able to foreclose on you)
Can you include judgments in bankruptcy?
Yes in a chapter 13 but you should definitely consult your lawyer to make sure all kinds are ok. And note filing them in a bankruptcy,unfortunately, doesn't always get rid of them.
no must be a week and the tennant is entitled to taking the bond money for security.
Can a judgment be dismissed if you file for bankruptcy?
To get technical, a bankruptcy does not "dismiss" a judgment. However, the end result is the same- a bankruptcy will "discharge" the debtors responsibility to pay the judgment which makes unenforceable - uncollectible. It is against Federal law to try and collect funds that have been discharged in bankruptcy.
Prior to the discharge in a bankruptcy, and IMMEDIATELY after the filing of your bankruptcy petition, an "automatic stay" by the court is put in place to freeze all collections actions against you.
There are several exceptions which include certain taxes, student loans and fraud.
Who pays the tax lien in a foreclosure sale?
Caution: This is not legal advice and I am not a lawyer. This is general advice and there may be exceptions from state to state. I do, however, have extensive real estate experience.
The buyer of the property pays off any liens. This lien must be disclosed by the owner, otherwise, you cannot close on the home and the sale is null and void. If money has changed hands, all moneys must be returned. (although it is a royal mess that is very difficult to straighten out.)
