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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
Solve for debt equity ratio with debt ratio of 43?
For a company, the debt ratio indicates the relationship between capital supplied by outsiders and capital supplied by shareholders. Often the debt ratio is computed as total debt (both current and long-term) divided by total assets. Thus if a company has $50,000 in debt and assets of $100,000, its debt ratio is 50%. The debt ratio is also calculated as total debt/shareholders' equity, long-term debt/shareholders' equity, and in other ways. However computed, the debt ratio provides insight into the firm's capital structure and will vary across industries. A low debt ratio isn't necessarily best: If a company can earn a greater return on debt than its cost, the firm should borrow more and raise its debt ratio -- provided the debt burden won't be crushing when business slows. Turning to consumers, the debt ratio is often shorthand for the "debt to income" ratio, i.e., an individual's monthly minimum debt payments divided by monthly gross income. The debt ratio is monitored by credit card companies and determines the consumer's ability to obtain additional credit
What is the debt to tangible net worth ratio?
There is not an exact formula for the debt to tangible net worth ratio. However, generally speaking, it is an exact ratio of how much debt a company or person is in, compared to how much they are worth (net worth).
When you file bankruptcy when do they repossess my car?
When you first meet with your attorney, and fill out the initial paperwork, normally all credit collection is to stop including car repossession ( if you have included your car's creditor on your list). You may also be allowed to keep your car anyway, depending on its value. Even then, if it exceeds the allowable dollar amount usually the court will allow you to do a negotiated payment of the amount of excess.
Advice - When your final hearing come up , MAKE SURE that you have all the proper documents requested by the court WITH YOU! Often, at the last minute your law firm will substitute attorneys and he or she might be clueless and/or, unprepared. This happened to me and being completely prepared saved my butt!!!
Excessive obligations in relation to income?
It means that you have too much debt in relation to your income. Stop buying on credit, cut down on all your spending, make bigger payments to pay off your debt more quickly, and raise your income by working an extra job to fix this issue.
When will being removed as an authorized user show up on your credit report?
In general, those becoming "authorized users" will not have changes made to their credit report unless (1) they become an authorized user of a company card and that company requires employees to take personal responsibility for charges or (2) they become a joint account holder, making them responsible for all charges.
So, if one falls into one of the above camps, the time varies based on the frequency with which the issuer chooses to inform the credit bureaus. Because "authorized user" status does NOT change the liability of the account holder, these types of credit report transactions are not priorities and may take place a few times per year.
Wait three (3) months and re-review your credit reports. If the "authorized user" does not disappear, dispute the tradeline with the appropriate credit bureau.
Is bank demand draft equivalent to cash?
Yes. It is almost equal to cash. A Draft is an instrument where the DD issuer has to pay the corresponding cash to the bank for the DD to be issued. Hence the DD receiver can treat it almost as good as cash. It can be cashed in one working day or lesser.
Note: In cases where the DD issuer issues a stop payment or DD cancel request - the DD has no value.
What debit am i liable for when Married in community of prop and husband deceased?
The only debt you're liable for - is anything in joint names. Any debt solely in his name died with him.
What are the details needed to send demand draft?
you need:
- DD Payable To - The name of the person/organization who is going to cash the DD
- DD Payable city - the city where the DD can be cashed
- DD Amount - The value of the DD
What is the difference between secured debt and unsecured debt?
A secured debt - is protected by being tied to something valuable (jewellery, car, house etc). If you default on the repayments, you could lose the item the debt is secured on ! An unsecured debt is not tied to any physical property. If you default on an unsecured debt, they will usually take you to court and have the debt recovered from your wages.
How much debt do you need to declare for bankruptcy?
UK. Bankruptcy £15,000 or more. If you have less than £15,000 worth of debt, sustainable under 15k for the duration of one year and meet certain criteria, you may qualify for a debt relief order, which is, in effect, a mini bankruptcy.
How do you write a formal letter of request?
You do not joke around, use correct grammar and correct words, say Sincerely, ----- Send!
Can you remove your freestanding stove after your home is sold in a foreclosure sale?
Not after the sale, no. You can only specify YOUR items prior to a sale, not afterward. But the mortgage company or bank does not have to allow you to remove an item that improves the property. In any event, you will need to take the issue to Small Claims Court now, or contact an attorney.
Sometimes, though, it's simply easier to walk away and realize how much worse your problems could be.
Can you take your refrigerator from your home that was sold at foreclosure auction?
Yes you, can. When a house gets foreclosed, it is based on the house itself, not its personal furniture and items.
no becuase bank charge when transaction is done. your process on through debit card. if this process happen with through check then bank charge it.
Who is responsible for your dead fathers debt?
Laws and regulations regarding debt inheritance differ by country. In most cases, a debt will become part of the inheritance and will either be settled from the inheritance first, or paid by the inheritor(s). There are also countries where significant debts (such as a mortgage) is coupled to a life insurance that pays out and settles the debt when the debtor dies.
You will need to file an Injured Spouse Form ( 8379) if you file jointly, in order to protect your portion of the income tax refund. You can order this form on the IRS official website, just type in IRS, and go to their page, and look under , order forms and publications. Hope this helps. Mary
Which basic assumption may not be followed when a firm in bankruptcy reports financial results?
Going concern assumption.
If your home has equity and you file bankruptcy on the credit cards do they go after your home?
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
