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
Is 84 lumber filing bankruptcy?
you would think with their lack of cash flow AND their insistence on net 90+ day terms they would be near bankrupt. Their reputation amongst their suppliers is poor, at best. THEY like to drag out payments as long as they can. you would think with their lack of cash flow AND their insistence on net 90+ day terms they would be near bankrupt. Their reputation amongst their suppliers is poor, at best. THEY like to drag out payments as long as they can.
Show the treatment of bad debts in financial accounts?
Treatments of bad debts in financial accounts:-
A. Revenues should be reported net of discounts and allowances with the discount amount parenthetically disclosed on the face of the statement or in the notes to the financial statements. Alternatively, revenues may be reported gross with the related discounts and allowances reported directly beneath the revenueamount.
B. Provision must be made for bad debt estimates each year. Tuition and fees should be reported net of allowances and discounts. As such, increases in allowances for bad debts are recorded as a reduction in revenues rather than anexpense.
C. With regard to the presentation of the provision for bad debt estimates taken as a reduction of tuition and fee revenue, this should be deducted from the gross tuition and fee line item and should not be separately displayed on the face of the statement. This treatment is different than scholarship allowances which are required to be disclosed either on the face or in the notes to the financial statements.
How do you convert 13 into time?
13, as in 1300 hours? That's 1 pm on the 24 hour clock (easy conversion, if the time is larger than 1200, subtract 1200 to get the time equivalent on the 12 hour clock)
Can you do a loan modification after a foreclosure?
Have you just received a notice of default or has the house actually been foreclosed on? Loan modifications are something you do to try to avoid foreclosure. Depending on your situation, you may want to consult a loan attorney who specializes in loan mods. I've heard The Castle Law Group is supposed to be excellent. Their website is http://www.castlelawgroup.com. It's actually really informative and explains what loan modifications are and how they work.
'Hace sol' means "The weather is Sunny". 'Sol' means 'sun' in spanish, and 'hace' means 'it is'.
Will your discharge papers list all the creditor that was discharge?
Yes your papers will list all the creditor that was discharged. I did some research and found out myself.
How many points does your fico raise after a bankruptcy falls off your credit report?
No one can tell you how many points it will raise. There are many factors a credit report considers when determining scores. It is VERY important, that once you have had a bankruptcy try to never have any late payments. When a creditor considers giving you a loan and they see the bankruptcy and they then see you have been late on bills after the bankruptcy, they may think that you are a financial risk. As time goes on and the bankruptcy gets further back in your history, you scores will start to go up.
Difference between retail and hospitality?
Retail provides a product for sale. Hospitality provides a service for sale
If my husband buys property am I responsible for the debt?
In certain circumstances YES! Take legal advice.
How many chapters are there in house of the dead overkill?
There are 9 chapters in "House of the Dead: Overkill" for the Wii version of the game.
Will you be liable for missed payments after foreclosure?
You will not be Liable for "payments". Depending on your state laws, the lender may obtain a deficiency judgment against you.
If the house is a primary residence, you will not be sent a 1099-A nor, will the IRS receive one on you, unless you have a HELOC, Line of credit, or other type of lien. (Pool) In that case they can come after your for the entire deficient balance. You will not receive a 1099 in this case, you will receive collection calls and possibly civil liens, and wage garnishment. This applies even if you live in a non-recourse state such as AZ. If the property is an investment property, you will most likely receive a 1099-A for the deficiency, and they will try and collect that debt as well, as it is not covered under non-recourse laws. The only real way out of both of these actions is to file bankruptcy or to pay the debt off.
You can go to hud.gov (the specific URL is in the related links section) and find a certified pre-foreclosure specialist. HUD counselors work with you and your lender at no cost.
What can hold your state refund back?
Lots and lots of things. First of all, just to be nasty to them first...the State systems have been known to, shall we say, screw up? Also, many States are intentionally delaying things because they "need the money". But, more often than not, it is simply that something in the return was screwed up...adddition, missing cell or format, and it got kicked out of speedy automatic processing to hand. Then various other "red flags" they may want to look at. People seem to think processing is automatic and quicker than it is...under the best of circumstances, figure it takes 4-6 weeks, with electronic deposit...more if you wait for a check. From when processing starts, not when you mail it. The info they match too, from employers and such, isn't received or has a problem. THEN OF COURSE, IF YOU OWE THE GOVERNMENT (State or Feds), ANYTHING FOR ANY REASON...(child support, other taxes, student loans, etc. etc). THE GOVERNMENTS WILL NOT PAY ANY BODY OR COMPANY THAT OWES THEM, AND WILL OFFSET ALL OR PART OF ANY PAYMENT INCLUDING TAXES.
How does deficit financing add to public debt?
deficit financing adds to public debt because it is regularly spending more than it takes in each year-and then borrows to make up the difference.
Can a retailer be a wholesaler?
yeah one surely be a wholesaler if he/she is already into retailer services even one is can also go for drop shipping services.
What happens when you file for personal bankruptcy?
A basic, rough primer: BK is always done under FEDERAL Laws, in a Federal Bankrutpcy Court. Basically State makes little difference. (Yes the BK Courts operating in certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local laws and customs better). In a personal bankruptcy, YOU go bankrupt. Not a debt, not a loan...not a car...not a this or that. ALL of your assets, of all types, MUST be disclosed and reported in BK, and ALL of your liabilities/debts must be too. No exceptions, no picking and choosing. They are all, always involved in some way.The court will then order each of them in priorities according to the laws. Some things may be exempt from use or discharge (like your personal furntiure and retirement accounts are exempt and child support cannot be discharged) - and the rest may be used. With one to pay the other. (All possible creditors are contacted and asked to say what they are owed....you may be required to even take advertisments out to make sure everyone is notified). Any deal you've done for several years is open to scruitiny and review. The court can reverse them, take them out of the BK, or even have them prosecuted as trying to defraud your creditors. (So, no you can't sell your boat to your brother and then declare BK). Debts secured by an asset (say a car) have first call or right to the money received from that asset. If it isn't enough to pay the debt, the remainder of that sdebt becomes a general or unsecured claim against the BK., and has a chance to payment on that level too (albeit a lower priority than those who have yet to receive anything). The end/remaining amount that can't be satisfied is generally discharged by the court...meaning you no longer owe it. You get a fresh basically debt free start....many of those you owe don't get paid what they had expected and relied on, if anything. There are many other considerations too. BK will severly hurt your ability to get credit for a very long time for example. It is on your credit report for at least 10 years...and employers refer to that too, as do landlords and more. Many do not rust people with bankruptcies in their past, especially in the last few years. Many more things. Not disclosing all items is frequently trie and easily discovered, in which case - as you are swearing under oath to the court you included all info - your case is dismissed, and regularly, fraud charges are pursued. (Courts don't take to being lied to well). The courts, Judges, laws, bankers, all those zillions of attornies, etc, have been through this thousands of times for many, many years. The processes are fairly well worked through and prepared for tricks and games. It is unlikely you would discover one that hasn't been tried a zillion times before! The Cos that claim they can change your record, or make magic happen (either before or after BK), are scams, and getting caught doing something unsavory (intentional or not), other than screwing up your bankruptcy filing, is frequently considered and persued criminally. (Think your financial troubles are bad, try adding in criminal ones). The legal process and system is demanding even for those experienced with it. Many of your creditors will have an attorney to assure they get as much as possible, even groups of lawyers, who specialize only in bankruptcy. Simply you should/better/need to have one too
