All Questions
Tagged with debt bankruptcy
15
questions
1
vote
1
answer
112
views
Such a thing as a bankrupt law
The early 20th century folk song "On the Trail of the Buffalo" tells the story of some cowboys employed by a drover to run buffalo. In Woody Guthrie's 1945 version (video / lyrics) we have ...
- 111
1
vote
1
answer
108
views
Can strategic bankruptcy be used against investors?
Can bankruptcy be used as strategy to avoid paying back investors? Are there examples of such behavior?
What are the mechanisms in place in US law to prevent people from creating a company to attract ...
- 11
11
votes
3
answers
4k
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Does the USA actually have debtors prison or jail after a court order?
Okay, I know officially the answer is "no, there is no such thing as debtors jail for civil debts in the USA", however let's explore this. Suppose a person is sued by a creditor for a debt. ...
- 111
1
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1
answer
144
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Can future debts be included in a bankruptcy petition?
I'm asking this question as a matter of law, not specific to any situation, and not as a request for advice.
Can debts that you know for sure will be incurred in the month after filing (examples may ...
- 13
-2
votes
2
answers
90
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Can a debt discharged in a bankruptcy be assigned to a different person?
I'm in the USA. I took over an apartment lease from someone for the last 4 months of the lease, which ended in May. I've been remaining in the apartment, and have had trouble paying rent.
I am now ...
-1
votes
2
answers
123
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Does Unsecured Debt Have Implicit Collateral?
I am thinking of a simple case.
For example, suppose I bought a home, but there is a mortgage where the contract stipulates that if I default, the bank can seize up to 95% of the home value. This 95% ...
- 157
2
votes
1
answer
84
views
Does fraudulent conveyance only apply to bankruptcy?
Say creditor has a judgement and before the judgment I transferred assets to someone else. Can the creditor go after the fraudulently conveyed assets? Or is that only for bankruptcy?
- 37
3
votes
2
answers
219
views
Which state's statue of limitations for debts applies, for credit card debt?
I used to live in South Carolina, USA and lost my job. As a result I defaulted on credit card debt. I have not paid anything on it for the last year and the debts were "Charged Off", and are in ...
- 31
1
vote
2
answers
259
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What happens to loans issued by a startup if the startup fails?
I live in the U.S. Suppose that I invest $50,000 in a startup company, signing "typical" paperwork for a 55% stake. The founder then uses the money to issue a $20,000 loan at a minimal interest rate ...
- 195
0
votes
1
answer
125
views
Fraud if a director lies about being unable to pay
Context: Canadian Law; contractor; fraud
Would it be considered fraudulence on behalf of the director (specifically CEO) of a company if they were to lie about being unable to pay a contractor, but ...
- 127
1
vote
1
answer
84
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General bankruptcy inquiry in Germany
A person lives in Germany and owns a business which is in debt. They are afraid they will lose their child and be sent to "debt jail".
Is this a real possibility?
Is there any liability protection ...
- 113
1
vote
1
answer
189
views
Ch 13 Bankruptcy: What happens if you owe too much to repay in 5 years
As I understand it, Ch 13 bankruptcy protects a person by letting them repay their debts over a period of some 5 years. What if a person has more debt than they can repay in 5 years? (In the state of ...
- 724
1
vote
1
answer
707
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If the damages from a lawsuit force the defendant into bankruptcy, are they forgiven?
Say Bob throws a pool party, and because he's secretly homicidal, he decides to poison the pool water, and many of his guests end up in the hospital. He hires a good lawyer to defend him in criminal ...
- 2,185
2
votes
0
answers
54
views
What happens to unsecured debts which were secured in a Ch 13 bankruptcy when dropped?
In some cases in a Chapter 13 bankruptcy, a secured debt can be partially converted to unsecured. For instance an automobile which was not purchased recently can be 'crammed down'
For instance a car ...
- 800
1
vote
0
answers
78
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In the US in a Chapter 13 bankruptcy, when are the amounts considered paid?
Hypothetically, Let's take the case of a debtor filing Ch 13 bankruptcy, with, say 25 thousand in debts secured with a car title, and 25 thousand in unsecured debts.
Let's say he's planning to pay ...
- 800