0
bankruptcy.
- - - - - - - -
Inability to pay to the creditors may be called "bankruptcy". But, here, there is a distinction. One will have to consider whether the inability to repay is a temporary phase, or that the Borrower is completely failing and without any means or property. In case of temporary failing, it may be called a "default" due to circumstances beyond his control, which may not be willful default.
- - - - - - - -
Another View: Inability to pay one's creditors is known as being IN DEFAULT.
It is only after the defaulter petitions the court for protection from their creditors, AND the court rules in his favor, is it known as bankruptcy.
What else can I help you with?
When a less powerful nation was conqurered it might have to pay to the conquering nation?
I believe the money called to pay to the conquering nation is called a tribute.
In states did the banks and creditors control the government?
Massachusetts
In what states did the banks and creditors control the government?
Massachusetts
When government pay out more money than it is taking in it is called?
A deficit
The colonist did not have a say in the British taxes they had to pay what is it called?
"No taxation without representation".
When a person a legal declaration of the inability to pay debts it is called?
mean test
The inability of an individual or entity to pay its debts when they are due?
The inability of an individual or entity to pay its debts when they are due is referred to as insolvency. This financial state occurs when liabilities exceed assets, making it impossible to fulfill obligations to creditors. Insolvency can lead to bankruptcy proceedings, where a legal process is initiated to address the unpaid debts, potentially involving asset liquidation or restructuring. It is a critical situation that can have significant implications for both the debtor and creditors involved.
What is chapter 7?
Chapter 7 bankruptcy protects you from creditors and sells your non secured assets to pay the creditors that you owe. If you do not own an assets, you will not have to pay the creditors and the debt will be forgiven.
What was The Roosevelt Corollary to the Monroe Doctrine called for?
Intervening in Latin American countries that could not pay their debt to European creditors.
What is Creditors Collection Period?
The creditors' payment period is an activity ratio. It measures the average amount of days the business takes to pay its creditors i.e. suppliers. The more days available to pay the better.
Who is called sundry creditors?
When company purchases materials from different vendors on credit, those combined creditors are called sundry creditors.
I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?
If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.
When can the creditors repossess your vehicle?
When you don't pay for it.
What happens to the decedent's debts if there is no money only the home?
Generally, the home must be sold to pay the creditors. If the heirs want to keep the home then they must pay off the creditors.
What if I am disabled and can't pay my creditors?
what is the orgin of dark horse
What made it easier for debtors to pay their creditors?
Paper money.
Do you have to pay creditors after you refinanced your mortgage chapter 7?
yes
