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Do you still owe if you finance a car and the finance company goes bankrupt?
Wiki User
∙ 14y ago
Yes, legally you owe them the money which they will still bill you for monthly. However, they will only stop lending they will not forgive your debt. They have that in there bankruptcy which when finalized will be bought by another institution. Ex. When a bank files bankruptcy they sell all of their loan notes for a cash settlement to another institution. Which helps them payoff outstanding debts owed by the company. You will not get out of paying for your car.
Wiki User
∙ 14y ago
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If a collection agency goes bankrupt how does someone find out who owns the debt?
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them
The significance of the word 'limited' in the name of a company?
it means that the company has limited liability. If the company goes bankrupt they loose only what they invest in the business.
What happens to a bank loan when a corporation goes bankrupt?
The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
Is it true that market failure occurs when a company goes bankrupt?
Yes, it's true.
What happens to a publicly traded company when its stock goes to zero?
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
If a collection agency goes bankrupt how does someone find out who owns the debt?
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them
What happens to your warranty when a company goes bankrupt?
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
If a company goes bankrupt do you still get work comp?
Yes...that is actually paid by either an insurance company or a state plan.
If a company goes bankrupt do I still have to pay the finance company even though I am no longer receiving services from them I am refering to the Dores Program.?
Your question will require research by you. If your contract/loan/obligation was part of the bankrupt company's assets it is now in the hands of the company's "receivers" and you may be contractually obligated to continue payment until the matter is ruled on the bankruptcy court. Personally - I am unfamiliar with the "Dores Program."
What happens to the government if a company goes bankrupt?
Nothing.
The significance of the word 'limited' in the name of a company?
it means that the company has limited liability. If the company goes bankrupt they loose only what they invest in the business.
I received a weekly paycheck as a owner of a company can i still collect unemployment if our company goes bankrupt?
Unemployment benefits are paid by your state, so benefit checks will not be effected by bankruptcy.
If a mortgage company goes bankrupt can the company that bought them out legally collect on your old debt?
Yes.
What happens to a bank loan when a corporation goes bankrupt?
The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
Is it true that market failure occurs when a company goes bankrupt?
Yes, it's true.
Does a lien hold if the company goes bankrupt?
unless it is written off by the court, it does. I would assume that it would be listed as debt by the party going bankrupt.
What happens to a publicly traded company when its stock goes to zero?
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
