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YOU go bankrupt. Not on a bill, or a this or a that.

All your debts, and all your assets are included.

Not including everything in the court papers you file may not only invlaidate your entire filing, (and obviously leave you with more debts than you would otherwise), but be criminal, contempt of court, fraud, and put you in jail.

Generally, your assets are used to pay your debts, with any excess debts being discharged.

Yes, utility bills are dischargeable debts.

Why wouldn't you report them as part of your BK?

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Q: Should you tell your electric and phone company that you filed chapter 7 bankruptcy?
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Are vendors guaranteed payment selling a company in Chapter 11 Bankruptcy?

No, but generally they receive higher preference than unsecured creditors that issued credit prior to the bankruptcy, should the chapter 11 company go to chapter 7.


Is Six Flags going to close due to Bankruptcy?

No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.


How does chapter 11 bankruptcy affect you?

Chapter 11 bankruptcy allows you to reorganize your debt so that you may pay it off. But it is not for everyone. You should contact a lawyer to see if you could even qualify for Chapter 11 bankruptcy.


What happens if you have a workmens comp claim and the company files Chapter 7 bankruptcy?

Your claim is most likely covered by a WC insurance, either a prvate policy the employer had or one with the State. As such, your claim should be unaffected by the Bankruptcy.


Is Six Flags in St. Louis really going out business?

No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.


Can you change a joint bank account with a parent before chapter 7 bankruptcy in ny state?

Yes you can change a joint bank account before a Chapter 7 bankruptcy. You should have your finances in order before you file a bankruptcy.


How should an obligation that is discharged in a Chapter 7 Bankruptcy be reflected in a subsequent credit report?

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Chapter 7 bankruptcy requires specific forms to be completed and filed. You can find a complete list of requirements at www.uscourts.gov . Good luck!


If a UK-registered company would like to buy restructure and then sell off a US-registered company which recently went into chapter 11 bankruptcy what legal consideration should it consider?

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What determines if you file a Chapter 13 or a Chapter 7?

Your financial needs really determine which type you should file, if at all Chapter 7 is a liquidation bankruptcy and chapter 13 is a type of debt reorganization bankruptcy which essentially places you on a budget until you can pay back parts of your re-negotiated obligations. You should speak with an attorney about which option is best for your situation, keeping in mind that some debts are not dischargeable under either chapter 7 or chapter 13 bankruptcy.


In California If Chapter 7 bankruptcy is the last resort Should you file bankruptcy first then return a car that has a big loan on it?

Yes. In that order.


When should a stockholder receive payment if a company declares bankruptcy?

A stockholder should receive payment only after the claims of the creditors have been paid off if that company declares bankruptcy.