Companies may file for bankruptcy in order to preserve some assets. This allows some companies to discharge their debts and start again with the assets that were preserved. However, creditors (and employees) can file and request that an involuntary Chapter 7 be granted by the bankruptcy courts.
Debt has got us all down these days, and honestly, we need all the help we can get. This topic delves deeper into debt to help you find how you can dig yourself out of debt and how to avoid going any further into it.
Do you have electronic payments debiting your checking account and wish to have these stopped? Learn how to stop payment on an electronic payment to prevent your checking account from being overdrawn.
In the case of consumers making payment arrangements to settle past due debts, do payment arrangements stop credit reporting automatically? As a general rule, the answer to this is “no, they don’t”. There are rules governing credit reports about unpaid debts, which this article explains. Be informed