Assets for bankruptcy

Posts Tagged ‘assets’

My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable?

I also think it’s strange that he had to pay 0 more to this insurance company as an "adjustment"(?) recently even though the policy was fully paid for a long time ago. Is this normal?

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Technorati Tags: assets, axa, axa equitable, dad, financial institutions, insurance, life insurance company, long time, whole life insurance

The company that I work for is filing Chapter 11. What happens to me. I am a night and weekend receptionist. So I am fairly low level. Is my job in jeopardy? I’m not really sure how this Chapter 11 thing works either. I overheard my boss talking about transferring assets and what not. So I’m not sure what to think.

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Technorati Tags: assets, boss, filing chapter 11, jeopardy, job, receptionist

Can I liquidate the assets I have inside my business to pay off other debts that I have to recoup the money I have lost and then file bankruptcy on the rest of the loan? And if the contents of the business was part of the colleteral for the loan then I assume I probably can’t do this….

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Technorati Tags: assets, bankruptcy, colleteral, debts, money

(Advice for a close friend)
No major Assets.
Self employed – Would this effect his Corporation?
If he goes chapter 11 – (he can qualify) he doesn’t owe anything
but would have to wait 10 years before he can earn credit.

My thought. Wait it out. If his business does really well. He can pay off the debt at a reduced rate which would look alot better.
Or wait 3 years less… Because I think that goes off in 7 years right?

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Technorati Tags: 10 years, 3 years, assets, chapter 11

under the law? Also, does the church have to return the assets that was given?

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Technorati Tags: assets

If someone declares bankruptcy and lies about assets in his or her name, what should happen to that person? Should there be a penalty? Should the person be required to disgorge assets? Should the person be required to pay a fine? What should happen to that person’s attorney?

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Technorati Tags: assets, bankruptcy

I’ve heard that chapter 7 is a "liquidation of assets" and chapter 13 is a "reorganization of debt".

I don’t own anything except a computer, two old TVs. Can they take that?

Have lots of debt. Would like to file chapter 7. Can I or will they make me file chapter 13? What are the QUALIFICATIONS or REQUIREMENTS?

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Technorati Tags: assets, chapter 13, chapter 7, liquidation, old tvs, reorganization

I’m lost when it comes to these questions.

Which of the following judicial powers does Congress NOT have?
The power to create federal courts.
The power to override Supreme Court decisions by majority vote.
The power to provide for the punishment of those who violate federal law.
The power to define federal crimes.

The level of the nation’s national debt…
is limited by the Constitutition.
can be limited by Congress.
is limited by the states.
may not exceed billion.

Congress does not have and may not exercise any of the…
implied powers.
expressed powers.
inherent powers.
reserved powers.

All treaties must approved by a two-thirds vote of…
the House.
the Senate.
both houses of Congress.
the Supreme Court.

Bankruptcy is the legal proceeding for distributing to creditors the assets of those unable to pay their debts.
True
False

All of the following are implied powers of Congress EXCEPT the power to….
set maximum work hours.
restrict gun sales.
fund education programs.
regulate marriage and divorce.

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Technorati Tags: assets, court bankruptcy, creditors, debts, federal courts, federal crimes, fund education programs, gun sales, houses of congress, implied powers, inherent powers, judicial powers, legal proceeding, majority vote, marriage and divorce, national debt, powers of congress, supreme court decisions, treaties, two thirds

I’m referring to Fraudulent Conveyance under chapter 11 bankruptcy law in the event that a third party (someone other than the debtor) transferred assets owned by the debtor within 1 year of the bankruptcy filing.

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Technorati Tags: assets, bankruptcy filing, chapter 11 bankruptcy, chapter 11 bankruptcy law, fraudulent conveyance, third party

With all of the big financial leaders either going bankrupt or being bought out, what exactly happens to your money if your broker goes bankrupt, since the money is not FDIC insured? And also if you know your broker is headed that direction, do you sell all your assets and move your money out?

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Technorati Tags: assets, fdic, financial leaders, money