What will happen if major banks go bankrupt?
If major banks go bankrupt then what will happen to their debt? In other words, if a person owns couple thousands of dollars in credit card debts and the banks go under, is there still obligation to pay the debt?
(This is theoretically question)
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Categories: information on bankruptcy Tags: banks, credit card debts, obligation, thousands of dollars
Company in Chapter 11, what are my obligations to the non compete agreement?
I quit my job when my company filed for chapter 11 bankruptcy. I have a "non compete" agreement in my contract but in light of the recent change what is my obligation? I am bound to this agreement for 5 years, that seems like longer than the norm. Can I contest this or am I stuck with what I signed for?
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Categories: personal bankruptcy Tags: chapter 11 bankruptcy, job, norm, obligation