Noun

Singular bankruptcy

Plural bankruptcies

bankruptcy (plural bankruptcies)

  1. A legally declared or recognized condition of insolvency of a person or organization.

Derived terms

Related terms

From Wiktionary under the GNU Free Documentation License.
Wed Aug 5 10:21:22 2009

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).

History

The examples and perspective in this article may not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page.

From Wikipedia under the GNU Free Documentation License
Tue Aug 4 23:02:42 2009

What all is proteced in bankruptcy in TX? If you are being sued, how much cash can you keep after bankruptcy?
Q. My family, along with their company, is being sued for nearly $2M. We, along with the company, will have to file for bankruptcy. Does bankruptcy protect some of our cash to live on, and what assets do courts typically expect to be sold off to pay the lawsuit assuming all other debts are paid?
Asked by canionboyd - Mon Oct 8 23:50:10 2007 - - 1 Answers - 0 Comments

A. Review this site. It will answer a lot of your questions.
Answered by magnolia - Mon Oct 8 23:57:31 2007

How can I get a bankruptcy removed from my credit report?
Q. I filed in 2001. I disputed my bankruptcy and a lien with all 3 credit bureaus. Transunion removed the lien not the bankruptcy Equifax removed the bankruptcy and not the lien Experian wouldn't remove neither one. Now i know once you dispute an item the creditor has 30 days to respond or its removed from your file how can i get the others removed or do I just have to wait it out If one bureau remove it dont the others have too.
Asked by LATANYA N - Thu Oct 26 10:56:38 2006 - - 10 Answers - 1 Comments

A. By waiting til the statue of limitations is up. Sit down you were lucky to have removed what was mistakenly removed. 10 yrs.
Answered by Luckys Charm - Thu Oct 26 11:18:23 2006

How will filing bankruptcy affect my ability to get health insurance?
Q. My financial situation is such that I may need to file bankruptcy. I am starting a new job and as it is a small company I may need to get health insurance on my own instead of through the company and the employer will reimburse me for a portion. I am wondering how filing Chapter 7 Bankruptcy will affect this, if at all. Any assistance would be VERY helpful. Thank you!
Asked by suprstrchic79 - Wed Oct 3 11:40:21 2007 - - 3 Answers - 0 Comments

A. no there is a different criteria on policies like health and life
Answered by Michael M - Wed Oct 3 11:47:25 2007

From Yahoo Answer Search: "bankruptcy"
Mon Aug 17 08:19:05 2009

Magna Creditors Can Sue Chairman, Judge Concludes - Bloomberg
news.google.com
Magna Creditors Can Sue Chairman, Judge Concludes

Bloomberg

US Bankruptcy Judge Mary Walrath gave the creditors permission to sue Stronach and current and former company directors at a hearing today in Wilmington, ...

Magna creditors target company leaders The Associated Press

Magna creditors target company leaders Forbes



all 78 news articles »
Skins Footwear Inc files for Ch. 7 bankruptcy - Reuters
news.google.com
Skins Footwear Inc files for Ch. 7 bankruptcy

Reuters

OB) filed for Chapter 7 bankruptcy , citing assets of less than $5000 and liabilities of between $10 million and $50 million, according to court documents ...

US: Skins files Chapter 7 bankruptcy - report just-style.com



all 4 news articles »
CIT Says Bondholders Won't Push for Bankruptcy - New York Times
news.google.com
CIT Says Bondholders Won't Push for Bankruptcy

New York Times

The CIT Group, a troubled lender to small and midsize businesses, said on Tuesday that its bondholders don't plan to push for a bankruptcy filing, ...

The CIT Bankruptcy Watch Forbes

CIT delays report, warns on bankruptcy CNNMoney.com

CIT Delays Filing; Reports Says Banks Still in Danger MarketNewsVideo.com



all 176 news articles »

From Google News Search: "bankruptcy"
Tue Aug 18 13:39:17 2009

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Bankruptcy Bankruptcy is never an easy option for anyone Sometimes an unforeseen event such as an accident illness or layoffs occurs and before you know it your debts are too much

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From Yahoo Image Search: "bankruptcy"
Mon Aug 17 17:10:45 2009

Does Debt Relief Places W/o Bankruptcy Ruin Your Credit how Do ...
cordei.com
Does Debt Relief Places W/o Bankruptcy Ruin Your Credit how Do ...

rstrst

Sun, 16 Aug 2009 10:49:47 GM

Debt programs initially hurts your score, becuase it takes a month or so until all the creditors you owe money to agree in writing to be a part of the program.

Calculated Risk: ABI: Personal Bankruptcy Filings up 34.3 Percent ...
calculatedriskblog.com
Calculated Risk: ABI: Personal Bankruptcy Filings up 34.3 Percent ...

CalculatedRisk

ue, 04 Aug 2009 16:25:00 GM

U.S. consumer . bankruptcy. filings reached 126434 in July, the highest monthly total since the . Bankruptcy. Abuse Prevention and Consumer Protection Act was implemented in October 2005, according to the American . Bankruptcy. Institute (ABI), ...

126434 Americans filed for bankruptcy in July - On Deadline ...
blogs.usatoday.com
126434 Americans filed for bankruptcy in July - On Deadline ...

Michael Winter

Mon, 10 Aug 2009 20:51:24 GM

Last month, 126434 Americans filed for . bankruptcy. the highest monthly total since landmark changes enacted five years ago and the number could hit 1.4 million by the end of the year, Bloomberg writes. The increases march in lock ...

From Google Blog Search: "bankruptcy"
Mon Aug 17 07:35:26 2009