pshao01 asked: What prevents a company from borrowing a ton of money, spending it all, declaring bankruptcy, and never paying back its creditors?
Details: say the CEO gets a huge “salary” (this is actually borrowed money), buys himself a bunch of toys, then declares bankruptcy and never repays the money. What is the punishment for said [...]
Christian asked: I am on limited income (Social Security Disability) and am in debt due to the actions of a former “friend” of mine. I am considering filing for bankruptcy to get the creditors off my back, and to start over fresh after a certain period of time has gone by (not sure how long [...]
ariel_okinawa asked: In other words, my bankruptcy was discharged at the end of March, when will the credit report relect which accounts were thrown out in the bankruptcy?
Thanks!
DAS: I know that the items stay on the credit report, but they will have a note indicating that the were included in the bankruptcy so that any [...]
Momof2 asked:
I am filing bankruptcy on June 1, 2008 and am expected to receive my rebate stimulus check in July. Can the bankruptcy courts take my check to pay my creditors?
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