A new poll finds that of all the people in the U.S. with debt, 65 percent say they don’t know when they’ll be out from under the debt. In that group, 25 percent say they’ll still have debt when they die.
In many marriages, one spouse usually handles the bills while the other earns money or takes care of the children. That’s why after a divorce, one spouse could be in for a surprise when it comes to their credit rating.
If you run a successful company, you likely do business with people who have the misfortune of not being as successful as you. In some cases, that means that person owes you money and has declared bankruptcy.
Your business works hard. You, as a creditor, deserve to be paid for your efforts. Sometimes, though, your customers simply don't pay their bills on time. You may be wondering what your debt collection options are, both in and out of the courtroom.
If you are a creditor, one thing that might fill you with worry is if a business that owes you money ends up in bankruptcy, such as Chapter 11 bankruptcy. You may worry about whether the debt will be repaid and whether your rights and interests will be protected during the bankruptcy process. These worries may be particularly strong if the debt you are owed isn’t backed by any collateral (known as unsecured debt).