The tag has no wiki summary.

learn more… | top users | synonyms

2
votes
1answer
111 views

Why do so many people trade a bankrupt company's stock?

I noticed that GTAT still has a lot of trading volumes after its announcement of bankruptcy. Why people still buy it? Thanks
1
vote
0answers
49 views

In Canada, how soon after a bankruptcy has been discharged can one be filed again? [closed]

I know that in the U.S., in the case of chapter 7, a person can file again for bankruptcy 8 years after being discharged and be discharged again. How does this work in Canada?
2
votes
0answers
82 views

Does being on the board of a bankruptcy-declaring company affect my credit rating?

If I am on the managing board of a company which declares bankruptcy, will it affect my personal credit rating? I am particularly interested in Western Australia.
0
votes
0answers
72 views

Bankruptcy- When to throw in the towel?

When it comes to bankruptcy, is it easier to file for it and later recover or keep paying until you climb your way out the hole regardless of the amount of time it takes you?
1
vote
0answers
33 views

What happens when a (Internation) Central securities depository goes bankrupt?

What happens when a private CSD goes bankrupt? (Many are owned by a state but e.g. Clearstream and CHIPS aren't) I assume that most stocks are only electronically so how can those securely ...
0
votes
1answer
71 views

Are index trackers subject to insolvency risk?

If I invest my money in a bank account, the bank could go bankrupt and I could lose all my money - well, at least I could have in the distant past, before government deposit insurance was invented. ...
7
votes
3answers
498 views

is the bankruptcy of exchange markets possible?

Because exchanged markets like NASDAQ or NYSE are normal public businesses can they go into bankruptcy ? Supposedly they went into mysterious bankruptcy then what will happen to the listed companies ...
23
votes
3answers
6k views

Declare Bankruptcy or Just Wait Seven Years?

We've got one family member who is the classic definition of "ne'er–do–well". I don't think he is capable of understanding money, issues or contracts. When you talk to him he seems to have good ...
1
vote
1answer
87 views

What happens if a Financial Services Company/Stockbroker goes into administration in the UK?

In the UK the Financial Services Compensation Scheme backed by government protects savings in standard bank accounts up to £85,000 per bank. What effects might there be if a financial services ...
5
votes
2answers
321 views

Bankruptcy and Mortgage Reaffirmation

I filed for bankrupcty in 2008 and it was discharged October 1, 2008. In the process, I was going to reaffirm my mortgage but I had a question regarding the terms. Before I knew it, the bankruptcy ...
0
votes
1answer
29 views

Why is the regulation of “swaps” important to failing systemically significant institutions?

I've recently read a nytimes article, which claims that minor details surrounding international regulation of swaps are major roadblocks to plans for safe wind-down of failing global, systemically ...
6
votes
2answers
286 views

Stocks and Bankruptcy

Trying to understand what happens when a company goes in and out of bankruptcy. I'll use American Airlines as an example because it's what I've been following for some years. In November 2011, AA ...
4
votes
1answer
184 views

What legal actions should I take to get tuition fees refunded after the school went bankrupt?

I applied to the Northern School of Languages in Leeds and my student visitor visa was refused. But the school has gone bankrupt, and the financial case is now handled by the Ferguson Company Ltd. on ...
4
votes
2answers
211 views

If the creditor goes bankrupt, am I still required to pay back the principal I owe?

If I borrow money from a credit union (and make monthly payments) and the credit union goes bankrupt, am I still required to pay the money back? If the organization is bankrupt, to whom would I be ...
5
votes
2answers
284 views

What could happen to Detroit Municipal bonds because of Detroit's filing for bankruptcy?

It seems like there's a massive sell off of bonds at this time, such as the municipal bond listed here, for Detroit, Michigan: MunicipalBonds.com – DETROIT MICHIGAN SERIES A - 251093XY1 What ...
12
votes
1answer
417 views

Can a gift be re-gifted before a Chapter 7 Bankruptcy?

About a month or so ago, I gave a family member $10k to purchase a car, because he needed a reliable car for his two hour commute. He's going through some financial trouble, and is now looking to ...
3
votes
2answers
258 views

Can a stock exchange company actually go bust?

I found out today via random googling that stock exchanges are themselves actually companies that are traded on their own exchange. For example, the London Stock Exchange. What will happen if this ...
4
votes
2answers
404 views

What happens to your investment if the broker (which acts as a custodian) goes bankrupt?

For instance, you purchased ETFs using a broker that also acts as a custodian, what will happen to your investment in case the broker / custodian goes bankrupt? Will you lose all your investments? ...
5
votes
2answers
202 views

How can I get a home loan within 2 years of bankruptcy?

About 1.5 years ago I had my bankruptcy discharged. Now, the lease on my house is up and I have about $7k for a down payment on a small starter house (they asking $55k) However the 2 places I have ...
2
votes
1answer
128 views

How are derivatives treated in bankruptcy?

If I am a counterparty to a contract (swap, cds etc.) with an entity that went bankrupt and I am due some payment, how "senior" is my claim (amongst the other creditors where do I rank)? I'm sorry if ...
4
votes
1answer
214 views

What happened in Argentina in 2001 bank sector? did the banks closed? all or some?

What happened in Argentina in 2001 bank sector? did the banks closed? all or some? i am trying to figure out whats the possible scenario to greek banks if greece goes out of euro and into drahma and ...
5
votes
1answer
165 views

What are my options for dealing with stock from a bankrupt company?

I hold some shares of a company in a discount broker account that has recently declared bankruptcy to allow for reorganization and is trading on the Pink Sheets, what are my options for dealing ...
2
votes
2answers
102 views

How expensive is it to keep minimal cash at a brokerage?

With the recent events at MF Global, I am reluctant to keep any more than a minimum of cash at any brokerage; it seems that in the cases of fraud, you either don't get your money back or it may take ...
6
votes
1answer
90 views

If a brokerage commits fraud (by not separating customer funds), is there any SIPC protection?

Recent news on MF Global suggests the possibility that the brokerage firm did not segregate customer accounts. Suppose I have an account at MF Global and suppose they have failed to segregate my ...
6
votes
2answers
250 views

What happens to my credit card or line of credit if my bank goes bust?

What happens to my credit card or credit line if the bank goes bust? I'm not concerned about the BALANCE on them, I'm concerned about losing an older credit line and its effect on my credit history ...
4
votes
4answers
552 views

What are my options to deal with Student Loansharks?

So I had about $16k in student loans. I defaulted on the loans, and they got passed to a collection type agency (EOSCCA). The collection agency tacked another $4k onto the loans. I spoke with a ...
5
votes
2answers
256 views

Outstanding cosigned loan and Bankrupt ex-partner

Background: I started a business (LLC) with a partner about 3 years ago. We took out a business Line of Credit. Because the business didn't have credit of its own, we both cosigned. 1.5 years ago ...
8
votes
2answers
429 views

Received 1099-C from Discover for Bankruptcy Chapter 7

I was told by my Bankruptcy attorney that debt discharged is not income due to my being insolvent. Therefore, did Discover card err in sending a 1099-C Cancellation of Debt form to me that says "debt ...
3
votes
1answer
379 views

Does reopening a Chapter 7 bankruptcy to reaffirm a mortgage change the date of discharge for reporting to credit bureaus?

I am considering reopening my Bankruptcy Chapter 7 that was discharged last year for the purpose of reaffirming my mortgage for the purpose of boosting my FICO score by adding a mortgage to my mix of ...
4
votes
1answer
176 views

Are 401k and IRAs protected the same way during bankruptcy?

I've heard that IRAs offer a better protection during bankruptcy but i can't find any information about it.
7
votes
5answers
277 views

File bankruptcy, consolidate, or other options?

So, during the economic downturn, my parents' business was seriously struggling (as in not making enough income to cover its own expenses) and my parents made a few bad decisions while trying to save ...
8
votes
3answers
927 views

What exactly happens to Euro if one of European Union countries goes bankrupt?

What happens if one of the European Union countries goes bankrupt? Suppose I have money (bank deposits at local banks) in US dollars, Euros and local currency (I'm not in the US). Now one of EU ...
7
votes
3answers
307 views

Stability of a Broker: What if your broker goes bankrupt? Could you lose equity in your account?

What exactly happens if a broker runs out of funds? Could you actually lose equity in your account? If so, what should you be examining when looking at the financial report of your broker?
5
votes
2answers
285 views

Are defined benefit (DB) pension plans guaranteed in the U.S.? What happens if the sponsor company goes bankrupt?

Are defined benefit (DB) pension plans guaranteed in the U.S.? What happens to a DB pension plan and plan benefits if the sponsor company goes bankrupt? Where can somebody find more information on ...
14
votes
3answers
240 views

Aside from having to re-establish credit & credit history, what are downsides to declaring personal bankruptcy?

If someone were to file for (personal) bankruptcy protection from their creditors, is their entire debt wiped clean? And then they have seven years to wait before their credit history no longer ...
6
votes
2answers
142 views

Why Are Credit Card Rates Increasing / Credit Limits Falling?

I thought that there was recent legislation passed that forbid banks for jacking up rates as they had been doing from late 2008 into the first half of 2009. All of my credit cards have seen increases ...
11
votes
1answer
716 views

What does Chapter 11 Bankruptcy mean to an investor holding shares of a Chapter 11 Company?

If I currently have shares in a company that has filed for Chapter 11 bankruptcy protection what impact does this have on me? Does this mean the shares stop trading? If the company successfully ...