The bankruptcy tag has no wiki summary.
4
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2answers
81 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?
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4
votes
1answer
75 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 ...
3
votes
1answer
87 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
162 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 ...
4
votes
1answer
126 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
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2answers
87 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 ...
5
votes
1answer
62 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 ...
5
votes
2answers
192 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
241 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
139 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 ...
7
votes
2answers
393 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
226 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
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1answer
162 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.
6
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3answers
173 views
File bankruptcy, consolidate, or other options?
So, during the economy downturn, my parent's 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 ...
6
votes
3answers
844 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
241 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
258 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 ...
13
votes
3answers
192 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 ...
5
votes
2answers
103 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 ...
10
votes
1answer
480 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 ...
