Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
After a corporation has made a Chapter 11 bankruptcy filing, bonds may still be traded. However, principle and interest payments to bondholders will stop, leading to a default. Additionally, the securities' value could plummet quickly and trading could become incredibly restricted.
By selling assets to pay debts or by coming up with a repayment plan, bankruptcy enables those who are unable to pay their bills to start over. Businesses in financial distress are also protected by bankruptcy rules.
When you apply for bankruptcy protection, the court will grant you a discharge, freeing you from the duty to pay back some of your debts to your creditors.
As mentioned, once your debt is discharged, your creditors are prohibited from contacting you or making any sort of effort to collect the bill.
To know more bankruptcy here
https://brainly.com/question/26392690
#SPJ4
We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.
