Creditor

The Equal Credit Opportunity Act (ECOA) prohibits credit discrimination based on race, color, religion, national origin, sex, marital status, age, or because you get public assistance. Creditors may ask you for most of this information in certain situations, but they may not use it when deciding whether to give you credit or when setting the terms of your credit. “The Equal Credit Opportunity Act (ECOA) and its related amendments, acts, and regulations are intended to prohibit or discourage…

liquidation, or 2. By voluntary liquidation What is compulsory liquidation? Compulsory liquidation is when a winding up petition is presented to the court and served on the company. A petition can be made by the company itself its directors or any creditor. A company can be placed into compulsory liquidation for a number of reasons. This includes: 1. Its inability to pay its debts; 2. It being just and equitable to do so; or 3. The passing of a special resolution The most common…

rid of with bankruptcy or other financial tactics. The first thing you need to do to find a way to get rid of your student debt is to understand it. Many students go through their entire college career and never even open an envelope from their creditors. While, you were not receiving bills on your student loans while attending college, you should have been receiving monthly or quarterly statements about the current balance and state of your loan. You need to be familiar with the conditions…

has to finance its operations. By analyzing the financial reports and looking at the liquidity of the company we can determine if the company can meet its short-term commitments by liquidating the short-term assets, which is really important to creditors and investors. One of the first ratios used to determine and analyze Wendy’s liquidity and compare it against Sonic Drive-In is the current ratio. A general rule of thumb is that as long as the current ratio is one or above then the company…

struggle very hard to pay their creditors. Yet, sometimes bankruptcy is inevitable because of the stringent economic times being experienced. Recessions have resulted in the declaration of bankruptcy by many and this has led to an increase in the demand for bankruptcy lawyer services. Bankruptcy is defined as being unable to offset your debts. It is fully recognized by the law and some countries even have bankruptcy laws put in place to regulate the way debtors and creditors relate when a debtor…

pay back the debt. * Unsecured debt - A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Credit card debt falls into this category. Difference The most straightforward way to understand the difference between unsecured and secured debt to is to work out if your creditor can take away any item or property in the case that you are not able to repay the…

LP4.2 Assignment: Ford Case Study: REVCO BANKRUPTCY Willy Muhigirwa National American University – Online Introduction It’s not an easy fact to know the cost of a formal bankruptcy, depending on the company it can be very expensive and can take a long time before its finalized, it’s really a time-consuming. Revco was in bankruptcy for a long time we can said for almost 4 years and paid out a lot of money directly around $40.5 million after spending also four years.…

Bebe has encountered pessimistic financial performance over the past couple years. In 2017, Bebe reported $139 million loss, biggest in its four-year trend (shown in Figure 1). The chart in Figure 1 illustrates a four-year financial summary of Bebe Store, Inc. It shows that the net income were all below zero over the past four years, which could be one of the reasons why Bebe ended up closing all of its retail stores. In 2017, the company’s net income decreased by 39.48% (shown at Figure 2) at…

Greece has been at the centre of much media attention over the several months because of the riots that were caused due to the fact that it is once again undergoing changes for the purpose of paying off their large amount of debt, these riots where caused because a large amount of the Greek population are opposed to the terms of the bailout seeing them as unfair (News.com, 2015). This investigation will explore how the media chooses to report the issue using three separate reports based on the…

back from the city. This isn’t fair because it isn’t the original piece so if it's really special it won’t mean anything to you when you get the new one. Law 48 says if a creditor lends someone money for crops and a storm comes and washes all the crops away the creditor doesn’t get its money back. This isn’t fair to the creditor because you lose money. Laws 53 and 54 state if you have an irrigation ditch and you ruin someone's field you have to pay them back. This is the same as the other law…