Debt

Among the many myths surrounding bankruptcy is the idea that unpaid federal and/or provincial tax debts do not vanish when a person declares bankruptcy. However, this is a far cry from reality! When someone files for bankruptcy, only a few categories of debts can be discharged. Personal income tax debts, as well as director’s liability […]

National Debt is owing to financial markets that lend money they make, said Eric Stone. With the “gilt-edged” character of the Government bonds, they may produce 9 times more credit that they can then give out to the public and companies. In 2013 alone, the UK paid more than £40 billion in interest, which was

City Football Group, the owner of Manchester City, has received a seven-year, $650 million loan in one of the sport’s biggest debt agreements. A new $1 billion stadium for New York City FC, one of the company’s ten worldwide soccer franchises, will be built using the money provided by Barclays. Currently, that idea is stalled

Even if money and debt are the primary causes of divorce, a couple’s inability to communicate isn’t always a good sign. Knowing that you won’t be liable for your spouse’s debt when you marry is the most critical piece of information you should know. The debts you incurred under your own name will be your

Calculations of net debt include lease liabilities, but exclude ROU assets. As a result, thin capitalization and debt covenants may be affected. Costs associated with the lease, such as interest expenditure, are not included in EBIT. Should operating lease be treated as debt? Operating Leases can be capitalized for tax purposes. Similarly, because they are

Unlike a mortgage or a vehicle loan, a student loan is a repayment plan, which means that the borrower pays back the principal amount, together with accrued interest, over time. In contrast to a credit card account that can be kept open for future use, an installment loan account is closed once the loan is

The Trust’s debts are not payable by the Trustees or beneficiaries. They are not personally liable. The Trustee has a fiduciary responsibility. If there are any assets left, the Trustee is responsible for collecting them and paying the bills. The Trustee and Beneficiaries’ personal assets are not subject to creditors’ claims. Is a beneficiary of

In other words, if you die, neither your debts nor the debts of your departed loved ones will be passed to another person. Debt payments must be made before any inheritance money can go to the person’s loved ones. Can creditors go after beneficiaries? For the most part, creditors can’t take your retirement accounts, living

When a credit card is opened and used solely by a single person, that person is solely responsible for repaying the entire balance. Credit card debt is not like assets, and it will not be passed down to your family when you die. Do I have to pay my deceased mother’s credit card debt? In

For the sake of simplicity, collection agencies can be defined as companies engaged by the party who owes you money in order to collect on that debt. They are paid a fee or a percentage of the sales they make. Unless there is a mistake, you are being called because you have gone behind on