Financial default is defined like this: «a complete cessation of operations due to financial circumstances with or
without filing for bankruptcy protection.»
Supplier default refers to financial default as it is defined in our insurance policies and certificates: «A complete cessation of operations because of financial circumstances, with or
without filing for bankruptcy protection.»
Recently on our bankruptcy forum a user asked, «I have come to the conclusion that after a massive surgery and losing my job that I will not be able to pull myself out of my financial crisis
without filing for bankruptcy protection.
Not exact matches
As a legal proceeding under the
Bankruptcy & Insolvency Act, filing a consumer proposal provides you with the same protections you would receive in a bankruptcy, without filing for b
Bankruptcy & Insolvency Act,
filing a consumer proposal provides you with the same
protections you would receive in a
bankruptcy, without filing for b
bankruptcy,
without filing for bankruptcybankruptcy.
When you
file for bankruptcy protection, an automatic stay prevents creditors from seeking collections
without permission from the court, which is given only in rare circumstances.
Often times because they are in a panic to save their home a homeowner will
file for bankruptcy protection without thinking of the consequences.